foreign investment

Twenty-five U.S. companies and representatives of Kazakh state bodies, national companies and local business representatives gathered in Astana June 14 for the U.S. – Kazakhstan business forum. The event aimed to attract U.S. companies to priority sectors, including car assembly industry, health, construction, agriculture and light industry. About 500 companies in various sectors of the economy with the U.S. participation operate in Kazakhstan, Minister for Investments and Development of Kazakhstan Zhenis Kassymbek told the gathering.

Panama’s President Juan Carlos Varela announced late on June 12 his intention to break diplomatic relations with Taiwan in exchange for recognition from China. [...] Taiwan’s formal diplomatic relations are particularly susceptible to Chinese offers of aid and investment. For decades both Beijing and Taipei were accused by the other of engaging in “dollar diplomacy” or “checkbook diplomacy,” where various forms of international aid appear tied to switching diplomatic recognition.

The Ugandan ministry of foreign affairs (MoFA) has partnered with Stanbic Bank to conduct financial training for Ugandan diplomats as the country positions all missions for commercial diplomacy. [...] Under commercial diplomacy, Mugoya said, missions abroad are expected to deliver tangible financial benefits in terms of direct foreign investments. - 

As part of foreign investment promotion efforts, Investing in Peru (inPeru) public-private association's 12th International Road Show will include Toronto (Canada), among its destinations. [...] inPeru's initiative will also serve to further reinforce the Andean country's trade relations with Canada. 

The Dubai Chamber of Commerce and Industry has finalised preparations for its trade mission to Latin America, which will take place April 15-22 and cover Brazil, Paraguay and Argentina. The Chamber will lead a high-level delegation of UAE businessmen, investors, and officials, who will represent a wide range of sectors, including trade, retail, free zones, food processing and logistics. 

Newly appointed ambassadors to 12 different countries today discussed on adopting economic diplomacy to enhance Nepal’s trade and commerce relations. [...] Newly appointed ambassadors to Australia, Bahrain, Bangladesh, Denmark, Israel, Japan, Myanmar, Oman, Saudi Arabia, South Korea, Sri Lanka and Qatar participated in the programme.

All told, the Kingdom’s prioritization of its economic reform agenda, its interdependence with regional trade partners, and political uncertainty in the United States point to a period of heightened focus on Asia ties in the immediate future. However, Vision 2030’s dizzying ambition of overhauling subsidies and public sector reliance, coupled with channeling a massive, increasingly well-educated youth population into a fledgling knowledge economy, will necessitate that the Saudis cast a wide net to capture as much foreign investment and diversified revenue as possible. 

In early December Afghan fashion found a place in the Middle Eastern edition of Vogue magazine, lithe models posed in colorful, high-end gowns and accessories made by craftsmen from Afghanistan. The couture in Vogue’s pages was also featured in a United States-sponsored exhibition I visited here in Dubai focusing on Afghan exports, including carpets, fruits and nuts, and marble and precious stones. 

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