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 investments act
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
BERLIN (Reuters) – The purchase by Chinese carmaker Geely <0175.HK> of an almost 10 percent stake in Germany’s Daimler <DAIGn.DE> is a company decision and there is no need for Berlin to take action, a German government spokesman said on Sunday. “The German government is aware of the acquisition of 9.7 percent of Daimler shares by the Chinese firm Geely,” said the spokesman. “It is a company decision. Due to the character of the investment as a minority stake, there is no need to act in terms of competition rules or foreign investment rules,” the spokesman added. (Reporting by Andreas Rinke; Writing by Madeline Chambers; Editing by Georgina Prodhan) … [Read more...] about Berlin sees no need to act on Geely’s purchase of Daimler stake
Says encouraging investment only way to eliminate unemployment 0SHARES Share Tweet Email Balochistan Chief Minister Abdul Quddus Bizenjo. PHOTO: FILE QUETTA: For eliminating the scourge of unemployment from the province, Balochistan Chief Minister Abdul Quddus Bizenjo has stressed the need for encouraging private sector investment. “The cabinet has decided to encourage private sector investment in Balochistan that will provide more job opportunities for the youth,” said the chief minister while chairing the Balochiostan Cabinet meeting on Monday. Bizenjo says steps being taken to end unemployment Provincial ministers, advisers Sarfraz Bugti, Sheikh Jaffar Khan Mandokhail, Asim Kurd Gelo, Sarfaraz Chakar Domki, Syed Agha Raza, Amir Rind, Haji Ghulam Dastagir Badini, Muhammad Akbar Askani, Manzoor Khan Kakar, Abdul Majid Abro, Prince Ahmed Ali, Zia Langove, Ruqiya Hashmi, Rahat Jamali, Kohda Babar, Hamal Kalmati, Balochistan Chief … [Read more...] about Balochistan Cabinet meeting: Bizenjo wants ‘extra’ private sector investment