Toyota

MNCs in the News-2019-11-01

Chinese Vice Minister promises better treatment and protections for foreign direct investment (FDI), no forced tech transfers, and more rapid opening of financial sector. United States (US) contemplates new methods for increasing China’s protection of US intellectual property (IP) such as blacklisting repeat IP right violators. Chinese Ambassador in Malaysia stresses the needs for Chinese companies to deliver the goods as well as respect local laws and customs. Massive Laos high-speed rail project has many problems and multiple critics, but likely to continue given country’s desire to surmount its landlocked status. Japan’s Finance Ministry works to counter anxieties about Japan’s new FDI review regime by, among other things, providing more specifics. Toyota breaks with Honda about backing California’s new automobile emissions standards. Executives at Samsung Electronics and Samsung BioLogics faced serious accounting fraud charges relating to the revaluation of a stake in a US joint venture. Rising number of Korean firms in China report that they are increasingly affected by US-trade war.

MNCs in the News-2019-05-17

According to China’s Ministry of Commerce (MOFCOM), the growth rate of inward foreign direct investment (FDI) from the United States (US) into China over the first four months of 2019 dropped noticeably year-over-year (YOY). Beijing moves to tighten controls over technologies such as cloud computing, big data, and industrial security systems to bolster national information security. Expansion of American tariffs on Chinese goods drives more companies out of China. US Commerce Department’s proposed ban on hardware and service exports to Huawei could severely affect the firm and its American suppliers. Japanese companies working to use more foreign directors to enhance corporate governance and benefit from new thinking. Japan’s Toyota expresses dismay at US President Trump’s statement that “the US needs to defend itself against foreign cars and components.” FDI flows into South Korea for the first quarter of 2019 plummet YOY with some attributing it to the end of tax breaks. Hoping to position itself for the time when subsides for new energy vehicles (NEV) end, South Korea’s SK Innovation plans to open a second battery factory in China.

MNCs in the News-2019-03-22

According to China’s Ministry of Commerce (MOFCOM), inward foreign direct investment (FDI) for the first two months of 2019 grew 5.5 percent year-over-year (YOY). China’s State Administration of Foreign Exchange (SAFE) makes it easier for foreign companies to manage their foreign exchange. Italy may open four ports to Chinese FDI as part of its participation in the Belt and Road Initiative (BRI). Germany to establish state-owned fund to protect key companies from takeovers by foreign companies, especially Chinese ones. Koreans forced to work for Japanese corporations without compensation during World War II are rushing to file lawsuits before the statute of limitations runs out. Toyota announces it will build a new hybrid car in Britain for its Japanese peer Suzuki despite Brexit uncertainties. South Korea’s Gyeonggi Province considers bill requiring schools to put “‘war criminal tags’” on products manufactured by Japanese firms. South Korea’s S-Oil and Hyundai Oilbank will pay USD $127 million in fines to the United States (US) Justice Department for fixing fuel prices at US military bases in Korea.

MNCs in the News-2018-09-14

Reacting to Apple’s statement that new tariffs on Chinese goods would affect many of its products, United States (US) President called on it to manufacture more goods in the US. 16 members of US House of Representatives send letter to Google to inquire about its plans to comply with China’s search and surveillance policies. To improve its market prospects, Japan’s Toyota will share and license hybrid technology with China’s Geely. Japan’s Mitsubishi and a subsidiary of Singapore’s state-backed investment company Temasek have formed a joint venture for massive urban development projects. In Seoul, Indonesian President Joko Widodo calls for Korean companies to partner with Indonesia in the area of advanced technology. Korea’s state-owned Korea. Korea’s state-run company Korea Gas Corp. transforms into global player in energy exploration, development, and infrastructure.

MNCs in the News-2018-05-18

Gap struggles to find its way with respect to T-shirt sold in China featuring criticized map. Belt and Road Initiative (BRI) shows large overseas investment results since 2013. Chinese lithium firm moves forward on deal to take major stake in Chilean lithium producer despite potential government opposition. Seizing opportunities created by China’s BRI, Wu Yi plans to construct an approximately $100 million industrial park in Kenya. First jointly built container port involving public and private sectors of both Japan and Vietnam opens in Vietnam’s Haiphong. Chinese officials increase visits to Japanese corporations to court greater investment. Chinese workers at South Korea’s Lotte Mart affiliate in Beijing stage sit-ins to protest Lotte’s decision to back out of Chinese market. Thailand’s Deputy Prime Minister pledges to work with South Korean firms to boost incoming investment. Malaysia’s new Prime Minister Mahathir Mohamad vowed to reassess all large infrastructure projects with Singapore. Mitsui and Mitsubishi Estate partner with Malaysia’s Sime Darby Property to build and manage industrial facilities with development cost of $133 million

MNCs in the News-2018-03-09

China National Development and Reform Commission (NDRC) states China will improve noticeably market access and operating conditions for foreign direct investment (FDI) this year. American Chamber of Commerce in South China reports that number one concern of American businesses in China because of the is China's cybersecurity law. European Union (EU) may adopt legislation relating to inward FDI this year as a result of rising security concerns especially where Chinese FDI involved. Beijing's controls on outward Chinese FDI do not dent Fosun acquisition spree in clothing and luxury goods areas. Nissan in talks with Renault to acquire bulk of French state's 15 percent Renault stake. Japanese companies still waiting to see what happens with Great Britain's EU Brexit negotiations before deciding how to react to Brexit. GM Korea to ask Korean government to make its Korean factory sites foreign investment zones so it can get tax concessions. Doublestar reaches agreement with Korea Development Bank on purchase of 45 percent stake in Kumho Tire as union protests continue. Jakarta makes it easier to invest in energy and mineral sector by reducing regulations and licensing burdens. Prudential in talks with Malaysia's second largest pension fund to sell 30 percent stake in Malaysian unit following Malaysian central bank move to reduce foreign investment stakes. Telekom Malaysia signs memorandum of understanding with Huawei to work together on expanding fiber broadband network reach in Malaysia. Vietnam revokes investment license for foreign-owned oil refinery project. Legal expert says that foreign investors are interested in developing infrastructure projects in Vietnam including the North-South highway but hesitate because of legal problems.

