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Nestlé outlines investment plans for India – just-food.com

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Nestlé plans to invest INR50bn (US$613m) in India by 2025 to accelerate its existing business in the country and capitalise on new growth opportunities, it has announced.

The funds will be used on capital expenditure, setting up new plants, acquisitions and an expansion of its product portfolio, CEO Mark Schneider told a press conference.

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It marks the company’s biggest investment in India since it started manufacturing there in 1961.

Since then, it has invested a total of INR80bn in the south Asian country, Nestlé confirmed to Just Food.

Schneider said the investment will also go into development works, brand building and meaningful contributions on the ground. He also said it would be “very happy” to explore opportunities for M&A.

Nestlé India chairman and managing director Suresh Narayanan said the company plans “to leverage new opportunities for growth, whether it is plant-based proteins, healthy ageing, healthy snacking, leveraging some of the Indian grains into products for the company”.

It would not comment further on details of its plans, which are subject to clearances and approvals.

India ranks among the Swiss giant’s top ten markets and sales in Indian rupees rose by 10.8% between 2020 and 2021.    

Nestlé has nine factories in India involved in powdered and liquid beverages, milk products and ice cream, nutrition and health science, prepared dishes and cooking aids and confectionery.

Nestlé India, which has headquarters based just outside of New Delhi, set up its first manufacturing facility (pictured) at Moga, Punjab, in 1961. Its sales and marketing is done from four branch offices in Delhi, Mumbai, Chennai and Kolkata.

In its half-year results, Nestlé said the South Asian market had recorded “broad-based double-digit growth, due to distribution expansion and increased brand equity”.

It said India had seen growth across most categories, led by Maggi, KitKat, Nescafé and foodservice dedicated group Nestlé Professional.

It comes after further expansion in a key emerging market earlier this year as Nestlé announced it was increasing its investment in Brazil, another of its top-ten markets.

Forty per cent of the investment, BRL730m (US$135.3m), was set to be funneled into a new pet-food factory in Vargeão, south-eastern Brazil. The rest was to be spent on projects to boost new production lines, efficiency, technology and on efforts linked to environmental sustainability.

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Proposed sovereignty act could scare off investment: Calgary chamber – Calgary Sun

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‘We still don’t see how an act like this contributes to economic growth,’ said chamber President and CEO Deborah Yedlin

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The Alberta Sovereignty within a United Canada Act, tabled by Premier Danielle Smith on Tuesday, could drive investment out of the province, the Calgary Chamber of Commerce warns.

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Chamber president and CEO Deborah Yedlin said the bill, which would allow cabinet to issue directives to disregard federal initiatives, would not help businesses attract investment or employees should it pass the legislature.

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“We still don’t see how an act like this contributes to economic growth,” said Yedlin, adding that Alberta competes around the world for labour and capital, and that any hints of uncompetitiveness or uncertainty could cause the province to be seen as an unfavourable jurisdiction to invest in.

The act was the keystone policy of Smith’s leadership campaign this summer. If passed, Bill 1 would allow ministers to bring motions forward to the Alberta legislature to debate whether a federal initiative is unconstitutional or harmful to Alberta. If the initiative is deemed as such, the legislature could pass a resolution that would direct cabinet to take action, which could include issuing directives to public entities to not enforce the federal policy.

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Government documents argue the bill would not do anything to harm Alberta’s economy. The premier’s office did not return requests for comment Wednesday.

  1. Alberta Premier Danielle Smith makes her way to a press conference after the Speech from the Throne in Edmonton, on Tuesday, November 29, 2022.

    Smith introduces flagship Alberta Sovereignty Within a United Canada Act, giving cabinet new power

  2. Prime Minister Justin Trudeau at the APEC summit in Bangkok, Thailand on Friday, Nov. 18, 2022. THE CANADIAN PRESS/Sean Kilpatrick

    Trudeau says Ottawa ‘not looking for a fight’ on Alberta Sovereignty Act

  3. Alberta Premier Danielle Smith speaks at a press conference after the Speech from the Throne in Edmonton, on Tuesday, November 29, 2022.

    A look at how Alberta’s proposed sovereignty act would work

  4. The Fourth Session of the 30th Legislature opened on November 29, 2022, with Her Honour the Honourable Salma Lakhani, Lieutenant Governor of Alberta, delivering the Throne Speech.

