Indian External Affairs Minister Dr. S. Jaishankar is on a two-day visit to Germany, laying the groundwork for German Chancellor Olaf Scholz’s anticipated trip to India next month. The visit aims to strengthen bilateral relations and identify new opportunities for cooperation in key areas including trade, investment, and security.
Foreign direct investment (FDI) in Costa Rica surged by 42% in the first quarter of 2024, reaching a record high of US$1,188.9 million. The increase is attributed to strong growth in investments outside the Greater Metropolitan Area and across various sectors, with manufacturing, services, and tourism leading the way. The United States remains the top source of FDI, accounting for 73% of the total.
Last year, Scotland witnessed a remarkable increase in tourism, reaching nearly four million visitors. This represents an impressive growth compared to pre-pandemic levels, making Scotland the only region within the UK to achieve record-breaking tourism development. International tourists play a significant role in Scotland’s tourism industry, accounting for nearly 20% of visitors and contributing significantly to the economy. Tourist spending has also surged, reaching a staggering £3.5 billion, reflecting a notable boost to local and national economies. In addition, Scotland continues to attract significant foreign direct investment in financial services, with Edinburgh emerging as a key hub for this sector. These positive trends in both tourism and financial services have been instrumental in driving economic recovery and growth in Scotland.
China’s sovereign wealth fund, China Investment Corp (CIC), has joined forces with Investcorp, the Middle East’s leading alternative asset manager, to establish a $1 billion fund for investments in companies across the Gulf Cooperation Council (GCC) region and China. This marks CIC’s first investment in the Middle East and is a reflection of the growing economic ties between the two regions. The fund will target high-growth companies in sectors such as consumer, healthcare, logistics, and business services, and will also include Investcorp’s Saudi Pre-IPO Growth Fund that focuses on pre-IPO companies in Saudi Arabia.
A report by the American Chamber of Commerce in China highlights concerns and cautious optimism among American companies operating in China. While the companies welcomed improvements in relations in 2023, they expressed concerns over inconsistent policies, labor costs, data security, and barriers to free competition. Despite these challenges, American companies generally remain in China due to its vast market size. The report recommends transparent economic policies, clarification of anti-espionage laws, and enhanced communication between the U.S. and China to address these concerns.
Foreign direct investment (FDI) into China has declined in recent months due to new working models adopted by international companies and Beijing’s emphasis on self-reliance. According to data from the Ministry of Commerce, new actual utilized foreign investment in March fell 38% compared to the same month in 2023. This decline follows a trend of slower growth in foreign investment since the first quarter of the year.
