DP World

• Mervel Kotzebue-Fleur, General Manager of DP World Paramaribo, has been named winner of the 2023 Maritime Award of the Americas in the Outstanding Women in the Maritime and Port Sector category.
• “This award reflects my passion for the maritime industry and serves a reminder to continue to strive as a leader and ambassador for equality.”
  Kotzebue-Fleur is the first woman from Suriname to be named to this prestigious award.
• She was nominated by the Women in Maritime Association Caribbean (WiMAC), which works to foster the development and participation of women in the maritime sector and contribute to the growth of the industry.
• This year, 37 top-level nominations from 13 countries in North America, Latin America and the Caribbean were received.

• A Chinese private equity firm, Primavera Capital Group, acquired the well-known test preparation company Princeton Review and an online learning platform, Tutor.com, in May 2023.
• What remains unclear, however, is if this seemingly routine business acquisition was reviewed by the Committee on Foreign Investment in the U.S., which has authority to examine transactions involving foreign investment.
• The committee is largely prohibited from publicly disclosing any information filed with it, including if it is reviewing a transaction or if one was referred for review.
• While the committee is hardly a household name, its mission and expanding oversight have important implications for the U.S. economy and national security.

Government oversight

• The Committee on Foreign Investment, a U.S. government interagency committee established in 1975 by President Gerald Ford, is tasked with studying and coordinating the implementation of policy on foreign investment in America.
• Investment by foreign countries greatly benefits the U.S., supporting 10.1% of the total labor force in 2019.
• Yet beginning in the 1980s, the federal government grew increasingly concerned about potentially harmful effects of foreign investment in the U.S. For example, if a foreign firm gets control of sensitive technologies, it could hurt national competitive advantages or even threaten national security.
• Real estate transactions are generally scrutinized only when a transaction involves land that is either close to a military base or near an airport or seaport.

Vetting foreign investments

• The purchase of Fairfield Semiconductor was considered a sensitive industry, with potential defense applications, and prompted Congress in 1988 to pass the Exon-Florio amendment to the Defense Production Act of 1950.
• This amendment empowered the committee to not just review foreign investment deals but also to recommend rejecting them.
• Acting on its recommendation, a U.S. president could block a foreign transaction on “national security” grounds.

Strengthening the committee

• Because of terrorism-related concerns, Sen. Chuck Schumer led a campaign against this proposal and the transaction was eventually called off, even though it had initially been approved by both the committee and President George W. Bush.
• In the aftermath of this controversy, lawmakers passed the Foreign Investment and National Security Act in 2007, giving Congress greater oversight of the committee to ensure that potential acquisitions were adequately reviewed.
• In addition, it required the committee to scrutinize all foreign investment deals in which the pertinent overseas entity is either owned or controlled by a foreign power.

National security concerns

• Over time, the Committee on Foreign Investment has been given more power to reflect and act on the political and economic concerns of the U.S. China, for example, appears to have global ambitions to replace the U.S.-led world order.
• In response to these concerns, concrete steps have been taken by U.S. lawmakers to increase the scope of what the committee is able to do.
• The Committee on Foreign Investment is now more powerful than it has ever been, and it is a gatekeeper on major foreign investment deals.
• The U.S. is not alone in examining foreign investment deals for national security implications.

• DUBAI, UAE, May 2, 2023 /PRNewswire/ -- A leading provider of worldwide smart end-to-end supply chain logistics, DP World has onboarded Ex-Amazon Techie, Sangam Reddy as the Vice President of Engineering; Purple Quarter closed the leadership mandate.
• Pradeep Desai, CTO, DP World, commented, "We are delighted to welcome Sangam to the team.
• As Global VP of Engineering, Sangam will be responsible for Market Access, E-Commerce and Data chain solutions.
• Purple Quarter's support throughout the process is commendable," shared Sangam Reddy.

• TAMPA, Fla., April 17, 2023 /PRNewswire/ -- BlueGrace Logistics (BlueGrace), one of the U.S.'s largest Third-Party Logistics (3PL) providers, today announced plans to expand cross-border service offerings with the establishment of its Mexico office.
• New location will support an existing portfolio of shippers moving freight inter and intra Mexico beginning late 2023.
• "As more companies look for nearshoring opportunities, BlueGrace is aligning itself with shippers' needs," said Bobby Harris, Founder and CEO of BlueGrace Logistics.
• Fernandez has successfully opened and managed a Mexican affiliate for Coyote Logistics, serving as Mexico Country Manager and Director of Mexico Business Strategy.