MNCs in the News-2018-02-09

Following the Mercedes-Benz Dalai Lama ad incident, China's Ministry of Foreign Affairs asks foreign firms to follow "basic ground rules." China Banking Regulatory Commission promises steps to make it easier for foreign banks to do renminbi business in China. Google China works to win friends by searching for information about Chinese overseas investment opportunities and overseas brand successes. China's capital control have adversely impacted some Chinese investing in the technology sector in the United States. Nissan to invest USD $9.5 billion in China with JV partner Dongfeng Group as carmaker strives to exploit China's production quotas for EVs. MGM Resorts plans to set up integrated resort in Japan's Osaka Prefecture because it plans to establish tourism facilities. Hyundai finally on track to receive Chinese government subsidy for EVs after switching to Chinese battery manufacturers. Seoul Semiconductor files suit against Mouser Electronics for dispensing products that infringe upon patent held by it. Indonesia's investment board cites "frequent and abrupt changes in regulations" as major cause of foreign investor wariness when investing in Indonesia. UAE business delegation met with Indonesia's Industry Minister for preliminary talks for producing compressed natural gas in Indonesia. Thailand's parliament approves USD $45 billion EEC project to stimulate country's underdeveloped east. Nissan working with alliance partner Mitsubishi and Bangkok to produce electric cars and batteries in Thailand for export abroad. Malaysia expects more Chinese investment in real estate, manufacturing and logistics industries as Belt and Road Initiative funds find their way into the country. State run Saudi Aramco and Malaysia's state-owned Petronas are raising USD $8 billion to begin construction on planned Malaysia refinery and petrochemical complex. Edge Glass Joint Stock Company begins construction of USD $220 million Vietnam glass factory encouraged by favorable local government measures. US tax reforms causes Vietnam to worry about future foreign investment prospects.

MNCs in the News-2017-08-11

Beijing’s actions to curb overseas foreign direct investment (FDI) by private firms coupled with other factors generate uncertainty among potential Western investment targets. American credit/debit card companies Visa and MasterCard move to gain access to China market, but licensing uncertainties remain. Nissan to sell battery subsidiary to Chinese private equity firm, following recent Chinese government policy changes on purchase of batteries for electric vehicles. Facing pressure to invest in US, Toyota and Mazda plan USD $1.6 billion partnership to establish US based electric vehicle production plant. SK Engineering & Construction Co. announces deal to upgrade Iranian oil plant, reflecting Teheran’s bid to bring in foreign companies to boost its oil industry. Daewoo Engineering & Construction and Samsung Engineering win mega construction projects in Oman. Vale Indonesia experiencing difficulties finding nickel smelter partners for new investments after rule change. Indonesian President courting China for investment but concurrently preparing the military for potential confrontation. EXIM Thailand plans to open new branches in Cambodia and Laos to support outward FDI by Thai firms. China and Malaysia launch USD $13 billion rail project connecting peninsular Malaysia's East and West. Mitsubishi’s CEO tells Vietnamese Prime Minster it plans to produce electric vehicles in Vietnam. Long Son Petrochemical Co Ltd announces Hyundai Engineering and Construction won building contract for petrochemical plant in Vietnam.

MNCs in the News-2017-07-07

Speakers at event in Beijing argue greater market openness in China might facilitate greater Chinese outward foreign direct investment (FDI) in the United States (US). Iranian, Chinese, and French, public and private firms, sign massive USD $4.8 billion deal to develop Iran’s South Pars (SP11) gas field. US considers applying economic sanctions on Chinese companies that do business with North Korea even if such activities are not prohibited by the United Nations Security Council. Japan and EU agree to broad outlines of new free trade agreement against the backdrop of US protectionist turn. China’s growing labor shortages, flowing from government policies, among other things, provide Japanese robotic manufacturing companies with investment opportunities. Hyundai Heavy Industries signs memorandum of understanding with state owned Saudi Aramco for engine plant in Saudi Arabia. Joint Korean and US Chambers of Commerce business summit results in Korean firms investing USD $12.8 billion in US. PT Freeport’s contract extension yet to be decided by Jakarta contrary to some media reports. Tender for Kuala Lumpur-Singapore high-speed rail attracts strong global interest from potential bidders. Malaysia’s Ministry of Finance issues Request for Proposal for firms interested in developing the Bandar Malaysia project. Singaporean Prime Minister Lee Hsien Long and German Chancellor Angela Merkel discuss enhancing defense, cyber security and trade ties between both countries. Vietnam to cooperate with Saudi Arabia in renewable energy projects, reflecting country’s bid to increase electricity from renewable energy sources. Real estate FDI second most popular sector for foreign investment in Vietnam because of economic growth and new government policies.

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