Ge Hongbing, Executive President and Chairman of Xiezhong International Holdings Limited, shared the important decision-making points and experiences of building factories overseas and successfully achieving revenue targets, providing detailed information and replicable practices for entrepreneurs to conduct business in Morocco.
The reasons for choosing Morocco are as follows.
1. There are superior geographical location, convenient transportation, and continuously strengthened infrastructure construction.
2. It has a certain foundation in the automotive industry.
3. There are high degree of economic openness and clear development planning.
4. It provides certain taxation and financial subsidies.
5. The quality of the labor force is relatively high, and the labor cost is competitive.
6. The political situation is stable and it has friendly relations with China.
The problems that enterprises may face when going global include the following points.
1. Enterprises need to have a high demand for evidence awareness in the process of foreign-related communication.
2. Enterprises need to have high ability to provide evidence when encountering foreign-related disputes.
3. The laws and regulations are complex and diverse, with high compliance requirements.
4. There are significant cultural differences and management difficulties between different countries and regions.
The daily response experiences include as follows.
1. According to the regulatory requirements of the overseas destination country, we should improve the corporate governance structure and decision-making system in a targeted manner.
2. We should establish an integrated internal and external legal team, as well as strengthen the market risk due diligence and internal risk identification and assessment.
3. We should establish and improve the compliance system and develop supporting compliance regulations, with a focus on asset management, contract management, and personnel management.
4. We should fix the vulnerabilities in the main business and establish related compliance review mechanism.
5. We should establish a compliance culture construction and compliance talent training mechanism, introducing third-party professionals to assist.
6. We should establish external communication response mechanism and dispute resolution mechanism.
