          
          
          
          
                 A SMORGASBORD OF OPPORTUNITIES AND IDEAS
          
          
          Have Your Own French Winery
          
               Have you ever thought about making your own wine? 
          Even better, what about making money by making wine in
          a beautiful location? 
               In France we have discovered a true contrarian
          entrepreneurship opportunity in the most famous wine
          country in the world. 
               Despite the weak dollar, it is still possible to
          buy a working chateau, complete with vineyards, in the
          wine country around Bordeaux for the price of a house
          in many American suburbs.  With a bit of work -- and
          providing you don't drink up your profits -- it is
          possible to earn a handsome return on your investment
          of as much as 10% and over. 
               Wine-making may strike you as an odd way to make
          money in a recession.  North American consumption of
          table wines, for example, tends to fluctuate with the
          economic climate. 
               Still, there are powerful trends that support our
          view that wine-making can be profitable now.  We expect
          the recession to ease into a slow but steady economic
          recovery over the next few years.  We also anticipate a
          strengthening of the U.S dollar, which will cheapen
          imports from France and other European countries.  This
          translates into renewed demand. 
               The strongest argument, however, lies in an
          inescapable demographic trend.  The number of older
          people is increasing dramatically in all industrialized
          countries.  As statistics have shown, consumption of
          fine and quality table wine proportionately increases
          as people grow older -- along with their ability to
          afford it.  This means that the market for fine wines
          is bound to expand in the decade ahead. 
               There is still no way of buying really fine wine
          except at high prices.  The price for Bordeaux wines
          very much depends on the chateau and the vintage. 
          First-rate Bordeaux wines can cost anywhere between
          US$500 and US$5,000 a case.  The longer it is stored,
          the better -- and more valuable -- a Bordeaux wine
          tends to become.  
               A small but excellent private vineyard could be a
          gold mine for an entrepreneur able to tap into the rare
          wine market.
               As with any investment, the key to investing in a
          chateau is a thorough knowledge of prices and local
          conditions.  Here are some reasonably priced chateaux
          recently on the market in the area around Bordeaux --
          the world's most famous wine region.  
               Typically, a chateau will have a few handsome
          buildings on the property as well as a chais, a long
          shed-like building, replete with wine-making equipment. 
          Depending on the price, you may get anywhere from five
          to 50 hectares. 
               The cheapest chateau you're likely to find will
          probably run upward of US$500,000.  For that price,
          however, you can be a true vintner, one of the elite
          fraternity of wine growers in the region. 
               Each area around Bordeaux bears a distinct name or
          appellation d'origine controlle (AOC) referring to its
          region.  Some have a classification, legacies of a
          system set up by Napoleon III in 1855 for the
          Exposition Universelle de Paris. 
               The wines which are usually those able to command
          the highest prices, originally were classified for the
          exposition and known as crus classes.  Among these, you
          will find first cru, second cru, grand cru, bourgeois
          cru. 
               Although classification and taste are related,
          skill in mixing grapes, tending fields and producing
          wine play a critical role in making a quality wine.  
               (Keep in mind that it is extremely difficult to
          get a classification, or to get one changed.  Chateau
          Mouton Rothschild, for example, was bought by the
          Rothschilds in 1853 and was classed as a second cru in
          1855, the year of the exposition.  It was granted the
          designation grand cru in 1973, after more than a
