Prime Minister Mark Rutte, Trade and Development Minister, H.E. Ms. Sigrid Kaag, Agriculture Minister, H.E. Ms. Carola Schouten, Healthcare Minister, H.E. Mr. Bruno Bruins and the State Secretary for Infrastructure and Water Management Stientje van Veldhoven will all travel to China on an economic mission from 8 to 13 April 2018.
They will be accompanied by a business delegation led by Mr. Hans de Boer, chair of the Confederation of Netherlands Industry and Employers. The delegation will include representatives of businesses and knowledge institutions in the sectors of logistics and e-commerce, agri-food, horticulture and propagation materials, life sciences and health, waste management and circular economy, and smart and green transport mobility. A separate programme will be drawn up for each sector.
With 1.4 billion inhabitants, China is the world’s most populous country. In the last 30 years, China’s economy has grown at an average rate of 10% a year, making it the world’s second largest economy and the leading trading nation. China is working to tighten its trading and investment relationship with the rest of the Eurasian continent through its highly ambitious ‘belt and road’ initiative. This also opens up opportunities for Dutch companies, which will be explored in greater detail during the economic mission.
By Roy Lie A Tjam.The theme of this year’s Independence Day ceremony is “One Nation”.
On February 4th,the Democratic Socialist Republic of Sri Lanka, celebrated her 70th birthday. It was on this day in 1948 that the British(1796) formally granted independence. In 1972 Cylon became Sri Lanka.
In Sri Lanka, the President H.E. President Maithripala Sirisena opened the Independence Day celebrations with hoisting the National Flag and commemorated the patriots who had sacrificed their lives: Junius Jayawardene, Dudley Senanayake, Anagarika Dharmapala and others.
In The Hague, the celebration of independence was conducted by H.E. Ambassador Adam Sadiq. He had invited colleagues, officials, friends and compatriots to mark this significant milestone with him. The ride has not always been smooth. However, Sri Lankan resiliency always brought the situation back on track. Sri Lanka has good reason to look at the future with confidence.
The function was held at the newly acquired premises of the Sri Lankan Embassy at Javastraat The Hague on the winter evening of 27 February 2018. What a joyous occasion.
2 March 2018, Tokyo, Japan: Ms. Teiko Kudo, a managing executive officer at Sumitomo Mitsui Banking Corp, shall join Toyota’s board as an outside director, pending shareholder approval due to be obtained through a ballot to take place in June 2018. If so, she shall become the first woman to sit on Toyota’s board
Ms Kudo is known for breaking the glass ceiling in Japan’s male-dominated banking industry, becoming the first woman to hold the title of executive officer at Sumitomo Mitsui back in 2014.
She is also involved in a fund Toyota set up with Tokyo-based hedge fund Sparx in 2015, which mainly invests in artificial intelligence, robotics and hydrogen-related technologies. As part of the board reshuffle, Toyota said Philip Craven, former president of the International Paralympic Committee, will also join as an outside director.
TheFirst Lady of Azerbaijan, Mrs. Mehriban Aliyeva.By Geovanny Vicente Romero.
Azerbaijan recently hosted its first Global Startup Weekend Women in Baku attracting 50 entrepreneurs leading the country’s fast-growing startup ecosystem. Two women from a human resources and job-seeker startup called TalentPort won this competition and represented Azerbaijan at the Global Startup Weekend Women in Paris.
TalentPort is described as the first Azeri corporate social responsible company aimed to provide students and disabled people with temporary jobs to build their skills and provide a reliable, cost-effective source of labor. This company is an excellent example of the valuable contributions women leaders make in Azerbaijan’s modern society with a strong track record of women’s empowerment reflected in the country’s political leadership and educational attainment.
How has Azerbaijan’s human development set itself apart from its neighbors? A small Muslim-majority nation squeezed between Russia and Iran, Azerbaijan is no different from its Muslim neighbors, yet the progressive government of the short-lived republic in 1918-1920 ensured that women became full members of the liberal and secular society.
A renowned Polish-American historian Tadeusz Swietochowski wrote in his seminal book Russian Azerbaijan, 1905-1920 that the National Council’s law on Constituent Assembly providing proportional representation to minorities and political groups, and universal suffrage effectively made Azerbaijan the first state in the Muslim world to grant women their political rights.
