Doing Business in Hong Kong 2024
An Introduction to Doing Business in Hong Kong 2024 covers the following:
- Why Hong Kong
- Establishing and Running a Business
- Tax, Audit, and Accounting
- Human Resources and Payroll
Where Are India’s Talent Hubs? Findings from New Talent Feasibility Study
India’s tier-1, tier-2, and satellite cities like Hyderabad, Navi Mumbai, Chennai, Pune, Gurugram, and Bengaluru have become specialized hiring hubs and are rising to the increasing demand from recruiters seeking diverse talent.
Sustainability dimensions added to the Mittelstandsindex (SME Index) Africa
africon GmbH, HBRS, BVMW, Nexia International
What is the potential for you in Africa?
To help German small and medium-sized enterprises (the “Mittelstand”) enter the African markets, the BRS Institute at the Bonn-Rhein-Sieg University of Applied Sciences (HBRS), africon GmbH, the Federal Association of Medium-Sized Enterprises (BVMW), and Nexia International released the “Mittelstandsindex Afrika” (SME Index Africa).
Overcoming common challenges when creating your 2024 Africa strategy: Part 2
Lack of information
The primary challenge businesses face in formulating an effective Africa strategy is the lack of information. The continent’s size makes it challenging to discern where to concentrate efforts. Many markets lack readily available data, and obtaining business insights may require interviews and on-site visits.
Overcoming common challenges when creating your 2024 Africa strategy: Part 1
By 2050, Africa’s population is projected to be over 2.5 billion, presenting immense business opportunities. According to the United Nations, the world’s population will rise to 10.9 billion by 2100, with most of the growth driven by Africa. Can you imagine the opportunities for business growth in Africa resulting from this population expansion?
Applying for a Vietnam Work Permit: Guidelines for Foreigners and Employers
Vietnam’s work permit procedures can be confusing for first-time visitors. This article explains the steps that foreigners should pay attention to when planning to work in Vietnam and key changes to the regulatory framework.
A Guide to Minimum Wage in India in 2024
Foreign businesses in India can have a challenging time comprehending and calculating the minimum wage as they differ in every state, and are categorized under multiple criteria, such as region, industry, skills level, and nature of work.
This article will address some frequently asked questions.
AHK India Newsletter: May
Formalized Flexible Work Arrangements to Be Introduced in Singapore from December 2024
Singapore is set to implement new tripartite guidelines requiring all employers to have a formal process in place for workers to request flexible work arrangements, starting December 2024. This mandate aims to foster a more inclusive and adaptable workforce in response to Singapore’s tight labor market and the evolving needs of its aging population and those with caregiving responsibilities.
POLAND IS AN INNOVATION PARTNER
Adrian Stadnicki, Regional Director for Central Eastern Europe, German Eastern Business Association e.V., Berlin
How attractive do you consider Poland in terms of the availability of labor?
When it comes to the availability of skilled workers in particular, Poland stands out positively in this region. Many countries in Central Eastern Europe are struggling with a severe shortage of skilled workers. Skilled workers are generally more available in Poland.
Poland: Building win-win situations is fundamental to our approach
Marek Ambroziak, Assignment Manager Poland, CT Executive Search
What is your talent acquisition strategy in Poland?
Finding the right talent begins with understanding our clients’ needs. In this respect, communication is extremely important. It's crucial to involve all decision-makers from the onset to prevent any future misunderstandings, be it at the country or regional level within the CEE.
Job descriptions (JDs) and target company lists undergo thorough scrutiny and approval by all parties involved. We also emphasize the importance of aligning with the client ideal profile and cultural fit.
Remote work in Poland: de jure and de facto
Dominika Wągrodzka, Partner, and Agata Koniecka, Associate, BSJP bnt Brockhuis Jurczak Prusak Sroka Nilsson Zamorska Sp.k., Warsaw
While the pandemic may have waned, remote work remains entrenched in our professional culture. According to the Polish Central Statistical Office (GUS), as of the first quarter of 2023, 7.1% of Poland's workforce was engaged in remote work, whether on a regular or occasional basis. However, this figure likely under-represents the true extent of the phenomenon.
New Salary Criteria for Hiring Foreign Executives in Singapore
Singapore will increase the salary criteria for foreign executives and professionals working in the country from January 1, 2025.
The new rule applies to new Employment Pass (EP) applicants. The Employment Pass is issued to expatriates employed as foreign managers, executives, and skilled professionals in Singapore. First-time candidates can obtain an EP for an initial two years which can then be renewed for up to three years at a time.
Corporate Tax Planning for Businesses in Vietnam in 2024
Vietnam has a highly competitive tax structure, which has attracted foreign investors across a spectrum of industries. This Vietnam Briefing tax report discusses the country’s Corporate Income Tax system, key incentives available, compliance obligations, and preparation for Global Minimum Tax regulations under the BEPS 2.0 Framework.
