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CONTENTS


Published by The Financial Times Ltd, Bracken House, 1 Friday Street, London EC4M9BT,


UK Tel: +44 (0)20 7873 3000. Editorial fax: +44 (0)1858 461873.


Staff members can be contacted by dialing +44 (0)20 7775 followed by their extension number


Jacopo Dettoni 4339 jacopo.dettoni@ft.com


Editor Global Markets Editor


Alex Irwin-Hunt 6437 alex.irwinhunt@ft.com


Global Investment Reporter


Seth O’Farrell 6450 seth.ofarrell@ft.com


Editorial Intern Naomi Gallagher naomi.gallagher@ft.com


Production Manager andrew.petrie@ft.com


Elliot Smither 6379 elliot.smither@ft.com


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Art Director


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Global Business Director


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Associate Publisher Managing director, FT Specialist


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Senior Marketing Executive


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Printed by Walstead Group in the UK


Registered Number: 227590 (England and Wales) ISSN: 1476-301X©Financial Times Ltd 2021. FDI is a trade- mark of Financial Times Ltd 2021. “Financial Times”


form of advertising without prior permission in writing fromthe editor. No responsibility for loss occasioned to any person acting or refraining fromacting as a


and “FT” are registered trademarks and service marks of the Financial Times Ltd. All rights reserved. No part of this publication may be reproduced or used in any


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Reprints are available of any fDi Magazine article, with your company logo and contact details inserted if required (minimumorder 100 copies). For details telephone 0207 873 4816.


REGULARS 06


GLOBALNEWS


Global foreign investment is recovering well; ‘Investment


will outpace growth’; Global trade beat pre-Covid-19 levels in spring.


GLOBALLAWYER


08 09 10


For one-off copyright licences for reproduction of fDi magazine articles telephone 0207 873 4871. Alternatively, for both services e-mail synd.admin@ft.com


11 12 14


4


The highest-stakes disputes orbit the globe again and


again, fuelled by greed, and propelled by corruption charges.


FREEZONES


Sri Lanka’s $15bn SEZ; Nigeria turns four airports


into SEZs; Can SEZs survive a global minimum tax?


HEADTOHEAD


fDi weighs up the benefits of New York and Los


Angeles. VIEWFROMTHEC-SUITE


Israeli technologist Lior Herman believes the Middle


East could prosper as a new space hub.


COMPANYPROFILE


ZeroAvia CEO Val Miftakhov believes that hydrogen


technology will solve the world’s aviation problems.


EXECUTIVEDECISION


Enegix Energy invests $5.4bn in ambitious green


hydrogen project in Brazil.


15 16


development, but not all locations will succeed.


18


regions during the pandemic, as shown by New York’s repeat stellar performance.


24


potential to reframe investment decisions.


40 42 STRANDEDINTRANSITION


Has the car industry become redundant?


THEFDIIMPACTOFGLOBAL MINIMUMCORPORATETAX


US proposals have reignited tax talks and have the


AMERICASCITIESOFTHE FUTURE2021/22


North America fared much better than other Americas


DEVELOPMENTSITES


Arise IIP’s Gagan Gupta to launch free zone to process


the country’s white gold. RISINGECOSYSTEMS


Santiago’s start-up ecosystem, long reliant


on government aid, must now stand alone.


COVER STORY


SPACEPORTS:WILLTHEYLIFT COMMUNITIESONEARTH?


Space launch is being used to promote local


BEYOND20


THEFUTUREOFLIVEEVENTS: QUALITYOVERQUANTITY


up for grabs.


TRAVELWILLONLYRECOVER IFWEWORKTOGETHER


ever if we take the right approach, writes Glenn Fogel, chief executive of Booking Holdings.


44 46


TOURISM-DEPENDENCEAND ITSDISCONTENTS


tourism-dependent countries’ growth risk has been exposed.


82


vital to assess cross-border exposures, write Antonio Coppola, Matteo Maggiori, Brent Neiman and Jesse Schreger.


84


THINKTANK A NEW MAP OF GLOBAL CAPITAL ALLOCATION


Connecting firms in tax havens to their parents is


With international arrivals down 73% in 2020,


around low-earth orbit satellites. TOURISM


48


HYPEANDREALITYIN THE‘NEWSPACE’RACE


Inmarsat CEO Rajeev Suri on tempering the hype


The travel industry can come back stronger than


Questex CEO Paul Miller tells fDi that everything is


COVER STORY 18


www.fDiIntelligence.com June/July 2021


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