Yes. 2009 was a low point in recent years for global cross-border foreign investment flows, and the next few years appear to be trending upwards. This is good news for those of us engaged in advising companies on their cross-border investment and contract issues, though this could also suggest more competition and possibly higher valuations for companies that wait too long to implement their next phase of international expansion.

The following chart (published by UNCTAD) shows different scenarios for overall global foreign investment from 2010 to 2012. Even using more conservative economic assumptions, the expected recovery in FDI flows over the next few years from the bottom in 2009 is substantial, not back to the 2006-2007 peaks but yet surprisingly within range.

Emerging markets are a substantial M&A focus. According to Dealogic data, M&A activity in emerging markets reached $628.9 billion in the first nine months of 2010, up 62 percent from the same period in 2009. Significantly, M&A activity in emerging markets exceeded European M&A volume for the first time on record, according to Dealogic data. Many are seeking to take advantage of higher growth rates than can be found at home.

As a sampling of InternationalCounsel's own recent legal advisory work, we are currently assisting a major US company with entity establishment, distribution and employment agreement and related labor issues in Panama, a regional distribution center for many companies. We have also seen some added matters from India, are assisting with tax, agreement changes and real property issues for a major US franchisor in countries as diverse as Argentina, Israel, India, Pakistan, Indonesia, Thailand and Egypt,, are advising an international internet service provider on Europe/EMEA credit card payment structures, are working with a Tunisia-based company with  its US set-up and operations and are active again with a US company's structure and documentation of a China joint venture being held by a Hong Kong company, both of which we are establishing.  
 
The latter project makes good use of our China experience, using our Netherlands-based colleague's cross-border tax capabilities, our Hong Kong colleague's corporate set-up input, and one of our US lawyer's long history with China, including while based in Hong Kong as head of Asia-Pacific legal for a major telecommunications company 

Billed as "the most senior treasury event in the world," Jan was part of three separate panels on Asia, Eastern Europe and Latin America, with a focus on tax and cross-border funds transfers. Jan also presented for EuroFInance this past summer  at Cambridge University on tax and legal aspects of cross border financing

  David Laverty is chairing the Association for Corporate Growth's Global Expansion Committee, which is looking into establishing new international chapters of this private equity and deal-maker association

Two US M&A briefings and receptions were held during the first week of October in Mumbai to further explore the potential for an ACG chapter in Mumbai. David had organized the first of such briefings in Mumbai in late April, 2010

The IPBA is hosting numerous Asia-Pacific seminars over the next few months, including one being organized by David in Chicago on February 1. David is also working with the IPBA to welcome as many in-house counsel as possible into the IPBA membership, including through partnerships with corporate counsel associations