Wall Street Business Radio
Janet Walsh, CEO and President of Birchtree Global, LLC will be interviewed on Wall Street Business Radio on July 1. She will be speaking on success characteristics of small and medium sized businesses expanding overseas. Joyce Bone will be the interviewer. Clips from the program will be provided and posted on the Birchtree Global website.
Wall Street Business Radio
Janet Walsh, CEO and President of Birchtree Global, LLC will be interviewed on Wall Street Business Radio on July 1. She will be speaking on success characteristics of small and medium sized businesses expanding overseas. Joyce Bone will be the interviewer. Clips from the program will be provided and posted on the Birchtree Global website.
Are you aware of the latest changes in Chinese, Indian tax, legal and HR requirements?
If not, join us for our next executive webinar on Wednesday, May 23 from 12:00 PM EDT to 1:00 PM EDT on, “2012 Changes in the Chinese, Indian and ASEAN Business, HR, Legal and Tax Environment”, with Daisy Huang, Asian Corporate Audit Leader for Dezan Shira, one of Asia’s most prestigious tax and legal firms. As you may have heard profound legal, tax and HR changes have occurred in China and India this year. In her presentation Daisy will explain the impact of these changes and provide insight into the Asian business environment. If you would like to attend, please email: info@birchtreeglobal.com, this program will be sold out so register early. This program is approved for 1 GPHR/SPHR credit.
Birchtree Global News
Birchtree Global, LLC to showcase Dezan Shira’s research
Janet Walsh met with Chris Devonshire-Ellis, Principal & Founding Partner of Dezan Shira & Associates financial firm and publisher of, Asia Briefing Media Ltd. to discuss development opportunities in Asia and India. Chris commented that opportunities for companies in the medical equipment, devices and manufacturing area were strong and prospects for growth were increasing largely due to the ageing Chinese population, and heavy long term medical needs (implications from smoking and industrial pollution). He also noted that there was a strong demand for manufactured goods as the number of middle class consumers continue to grow and expand.
Birchtree Global and Dezan Shira will be partnering to provide our clients a series of updated webinars on foreign direct investment in Asia and India in the coming months.
Our first webinar will be on May 23, and presented by Daisy Huang. Daisy is the head of Audit and Compliance for the Dezan Shira South China practice group. Daisy’s program will highlight; Important changes in China and the ASEAN region-economic, demographic, compliance and cost issues; Daisy will also discuss, practical considerations in establishing a business in Asia. This webinar is designed for C-Suite leaders and executives who need to have a clear understanding of the recent changes in Chinese legislation and how they will affect foreign direct investment-either established or proposed. If you are interested in attending, please email info@birchtreeglobal.com for additional information. This webinar is free to our clients and friends and will be HRCI Certified.
The Global 20© in Cuba
Janet Walsh recently returned from a fact finding trip to Cuba, focusing on potential foreign direct investment by US firms post embargo. Some facts of interest include: The US is Cuba’s sixth largest trading partner with over $350,000,000 in agricultural supplies, food and medicines sold to the country-cash payments in advance of sending product. In the last year 500,000 US citizens have visited Cuba on family, trade, tourism activities. In 2010 facing a shortage of funds, Cuba privatized ownership of small businesses, some property, cars and, at the same time, terminated 500,000 employees from public employment. The average wage is $30 USD/Month and the literacy rate is 98%. Havana is a 40 minute flight direct from Miami.
The model for growth in Cuba looks like the one used by China in the early 80’s-FDI used to develop infrastructure and technology in a country that lacks everything. Cuba needs infrastructure, building products, IT and services, medical equipment and drugs, food, paint, and hospitality services
For companies interesting in reviewing more details from this trip contact info@birchtreeglobal to access the webinar.
Foreign Direct Investment Notes on China and Cuba
Global Foreign Direct Investment Notes-China:
Many of our clients are establishing operations in Asia. You may be interested in the remarks by Naoyuki Shinohara, International Monetary Fund Deputy Managing Director. He supports the conclusions by Chris Devonshire-Ellis regarding targeted growth opportunities in China. On March 27, 2012 he concluded:
1. Prospects for the global recovery have improved, but downside risks still loom large
2. Growth in Asia is set to gain momentum, but exposure to outside risks are significant
3. Key near-term challenges is to calibrate the insurance still needed to support stable, non-inflationary growth
4. Greater regional integration can support economic rebalancing and make Asia more resilient to external shocks
Director Shinohara’s full text comments can be found at: http://www.imf.org/external/np/speeches/2012/032712.htm
Global Foreign Direct Investment Notes-Cuba:
Cuba is known for medical services. There is a concentrated effort by the Cuban government to establish Cuba as a leader in medical services. This effort has resulted in medical services surpassing tourism as the largest foreign exchange activity1. Two areas medical tourism and exporting medical professionals are worth mentioning.