Thus, Azeri women were enfranchised even ahead of many developed nations of Europe and the United States of America. Indeed, the Land of the Free and Home of the Brave passed the 19th Amendment to the U.S. Constitution giving American women their voting rights in 1920. Since 1918, women have become a sign of progress in Azerbaijan.
This tradition continues into the 21st Century. In March 2000, the late President Heydar Aliyev reportedly signed an executive order on a new “State Policy on Women”, instructing the administration to ensure proportional representation of women in government based on the principles of equality; make sure women have their deserved place in business and economics, and consistently check the progress of women in the society.
The President of Azerbaijan, Mr. Ilham Aliyev and spouse First Lady Mehriban Aliyeva.
The new law may have solidified the path that was already leading women in Azerbaijan to new heights. At present, Azerbaijan has a female cabinet member and 16 percent of its 125-member National Assembly are women. According to the United Nations Committee on the Elimination of Discrimination against Women’s report on Azerbaijan, the poverty rate among women decreased from 49 percent in earlier years to 5.9 percent in 2014, a statistic that can be attributed both to the overall economic development of the country with equal participation and benefit to its women.
Azerbaijan society values education, with 90 percent of women graduating from secondary school education. Since enforcing the 2000 law on the state policy on women, women by 2015 made up 18 percent of Azerbaijan entrepreneurs. Azeri women are also serving in the military, with an estimated 1,000 women in active military duty alongside men. The power of women in Azerbaijan also extends to minorities. Such is the case of Tatyana Goldman Alexander, an Azeri Jew holding a seat in the Supreme Court of Azerbaijan, a testament to the country’s special attention to ethnic minorities and women.
Perhaps, some modern-day inspiration for women in Azerbaijan may be coming from the influential First Lady Mehriban Aliyeva. In her tenure as the First Lady, she has served as the Goodwill Ambassador of UNESCO and ISESCO, taking her philanthropic work beyond Azerbaijan. The non-profit Heydar Aliyev Foundation that she’s led since its formation in 2004, has made substantial contribution to enhancing cultural and economic development, especially when it comes to young women.
With the efforts of the organization, new hospitals, museums, schools were built in Azerbaijan and other countries, including Egypt, Romania, Russia, the Netherlands, Pakistan and Georgia. Recently, the First Lady become the highest ranking woman official in Azerbaijan’s history when she was named Vice President in 2017.
The case of Azerbaijan demonstrates how stereotypes of women can be dismantled, how equality can be established and most importantly, how the world can be made a better place. Women contribute to the highest positions of power, because they have knowledge and expertise to share that enrich public policies and political discussions. Women improve the representativeness of the decisions that emerge from the political system resolving many of the globe’s most entrenched conflicts and leading humanity into the future. Azerbaijan’s future is being written by a concert of voices, of which women represent an integral part.
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About the author:Geovanny Vicente Romero is the founder of the Dominican Republic Center of Public Policy, Leadership and Development (CPDL-RD). He is a political analyst, international consultant and lecturer. He’s written many articles on eradication of poverty, human rights and the role of women in a society.
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Pictures are a courtesy of the Embassy of Azerbaijan in The Hague.
Maria Melendez – Mayor of Ponce, Puerto Rico. Photography by Ian Wagreich and the U.S. Chamber of Commerce. By Geovanny Vicente-Romero.
The previous decade saw a wave of women serving as presidents from every corner of Latin America and Caribbean, such as Argentina, Brazil, Chile, Costa Rica, and Trinidad and Tobago. For the first time in recent memory, there will be nearly a week in March 2018 without a female head of state in the position.
On March 11, Chile’s President Michelle Bachelet will hand over power, and it is not until March 19 that President-elect Paula-Mae Weekes will take over Trinidad and Tobago. The unifying theme underlining these recent electoral victories point to women who continue playing strong leadership roles throughout government at the international, national, state, and local levels. In honor of International Women’s Day, here we highlight five women representing their countries and regional governments in each of these
Isabel Saint Malo de Alvarado – Vice President and Foreign Minister of Panama
Saint Malo has the honor of being the first woman elected Panama’s first vice president in the country’s history. Panama typically combines the vice president and foreign minister positions, and Saint Malo’s 15 years of experience with the United Nations Development Program has been a huge asset for Panama’s leadership in implementing the 17 Global Goals for Sustainable Development. Saint Malo frequently represents Panama on the world stage as a leading democratic country committed to economic development, social equality, and facilitating dialogue.