          century of entreaties from its owners.)
               The value of land is ultimately determined by the
          value of the wine in the marketplace.  That, in turn,
          is determined by its classification, the skill of the
          vintner and market conditions.  
               Land normally trades hands according to a certain
          price per hectare.  Some areas will be better buys than
          others.  Good deals will be found in vineyards with the
          Bordeaux and St. Emilion appellations.  Bordeaux
          superieure is selling for anywhere from FFr150,000 to
          FFr300,000 (about US$30,000 to US$60,000) a hectare,
          while Saint Emilion is selling for about FFr800,000 a
          hectare (about US$160,000).  At those prices, it is
          quite possible to earn an average return of more than
          10%, depending on your business and wine-making skills. 
          (If you yourself are not an expert, you can hire an
          experienced vintner.)
               Houses located on vineyards in France are usually
          well appointed and sometimes genuinely magnificent
          homes, making them an appealing investment even apart
          from the precious soils and vines that surround them. 
               Our researchers discovered a vineyard at the edge
          of the town of St. Emilion.  Possessing one and a half
          hectares with the AOC of St. Emilion and seven hectares
          with the AOC Bordeaux, this fine property has two
          winterized houses with fine views across a scenic
          valley.  
               It also featured a chais and wine-making
          equipment.  The asking price was FFr5 million (about
          US$1 million), including the seller's commission.  
               If your budget is slightly higher, here's another
          recent offering.  Located ten kilometers outside St.
          Emilion, complete with pool and a covered terrace, a
          modern, Santa Barbara-style home is being offered.  
               The adjoining 12 acres of land include 10 acres of
          Bordeaux superieure vineyards, a stone house, a chais,
          and an additional structure for storing materials.  The
          asking price for this property was FFr6.5 million (or
          about US$1.2 million). 
               A large house situated on over four hectares of
          prime St. Emilion vineyards for FFr3.5 million (about
          US$700,000).  This particular property did not have
          facilities for making wine, but the vines are planted
          and ready to tend. 
               Offered for FFr4 million (about US$800,000) not
          far from Bordeaux near the Castillon River, was a large
          home with a garden and courtyard, chais and several
          other buildings for making wine, situated on almost 14
          hectares of land, 11 of them planted with grapes for
          Bordeaux superieure, Cotes de Castillon wine.   
               Other appellations will command different prices. 
          Land with a Saint Emilion Grand Cru designation is
          currently priced at anywhere from 900,000 to 1,500,000
          francs (about $180,000 to $300,000) per hectare. 
               Keep in mind, however, that a good Saint Emilion
          is one of the best wines on earth.  Land designated
          Satelite St. Emilion can be had for somewhat less,
          anywhere from FFr500,000 to FFr700,000 per hectare
          (about US$100,000 to US$175,000).
               When evaluating a vineyard, you should check out
          the condition of the vines and grapes and existence of
          good drainage.  Vines grow best in sandy soil.  It
          takes considerable experience to recognize good land
          and good vines.  Expert vintners recognize good land by
          tasting the soil.  You may prefer to sample the ready
          product it produces.  (Make sure that the wine you
          sample actually came from the land you consider
          buying.) 
               For further information on property in and around
          St. Emilion, contact Yves Blanc, Associe, St. Emilion
          Immobilier, 33, Rue Guadet, 33330 St.Emilion, France;
          tel. 57-51-54-73; fax 57-74-4740.  Monsieur Blanc not
          only is the owner of the real estate firm St. Emilion
          Immobilier but also the proprietor of three chateaux in
          the region, including the well-reviewed Chateau Haut-
          Brisson. 
          
