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13-11-2013, 04:05 PM
(This post was last modified: 15-11-2013, 03:35 PM by CityFarmer.)
GM to move international HQ to Singapore from China
SINGAPORE — General Motors said today (Nov 13) that it will move its international operations headquarters to Singapore from Shanghai in the second quarter of 2014.
The shift comes after GM split its China operations from its international unit earlier this year, saying that would make it easier to focus on the Chinese auto market, the world’s largest.
The move is likely to come as a blow to Shanghai, which has been trying to compete with the likes of Singapore and Hong Kong as a place for multinational companies to base their Asia headquarters.
GM said it had considered other locations for the relocation and looked into keeping the headquarters in Shanghai, but eventually decided on Singapore.
“It offers several advantages, including greater proximity to key markets such as ASEAN and India, the Middle East and Africa,” said Ms Lori Arpin, vice president of communications at GM International Operations.
Many multinational companies are lured to Singapore’s shores by its competitive tax rates, use of the English language, skilled workforce and high standards of living.
...
http://www.todayonline.com/business/gm-m...pore-china
SINGAPORE — General Motors said today (Nov 13) that it will move its international operations headquarters to Singapore from Shanghai in the second quarter of 2014.
The shift comes after GM split its China operations from its international unit earlier this year, saying that would make it easier to focus on the Chinese auto market, the world’s largest.
The move is likely to come as a blow to Shanghai, which has been trying to compete with the likes of Singapore and Hong Kong as a place for multinational companies to base their Asia headquarters.
GM said it had considered other locations for the relocation and looked into keeping the headquarters in Shanghai, but eventually decided on Singapore.
“It offers several advantages, including greater proximity to key markets such as ASEAN and India, the Middle East and Africa,” said Ms Lori Arpin, vice president of communications at GM International Operations.
Many multinational companies are lured to Singapore’s shores by its competitive tax rates, use of the English language, skilled workforce and high standards of living.
...
http://www.todayonline.com/business/gm-m...pore-china
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