Lawmakers in the European Parliament approved on Monday (28 May) a far-reaching proposal calling for greater scrutiny of foreign investments, part of a bid to respond to a flurry of Chinese acquisitions in the European Union. Parliament’s international trade committee voted overwhelmingly to extend the list of “critical sectors” that would trigger European Union scrutiny, and to oblige the European Commission and EU countries to act. Members of the committee aim to start talks with the Commission and European Council of members states, seeking to pass the legislation by the end of 2018. The first talks between the three sides are provisionally scheduled for 10 July. “Without falling into protectionism, it is time to show that Europe is no longer taking a naive stance on globalisation,” said Frank Proust, who coordinated the Parliament’s proposals. “We are against shady or harmful investments, in particular those that meet political ambitions to … [Read more...] about EU lawmakers push to toughen screening of foreign investments
Foreign investment act
Eric Crampton for The Spinoff OPINION: Yesterday, I said New Zealand wound up with a ban on foreign homebuyers. I said the policy was bad in principle and worse in practice. Let's go through a little more on just why this is such bad policy. During the election campaign, Labour said they were going to stop foreign speculators from interfering in New Zealand's housing market and pushing up housing costs for Kiwis. The Bill that came out of it will bring all residential land under the Overseas Investment Act's definition of "sensitive land". And that is a bigger and worse deal than you probably think. International Monetary Fund calls foreign buyer ban discriminatory Banning foreign buyers not a 'silver bullet' solution - expert Investor threatens to can luxury housing, golf course if Overseas Investment Amendment Bill passes First up, the bill is hardly restricted to 'overseas' people. If you live in New Zealand on a work visa, you're covered. If you live in New Zealand as a permanent … [Read more...] about Opinion: Why the ban on foreign homebuyers is so very dumb
YEREVAN, APRIL 12, ARMENPRESS. The government has approved three investment programs, acting minister of economic development and investments Suren Karayan said after today’s Cabinet meeting. “The total value of these programs is 21,5 billion drams [roughly 44,500,00 dollars] and 475 jobs will be created. Investments were made in winemaking, brandy production and light industry,” he said. Karayan highlighted the fact that the programs include both local and foreign investments. “This shows that there is economic activation in the recent period, and we hope the activation will continue in Armenia”. The decisions enabled Ararat Wine Factory to use customs privileges for importing equipment and raw materials, which the company will use in winemaking and brandy production. 860,000,000 drams are planned to be invested and up to 100 jobs will be created. The government also granted ABC Textile a privilege of 3-year delay for VAT payments of imports. ABC Textile … [Read more...] about Government approves three investments programs worth $44,500,000, acting minister highlights economic activation
The results of the Kuwait International Conference for the Reconstruction of Iraq last month were modest, while the conference targeted to raise $100 billion, it barely raised $30 billion. This modest achievement cannot be underestimated, and we can build on it. But the most important question is, can international investors be persuaded to return to Iraq? In Iraq, post-conflict recovery will depend upon rebuilding key infrastructure, institutions, and individuals’ trust. Fundamental to all of these is significant and sustained investment in the country. Historically, foreign investment in Iraq has failed to deliver successful results. To a large extent, this is due to a series of recurrent challenges that have appeared time and again as stumbling blocks to investment projects in the country. Now more than ever, following the February conference and the pledge of US $30 billion to the country, is it necessary to assess the mistakes of the past and the mistakes of the present that … [Read more...] about Will the failure of investment in Iraq turn into a success story?
With the Trump administration acting to squeeze China on trade, U.S. governors and mayors are delivering a different message to Chinese businesses looking to invest: Bring it on.Making trips to China and setting up liaison offices in the country, officials aim to position their states, cities and towns as desirable destinations for Chinese companies looking to invest and operate overseas."We are not shy about talking about our relationship with China," said Mike Preston, executive director of the Arkansas Economic Development Commission, in a March 16 phone interview. Since Governor Asa Hutchinson, a Republican, took office in 2015, "we decided to really target China and try to bring more investments from China," Preston said.The outreach continues as President Donald Trump imposed sweeping trade tariffs last Thursday against China, saying as he signed the order, "This is the first of many." He also directed Treasury Secretary Steven Mnuchin to propose new investment restrictions on … [Read more...] about Local U.S. Officials Woo Chinese Investment Despite Trump Threat