          
          Arab World Profits Are Still Big
          
               No longer the "hot fad" market that it was when
          the oil boom was on, the Arab market is still a
          significant and profitable market for those who have
          continued to pursue opportunities there.  In fact, the
          profits are often better, now that the speculators who
          chase the latest fads are gone.
               The disbeliever in Arab unity conveniently forgets
          that out of seeming socioeconomic anarchy, one of the
          most powerful binding forces in the world has emerged:
          a modern, written Arabic language, which is understood
          and used in all the Arab lands.  The Arabic language is
          the first or second spoken language of the majority in
          the twenty-one countries and territories of the Arab
          World.  Many of the better educated Arab business and
          government leaders have taken it upon themselves to
          learn to speak, read, and write English and French, but
          the importance of the Arabic written word is such that
          many American businessmen -- as well as corporation
          executives -- are learning Arabic.
               Once one understands the importance of this
          linguistic unity among the Arab nations, the second
          fact to understand is that the Arab World is large. 
          Not large, perhaps, by Russian territorial standards,
          nor large by U.S. population standards, but it extends
          from Mauritania on the Atlantic Ocean to Oman (at the
          entrance to the Persian Gulf) on the Indian Ocean. 
          This long east-west span, together with a relatively
          narrow north-south span, is another contributing factor
          to Arab unity: This large segment of the "Dry World",
          stretching from Mongolia through the Middle East and
          North Africa, is a geographical factor that lends an
          indigenous quality to the over 100,000,000 people
          living in or near hot deserts and warm seas.
               Still another factor of the unity of the Arab
          World is its culture to which Islamic concepts of
          religion contribute heavily.  However, Islam is not
          inseparable from Arab culture; it is still possible, in
          a cultural sense, to recognize Christian and Jewish
          Arabs.  Nevertheless, after 1,000-1,300 years of
          Islamic rule, the Islamic concept of oneness has left
          its impact on the religious and racial minorities of
          the area.
               The Arab League, headquartered in Cairo, attempts
          and partially succeeds in establishing political unity
          for the Arab nations, despite the fact that it is not a
          sovereign entity.  A few of the problems confronting
          the Arab League are improving telecommunications, civil
          aviation, and inland and ocean transportation, and
          implementing the economic boycott of Israel.  The Arab
          League is an increasingly effective instrument for
          formulating an Arab consensus of economic and political
          goals, and for exerting leverage on the various members
          (some, perhaps, preferring to remain autonomous) to
          adhere to a common policy.
               Contributing to Arab economic unity is the Arab
          Common Market, with its five member-nations (the Market
          is currently encouraging more nations to join).  There
          is also an Organization of Arab Oil Producing
          Countries.  And there is an Arab League primary boycott
          of trade with Israel, combined with a secondary boycott
          of trade with several thousand companies around the
          world that are engaged in certain kinds of economic
          activities with Israel.
               In addition to unity, there is a concept of Arab
          nationality, which is enthusiastically recognized in
          all the Arab nations, and which one cannot profitably
          ignore.  It is a nationality composed of many factors
          -- geographic, cultural, political, economic and
          linguistic.  Therefore,
          one should understand that one is not dealing, in a
          business sense, in a socioeconomic hodge-podge, but
          with a unified whole -- the Arab.
               As might be expected were there is a strong sense
          of nationality, there is a national personality,
          although it is not readily understood by Westerners. 
          There is, for example, an Arab tendency to fatalism
          which is not a philosophy generally accepted in
          American culture, and there is the traditional Arab
          concept of male supremacy.  In business, however, the
          Arab is warm and friendly, and wants and expects a very
          personal relationship between the buyer and seller --
          and more especially between the principal and agent.
               This aspect of the Arab personality is not a
          trivial matter, nor one that the sometimes too-brusque
          American businessman can profitably ignore.  Moreover,
          Arab businessmen and government officials openly invite
          contacts with, and visits from, American businessmen,
          and they cannot understand why the visits are not
          forthcoming.  Another complaint from Arabs is that the
          American -- when he does call upon them -- is always in
          too much of a rush.
               The following procedure for making business
          contacts in the Arab World is one that Arab businessmen
          and government officials recommend:
               * Precede your visit with a letter, preferably
          signed by a senior American official of your company. 
          You will appear 'Arab-minded' if your letter is written
          in Arabic, but this is not really expected.  Enclose
          your company brochures with this initial letter, and
          propose a firm date on which an American representative
          of your firm will call on the Arab party.
               * A high-level American officer of your firm
          should make the first person-to-person contact with the
          Arab official.  You should allot at least three days
          for this initial visit, and expect that leisurely
          dinners and plant visits will be a part of the
          itinerary.  Instruct your representative to make no
          commitments to the Arabs except those that he is
          certain can be met, since honoring commitments in
          important to the Arab.  Your company must be prepared
          to meet the delivery dates, terms and prices specified
          between your man and the Arab official.
               * The matter of selecting and engaging an Arab
          agent is extremely important, and should be considered
          with care.  Initially, the Arab will take it for
          granted that the first American visit will be by an
          American, even though the Arab agent-representative is
          later appointed.  Instruct your man that any suspected
          incompetence in a prospective agent will not be a
          matter for discussion after his appointment, at which
          time he perceives himself as a member or your business
          family.  Once appointed, the agent works to establish a
          warm and friendly working relationship with his
          principal, even going so far as to send greeting cards
          and personal mementos.  However, the Arab agent will
          want exclusivity in the national or regional markets
          under discussion.  Generally speaking, you should be
          prepared to appoint an agent in each important national
          market, or have such arrangements made by your
          marketing manager.  There may have been a time when the
          absentee agent could work effectively in Arab markets,
          but that time is gone.
               The importance of your relationship with the Arab
          agent cannot be over-emphasized.  The Arab considers
          himself a Man of Honor in all business dealings, and
          any breach of this honor by you or your American
          representative will reflect upon the agent, thereby
          damaging his relationship with Arab customers.
          Therefore, you must be prepared to stand behind your
          agent in all disagreements.  While the phrase, "due to
          circumstances beyond our control" may serve a useful
          purpose in American business, do not try to invoke it
          with the Arab businessman, who sees even the force
          majeure and Act of God simply as legal subterfuge,
          through which a contract may be broken.  Ultimately,
          your business relationship with the Arab
          business/government community will be better served if
          you accept the occasional loss that might accompany the
          unpreventable breach of contract.  Remember, you are
          dealing not only in dollars, but in the good name of
          your Arab agent as well.
               Finally, the admonition to choose your Arab agent
          wisely and well bears repeating.  So important is this
          relationship that your future decision to withdraw or
          replace the man can take on the dimensions of an
          American divorce, with consequences just as unpleasant.
          
