Xavier Bettel’s Post

The United States of America has dominated direct foreign investment into Australia for FY22, FY23 and FY24. Processing times remain an issue for foreign investors, although there are marked differences depending on the nature of the investment, according to the Federal Treasury’s latest set of data. Read our article to learn more: https://ow.ly/Z2Yb50Ubvpa By: Samy Mansour, Andrew Hay, Shigeki Yamaura and Mariam Azzo

Financial services are the crown jewel in our economy, powering over a million jobs with two thirds of those outside of London. The government is providing the sector with the stability and certainty that it needs to flourish, boosting the UK's international competitiveness and helping to grow our economy. Chancellor Rt Hon Rachel Reeves met Mike Bloomberg yesterday to speak about the government's commitment to the financial services sector, and strengthening the UK's position as a leading destination for international finance. This comes ahead of the International Investment Summit on 14th October where CEOs from the world’s biggest businesses will arrive in the UK to hear about our economic strengths and our case for being an investment destination – not just for financial services, but for many more industries from technology and manufacturing to life sciences and clean energy.

"A blueprint to make the EU more competitive with the rest of the world is published on Monday. It’s likely to prove controversial..." The key takeaways are: investment (money), productivity (winner takes), electrification, less trade, European values and eventually SUSTAINABILITY and GOVERNANCE... #europeanunion #competitiveness #investment #supplychain #productivity #competitionpolicy ##tradepolicy #sustainability #governance #asia #china #usa ##indopacific #atlantic

Accession to the EU was a turning point in CEE’s investment fortunes The expansion of the European Union into Central and Eastern Europe (CEE) has been one of the most significant geopolitical events of the early 21st century. Access the full story now at #realassetinsight: https://lnkd.in/emPWrUH4

https://lnkd.in/exJjYQWV Maybe the title is less catchy than the "whatever it takes" speech. Yet, the substance is not less important. In essence, for too long #industrialcompetitiveness has been taken for granted when shaping key EU policies, like energy, trade, competition and budget. Now that the risk of loosing ground versus international competitors is very clear, "radical change" in these fields is urgently needed. And the recipe can only be more and better Europe. The key question is what kind of concrete actions will follow in the coming months and years. Ultimately, the most impactful part of the "whatever it takes" speech was the addition "and believe me, it will be enough", because there was a clear match between the commitment and the executive powers of the ECB. Today, powers to implement this "radical change" are scattered across many layers (EU, national, regional, or local). Yet, there could not be a more credible source for such a wake-up call. Key quotes for those interested in #EUsteel: "We are lacking a strategy for how to shield our traditional industries from an unlevel global playing field caused by asymmetries in regulations, subsidies and trade policies. Energy-intensive industries are a case in point. In other regions, these industries not only face lower energy costs, but they also face a lower regulatory burden and, in some cases, they are receiving massive subsidies which directly threat the ability of European firms to compete. Without strategically designed and coordinated policy actions, it is logical that some of our industries will shut down capacity or relocate outside the EU. And we are lacking a strategy to ensure that we have the resources and inputs we need to fulfill our ambitions without increasing our dependencies". #StrongerWithEUSteel, #EUIndustrialDeal

Accession to the EU was a turning point in CEE’s investment fortunes The expansion of the European Union into Central and Eastern Europe (CEE) has been one of the most significant geopolitical events of the early 21st century. Access the full story now at #realassetinsight: https://lnkd.in/emPWrUH4

My newsletter for Bruegel - Improving economic policy 中華 Mundus on how the #investment by #European companies into #China is evolving and what to expect next. https://lnkd.in/gKj4aDeq

Today, the EU presented Mario Draghi's long-awaited “Industrial Strategy”, assumed to strengthen the Union's competitiveness. First impressions based on flipping through the 70 page summary (the in-depth report has 300+ pages): -       Like anybody promoting fundamental policy changes, Draghi points to a number of key economic issues, where the EU lags behind the US, including feeble productivity growth and a less dynamic corporate sector (e.g. reflected in the structure of listed companies). Draghi also noted (in the press conference) that these problems were ignored until two years ago, which is astonishing given that evidence of Europe’s relative decline has been around for more than a decade. Why policy makers in Brussels, who have been behind the curve for years, should now be on the forefront of Europe’s revival is not obvious. -       Whatever one thinks of the report’s extensive list of recommendations (many are good and creative ), one thing is clear: the implementation of the proposed reforms will increase the overall share of the public sector in the EU by a further 2-3 percentage points or possibly more. -       The main goal of the report is to accelerate centralization in the EU and expand the involvement of Eurocrats in the selection, planning and financing of corporate investment decisions. One of the consequences will be a further politicization of resource allocation, which in the past could be seen in the funding of investment projects based on non-economic (sometimes ideological) considerations. -       Draghi is also convinced that EU decision making can be accelerated through institutional reforms that do not require treaty changes. Again, based on experience and Draghi’s own “whatever-it-takes” template, I fear that the proposed reforms will be implemented by circumventing existing EU law. One should not assume that the ECJ will act as a showstopper. Nevertheless, the report is an important and useful document for anyone interested in Europe's economic future. More comments on specific reforms will follow.

"Competitiveness in the 21st century demands a paradigm shift – one where economic growth is not at the expense of our planet. Our true measure of success will be our ability to create prosperity while stepping towards a greener future." says PwC's Marie Christine Adam #Luxembourg #Economy #Jelux #Competitiveness #PwC