Margarita Cedeño de Fernandez – Vice President of the Dominican Republic
Vice President Cedeno has been in the public spotlight as First Lady of the Dominican Republic from 2004-2012 while her husband, Leonel Fernandez, served as President. Cedeño has led internationally recognized programs in education, childhood development, nutrition, family planning, and technology. Cedeno is the second woman to become Vice President in Dominican Republic, the first being Milagros Ortiz Bosch in 2000. Before the elections in 2012, Margarita was the latest example of Latin American first women vying to become President. She is very popular in DR where many people greet her singing some slogans, including “Llegó mamá” or “Mom has Arrived,” a popular expression among her supporters.
Maria “Mayita” Melendez – Mayor of Ponce, Puerto Rico
Puerto Rico’s second largest city (Ponce) elected Maria Melendez Mayor in 2009. Following an extended economic crisis and the devastating hurricane in 2017, Melendez has emerged as an internationally acclaimed leader that Puerto Rico can rely on to help rebuild the island. A staunch defender of Puerto Rican rights as United States of America citizens, Melendez has designed a campaign called, “We are Americans too,” that has helped her city gain an audience to advocate for a more sustainable future and urgent response to energy needs with U.S. senators, other state officials, and business leaders.
In January 2018, Melendez was awarded the Antonio Villaraigosa Leadership Award as a Tribute to Mayors during which she was described by the Los Angeles Mayor Eric Garcetti as a “True American Hero.”
Paula-Mae Weekes- 6th President of Trinidad and Tobago
Paula-Mae Weekes is a Trinidadian legal professional and a Judge of the Turks and Caicos Islands Court of Appeal, who is the President-elect of Trinidad and Tobago, due to take office on 19 March 2018. Weekes will become the first woman to hold the office of President in Trinidadian history, as well as the nation’s second female head of state overall, after Queen Elizabeth II. Weekes follows in the footsteps of Trinidad’s first woman Prime Minister Kamla Persad-Bissessar who served in the role from 2010-2015.
Patricia Espinosa – Executive Secretary of United Nations Framework Convention on Climate Change
Patricia Espinosa has been a career diplomat since 1981. She is fluent in four languages and in 2015 was appointed to Ban Ki-Moon’s high level panel on sustainable development. In 2016, she succeeded Christiana Figueres of Costa Rica and became Executive Secretary of United Nations Framework Convention on Climate Change (UNCCC). Espinosa brings to her new appointment more than 30 years of experience at the highest levels in international relations, with a specialization in sustainable development, gender equality, climate change, global governance, and protection of human rights. Before leading UNCCC she was serving as Mexico’s Ambassador to Germany (since 2013 and from 2001 to 2002). She also served as Minister of Foreign Affairs from 2006 to 2012.
The achievements of these five women are well worth celebrating. However, much progress still needs to be made in integrating women and their leadership talents into our societies, governments, and businesses. There are many women working everyday making valuable contributions to their jobs, their communities and their families. International Women Day is about honoring these women so that they can pave the way for more successful role models at every level of society.
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Geovanny Vicente-Romero.Geovanny Vicente-Romero is the founder of the Dominican Republic Center of Public Policy, Leadership and Development (CPDL-RD). He is a political analyst, international consultant and lecturer based in Washington, D.C. He writes a column for El Diario La Prensa (N.Y.), La Opinion (L.A.) and El Nuevo Día. Reach him on Twitter @geovannyvicentr.
By Karel Frielink.
What do presidents, diplomats, housekeepers, attorneys, kids, CEOs and second-hand car dealers have in common? They all negotiate in order to get what they want.
Negotiating your way through life. It all starts when you are born. A baby’s negotiating power comes from his mouth; when used by adults it is described as the cry baby tactic. Before adulthood you negotiate with your parents about pocket-money, getting toys or a scooter. It is then that you realize that size and power do matter. You develop skills and tactics. You will need those skills (and tactics) not only in a work environment, but also in daily living.