Medical tourism has increased in Cuba attracting foreign patients who are treated in hospitals and clinics that are part of Cuba’s National Health System. As reported by A. Gabriele in Economics, Management & Financial Services (2010) 1, rehabilitation therapies for drugs and alcohol addicts, treatment of pigment rethinosis, vitiligo, psoriasis, alopecia (hair loss); surgical and clinical programs, including esthetical surgery and, neurological restoration; health checks and check-ups are among Cuba’s specialty treatments.
Cuba has a vigorous program to export medical knowledge workers. It is estimated that over 100,000 Cuban health workers have worked outside of Cuba for extended assignments since the early 1960’s.1 A loosening of trade and travel restrictions may result in these workers remaining outside of Cuba, creating a financial and service “brain drain”.
1. GABRIELE, A. (2010). CUBA: THE SURGE OF EXPORT-ORIENTED SERVICES. Economics, Management & Financial Markets, 5(4), 151-175.
The Global 20(c) in Cuba
US citizens are prohibited from doing business in Cuba but that doesn’t stop some 500,000 US citizens a year from visiting the island. Nor does it stop trade with Cuba, the US being Cuba’s 6th largest trading partner generating 350M in trade during 2011 (2012 US Census-Trade in Goods with Cuba-2011).
I just returned from an eight day trip across Cuba as part of an “educational” activity that included meeting with businesspeople, political party members, government bureaucrats, educators, and ordinary people. Our traveling party consisted of two great grandchildren of Teddy Roosevelt, two states attorney generals, three doctors, a pediatrician, two famous rock stars, several teachers and professors, a farmer, a videographer, a college student, a few lawyers and accounting professionals, several investment bankers, wives and husbands among others. The purpose of the trip was in TR’s words, “A Strenuous Life Adventure” designed to develop our knowledge of Cuba, it’s people, history and future.
It started as a typical flight…board an American Airlines plane in Miami, a 40 minute flight, up and down, just time for a Coke. At customs in Havana International airport in the special section for American arrivals, friendly people, a brief walk through customs making sure to smile into the Logitech Cameras for facial recognition, a cheery, “Welcome to Cuba” and my passport was handed back, the door buzzed and I was disgorged into the hot sunny weather that is Havana in February.
We changed our money to Cuban Convertible Pesos or “Cuc’s” as they are called. This is required as Cuba has a dual monetary system, one for foreigners and one for locals. Cubans are no strangers to Foreign Direct Investment, with Canada, Europe and Venezuela being among the top investors. Given the likely scenario that the US will loosen the trade embargo with Cuba I wanted to see for myself what potential opportunities might exist as well as to meet individuals to whom we might access to provide client services should that day arise. I was also interested in determining if it would be feasible to conduct my Doctoral dissertation on the rise of private business ownership in Cuba. For the last two years Cuban’s have been able to own private property as well as run their own businesses and this struck me as an opportunity to apply our existing knowledge of successful global expansion to this subject.
We were informed by our guide that we were not restricted from taking photos, going anywhere or talking to anyone, but we should advise them if we intended to deviate from our planned schedule so as to not hold up the group. As you might imagine, this group took full advantage of the opportunity to talk to people and initiate conversations which were forthright and direct…as in “Why do you restrict Internet access to people?” (Answer from the party leaders, “We limit access to doctors, educators and certain business people because we do not have the band width to allow unrestricted access to what is primarily a social media tool. We are working with Venezuela to expand the infrastructure.”)
The first day ended with a check in to the hotel and a childrens’s musical play which had us literally dancing in the isles accompanied by some 30 kids ranging in ages from 5-18. Note to potential Cuba travelers..learn to dance, you’ll use this skill every day!
I’ll be posting more about this exciting trip in the coming weeks.
For those of you who would like more background information and an in depth review of business issues, join us for “Strategic Business and HR Considerations in Establishing a Business in Cuba”, an HRCI certified GPHR, SPHR webinar program, on March 28th, from 12:00 Noon to 1:00 PM for Part 1, and on April 4, from Noon to 1:00 PM for Part 2. The cost is $40 for both parts. To sign up email: info@birchtreeglobal.com with you contact details and we’ll send you a link.