Incorporating a Company in Singapore, Vietnam’s SOE Divestment – China Outbound
Our weekly round up of other news affecting foreign investors throughout Asia.
Incorporating a company in Singapore is a cost-effective and efficient process, allowing investors to concentrate on pursuing their business opportunities across the region.
Investors can process their applications within the same business day, and for a relatively low cost, and the transparent nature of the country’s business and legal system means any information a business requires is readily available online.
Russia, Hungary Win US$1 Billion Tender to Supply Egyptian Railways as Brussels is Left Out of the Loop
The joint bid of a Hungarian and Russian company has won a tender worth over US$1 billion to deliver rail carriages to Egyptian Railways, the Hungarian Minister of Foreign Affairs and Trade Péter Szíjjártó has stated in Moscow. The project will increase Egyptian Rail’s capacity by 34 percent.
European Union sanctions against Russia has lost Hungary US$8 billion worth of potential exports, and the two countries are working together to offset this loss by investing in areas not affected by the sanctions, such as expanding the reach of Hungarian pharmaceutical companies through a manufacturing base in Russia. The Egyptian railway project may also be understood in this context.
The BRICS nations are developing an interaction model for a single arbitration center for its members and other developing economies, the executive secretary of the arbitration commission of the Association of Russian Lawyers Roman Gerakov stated yesterday.
The BRICS grouping includes Brazil, Russia, India, China, and South Africa. It is anticipated their collective clout will account for over 50 percent of global GDP by 2030.
On August 15, Vietnam issued Decision No. 26/2019/QD-TTg, approving a new list of state-owned enterprises (SOEs) that should be equitized by the end of 2020. The list adds 93 new SOEs to the original plan of 406 SOEs to be equitized by the end of this year.
To incentivize foreign investment in the SOEs, the government has been making several regulatory changes, creating exciting opportunities for foreign investors.
China Briefing is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in Dalian, Beijing, Shanghai, Guangzhou, Shenzhen, and Hong Kong. Readers may write to firstname.lastname@example.org for more support on doing business in China.