Especially if negotiating is part of your profession, you must know how to negotiate successfully. Know your style and that of the others involved in the process: are (only) reasonable negotiators involved? Do they want to be the sole winner of the negotiations or are they seeking a solution to the problems of all parties involved? Are the negotiators competitive or working side-by-side? Does the relationship matter more than the stakes? Is the focus on interests, or on positions? What is it you want out of the negotiation? What is it the other party wants? What do they think you want? Determine your settlement range: the area between your best and worse-case scenario.
Preparation is a key element in achieving success. I refer to Michael P. Donaldson’s book The Power of Preparation: The Wish-Want-Walk Negotiating Method: what you wish ideally (your goal), what you consider right and therefore want (where you think the negotiation should end up) and under which outcome you will walk away form a deal because it is simply not worth it.
Negotiating is about communication, effective communication to be more precise. Without listening attentively, which for the avoidance of doubt means stop talking and stop planning your response, effective communication cannot exist. Listening isn’t easy. It too requires preparation as well as a sincere interest in the other party. In order to get what you want, you need to know where the other person is coming from.As Gary Noesner wrote in Stalling for Time: My Life as an FBI Hostage Negotiator: “Listening is the cheapest yet most powerful concession we can make.”
Diplomats and lawyers can learn from each other when it comes to being a smart and effective negotiator. Aernoud Bourdrez is a lawyer based in Amsterdam and a conflict negotiator. The approach of Bourdrez differs from traditional advocacy. Where traditional lawyers focus on the legal aspects of the conflict, Bourdrez puts emphasis on the patterns that characterize the conflict and ways to break through these patterns.
On preventing and resolving conflicts Bourdrez wrote the book Think Like a Lawyer, Don’t Act Like One. For this book he followed the famous course Program on Negotiation at Harvard and he read standard works like Getting to Yes, The Theory of Conflict and The Art of War. He also watched hours of Big Brother and Hell’s Kitchen and dozens of K-1 fights.
But according to Bourdrez, he learned the most from Dashcam movies on YouTube. Particularly those from Russia, where traffic can get raw. The dash mounted cameras beautifully record how conflicts arise, and how the one conflict drastically gets out of hand and the other one is smartly resolved.
Based on historical events, hilarious blunders, and examples from his own practice, Bourdrez explains the recurring patterns you see in conflicts and how you can break through. In his book he offers 75 successful strategies for avoiding or solving conflicts. Even a career diplomat could learn a thing or two from a lawyer. And vice versa of course!
Karel Frielink, Dion Gumbs.About author:Karel Frielink is the Honorary Consul of the Federal Republic of Germany in Bonaire, Curaçao, St. Maarten, St. Eustatius and Saba; Dean of the Consular Corps of Curaçao; Attorney in the Dutch Caribbean. (This contribution is written a titre personnel)
By Barend te Haar.
The Charter of Paris(1990) is a milestone in European history. The Heads of State and Government of the countries of Europe and North America stated that the “era of confrontation and division of Europe” had ended and declared “that henceforth our, relations will be founded on respect and co-operation” and that “a new era of democracy, peace and unity in Europe” had opened.
But now, almost 30 years later, confrontation and division are back and respect and co-operation are lacking, in particular between Russia and the West. How could that happen? Who is to blame and what to do? These questions were discussed in a number of workshops organized by the OSCE Network of Think Tanks and Academic Institutions, with a focus on the period between the fall of the Berlin Wall in November 1989 and the above mentioned summit of the Conference on Security and Co-operation in Europe (CSCE) a year later. One of the workshops brought historians together with former diplomats (including myself) that participated in the negotiations in 1990.
The results of the project were published in December 2017 in a report entitled The Road to the Charter of Paris: Historical Narratives and Lessons for the OSCE Today. A main conclusion of the report is that “Mistakes were made on both sides, but some of the more fatal long-term developments resulted largely from unintended side-effects of crucial decisions that made perfect sense for the respective side at the time.”
Governments would have had difficulty in arriving at this conclusion, because they tend to look at things only from their own side. It is interesting to see that almost every country has its own view on what happened, depending on its particular history and interests. Even within one country different narratives can co-exist.