          
          Islamic Markets Are Growing Fast
          
               It is important to remember that the Arab
          countries are just one part of the much larger Islamic
          market.  Countries which have large Muslim populations
          include such non-Arab countries as Bangladesh, Brunei,
          Chad, Ethiopia, Guyana, Indonesia, India, Iran, Ivory
          Coast, Madagascar, Malaysia, Nigeria, Pakistan,
          Philippines, Senegal, Sierra Leone, and Turkey.
               Unfortunately, outsiders often link the word Islam
          with negative connotations such as fundamentalism and
          terrorism, while many others are benefiting from the
          vast business opportunities developing worldwide in the
          ever-expanding markets of the Islamic world.
               The world of Islam is ever expanding; Europe with
          its spreading Muslim population; Africa, 90% Muslim;
          the Middle East, 95% Muslim; Southeas6t Asia, over 50%. 
          In addition, there are about two hundred million
          Chinese Muslims, while Russia with its emerging states
          contains huge Muslim populations. 
               The best way to stay in touch with this very major
          market is through a subscription to Islamic Marketing
          Intelligence Report.  Its editor, Patrick O'Connor, has
          had years of experience lviing and working throughout
          the Islamic world.  He enjoys a vast network of private
          contacts with unimpeachable sources of information. 
          IMIR employs a multi-lingual staff of researchers who
          constantly monitor all news emanating from the Islamic
          countries of the world.
               A free sample issue is available by writing to
          IMIR at El Senorio de Marbella, Marbella 29600, Malaga,
          Spain. 
          
          
          Leipzig: The Place to be for Media & Publishing
          Companies
          
               The City of Leipzig is attempting to resurrect its
          past as a publishing center in Central Europe and
          develop this into a new role as a media center.  City
          officials, with support from the State of Saxony, are
          polishing plans to build Leipzig into a broadcasting
          center for eastern Germany and Central Europe, and to
          capitalize on the presence of sixty publishing houses
          within the city limits.
               Until the destruction of the city during World War
          II, Leipzig boasted a concentration of publishing
          houses, printers and bookshops that was perhaps second
          to none.  The publishing industry could call upon a
          cultural and scientific infrastructure which included
          the College of Graphic Art and Book Design (founded as
          an Academy of Art in 1764), colleges of library
          science, the German Central Library For The Blind
          (founded in 1889), and the Deutsche Buecherei -- a
          library containing every work published in the German
          language.  The association of German book traders was
          founded in Leipzig in 1825, remained there until World
          War II, and may soon return to the city of its birth.  
               The city's publishing tradition continued to some
          extent under the East German regime, but has blossomed
          since reunification.  From 38 publishing houses in
          1989, the industry has grown to 60 publishers in 1992,
          with prospects for more.  One of these publishers,
          Raethgloben Leipzig, has recently been purchased by The
          Cram Company of Indianapolis.  
               The city's former printing district of
          "Graphisches Viertel," where printers and publishing
          houses have settled since the Fifteenth Century, has
          already been identified as one of the future
          redevelopment areas of Leipzig. 
               A recent conference in Leipzig, the Second Media
          Forum of Saxony, focussed on the concept of Leipzig as
          a media city based on both publishing and broadcasting. 
          Speakers aired ideas for marketing the concept of the
          media city, for reconstruction of the printing
          district, supporting local print media, and
          establishing audio-visual companies, as well as both
          public and private radio stations.  Recognizing the
          necessity of a modern infrastructure, proposals were
          put forward for development of a media center for young
          talent, establishment of a commercial teleport,
          creation of an industrial park designed for print
          media, and implementation of a modern
          telecommunications infrastructure (such as ISDN
          networks).
               Mitteldeutscher Rundfunk (MDR), headquartered in
          Leipzig, plays the dominant role in both television and
          radio broadcasting in the states of Saxony, Thuringia,
          and Saxony-Anhalt.  Owned by the three state
          governments, MDR has centered its radio operations in
          Halle, but television activities remain in Leipzig. 
          MDR has announced plans to build a new television tower
          in Leipzig, in addition to a convention center.  MDR
          dominates radio coverage of southeastern Germany,
          owning four of the six radio broadcasting frequencies
          available.  MDR also hopes to become a force in
          reporting from Eastern Europe and, with the University
          of Leipzig, MDR also hopes to become a force in
          reporting from Eastern Europe and, with the University
          of Leipzig, is encouraging journalists who can work in
          Russian, Polish, or Czech.
               It is too soon to tell if Leipzig will re-emerge
          as a central European media center, but if it does,
          even at this early stage it may be wise to take a look
          at Leipzig.
          
