Myanmar may finally have completed its shiny new foreign investment law, after much delay. But sceptics still question whether the much-vaunted rush of foreign investment will follow.
Despite pronouncements by companies such as Coca-Cola, Nestle and GE about entering Myanmar, most deals are limited to product supply and distribution. The big western names are yet to commit serious money, let alone build factories. But at least the professional services firms are setting up shop – the latest being PwC, which this week announced the opening of a Myanmar office. Continue reading »
At first sight, bad news from Beijing on Thursday for the world’s Big Four accountancy firms.
Orders from the finance ministry to hand control of their Chinese operations to Chinese citizens might appear to be a drastic threat to the way they do business.
But in fact the announcement is reasonably good news: it ends long-running uncertainty over the issue, sets a clear timetable and brings China into line with many other countries. Continue reading »
Hungary is once again the darling of central Europe among foreign investors. Well, for a day or two at least, while news reverberates of the opening of a Mercedes plant at Kecskemét, bang in the country’s centre.
And reverberate it well might, given that the high-tech plant is an €800m investment, directly creates some 3,000 jobs (and about a further 10,000 indirectly) and its planned output of 100,000 Mercedes A-class and B-class compact cars will generate around 1 per cent of Hungary’s GDP. Continue reading »