See for example my report on Dutch narratives, published in Security Narratives in Europe, A Wide Range of Views(https://www.clingendael.org/sites/default/files/2017-12/Dutch_narratives_about_Russian-Western_relations.pdf).
How is it possible that so many different narratives exist? One reason is that some countries deliberately falsify history, e. g. by prohibiting mentioning events that do not fit in their rosy self-image. Less reprehensible, but at least as important is the habit of selective reading of the historicalrecord, because countries tend to focus on the events that are in line with theirpreoccupations and interests and tend to ignore those that do not.
For example, Western countries argue that enlargement of NATO and EU was the most effective way to promote stability and democracy in central Europe, but they tend to conceal that they did not know how to include Russia in their plans.
Misperceptions and misunderstandings caused by a selective reading of history have provided a breeding ground for mistrust and conflict. A more complete and multifaceted understanding of what actually happened and how that was perceived will not solve these problems, but it can contribute to deeper mutual understanding and thereby lay the basis for cooperation.
By Dr. Huub Ruël.
Today’s world is very much a social media world. Even ‘traditional’ media have turned into social media-based news sources, and sharing almost everything all the time has become the standard.
There is hardly any event or happening that is not caught by a camera and shared via social media. Social media are the channel for creating, sharing and spinning opinions, videos, messages, documents, fake news and so on, although not always free.
All types of industries, professions, organisations and environments are affected by it, and diplomacy is no exception.
The current US president may have helped lift the status of social media to new levels, both higher and lower. He uses Twitter as his channel of first resort to share his opinions with the world before sharing it with his staff and advisors. This is the ultimate classic case of how social media usage impacts the work of diplomats. Each tweet by the US president requires the US diplomatic corps around the world to interpret the message and stand behind it. The tweeting-behavior of the US president requires diplomats to be on alert 24/7 and beyond.
Social media usage has many good aspects with regard to the work of diplomats. It offers opportunities to increase the transparency of the work done by embassies, it increases the speed of distributing information, and it enables diplomats to contact a wider audience and a more diverse group of actors.
The threshold for the public to contact embassies, ambassadors and other diplomats has also lowered due to the increased visibility and transparency facilitated by social media. And in case of emerging crises, social media allows the public and specific stakeholders to be informed instantly. Diplomats have started to use social media for their own profiling and visibility. The question remains, however, is the most social media savvy diplomat also the best diplomat?
But as the case of the US president implies, the phenomenon of social media has also become a source of stress for diplomats. Parliaments and the public are constantly on top of the global issues and happenings. An unending global reporting of events requires instant responses from diplomats and foreign ministries, which are constantly on the alert. And in today’s world of fake news, information and social media messages need to be verified all the time, increasing the work pressure.
Another issue arising is that social media usage is a means to trigger policy change, something that worries authorities in several places around the world. Feeding the audiences with and responding to content via social media influence public opinions, journalism and policy makers. And again, fake news is a risk here as well; it may even be intentionally spread by hostile actors to serve their own harmful ends. It means that social media is not neutral, it is always used intentionally.
All this impacts the role, work and competences required of diplomats. Social media are here to stay and will keep on advancing. The benefits seem to have outweighed the ‘costs’. Regulations by governments may be starting to contain the trouble of fake news and trolls, but it is difficult to believe that this will ever be completely resolved.
Fake news and trolls existed in the past and will continue to exist in the future.
For individual diplomats, a relevant question to answer is, to what extent will my role and duty be served by social media visibility? The roles and types of diplomats are likely to become more diverse, and some types will find it crucial to be visible and active on social media while others will prefer non-visibility. Therefore, a clearer distinction will be made between diplomats serving the interaction with the public and society and those serving the silent and hidden diplomacy and the interaction with parties and actors behind the scenes.
But visible or not, the ability to absorb, analyze and respond to information is a key competence for diplomats in general. The ability to understand the mechanisms of how the ‘viral’ world works, how ‘stories’ and ‘events’ are created and may unfold is essential for diplomats in order to be able to respond and act ‘ahead of the social media news curve’. As social media are always used intentionally and new types of social media will keep on emerging, diplomats need to have that sense of how to spot new social media developments.