          
          Finder's Fees -- The Easiest Money You'll Ever Make
          
               All you need to start is a typewriter, business
          letterhead & a telephone.  It is not uncommon for a
          professional finder to earn over $100,000 a year.  One
          finder earned $75,000 per month for 5 years.  He saw an
          item in a newsletter offering 10,000 barrels of crude
          oil per day for 5 years.  Putting that seller together
          with a buyer at a small refinery,he earned a fee of
          only 25 per barrel, and collected his fee of $75,000
          every month for 5 years.
               How about trading less than $1 in postage and a
          couple hours easy work for $100.  Not a big fee but it
          was so easy another finder couldn't pass it up. 
          Reading a "collectors" magazine, he came across an ad
          seeking some college memorabilia from a college near
          his home.  He made some local telephone calls, located
          the items wanted, wrote a letter, and earned an easy
          $100.
               A finder is nothing more than a "matchmaker" for a
          fee.  The professional finder simply matches qualified
          buyers with qualified sellers for a fee.  A finder is
          not a pre-seller, dealer, representative or agent.  
               Jim Straw, a nationally known publisher and
          entrepreneur, who has been a professional finder for
          over 30 years, has written the only course in being a
          professional finder.  To get more information on
          Finder's Fees-The Easiest Money You'll Ever Make write
          to Finder's Fees, Department 70197, P.O. Box 5385,
          Cleveland, TN 37320 and ask them for information on the
          finder's fee course.   
               If a product or service can be sold or bought,
          there is a potential finder's fee just waiting for a
          finder with the "know-how" to earn it.  There are
          finder's fees to be earned in every small town or big
          city, in every state and country.  All you need to do
          is match-up the buyers and sellers, put them together,
          sit-back and collect your fees.  And you can start your
          own finder's fee business for less than it would cost
          you for a good meal at a fine restaurant.  All you
          really need is a typewriter, business letterhead, and a
          telephone to get started. 
          
          More on profiting from finder's fees
          
               The Finders International Network Directory. or
          FIND, is a new, unique directory that lists
          professional, international finders from around the
          world.  Are you seeking precious stones from the
          Orient, desert land in Nevada, international financing
          from foreign banks or financiers?  Do you need business
          contacts in Arabia, India, Canada, Ghana, Europe, the
          ex-USSR, or anywhere in the United States?  Are you
          trying to sell an old airplane, old ship, or closeout
          merchandise?  Having trouble finding a rare or unusual
          item, looking for a lost loved one, searching for
          buyers, sellers, commodities, international business
          opportunities?  From Singapore, to Norway, from New
          Orleans, to Ontario, the professional finders in find
          can locate funding, capital, rare real estate,
          collectibles, buyers, and sellers of all kinds, agency
          and licensing deals, import/export products, and much,
          much, more!  Listed are finder's names, addresses,
          telephone and fax numbers, as well as a description of
          what they specialize in locating.
               Join the "network" by ordering your own copy of
          FIND.  Network with professional finders for finder's
          fees and finder assignments.  Internationalize your
          business today. 
               Free international advertising for professional
          finders is available by listing their finders service
          in FIND.  A free listing application is included with
          FIND.  To order, send $15 to Ronald G. Wyatt, 2128
          Goldbrier (F-22), Memphis, TN 38134.
          