    Alberta Lt.-Gov. Salma Lakhani delivers Throne Speech focused on affordability, health-care reform, jobs, and fighting Ottawa

Speaking Tuesday, Smith said the bill is intended to put Ottawa on notice about provincial jurisdiction and ensure they are equal partners within Canada’s Constitution.

Yedlin argued the act does not allow for constructive conversations with the federal government and that all levels of government need to collaborate to make Alberta an attractive place to invest and to work, stating the province has to compete with jurisdictions from all corners of the globe.

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“This could cause us problems within Canada with other provinces, as well as with Ottawa. That’s not what we need right now,” said Yedlin. “We have worked with Ottawa in the past, perhaps not to Premier Smith’s satisfaction, but I would argue that, you know, let’s dial back.”

Yedlin said Quebec lost investment when that province grappled with the idea of separation. She said that while Smith’s bill makes it clear it is not about separating, just the idea of uncertainty could cause investors to look elsewhere.

Calgary Chamber CEO Deborah Yedlin.
Calgary Chamber CEO Deborah Yedlin. Azin Ghaffari/Postmedia

Lisa Baiton, president and CEO of the Canadian Association of Petroleum Producers, said they are taking time to review the bill with their members. She said they are concerned about any policy that has the potential to create uncertainty for investors.

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“It is important for governments at all levels to work together with the industry in order to attract investment back into Canada,” said Baiton.

Finance Minister Travis Toews was critical of the sovereignty act while he ran against Smith in the leadership contest. At the time, he argued the bill would bring “economic chaos” to Alberta.

On Wednesday, he acknowledged he had legitimate concerns during the summer but said he has since had full opportunity to participate in the development of the bill along with his caucus colleagues, and that it addresses his previous concerns.

For me to support this bill it has to be constitutional, support the rule of law and not create business uncertainty. This bill, as proposed, addresses these concerns,” Toews said in a statement.

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Alberta Finance Minister Travis Toews, file photo.
Alberta Finance Minister Travis Toews, file photo. Darren Makowichuk/Postmedia

Meanwhile, several groups that could fall under the “public entity” definition of the act and could be subject to ministerial directives said they need to read the bill further before providing comment.

University of Calgary representatives said the school was reviewing the bill and will seek clarity on its application if passed. Mount Royal University representatives said they, too, are reviewing the bill and will work with the province on how it applies to post-secondary institutions.

The Rural Municipalities of Alberta declined to provide comment. While speaking at an unrelated news conference, Leduc Mayor Bob Young said they hadn’t had a chance to look at the bill and how it would affect municipalities.

Alberta Municipalities said they are reviewing the bill and that it appears to allow the cabinet to direct municipalities to not enforce federal laws. They said they may have more to say once their analysts have fully reviewed the legislation.

dshort@postmedia.com

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Clinton Orr, Canaccord Genuity, earns Canada’s Top Wealth Advisor award

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Clinton Orr is a Senior Portfolio Manager and Senior Wealth Advisor, CFP, CIM, DMA, DMS, with Canaccord Genuity Wealth Management. Recently, he was recognized as one of Canada’s Top Wealth Advisors in the province. The recognition is based on an independent affirmation of his ongoing commitment to his clients and their financial success.

This prestigious award is given based on a number of factors, including client service and best practices, industry experience, and growth. This has established Orr and his firm as a leader in the wealth management industry.

Canada’s Top Wealth Advisors ranking is developed and distributed by SHOOK Research, and is based on in-person, virtual, and telephone due diligence meetings and ranking algorithms. This algorithm factors in client retention, industry experience, review of compliance records, and firm nominations.

Quantitative criteria include assets that are under management as well as revenue generated for their firms. Investment performance is not considered criteria, because client objectives and risk tolerances vary, and advisors often don’t have audited performance reports.

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Who is Clinton Orr?

Clinton Orr is a financial services professional who earned his start in the industry in 2003. He is a founding member of Becker Orr Wealth Management, a branch of Canaccord Wealth Management, and is a Senior Wealth Advisor and Senior Portfolio Manager with Canaccord Genuity.

