Latest news with #ForeignDirectInvestment
Japan Times
5 days ago
- Business
- Japan Times
Japan seeks to grow Africa investments to ease reliance on China
Japan is supporting its companies to grow their business in Africa and develop trade ties across a continent where it's mainly been seen as a key donor. The second-biggest Asian economy's emergence from a three-decade period of deflation has boosted its private sector's risk appetite, Takehiko Matsuo, vice-minister for International Affairs at the Ministry of Economy, Trade and Industry said in Abidjan, the commercial hub of Ivory Coast. "Now the mindset of Japanese business leaders has changed dramatically and they are now much more proactive about expanding their business globally,' Matsuo said. "Africa is one of the destinations where we expect Japanese companies' to grow their presence. Japan is reasserting a commitment to do more business with Africa as it emerges from years during which its private sector was particularly risk-averse. The government has yet to declare an end to the deflation that gripped the economy for decades. Still, data this month showed consumer prices have advanced at or above the Bank of Japan's 2% inflation target for three straight years. Japan's net external assets reached a record high in 2024 as its investors and companies continued to load up on holdings abroad, with the U.S. and U.K. the prime destinations for foreign direct investment. So far, only a trickle of that has reached Africa, with the continent receiving about 0.5% of Japan's foreign direct investments. For Africa, Japan's push to recalibrate its relationship also comes at a critical time. Mobilizing private investment has become more pressing since President Donald Trump returned to the White House, slashing U.S. aid. But it could be a win-win. By 2050, 1 in every 4 people will likely be African, and Goldman Sachs Group research projects that, by 2075, six of the biggest economies in the world could be in the Global South, including Nigeria — a point cited by the Japanese ministry. Key sectors of interest for Japan include critical minerals, base metals and rare earths as the government seeks to reduce its reliance on China, coincidentally Africa's top trading partner. "We are pretty much depending on Chinese companies,' Matsuo said. "I'm not saying that we cannot work with Chinese companies, but only depending on one country may be causing some vulnerability.' Japanese trading house Mitsui & Co. emerged as the highest bidder for a stake in First Quantum Minerals Ltd.'s Zambian copper mines, Bloomberg reported in November. Beyond mining, Japanese corporations are also looking to bring new technologies to Africa, sometimes backed by government subsidies, Matsuo said. Fujifilm is exploring preventive medical-care services, a technology that's especially relevant in a region with low health insurance penetration, and Toyota Tsusho is looking into introducing automobile recycling systems, Matsuo said. Hitachi Construction Machinery has also been working on hybrid dump trucks to help green mining operations. Japanese investors also have an appetite for green hydrogen and ammonia that can be used to decarbonize industries, he said. It's not only corporations seeking to work more on the continent. Japan announced an initiative this month to connect Japanese and African startups to foster innovation. Within members of the Organization for Economic Cooperation and Development, Japan was sub-Saharan Africa's third-biggest providers of overseas development assistance in 2022, with $1.68 billion in gross disbursements, according to government data. Unlike the U.S. or the U.K., it's not announced plans to reduce its aid so far. "This year, we will have the biggest meeting for collaboration between Japan and African countries,' Matsuo said, referring to the ninth edition of the Tokyo International Conference on Africa Development holding in Yokohama in August. "In that sense, we are rather making efforts to expand our cooperation.'
Yahoo
27-05-2025
- Business
- Yahoo
Aker ASA: Aker Property Group to Exchange Class B Shares for Class A Shares in Samhällsbyggnadsbolaget i Norden AB
FORNEBU, Norway, May 27, 2025 /PRNewswire/ -- Aker Property Group, a wholly owned subsidiary of Aker ASA, today announces that its wholly owned subsidiary, APG Invest AS ("APG"), has entered into an agreement to exchange 125,038,756 class B shares for 100,923,623 class A shares in Samhällsbyggnadsbolaget i Norden AB (STO: SBB) ("SBB"). The transaction follows the previously announced agreement on May 13, 2025, under which APG acquired 164,561,931 class B-shares in SBB, representing approximately 9.08% of SBB's share capital and 4.44% of the voting rights. Upon completion of the current transaction, APG will hold 100,923,623 class A shares and 39,523,175 class B shares in SBB, corresponding to a total ownership of approximately 7.75% of the share capital and 28.32% of the voting rights. "This share exchange reflects a step towards taking a more active ownership role in SBB, in line with Aker's strategy and proven method of work. With increased voting rights and eventual board representation, we look forward to working closely with the company's leadership and board to help revitalize the company and strengthen its balance sheet," said Øyvind Eriksen, President and CEO at Aker ASA. The transaction is expected to be completed around the end of Q2 2025, subject to the receipt of Foreign Direct Investment (FDI) clearances. BAHR and Mannheimer Swartling are acting as legal advisors for Aker Property Group. About SBB Samhällsbyggnadsbolaget i Norden AB (publ) (SBB) is the Nordic region's leading property company in social infrastructure. The Company's strategy is to long term own and manage social infrastructure properties in the Nordics and rent regulated residential properties in Sweden, and to actively work with property development. Through SBB's commitment and engagement in community participation and social responsibility, municipalities and other stakeholders find the Company an attractive long-term partner. The Company's series B shares (ticker SBB B) and D shares (ticker SBB D) are listed on Nasdaq Stockholm. Further information about SBB is available at Media contact: Atle Kigen, Head of Media Relations and Public Affairs, Aker ASATel: +47 90 78 48 78Email: Investor contacts: Svein Oskar Stoknes, Chief Financial Officer, Aker ASATel: +47 94 80 46 43Email: This information is considered to be inside information pursuant to the EU Market Abuse Regulation article 7 and is subject to the disclosure requirements pursuant to MAR article 17 and Section 5-12 the Norwegian Securities Trading Act. This stock exchange announcement was published by Laila Hop, Paralegal, Aker ASA, on May 27, 2025, 11:10 CEST. This information was brought to you by Cision View original content:
