Asia Pacific accounts for 60% of the world’s population, over 40% of world GDP and exports, and is the world’s leading destination and source for foreign direct investment. With China, Japan, and India three of the five largest economies in the world they are essential for every economic development organization to target. In the first eight months of 2019, 6 of top 12 leading global sources of FDI were from Asia with China #2 globally, Japan #4, South Korea #8, Singapore #10, Hong Kong #11, and Taiwan #12.
To target Asia Pacific requires a multi-country approach given the huge trade and investment opportunities and diversity of business and culture across the region.
Wavteq has therefore built the strongest network of specialist trade and investment offices in the region with over 40 highly experienced consultants and business development staff in 7 major business hubs across the region. We have delivered over 250 road shows and trade and investment seminars in Asia. Our team have collectively achieved over 500 investment successes as well as many trade deals. Whether you want to target China, Japan, India, Korea, Hong Kong, Taiwan or ASEAN we have teams on the ground to work with you.
Changan is one of the biggest state owned car manufacturers in China. It has nearly 50,000 employees worldwide. Wavteq China team met the company and discovered that Changan planned to establish a permanent R&D Centre in the UK. We introduced Changan to Marketing Birmingham emphasizing the strength of the automotive sector in the region.
Wavteq organized a senior delegation from Birmingham City Council to meet with Changan at their HQ in Chongqing. Wavteq then assisted in formal discussions with Changan, including translation support and provided professional advice at each stage. We also organized the first site visit of the Head of Changan UK R&D to visit Birmingham and meet with Marketing Birmingham.
The company started up operations leasing 24,000 sq. ft. of space at Birmingham Business Park. Over 110 R&D jobs are being transferred to Solihull with further growth to 300 jobs and 80,000 sq. ft.
Lotte Chemical Corporation is a subsidiary of Lotte Group, one of the biggest conglomerates in Korea. Wavteq Korea team facilitated and assisted Lotte Chemical Corporation to set up 2 plants in Louisiana, the US; Ethan cracker (Project 1, JV with Axiall Corporation) and MEG plant (Project 2, Lotte's own project). The project created 215 direct jobs and 1,892 indirect jobs with $3 billion investment.
Wavteq sourced intelligence the company was expanding and met the company to provide assistance and worked closely with Louisiana Economic Development. Wavteq Korea provided seamless assistance to Lotte Chemical and LED to ensure the project successfully landed into the State.
An announcement has recently been made by Sumitomo of Japan of a €14M investment in an electrical components facility in Tunisia creating an initial 2,000 jobs with the intention to grow to 5,000 jobs.
The company was originally introduced to FIPA, Tunisia’s national investment promotion agency as part of a successful investment seminar and road show to Tokyo organized by Wavteq in December 2017 and as part of an International Finance Corporation (IFC) program.