No / This chapter analyses the how, who, where and why of rapid rise in intra-regional investment by companies from ASEAN since 2009. The chapter analyses the push and pull factors of intra-regional investment in ASEAN, the resulting patterns of foreign direct investment (FDI) and the accompanying rise of strong regional players. The region’s FDI landscape is changing in terms of investment sources, players, FDI trends and dynamics of the region. This trend is strongly affected by stepped up efforts by ASEAN governments to encourage their national companies to invest in the region and the influence of the ASEAN Economic Community. Regional integration and emerging business opportunities are providing an impetus not seen before in driving intra-regional investment. As more ASEAN companies position and prepare for AEC 2015, this intra-regional investment wave is likely to gather force. The chapter lists the regional and global ‘footprint’ of the top 50 largest ASEAN companies by revenues. The thus identified companies include companies operating in oil and gas, mining, agri-business, telecommunications, food and beverages, manufacturing, banking, power generation, infrastructure, real estate and healthcare services.

現階段中國大陸之經濟發展已不存在資金與外匯的制約、整體投資環境的改善、內需市場吸引力的加大及加入WTO後，一些對外開放初期為吸引跨國企業投資的讓利政策，正逐步取消。為使外商投資與產業結構調整政策相結合，中國大陸的引資方向從「招商引資」到「招商選資」、從外資「超國民待遇」到「國民待遇」轉變。中國大陸於2006年11月公佈《利用外資十一五規劃》，未來將更加重視引進具備先進技術、管理經驗、資源節約型、環境友好型等高素質外資項目。近期重大的外資政策轉變，將對在中國大陸台商的營運活動，造成新的挑戰。 本研究參考工總問卷調查結果，同時運用深度訪談，綜合分析歸納中國大陸近期實施內外資企業所得稅合一、調降出口退稅率及《勞動合同法》對台商營運之影響。本研究發現，企業所得稅是企業有盈餘才需繳，因此廠商普遍繳得比較心甘情願。調降出口退稅率政策對於出口產品遭調降稅率，產品附加價值又不高者，影響較大。《勞動合同法》對廠商的影響則較為普遍。儘管中國大陸外資政策轉變，但因其市場發展潛力大，加上台商群聚效應及經營慣性等因素，維持原投資規模及原投資地點者均超過半數，實際上減少規模或結束營業僅約1成。且經營自有品牌者、產品附加價值高者、管理效率高者、內銷市場比重高者、原本即較遵守法令規範者，相較之下，所受衝擊較小。 即使近期中國大陸外資政策之轉變對出口型、勞力密集型企業較為不利，惟對於高新科技、節能、環保及信息等產業繼續給予租稅優惠，相關商機應可掌握。樂觀者從危機中看見轉機，台商應審時度勢，合法經營，重新整合資源，積極升級轉型，才是永續經營之道。 / Economic development in China is no longer bound by restrictions on foreign exchange and capital investment, and the investment environment as a whole has been improved. These factors, along with the increasingly attractive internal market and China’s joining the WTO, have resulted in the gradual cancellation of profit-concession policies established at the earlier stage of the market opening to attract international investments. To ensure that foreign direct investments（FDI） will be fully integrated with the industrial structure adjustment policies of the country, China’s FDI policies have also been redirected from “Attracting Investors” to “Selecting Investors”; and the “Preferential Tax Treatment” granted to foreign investment institutions has been discontinued and replaced by the “National Treatment”. In November, 2006, the Chinese government further announced the “11th Five-Year Programme for Utilization of Foreign Direct Investment”. It is expected that more attention will be paid to the introduction of high-quality foreign investments distinguished by their high technology, management experience, resource-saving and environment-friendly features, etc. Significant changes in China’s FDI policies in recent years will pose new challenges to the business operations of Taiwanese companies in China. This study has referred to the results of a questionnaire survey conducted by the Chinese National Federation of Industries and adopted an in-depth interview approach, so as to analyze and identify the impact on of the various recent policy changes in China on the operations of Taiwanese companies, including the unified corporate income tax rate for domestic and foreign investment enterprises, the reduction of export rebate rate and the implementation of the Labor Contract Law. The findings show that, in general, enterprises are more prepared to pay corporate income tax because it will only be levied when the company has made profits. The downward adjustment of export rebate rate would impact more on companies whose export products are of lower added value, and are subject to the adjusted rebate rate. The Labor Contract Law, on the other hand, would have a relatively wider influence on the companies. In spite of the changes in China’s FDI policies, more than half of Taiwanese companies have determined to maintain their existing investment scope and business presence in China, considering the great market potential, the cluster effects of Taiwanese companies and the organizational inertia. Only about 10% of the companies have physically reduced their business size or closed their businesses. Comparatively, the less impacted companies are the ones which own their own brand names or highly value-added products, those with better management efficiency or a higher percentage of China’s domestic market, or companies which have been relatively more compliant with the regulatory requirements in the past. While the recent changes in China’s FDI policies have turned out to be unfavorable for export or labor-intensive industries, Taiwanese companies should grasp business opportunities in the areas of high and innovative technologies, energy-saving, environmental protection and the information industry, to which tax credits are being continuously granted. With crises come opportunities. It is recommended that Taiwanese companies in China should evaluate the situation and abide by the relevant regulations; and endeavor to achieve sustainable business development through the re-integration of resources and active upgrading or transformation of businesses.

This study focuses on foreign direct investment ("FDI") and its importance to the economy of South Africa. Recognising that FDI, notwithstanding the type, can contribute to economic growth and development, most countries including South Africa are constantly working to attract it, and hence its demand has become highly competitive. However, FDI does not go without some negative effects, such as conflicts between host and investor country, and the creation of damaging competition to local firms. These negative effects could be minimised if policies and strategies for the promotion and attraction of FDI is part of, and integrated into, general economic development and economic reform policies, and not seen in isolation. Although South Africa has implemented strategies to attract more FDI, a refinement of some of these policies is needed if the country is to be successful in this regard. / Economics / M. Comm. (Economics)

This study focuses on foreign direct investment ("FDI") and its importance to the economy of South Africa. Recognising that FDI, notwithstanding the type, can contribute to economic growth and development, most countries including South Africa are constantly working to attract it, and hence its demand has become highly competitive. However, FDI does not go without some negative effects, such as conflicts between host and investor country, and the creation of damaging competition to local firms. These negative effects could be minimised if policies and strategies for the promotion and attraction of FDI is part of, and integrated into, general economic development and economic reform policies, and not seen in isolation. Although South Africa has implemented strategies to attract more FDI, a refinement of some of these policies is needed if the country is to be successful in this regard. / Economics / M. Comm. (Economics)