The Hindu
25-05-2025
- Business
- The Hindu
Net FDI decline reflects investment uncertainty in India: Jairam Ramesh
Flagging the latest Reserve Bank of India (RBI) data that reveals that the Foreign Direct Investment (FDI) inflows into India in 2024-25 plunged by an unprecedented 96%, the Congress on Sunday (May 25, 2025) said that it reflects tremendous investment uncertainty in the country, with more businesses choosing to invest abroad. Congress general secretary (Communications) Jairam Ramesh, in a post on X, quoted the RBI data, which shows that FDI inflow in the FY 2024-25 was reduced to a measly $0.4 billion. 'Whatever whitewashing of an official explanation for this precipitous fall is being provided, the fact remains that this reflects tremendous investment uncertainty in India — which is deterring not only foreign investors but Indian companies as well, who would rather invest abroad than at home,' Mr. Ramesh said in his post. 'We ignore the implications of the dramatic decline at our own peril,' the Congress leader said. 'The data was released as part of the RBI's May edition of its monthly bulletin. Net FDI moderated to $0.4 billion during 2024-25 from $10.1 billion a year ago, reflecting the rise in net outward FDI and repatriation FDI,' the RBI report said.
Business Recorder
21-05-2025
- Business
- Business Recorder
July-April repatriation of profits, dividends rises 108pc YoY
KARACHI: The repatriation of profits and dividends from foreign investments in Pakistan posted a notable 108 percent increase during the first ten months of the current fiscal year (FY25), reflecting improving economic conditions and investor confidence. According to the State Bank of Pakistan (SBP), foreign investors repatriated some $1.841 billion during July-April of FY25, compared to $883 million in the same period of FY24, showing a significant rise of $958 million. Most of the repatriation was made from the Foreign Direct Investment (FDI). Repatriation of profits and dividends on FDI rose by 117 percent to $1.752 billion in July-April FY25 as against $807 million in the corresponding period last year. Repatriation of profit from Foreign Portfolio Investment (FPI) surged by 18 percent to $89 million during the first ten months of FY25, compared to $75.4 million in the same period of FY24. Analysts attributed the surge to improvements in Pakistan's external accounts, which have enabled foreign businesses operating in the country to repatriate their profits and dividends more freely, without regulatory restrictions. The increase in outflows also reflects a gradual economic recovery, as foreign companies' earnings continue to improve. Last year, the federal government imposed some restrictions on profit repatriation to manage external liabilities and preserve foreign exchange reserves. However, as the restrictions have been removed, the repatriation of profit and dividend is rising. During April 2025, the repatriation of profits and dividends in Pakistan increased by 115 percent YoY. On a month-on-month basis, foreign firms transferred $121 million abroad in April 2025 including $113 million from FDI earnings, while $18.4 million as FPI returns. Copyright Business Recorder, 2025
The Hindu
17-05-2025
- Business
- The Hindu
Coimbatore has the potential to increase its contribution to T.N.'s GDP, says Guidance MD
Coimbatore has the potential to contribute 30% to 40% of Tamil Nadu's GDP, said Darez Ahamed, Managing Director and CEO of Guidance, Department of Industries, Investment Promotion and Commerce, Tamil Nadu, in Coimbatore on Friday. At a meeting organised by the Confederation of Indian Industry (CII), Coimbatore, and the Indian Chamber of Commerce and Industry, Coimbatore Chapter, he said several Mittelstand (SME) companies in Germany established direct connections and partnerships with Coimbatore-based firms. These companies appreciated the cost-effective and problem-solving capabilities of Coimbatore companies. While there were bottlenecks, including infrastructure challenges, the government was taking steps to address them. Though Coimbatore was classified as a tier-2 city, it was perceived by Fortune 500 companies and MNCs as a tier-1 city and was a preferred destination. The Global Capability Centres, R& D, and logistics were focus areas for investment in Coimbatore and local businesses should make better use of the Single Window System, Biz Buddy, and MOU facilities provided by Guidance for faster approvals, as these were tools already widely used by MNCs, he added. District Collector Pavankumar G. Giriyappanavar highlighted how suggestions from citizens and industry leaders had been incorporated into government actions. Members from various associations representing the MSMEs, electric mobility, textiles, energy, and environment sectors participated in the meeting and shared their perspectives on sector-specific needs, expectations, and requests for support from Guidance. The participants highlighted the need for a common testing facility, upskilling of workforce and attracting Foreign Direct Investment. The officials emphasised the government's commitment to strengthen Coimbatore's position as a major industrial hub. The concerns raised by the participants would be reviewed and presented to the appropriate Forums, they said.
