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LATEST INVESTMENTS


AUTOMOTIVEOEM MITSUBISHISEEKSINDIANJV Japan-based conglomerate Mitsubishi is to open an automotive manufacturing plant in India. Until now, Mitsubishi has operated in India through a joint venture with Hindustan Motors but nowwants to establish a new joint venture with a partner in Jamshedpur.


BUSINESSSERVICES CHINASCHOOLSFORHARROW UK-based HarrowSchool, a private education institute, has announced it plans to set up five English language schools in China.


CHEMICALS INDONESIAOILREFINERYDEAL Taiwan-based CPC Corp is to invest $8bn in a petrochemical facility in Balongan, Indonesia in partnership with local company Pertamina, at the latter’s oil refinery site. It is due to commence operations in 2026. Pertamina and CPC will each hold a 45% stake.


COAL,OILANDGAS SURHANDEVELOPSUZBEKPLANT Surhan Gas Chemical, an energy company and subsidiary of Cyprus- based oil and gas company Altmax Holding, is to develop a gas-fired power plant in the Surkhondaryo region of Uzbekistan.


FOODANDBEVERAGES UNILEVERUPSCHINAFOODOPS UK-based Unilever is to invest $113m to expand its production base in


Taicang, China, to start operations in early 2022. Initially it will make- Wall’s ice cream, with an annual capacity of 150,000 metric tonnes. Production lines for other foods will followat a later stage.


INDUSTRIALEQUIPMENT VIETNAMLANDSR&DCENTRE Hong Kong-based Techtronic Industries, a manufacturer of consumer, professional and indus- trial products, is planning to open a new R&D centre in Vietnam. It will be the company’s largest R&D centre and is expected to employ about 2000 engineers and researchers in IT and manufacturing.


RENEWABLEENERGY GOLDWIND’SAUSSIEPROJECT Goldwind Australia, a subsidiary of China-based wind turbine company Xinjiang Goldwind Science and Technology, plans to develop a 312-megawatt wind farmnear Ballarat, Australia. The 104-turbine Moorabool Wind Farm project will produce enough energy to supply 203,500 households in Victoria and have 20maintenance staff on site.


RUBBER CHINAINVESTSINKAZAKHTYRES China-based tyre manufacturer Qingdao Doublestar is to build a manufacturing plant in Saran, Kazakhstan. The project represents an investment of Tg78bn ($192m). The plant will produce 3m tyres for passenger cars and 500,000 tyres for commercial vehicles a year.


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 TOPCOUNTRIES BYMANUFACTURINGFDI PROJECTS, H1 2020


10 20 30 40 50 60 70 80


0 Source: fDi Markets August/September 2020 www.fDiIntelligence.com


ASIA-PACIFIC TOPCOUNTRIES BYMANUFACTURING FDI CAPEX, H1 2020


10 12


0 2 4 6 8


Source: fDi Markets


Asia A


Viewfrom


t time of writing, India has 1.07million


Covid-19 casesandhas suffered 26,816 deaths; south-east Asia has


1.39 million cases with 33,543 deaths;andChina has 85,937 casesand4653 deaths. TheWorld Tourism Organization


estimates that in 2020, global international tourist arrivals could decline between20%and 30%. Small and medium-sized enterprises –80% of the tourism sector – are expected to be particularly impacted. Travelandtourismemploy


57.5 millionpeople in the 21Asia-Pacificeconomies.The continent’s tourismhasbeen devastatedbystrict lockdowns, sealedborders, groundedflights, restricted international travel,and bankruptedbusinesses.Manytravel hotspots aredeserted. Internaldomestic travel isnowa


keyrecovery focustask.Asecond initiativeis ‘travelbubbles’,whereby visitors fromcountriesdeemedaslow risk fromCovid-19 areallowedto visit. Athird initiativeis to givehigher priorityto businesstravellers, to ensurecontinuedconnections with externalmarkets.Theregional forum Asia-PacificEconomicCooperation is consideringincorporatinghealth protocols in itsBusiness Travel Card. Challengesremain, with


restoration of trust in international travel beingakeyissue. Disputes causedbyCovid-19 arealso likely to delaythe resumption ofexisting travel links,suchasthosebetween AustraliaandChina. Finally,notallAsiancountries are


keenfor rapid border reopenings, especially with thecoolerseason approaching,whenrespiratory diseasesareknownto spreadquicker. WhenSARSstruckin 2003, the


worldeconomywas growing at 4.3%, whenChinadidnotplayakeyrole. WhenCovid-19struck, theworld economywas growing at2.9%ina moreinterconnectedway.Goneare V-shapedgrowth projections; rather, wenowfaceasurvivalist L-shaped recoveryover thenext fewyears.■


Lawrence Yeo is CEO and principal consultant of AsiaBIZ Strategy, a Singapore-based management consulting firm providing Asia market research, market entry and expansion strategy and export/ FDI promotion services.


Website: www.asiabizstrategy.com 51


Project number INDIA


SINGAPORE AUSTRALIA


CHINA JAPAN


Capex ($bn)


INDONESIA CHINA INDIA


MALAYSIA VIETNAM


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