          
          Consulting -- Another Portable International Occupation
          
               The "downsizing" of the American corporation
          coupled with the merger mania is creating a fabulous
          number of consulting opportunities for the man or woman
          who is prepared for them.  In one case the corporate
          brass had just dismissed all the in-house talent to do
          the job they now need a consultant for, and didn't want
          to "lose face" by calling them back in as consultants.
               For the better part of the last decade one
          organization has been helping professionals who,
          possibly like you, didn't think they could develop a
          successful consulting practice, and either were not
          aware of or ignored the vast consulting opportunities
          available around the world.
               The Consulting Opportunities Journal, published by
          the Consultants National Resource Center, has for eight
          years been the information source for thousands of
          first-time and "old pro" consultants alike.  They also
          have a number of special items that they include with
          membership, making it a complete consulting course. 
          And a full money-back guarantee.  For more information,
          write to Consultants National Resource Center, Dept.
          2001, P. O. Box 430, Clear Spring MD 21722 and ask for
          membership
          information.
          
          
          Earn a Lifetime Income From International Telephone
          Calls
          
               In the past few years, an international discount
          telephone industry called "callback" or "third-country
          calling" has been growing rapidly.  Now there is one
          company in this industry that is making its services
          available through a multi-level sales organization that
          provides an opportunity to make money selling
          international discount calling to travelers and to
          international businessmen.
               This industry primarily serves people outside the
          U.S. who need to call the U.S., or call between two
          countries.  Since discount telephone services are not
          available in most of the world, an industry has
          developed to serve these markets by channeling the
          calls through the U.S.  American telephone rates are so
          low that it is cheaper to route a call through the
          U.S., even though that means paying for two separate
          calls.  Besides avoiding high telephone rates, the
          services avoid the high surcharges that many hotels add
          to calls placed from a hotel room.
               Callback services work by calling the U.S.
          callback number from a another country, hanging up, and
          the computer then dials the caller back.  At that point
          the caller has a U.S. dial tone and can place calls to
          anywhere in the world.  An account with the callback
          company has to be established in advance, and then the
          monthly bill is charged to the customer's major credit
          card.
               The cost of using the callback service is often
          half or less what it would cost to call direct!
               If you are already selling for a multi-level
          company, it is quite likely that you will have people
          in your existing downline who have international
          contacts.  The key to making big money with this
          opportunity is finding good distributors in several
          countries and signing them up under you.  
               You can also advertise the service directly,
          either with ads in international publications or by
          direct mail to international mailing lists.  Let's say
          you sell the service to 20 small international
          businesses that make $2,000 worth of calls per month,
          which is a very conservative figure for most
          international business callers.  Many small to medium-
          sized companies spend many times that!  Commission
          rates range between 5% and 8%, depending on your sales
          volume.  But even at the 5% minimum rate you would be
          making $100 per month on each account, or $2,000 per
          month on the 20 small businesses.  Once you've signed
          an account, the commissions will keep coming forever.
               And since the program is multi-level, you will
          also be making money on any sales that are made by
          distributors you recruit, so your total income can get
          much larger than in the example we've given.  
               The only callback company that sells through a
          multi-level structure is MasterCall, which has been in
          business since 1991.     MasterCall is specifically set
          up to offer opportunities to potential representatives
          through a network marketing program.  You can recruit
          representatives anywhere in the world.  MasterCall
          charges a small annual fee to become a representative,
          but there is no requirement that you purchase the
          service or become a subscriber yourself to earn
          commissions from selling the service. 
               To get the MasterCall Information Package and
          representative application form, send $3 ($5 if to a
          non-U.S. address) to: Adam Starchild, P.O. Box 917729,
          Longwood, Florida 32791-7729 U.S.A.
          