Since social media have very much been and most likely will stay a channel for the public (consisting of multiple subgroups though), diplomats will need to have a good sense of what’s going on in the host country society in order to express views, spark debates and share events. Staying inside the ‘cocoon’ among fellow diplomats and government representatives will not help them be effective in a social media-sensitive society.
Finally, due to the social media-facilitated high speed news and information flows around the world, individual diplomats need to have an excellent sense of finding their own space to act (proactively) and react via social media. The time to jump on a horse to deliver a government-approved message to foreign governments and heads of state is unfortunately far too short in a world in which presidents of global powers are using a ‘bird’ to communicate with citizens at home and abroad. And that ‘bird’ speed will keep on increasing.
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About the author:Professor of International Hospitality Business and Diplomacy & Global Talent Management Innovation Hotelschool The Hague – Hospitality Research Centre
To keep up with globalisation and regional economic integration, while meeting the needs stemming from urbanisation and other socio-economic developments, countries all over the world are implementing a variety of infrastructure construction projects.
They hope these projects will make their transportation, freight forwarding and logistics services more efficient, and improve services like energy supply, telecommunications and environmental facilities. According to the latest estimates made by the Organisation of Economic Co-operation and Development (OECD), on average about US$6.9 trillion is needed to invest annually in infrastructure projects around the globe between 2016 and 2030 to support sustainable economic development[1].
A report compiled by the Asian Development Bank says that an annual average of about US$1.7 trillion would be needed to invest in infrastructure during the same period in developing Asian countries alone, in order to satisfy the region’s huge demand for infrastructural facilities including transportation[2]. The past few years have seen a marked increase in mainland Chinese enterprises investing in or subcontracting overseas infrastructure projects under the Belt and Road Initiative. This increase is bound to fuel a rise in demand for related professional services from mainland enterprises, generating opportunities for Hong Kong service providers.
Financial Planning for Infrastructure Projects
China is not only among the world’s leading destinations for foreign direct investment (FDI), it is also its second largest source of outward direct investment (ODI). In 2016, the value of China’s ODI (US$196.1 billion) exceeded that of its inward FDI (US$134 billion). It also did so in 2015, making the country a net capital exporter for two consecutive years[3]. At the same time, the focus of China’s investment activities overseas has been gradually shifting from energy and natural resources to a diverse mix of sectors.
According to figures released by the Ministry of Commerce, as at the end of 2016, the sectors which had received more than US$10 billion of ODI from China included leasing and commercial services, finance, wholesale and retail, mining, manufacturing, and information transmission/technology services, as well as infrastructure or related industries such as real estate, transportation/warehousing and postal services, construction industry, and power/heat/gas/water generation and supply.
In recent years, China’s outward investment has also become more concerned with the merger and acquisition (M&A) of infrastructure projects. One example of this is the amount of investment in M&A projects involving transportation and power/heat generation and supply, which reached US$25 billion in 2016, about 19% of China’s total ODI in M&A that year.
Patrick W Yip pointed out that the scope of professional services required for investment in infrastructure projects is different from the general projects (1).
Patrick W Yip pointed out that the scope of professional services required for investment in infrastructure projects is different from the general projects (2).
In an interview[4], Patrick W Yip, National M&A Leader and Partner (Tax & Business Advisory Services) of Deloitte China said: “Like [investment in] industries such as manufacturing or retail, investment in infrastructure projects overseas, including expressways, bridges, railways and power plants, also requires professional services such as financial, legal and accounting services, in order to ensure the sustainable development of these investment projects. However, the nature of investment in infrastructure projects is different to that in general projects, and the scope of the services required is also different.” “For instance, when mainland enterprises invest in M&A of technological projects overseas, the return on investment and depreciation period of the technology and equipment concerned will probably take about three years or so, whereas investment in infrastructure can easily take five or 10 years and the payback period often takes decades or more. In light of this, long-term development plans are required.” “The planning not only involves macro factors such as forecasts about the medium- to long-term economic and industrial growth of the country and region concerned, but also takes into consideration changes in urban development or the changing demand of facilities users as time goes by, as well as other external factors. Hence, contingency plans or measures must be formulated in the initial stage of the infrastructure investment plan in order to cope with changing environment and raise the flexibility of the investment.”
Investment in infrastructure has become one of the key areas for Chinese mainland enterprises exploring Belt and Road opportunities (1).
