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LATEST INVESTMENTS


CONSUMERPRODUCTS IKEAASSEMBLESINUZBEKISTAN Netherlands-based home furnish- ings retailer Ikea has announced it will open a $52m manufacturing facility in Tashkent, Uzbekistan. The plant will be located on 5.5 hectares of land and will produce 3000 furni- ture items annually. The investment will create 320 jobs and is due to commence operations in quarter four in 2022.


ELECTRONICCOMPONENTS LGBRINGS5000JOBSTOVIETNAM LG Display, which operates as part of South Korea-based LG, a multina- tional conglomerate, has announced it is investing $750mto expand its organic light-emitting diode module factory in Hai Phong, Vietnam. The new production equipment will become operational in quarter two of 2021. The expansion will create 5000 jobs.


FOOD&BEVERAGES COCA-COLAINVESTS$63M Coca-Cola Beverages Philippines, a bottling company and a subsidiary of US-based Coca Cola, has announced it will expand its opera- tions at its plant in Santa Rosa, the Philippines. This expansion is part of a wider investment plan that will see the company invest $63m into two local plants in 2021.


INDUSTRIALEQUIPMENT BEIJERREFRELOCATESINOZ Sweden-based Beijer Ref has expanded its operations with the


relocation of its manufacturing and distribution centre to Bankstown, Australia. The new A$48m ($38.24m) facility covers 22,000 sqmof space and will become the corporate head- quarters for its Australian busi- nesses: Beijer Ref Australia, Kirby, SCM REF Australia and ACD Trade.


PAPER,PRINTING& PACKAGING GSMAKESMALAYSIAMOVE GS Paperboard & Packaging Sdn Bhd, a subsidiary of Japan-based Oji Holdings, which produces and sells pulp, paper and converted paper products, will invest Y5bn ($47.7m) to build a new manufacturing plant in Selangor, Malaysia. It will increase Oji Holdings corrugated container production capacity by 15% within Malaysia. Operations will begin in quarter two of 2022.


RUBBER SAILUN’SVIETNAMEXPANSION Sailun Vietnam, which manufac- tures and distributes tyres and is a subsidiary of China-based Sailun Jinyu Group, has announced it will invest $462m to boost annual capacity at its current manufactur- ing plant in Phuoc Dong, Vietnam by 2024. The expansion will increase the plant’s production capacity by three million passenger tires, one million truck/bus tires and 50,000 metric tonnes of OTR tires. The expansion will help meet the growing demand from custom- ers in the US and Europe and will create 1516 jobs.


This investment news and data has been provided by fDi Markets, a crossborder investment tracking service that is part of The Financial Times Ltd’s fDi Intelligence division (www.fdiintelligence.com)


STATS


ASIA-PACIFIC GREENFIELD FDI INTOMANUFACTURING BETWEEN 2015AND2020 BY PROJECTNUMBER


300 600 900 1200 1500


0 Source: fDi Markets April/May 2021 www.fDiIntelligence.com


ASIA-PACIFIC GREENFIELD FDI INTOMANUFACTURING BETWEEN2015AND2020 BY CAPEX


100 150 200 250


50 0


Source: fDi Markets 61


Asia T


Viewfrom


heAssociationof South-eastAsian


Nations(Asean)isplaying less ofareinforcermanu- facturingroleandslowly


reducingChina’sdominance.The mostimmediateimpactofCovid-19is theshocks,disruption,anddelaysin Asiansupplychainsduetoborder restrictionsandfluctuating trade. Manycompaniesarerevisingtheir


formersupplychaindependenceon China, increasinglyrelocatingtheir supplychainstoalternativelocations suchasIndonesia,thePhilippines, Vietnamandotherdevelopingnations. This, in turn,leadstomuchregionalisa- tionofAsiansupplychainsandaffects inwardforeigninvestmentintogreen- fieldandbrownfieldprojects. Thedisrupted landscapehas


strengthenedAseanasanother manufacturinghubin Asia,ascoun- tries within the bloc aremajorbenefi- ciaries of regionalisation.Majoroutli- ers,suchasJapan,SouthKorea, Taiwan,HongKong, AustraliaandNew Zealand, arealso revising their competitivestrategies against the ChinaandAseanmanufacturing hubs. AlthoughtheChina+1strategyhas


startedtoweaken,thecountryshould retain its regionalmanufacturing dominanceuntilthebloc, outliersand smallerdevelopingnationscatchup. Technology,digitaltransformation,


automationandartificialintelligence/ machinelearning(AI/ML)playkeyroles inenhancingagility,expeditingproduct redesigntoenablemanufacturersto increasesourcingdiversityandsimplify assembly.Digitalisationempowers companiestoimprovetransparencyby trackingrawmaterialsources,using satelliteandmobilephonedata,linking digitalplatformswithcontractmanu- facturers,seeingwhatinventorythey have,andredirectingproductsfrom physicalstorestoonlinefulfilmentand distributioncentres. Innovativeorganisationsnowmust


adoptnewagilemethodsinplanning andoperations,heavilydeploycross functionalteams,andassesshowdigi- talisationcanbeusedeffectivelyto reducecost,simplifyprocessesand executeshortergo-to-marketplans.■


Lawrence Yeo is CEO of AsiaBIZ Strategy, a Singapore- based consultancy that provides Asia market research and investment/trade promotion services.


E-mail: lawrence@asiabizstrategy.com


Project number


CHINA INDIA


VIETNAM


THAILAND INDONESIA


Capex ($bn)


CHINA INDIA


INDONESIA


VIETNAM MALAYSIA


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