Clinton Orr has been able to successfully establish relationships with his clients, who consist of business owners, retirees and professionals. His success in the wealth management space has been achieved through dedication, hard work, a love for the profession, and genuine compassion and caring for his clients.

Orr has been able to set himself apart by developing a strong team and utilizing a unique process called Financial Architecture, which allows him and his team to build customized financial plans that address all of their clients’ needs.

Orr earned a Bachelor’s of Commerce degree and has earned professional designations in financial planning, investment management, and derivatives markets. He has previously been recognized for his efforts in 2021, winning the Wealth Management Advisor of the Year for Canada, as a part of Finance Monthly’s Global Awards. He was also the central region winner of the Client Dedication Award presented by Canaccord Genuity.

Orr is a regular contributor to the Clipper Weekly, providing his professional insights in a regular column that is published monthly. He also makes regular appearances on Global News Winnipeg.

Orr lives with his wife, Jodi, in rural Manitoba where they operate their own charitable initiative, the Pet Life Animal Fund. Both are passionate dog lovers who enjoy giving back.

When Clinton Orr isn’t working, he trains in Jiu-Jitsu and currently holds a blue belt. He and his wife also enjoy spending plenty of time together watching the Winnipeg Jets and the Winnipeg Blue Bombers.

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Foreign investment in Latin America still below pre-pandemic levels

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“It is necessary to articulate productive development policies with the attraction of high productivity investments,” Salazar-Xirinachs said

Despite a 40.7% growth from 2021, Foreign Direct Investments (FDI) in Latin America continue to be below the levels recorded before the COVID-19 pandemic, according to a report released Tuesday in Santiago by the Economic Commission for Latin America and the Caribbean (ECLAC).

”This weak recovery shows how difficult it is for the region as a whole to reposition itself as an attractive destination for the establishment of new operations of transnational companies, after the end of the boom cycle of the price of raw materials and (of) high growth rates,“ ECLAC’s report stated.

The region also lost its share as a destination for global investments, representing 9% of the total, ”one of the lowest percentages in the last ten years and far from the 14% recorded in 2013 and 2014.“

Projections are far from encouraging. The region received US$ 142.794 billion in FDI in 2021, 40.7% more than in 2020. However, these levels are still 9.55% below 2019’s US$ 157.689 billion.

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As a whole, Latin America and the Caribbean accounted for only 9% of total global FDI, one of the lowest percentages in the last ten years and far from the 14% recorded in 2013 and 2014. ”In other words, even if 2021 is considered a year of recovery, the trend of almost uninterrupted fall identified in Latin America and the Caribbean since 2012 is not modified; given the global outlook for 2022, it is possible that this fall will continue,“ the ECLAC document cited in its conclusions.

”In a region with low overall levels of investment, foreign direct investment is fundamental for the design of a productive policy,” ECLAC Executive Secretary José Manuel Salazar-Xirinachs said in the report.

Brazil (33%), Mexico (23%), Chile (11%), Colombia (7%), Peru (5%), and Argentina (5%) were the countries to receive the most FDI in 2021.

In addition to Brazil, which always has a high incidence due to the size of its economy, the high growth of FDI in Chile (66%) and Peru (919%) in South America and Guatemala (273%) and Panama (163%) in Central America, explained most of the variation year on year, according to ECLAC.

The main investors came from the European Union and the United States, representing 36% and 34% of the total, respectively. Meanwhile, the number of mergers and acquisitions increased by 33%, which remains “one of the lowest levels of the decade.”

“In a global context in which mergers and acquisitions grew very significantly, in the region they only recovered from the fall that occurred in 2020,” ECLAC noted.

Foreign investors are particularly interested in electricity, gas, water, telecommunications, and oil refining.

In Central America, Costa Rica was the main recipient of foreign funding for the second consecutive year, while Guyana did the same in the Caribbean, with the arrival of the oil capital, surpassing the Dominican Republic, the leader in previous years. Guatemala’s “large-scale acquisition” in the telecommunications sector was also highlighted.

“To achieve a positive impact of Foreign Direct Investment, it is necessary to articulate productive development policies with the attraction of high productivity investments, in activities that support virtuous development processes in terms of inclusiveness, employment quality, environmental sustainability, innovation, and technological complexity,” Salazar-Xirinachs also said.

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