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Mzt Aerospace Park in Mazatlan will be a benchmark in the industry

MAZATLAN, SIN – The construction of the Mzt Aerospace Park in Mazatlan, Sinaloa, aims to be the new research and development hub for the aerospace industry in Mexico.   This project has a feature that will make it more attractive, which will have its own airstrip to test experimental aircraft, as well as to provide maintenance to the aircraft through an MRO.   Lino Suárez Guzmán, Mexican entrepreneur and partner of Singular Aircraft, stated that the park was created to promote and develop the aerospace industry. The construction project of the Mzt Aerospace Park consists of two stages, the first...
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The G7’s Infrastructure Plan Leaves the Developing World to China

by Shirley Ze YuConditioning G7 infrastructure financing on democracy will create a supersized China that is more empowered in the developing world. The G7 economies offered an unprecedented $600 billion infrastructure pledge—the first attempt to form a developing world “Marshall Plan” in the post-colonial era—at the G7 Summit last week. Given the $15 Trillion global infrastructure financing deficit before 2040, the G7’s commitment is encouraging, albeit meager. The plan was conceived by the world’s largest democracies to outcompete China in owning twenty-first-century global infrastructure. However, even worse than failing to outcompete China would be leaving much of the developing world to China.Infrastructure...
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Switzerland Suspends Visa-Free Travel for Vanuatu Citizens Until February 2023

Switzerland has decided to no longer permit to enter the country visa-free Vanuatu citizens whose passports were issued on or after May 25, 2015.The decision has been taken on June 10, 2022, during a meeting of the Federal Council, according to a prior decision of the European Union’s Council to partially call off the visa waiver agreement with Vanuatu taken in early March upon an evaluation of the EU that Vanuatu’s investor citizenship programs, also known as Golden passports, bring risk to the EU countries.In a press release issued by the Federal Department of Justice and Police, which functions within...
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What is the global minimum corporate tax? The global minimum corporate tax on MNCs was aimed at discouraging them from shifting profits to low-tax countries. But it will reduce the incentives to attract investment in developing countries.

By Krishna Veera VanamaliCorporate tax avoidance costs countries anywhere from $100 billion to $240 billion annually, equivalent to 4-10% of global corporate income tax revenues, according to estimates from the Organisation for Economic Co-operation and Development or OECD.Developing countries are disproportionately affected because they tend to rely more heavily on corporate income taxes than advanced economies.The existing international tax rules are based on agreements made in the 1920s and are today enshrined in the global network of bilateral tax treaties. But they present two problems.The first is that the old rules provide that the profits of a foreign company can...
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What Belt & Road Slowdown? China Tops Global Outbound Investment And Inbound Investment Rankings And Just Liberalized Hong Kong’s Financial Services Industry

By Chris Devonshire-EllisForeign direct investment and China's outbound investment have hit record levels.      Western media often takes aim at China’s Belt and Road Initiative, which has to be one of the inaccurately reported of all China’s State Initiatives. Readers themselves will be familiar with discussions of ‘slowdowns’, ‘disruptions’, ‘debt traps’, and all manner of problems. It is a similar story of China's domestic slowdowns, with a strict Covid policy attracting all sorts of negative attention amongst stories of ex-pats leaving China and Hong Kong ‘in droves’.While the latter to some extent is partially true, it is also understandable. Strict lockdown regulations...
中文

Cayman Islands: Amendment Intended To Attract Investment And Benefit Clients

By Ministry Of Financial Services By giving institutional investors more investment options, the Insurance (Amendment) Bill, 2022 is intended to strengthen the Cayman Islands' position in international reinsurance and domestic insurance.Minister of Financial Services and Commerce, the Hon. André Ebanks, will bring the amendment to the Cayman Islands Parliament during its third meeting of the 2021-2022 session, which will begin on Wednesday, 8 June.He also will present the Public Recorder (Amendment) Bill, 2022; and table the Auditors Oversight Authority's Annual Report for the Year Ended 31 December 2021, and Audited Financial Statements for the year ended 31 December 2021.Minister Ebanks said...

Turkey tightens foreign citizenship investment from June

Erdogan government raises amount that foreigners must invest in property in order to become eligible for citizenship ANKARA: A price hike for foreigners seeking citizenship through real estate investment is the latest attempt by the Turkish government to ease the country’s financial woes. The move is estimated to help Turkey overcome its current account deficit and change the profile of foreign investors. “Only up to June 3 you can apply for Turkish citizenship by investing $250,000. Obtain a Turkish passport and citizenship in the most prestigious projects in Istanbul,” a popular advertisement reads. Amid widespread criticism of skyrocketing house prices...

Denmark Wants to Change Its Permanent Residency Employment Criteria

Becoming a Danish permanent resident could become easier than before, as the New Danish Minister for Immigration and Integration, Kaare Dybvad Bek, has expressed his intentions to facilitate the procedure for workers.  In an interview with Politiken newspaper, Minister Bek said that people engaged in paid internships should be considered as sufficient criteria for permanent residency, saying he wants Denmark’s immigration rules to be “tight, but not crazy,” SchengenVisaInfo.com reports.  More specifically, the minister said that internships and trainee programs should count toward the work requirement, indicating that applicants for permanent residency must have worked for at least three years and six...