Latest news with #OverseasExpansion
South China Morning Post
a day ago
- Business
- South China Morning Post
Why US market is no longer top priority for Chinese companies building foreign factories
This year's escalation of the US-China trade war has led many Chinese companies to rethink their overseas expansion strategies, with accessing the American market no longer their top priority when considering building factories in foreign countries, industry insiders said. There had been a 'drastic downshift' in inquiries from Chinese companies seeking land to rent or purchase in Mexico, one of their hottest overseas investment destinations in the past, said Jack Lee, an industrial property agent based in the United States whose clients are mostly Chinese firms. Mexico had become a popular choice since US President Donald Trump's first term, when he began to increase tariffs on made-in-China products, thanks to its proximity to the US and its participation in the United States-Mexico-Canada Agreement (USMCA). The free trade agreement guaranteed that as long as a certain percentage of content was made in North America, products could enter the US market free of taxes. But amid the escalated trade tensions between the US and China since Trump returned to the White House in January, doubts have been rising about whether products made by Chinese companies in Mexico will continue to enjoy the preferential treatment. USMCA is up for review next year and has already been breached by Trump with tariff increases on items including imported steel and aluminium. 'Nobody was there [in Mexico] to make a decision in the last couple of months because there has been lots of uncertainty,' Lee said. 'For those who already have their investment in Mexico … they are not expanding either; they are just barely making a minimum right now.' The vacancy rate for industrial property in Monterrey – a major industrial city in northern Mexico that has attracted the most Chinese companies so far – had grown to 5.6 per cent, up from below 1 per cent in the past four years, Lee said.
Trade Arabia
25-05-2025
- Business
- Trade Arabia
17 Bahraini firms to enter KSA under Tamkeen-AstroLabs scheme
Seventeen Bahraini companies will expand into the Saudi market through Tamkeen's Overseas Expansion Program in partnership with AstroLabs. AstroLabs, the Gulf's leading business expansion platform, in partnership with Tamkeen, will onboard a second wave of companies into its Overseas Expansion Program. Since the launch of the initiative, AstroLabs and Tamkeen have successfully onboarded two cohorts of high-potential businesses, all poised to solidify their presence in the Saudi market – a market with high growth opportunities and a strategic gateway to regional expansion. Tamkeen's partnership with AstroLabs aligns with its strategic priorities for 2025, which focus on enhancing the position and competitiveness of Bahrainis in the private sector, equipping Bahrainis with suitable skills for career development in the private sector, and prioritizing enterprise growth, digitization and sustainability and supporting the development of the ecosystem surrounding the labor market and private sector. Joe Kobrianos, Chief Strategy Officer at AstroLabs, stated: 'We're excited to work alongside Tamkeen to help Bahraini businesses on their regional-growth journey, and expand into the fast-growing Saudi market. Tamkeen has played a key role in enhancing the competitiveness of Bahraini companies, setting the stage for their next steps. These businesses have demonstrated strong growth and are now ready to scale into Saudi Arabia. At AstroLabs, we focus on building strong growth corridors and seamless soft-landing experiences, supporting high-growth businesses, from business registration all the way to making key introductions and unlocking access to the local market, we're here to guide them.' Marwa AlEskafi, Director of Workforce, Enterprise, and Startup Enablement at Tamkeen, commented: 'Our partnership with AstroLabs reflects Tamkeen's commitment to empowering Bahraini entrepreneurs, equipping them with the necessary tools to scale their operations, and unlocking new opportunities for regional growth. We continue our commitment in supporting Bahraini entrepreneurs through our various programs and initiatives, and we are proud to see the positive impact of this program on the previous Cohort and are looking forward to witnessing the growth prospects it will bring to this new batch of innovative businesses.' The first cohort with AstroLabs brought together a dynamic group of 10 leading Bahraini companies. These include United Paper Industries (Bahrain Pack), a prominent manufacturer of paper and corrugated cardboard packaging solutions; Right Calories, a renowned food services provider offering balanced dietary plans; Xtrude, an innovator in advanced 3D manufacturing processes; and City Glass, a specialist producer of premium architectural and decorative glass products. The cohort also featured Tanami Capital, a firm delivering Sharia-compliant global investment solutions; Oreem, a comprehensive logistics provider; Boxon Vision, a creative agency delivering advertising and design solutions; Cinqo Media, a strategic communications and advertising provider; and Al-Anzour Physiotherapy and Rehab Complex that offers quality physiotherapy and rehabilitation services. Among the Cohort 2 are - Creative Matter Advertisement, a dynamic creative agency with a decade-long legacy in Bahrain, specialising in branding, digital marketing, and content creation; Fathom Media, a Bahrain-based marketing and technology agency founded in 2013, joins with its 30-strong team delivering innovative branding, web and app development, and strategic marketing services; Gems Industrial Services, established in 2016, brings its expertise in engineering, maintenance, and industrial services, catering to Bahrain's vital oil and gas sectors; Braxtone Group, a regional insurance service provider offering industry-leading insurance solutions with deep local market expertise; DOO, an AI-powered platform that is transforming customer engagement through intelligent automation solutions tailored to startups, SMEs, and enterprises; Alfaa Graph, a specialist engineering office, which delivers architectural scale models and 3D design services to real estate developers and investors; Nexcel Computer Solutions, a leading IT solutions provider offering a broad range of technology products and services to businesses of all sizes; and Loyale, a mobile loyalty app that ensures customers always have their loyalty cards handy while enabling businesses to effortlessly track customer activities. These companies have shown strong market leadership and strategic ambition, with many already operating in Saudi Arabia. Their next step is to formalise their presence by setting up legal entities and enhancing operations. AstroLabs will support this expansion with end-to-end services, including business registration, compliance, and growth support, along with access to digital tools and expert consultancy. Through this partnership, the Bahraini companies from both cohorts join a growing network of over 800 international firms that have expanded into Saudi Arabia with AstroLabs' support. Working hand-in-hand with public and private sector partners, AstroLabs designs tailored programs that foster innovation, bridge industry gaps across key sectors in the Gulf, and facilitate market expansion into emerging economies. To date, AstroLabs has empowered over 1,800 companies to scale across the region, providing a robust and professional business environment that ensures seamless market entry, particularly in Saudi Arabia and the UAE. –
