Wednesday, November 13, 2013

GM to move to international headquarters in Singapore from China

GM to move to international headquarters in Singapore from China
General Motors co said on Wednesday it seat international activities 2014 will be moved to Singapore from Shanghai in the second quarter.

The move comes after GM split operative China from its international units this year say the specializes in the Chinese automobile market, which would facilitate world's largest.

Moving is expected to support headquartered Asia as come blow to Shanghai, attempted with the likes of Singapore and Hong Kong as a location for multinational companies to compete.

GM said it had as other locations for the relocation and looked to keep the headquarters in Shanghai, but finally decided on Singapore.

"It offers several advantages, including greater proximity to CIO key markets like ASEAN and India, the Middle East and Africa," said Lori Arpin, Vice President communications for GM's international operations.

Many multinational companies are lured to Singapore's shores, with its competitive tax rates, use of English, skilled workers and high standard of living.

Its headline corporate tax rate is 17 percent, although a lower rate of companies, their regional headquarters there base can benefit if certain criteria such as job creation and spend a certain amount meet at money in the City-State.

Singapore is one of the most expensive countries in the world to own a car, and is not known as an important basis for car manufacturers.

General Motors said that it had around 120 employees in Singapore the "key parts" of the company in the region, Asia-Pacific, Africa, the Middle East and Chevrolet and Cadillac Europe would monitor.

The new base but will house some of its sales and marketing, finance, government relations, human resources, information technology and legal functions.

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