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CHAIRMAN’S INSIGHTS

Think global, act local

The Lyon Chamber of Commerce and Industry organised its 8th International Forum last week. Over two days, businesses from the area who wish to expand abroad were able to attend talks and workshops aimed at enhancing the efficiency of their export strategy.

While Jean-Paul Mauduy, president of the CCI, recalled that international trade could make up for a sluggish domestic market, at this year’s forum the accent was on protecting innovation, international fraud and exchange rate fluctuations in particular. The occasion also offered the chance to draw attention to markets with great potential including Central Asia, Iran, India (this year’s special guest country), Turkey, Norway and Sweden.

A report drafted by the FINANCIAL TIMES focusing on investment abroad ranks Catalonia as the best region in Southern Europe in terms of foreign investment in 2016 and 2017.

Entitled FDI European Cities and Regions of the Future 2016/2017, the report ranks the most attractive destinations in terms of foreign investment over the coming two years.

With respect to the regions, Catalonia topped the ranking of the most attractive destinations in terms of foreign investment over the coming two years. The region was followed by the province of Istanbul (Turkey) in second place, with the Community of Madrid ranking third, Lombardy (Italy) in fourth position and the Basque Country in fifth place.

adminex Nigeria attended the 4th German-African Economic Forum in Dortmund that took place on February 23, 2016.

Nigeria is making a new start. The 2015 elections brought a first time peaceful change of government. The new president Muhammadu Buhari has put diversifying the Nigerian economy. Security and fighting corruption high on his agenda.

That makes Nigeria a large, growing and dynamic economy in transition and thus full of business opportunities for both Nigerian and non-Nigerian entrepreneurs.

Below are the six guidelines discussed to use in exploring business opportunities in Nigeria and Africa in general…

A very important and significant change in the VAT law has been implemented in the Czech Republic as of 1st January 2016. The so called Control Statement (Kontrolní výkaz) listing all the individual items (not yet covered by other parts of VAT reporting) must be submitted to the Tax office together with the standard VAT return every month.

It is critical that businesses get ready for the change as soon as possible in order to be able to cope with the 2016 requirements.

The very first month showed that many companies failed to submit the return! Do not be one of them.

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