Yip added: “Currently, investments in infrastructure overseas by mainland enterprises are mainly concentrated in developing regions, including some Asian and African countries along the Belt and Road routes. In addition to general economic and social factors, the geopolitics and fast-changing business environment of these investment destinations may also have positive or negative impacts on the investment projects, hence uncertainty factors and risks are relatively high.”
“As such, when making financial planning for infrastructure investments, steps have to be taken to assess different investment scenarios, as well as calculate the investment risks and impacts on capital or cash flow. Deloitte China’s Hong Kong team are not only able to make use of Hong Kong’s wealth of global information resources, but also possess the professional knowledge to build the right financial models and devise sound financial plans for the infrastructure investment made by mainland and other clients.”“Also, while currently most mainland enterprises are not short of capital sources, in light of the longer investment period and more uncertainty factors, the enterprises concerned would need to formulate the right financial solutions. For instance, they can take advantage of the Hong Kong service platform to bring a number of investors together in a consortium to participate in the investment projects, while utilising different channels to arrange for appropriate financing methods or syndicated loans in a bid to alleviate investment risks by increasing the number of stakeholders.”
Using Effective Networks to Conduct Due Diligence
Encouraged by the Belt and Road Initiative, mainland enterprises are increasing direct investment activities in countries along the Belt and Road. Investment in infrastructure, including roads, marine transport, aviation, energy, and communication projects, has become one of the key areas for mainland enterprises exploring Belt and Road opportunities.
Investment in infrastructure has become one of the key areas for Chinese mainland enterprises exploring Belt and Road opportunities (2).
However, Yip warned: “It is more important for mainland enterprises investing in infrastructure and other facilities along the Belt and Road to conduct effective due diligence, than it is when investing in developed economies. In some of the Belt and Road countries which are not popular FDI destinations, the legal systems and commercial regulations are far from advanced and their foreign investment policies may change as time goes by or with a change of government, which will directly increase the risks for investors. In fact, infrastructure projects may bring about far-reaching impacts on the economic and social development of the investment destination. Some projects may also involve land acquisition, environmental planning and environmental protection which could affect a great number of stakeholders. All these elements would have an impact on the feasibility or future development of the projects.”
“In view of this, mainland investors are in dire need of effective professional services in conducting due diligence in the initial stage of their investment plan, to identify various factors that may affect the project and thus exercise effective risk control. Hong Kong industry players, who have rich international experience and extensive international networks, can act as the service leaders to support mainland investors’ infrastructure projects overseas, co-ordinating service teams in different regions to collect the necessary information and make assessments. This, coupled with the comprehensive range of professional services available in Hong Kong, gives them an edge in carrying out effective due diligence on Belt and Road projects for clients.”
Deloitte is one of the world’s Big Four accounting firms. It provides audit and assurance, tax, management consulting, risk and financial advisory and related services for clients around the globe. Deloitte China is a member firm of Deloitte set up in China, with 21 offices across the country and a team of 13,000 professionals. Its offices in Hong Kong, Shanghai, Beijing and Chongqing are its four major operating arms. Deloitte China is also a Partner of the Infrastructure Financing Facilitation Office (IFFO) set up under the leadership of the Hong Kong Monetary Authority. IFFO aims to pool together major stakeholders to jointly promote infrastructure investment and financing activities under the Belt and Road Initiative.
Note: For details of the company interviews conducted jointly by HKTDC Research and the Shanghai Municipal Commission of Commerce, please refer to other articles in the research series on Shanghai-Hong Kong Co-operation in Capturing Belt and Road Opportunities.
[1] (1) Including the amount of investment needed to achieve climate-compatible growth; (2) Source: Investing in Climate, Investing in Growth, OECD, 2017
[2] Source: Meeting Asia’s Infrastructure Needs, Asian Development Bank, 2017
[3] Source: Statistical Bulletin of China’s Outward Foreign Direct Investment 2016
[4] Representatives of HKTDC Research and Shanghai Municipal Commission of Commerce jointly conducted an interview with Deloitte China in the fourth quarter of 2017.
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Content and pictures HKTDC Hong Kong.