UAE Dominates GCC Investments in Africa, Port Infrastructure & Renewables a Key Focus Area
The UAE is competing with Saudi Arabia, Qatar, and China via its infrastructure and energy investments for strategic influence in Africa and better trade access.
According to FDI Markets, the combined foreign direct investment (FDI) of the top five Gulf Cooperation Council (GCC) states in Africa amounted to US$101.9 billion between 2012 to 2022. The top five beneficiaries of these FDI inflows are Egypt, Morocco, Algeria, Nigeria, and South Africa. Egypt alone received about 68 percent of the total FDI.
Lithuania: As an employer, are you in arrears with your employee?
Consequences: default interest on late payment of salary or benefits, or a contractual penalty following the termination of the contract
Pursuant to Art 147 of Lithuania’s ‘Labour Code’, an employer is obliged to pay a contractual penalty to an employee if their salary and other work-related benefits (such as travel allowance, compensation for leave not taken, etc) are not paid on time.
UAE’s Top Emerging Sectors for Investors in 2024
Economic diversification plans in the UAE have catalyzed growth across emerging sectors like hospitality, e-commerce, cryptocurrency, and AI.
This article explores some of the most promising sectors within the UAE economy for 2024. Ranging from hospitality to e-commerce, cryptocurrency, and artificial intelligence (AI), each of these sectors is expected to play a pivotal role in shaping the nation’s shifting economic landscape.
africon releases a special Africa Economic Report exploring the business potential of the next frontier
This special Africa Economic Report navigates the multifaceted dimensions of Africa’s markets, from industries to regulatory frameworks to innovative ventures to sustainable practices.
Topics covered include:
- Recent economic developments
- Opportunities in selected economies in Africa
- Successful projects implemented in Africa
- Challenges, solutions and recommendations on doing business in Africa
Inside India's Manufacturing Revolution: Strategies and Insights for Business Success
India is emerging as an important manufacturing destination in Asia and its strategic advantages and government support position it as a significant player in global manufacturing.
This edition of India Briefing Magazine, offers an overview of the country's rapidly growing manufacturing landscape, discussing market entry strategies for foreign stakeholders and expansion strategies for domestic players seeking foreign capital and access to technology. It also sheds more light on the futuristic industries, where India is growing its manufacturing capacity on one hand, and prioritizing sustainability goals on the other.
PIPL 2023/24: Cross-Border Data Transfer in China Handbook
This handbook helps explain the key facets of China’s CBDT regime from a business perspective, highlights recent trends and expected developments, and offers practical steps for business to consider when planning their compliance approach.
kazakhstan: THE OPPORTUNITIES OUTWEIGH THE ISSUES
Hovsep Voskanyan, Delegate of the German Economy for Central Asia
German companies seem to continue to show an avid interest in doing business in Kazakhstan. Would you care to comment on this?
There has indeed been an increased interest in Kazakhstan, and Central Asia as a whole. There are several reasons for this, including sanctions against Russia and the German government's efforts to minimize risks with regards to its China strategy. Thus, Kazakhstan is becoming more prominent as an alternative when it comes to diversification. The country has also made significant efforts to become more attractive to international investors.
We have witnessed ambitious political and economic reforms, as well as strong economic dynamism driven by a young and growing population.
kazakhstan: ACTIVE ENGAGEMENT IN BUSINESS DEVELOPMENT IS DEFINITELY HELPFUL
Christian Tegethoff, Managing Director CT Executive Search
What positions do you recruit to in Kazakhstan?
For most of our clients, Kazakhstan is primarily of interest as an export market, although its significance as a logistics hub and a potential investment location has increased over the past year and a half. The country is a significant buyer of agricultural and mining equipment and offers potential for a range of other investment goods, as well as the consumer goods industry.
Qatar and Kazakhstan Sign US$25 Billion in Deals, Strengthen Relations
The deepening partnership between Qatar and Kazakhstan, underscored by a recent round of trade agreements and investments, reflects a commitment to advancing economic cooperation and mutual prosperity.
From February 13-14, 2024, President Kassym-Jomart Tokayev of Kazakhstan embarked on a state visit to Qatar, engaging in pivotal trade and investment discussions with Emir Sheikh Tamim bin Hamad Al Thani. The culmination of these talks resulted in the signing of commercial agreements worth US$24 billion...
Kazakhstan: UNDERSTANDING OF THE LOCAL CULTURE IS IMPORTANT
Semyon Cherkasov, Research Director Eastern Europe CT Executive Search
How do you assess the local talent pool?
Kazakhstan is a recognised and thriving business region. This means that all available recruitment tools can be used to attract highly skilled personnel. Requirement for candidates at this point include an understanding of the local culture and business environment.
Emerging leadership: Challenges for Young Leaders
Leaders don't emerge fully formed. They develop and grow over time, they make mistakes, they fail, they succeed. This journey is a crucial part of emerging leadership.
Now more than ever, there's a pressing need for inspired up-and-coming leaders who can bridge divides and drive tangible change. Passionate and dedicated rising leaders are defining a new era of compassionate and purpose-driven emerging leadership.