On the picture, Sheila Turabaz, Uzma Rathore and Ambassador Shujjat Ali Rathore. Introducing Mrs. Uzma Rathore, spouse of Mr. Shujjat Ali Rathore, Ambassador of Pakistan to the Netherlands.By Sheila Turabaz.
During the thirdDiplomats Meet and Greet – co-organizedby the Embassy of Pakistan in the Netherlands–alleyeswere onH.E. AmbassadorMr. Shujjat Ali Rathoreand his elegantwifein particular, Mrs. UzmaRathore.
Mr. Rathore has recently been appointed as theAmbassador of Pakistan to the Netherlands andthisedition of Diplomats Meet and Greet was notjusttopromote Pakistani culture anditstrade relations with the Netherlands, but italsoserved as a first officialintroductionof the new ambassadorto the diplomatic corps, internationalorganizations, the business community andacademia.
However, we must notforget the important rolethatdiplomaticspousesfulfill in supportingtheirpartner’sworkand Mrs. UzmaRathore is no exception: an eloquent andpoisedlooking ladywith a passionforeducationand a charitablemindset. I had the honour of interviewing Mrs. Rathorefor the first time since her arrivalhere in the Netherlands, duringwhichMrs. Rathoreunderlined the importance of the responsibilitiesthatdiplomaticspousesperform in foreignmissions.
The Ambassador recently presented his Letter of Credentials to His Majesty King Willem-Alexander, and has already been very proactive in his role as Ambassador of Pakistan to the Netherlands. What was your first impression of the Netherlands and the diplomatic community in particular?
“I think the Netherlands is beautiful, its people in particular: they’re very humble, very polite and very welcoming. That was my first impression. Wherever I went, — shopping for groceries for instance on my second day here in the Netherlands —I found everyone with a smile on their face and a very welcoming attitude.”
What role should an ambassador’s spouse fulfill?
“I think an ambassador’s spouse has a very important role to fulfill: we are also ambassadors of our country and we represent our country, so whatever we do, portrays an image of our home country. Whether it’s social dinners, cultural events, charity work, and etcetera. The way we carry ourselves is very important being an ambassador’s wife: I represent Pakistan here. Whenever a person will come and meet me, he or she is meeting Pakistan.”
How do you plan to support the Ambassador in his duties and how would you like to be involved?
“I am an educationist by profession. During all foreign missions I continued to practice my profession. I am active as a patron of an organization called “Pakistani Ladies Organization in the Netherlands”. I consider women’s empowerment to be really important and I would like to support this organization in organizing cultural events. Furthermore, I would also like to do some charity work in the field of education. There are many NGOs active in Islamabad and I would like to organize fundraisings for these NGOs. I will support the Ambassador in all his duties, whether it’s organizing cultural events, fundraising events for the improvement of education in Pakistan, women’s empowerment, or various other activitiesaimed towards stimulating Pakistan’s economy and trade through promoting our businesses.”
Apart from supporting the Ambassador, do you have any personal ambitions that you would like to realize during your stay in the Netherlands?
“I would like to work again. I am a trained IB (International Baccalaureate) teacher. For example, I would love to organize a student exchange program with different universities in Pakistan and in the Netherlands”.
Most ambassadors’ spouses are involved in charity work, what is your perspective on this?
“I consider charity work to be important as well. As mentioned earlier, education and women’s rights are issues that are close to my heart. Unfortunately the literacy rate of females in Pakistan is very low, especially in rural areas. I would like to promote education and contribute to women’s empowerment by participating in various organizations dedicated to tackling these issues. Moreover, I am also a member of the Ambassador Spouses’ Association (ASA). We have a meeting scheduled this month and I’m looking forward to discuss my agenda with them.”
What do you miss most about Pakistan?
“Needless to say I miss my family – especially my daughters – and my friends of course. One of my daughters works for the UNDP (United Nations Development Programme) and lives in the U.S. and my other daughter lives in Pakistan and works as a public policy analyst. We (Pakistan) are a very hospitable nation, hospitality is in our blood. I am proud of our people, our cuisine, our national dress and all other aspects of our culture.”
Is there anything you would like to share with our readers?
“The embassy’s doors are open for everyone. Being an ambassador’s wife my duty is to welcome everyone. There is room for conversations and dialogue.”