          
          Ireland - Isle of Opportunity
          
               For the rest of the world, the arrival of the
          single European market in 1992 was both a promise and a
          threat.  The promise is the lure of a market of 340
          million well-heeled consumers.  The threat is that the
          high taxes, sky-high wages, innumerable languages, and
          entrenched levels of bureaucracy associated with the
          European Community (EC) will effectively deny access to
          firms outside it. 
               Using Ireland as a base is one way to lock in low
          labor costs and a 20-year tax holiday in the process. 
          In some cases, you can even get free government money
          to fund your start-up costs.
               Only one EC country offers foreign entrepreneurs
          the benefits of an English-speaking work force, labor
          costs that are only 60% to 70% of U.S. levels, a 10%
          ceiling on taxes, and cash grants to help them get
          started.  That country is Ireland.
               Since the 1970s, the Irish government has pursued
          an aggressive foreign investment program.  To encourage
          foreign entrepreneurs to set up businesses in Ireland,
          the government created the Irish Development Authority
          (IDA). 
               The IDA has broad powers to approve applications
          and make grants to prospective employers.  It also
          operates branch offices in the United States,
          Australia, Japan, South Korea, Taiwan, Britain,
          Germany, and the Netherlands.
               To start up a business and win special grants for
          creating jobs, entrepreneurs need only contact the
          nearest IDA office.  Local Irish IDA officials will be
          available to provide back up assistance. 
               One-stop shopping spares prospective investors the
          long-winded dealings with local authorities or agencies
          that can make foreign investment difficult elsewhere. 
          A considerable number of large multinational companies
          have already taken advantage of the benefits of setting
          up Irish subsidiaries.  But don't get the idea that
          Irish incentives are only for big companies.  The
          average foreign company in Ireland employs only 40 to
          50 workers.
               To qualify for IDA incentives, a company must be
          engaged either in manufacturing or in international
          services.  The latter category includes computer or
          software services, back offices for insurance
          companies, and financial and other primary services. 
               Financial companies are required to set up in the
          new International Financial Services Center in Dublin,
          a brand-new, high-tech development near the refurbished
          Dublin docks.  To qualify for IDA tax breaks and
          capital grants, a financial company must employ a
          minimum of 10 people.  There is no minimum size,
          however, for manufacturing companies or other service
          operations.
               Recently, the Irish parliament passed a law
          extending through the year 2010 the maximum corporate
          tax rate of 10% on foreign investments.  Thus,
          companies investing now can look forward to at least
          two decades of tax relief.  The government will also
          make cash grants to deserving prospective employers. 
          These can take the form either of picking up the entire
          first year's payroll for a labor intensive business,
          such as software development, or of capital grants for
          factories or other more capital-intensive operations. 
               Grants are made according to the quality and
          number of jobs to be created.  The IDA looks with
          particular favor on those projects that will employ
          some of Ireland's many university graduates.  Your
          project will also be more attractive if it will obtain
          supplies locally or will otherwise contribute to the
          local economy.  Companies receiving IDA grants are free
          to lay off employees.  But they must carry the grant on
          their books for ten years as a self-amortizing
          liability, secured by equipment or some other
          guarantee.  Thus, if a company eliminates jobs during
          the first ten years, it will probably have to give back
          part of the grant.  After ten years, however, the
          liability is gone.  So far, however, firms have tended
          to expand Irish operations rather than cut them back --
          thanks to the favorable tax conditions.  Many smaller
          companies that set up shop in the past have grown into
          medium to large companies. 
               In addition to the IDA program, Ireland offers
          other programs.  One of them is the Shannon Free Zone
          program.  Incentives are similar to those of the IDA,
          with taxes held to 10% and capital grants available. 
          Companies are required to locate near Shannon Airport. 
          The Shannon Free Zone operation is administered
          separately from the IDA.
               In just a few years, Dublin's International
          Financial Services Center (IFSC) has emerged from a
          derelict docklands site to be a new European hub for
          the management of the financial assets of some of the
          biggest corporations in the world.
               Since the first, new office building on the 27-
          acre site opened in 1990, familiar names associated
          with diverse manufacturing activities, such as IBM,
          Alcan, Volkswagen, Volvo, Grand Metropolitan and
          Outokumpu, have all chosen Dublin as a location from
          which to manage their world-wide corporate treasury
          operations.
               Others, such as Asea Brown Boverie, BMW, Ericsson
          and Coca-Cola, have chosen the IFSC as the hub from
          which to manage their world-wide insurance needs. 
          Large corporations such as these, with manufacturing
          assets and properties scattered in scores of locations
          around the world, set up their own insurance companies
          through which their subsidiaries then place their
          property insurance.
               Captive insurance, as it is known, has developed
          well and quite unexpectedly.  On the back of this
          business, re-insurance operations have also grown
          rapidly.
               Far from being a glass and chrome shell, housing
          dubious "brass-plate" operations often associated with
          offshore centers, the IFSC now has 140 financial
          services companies, giving direct employment to 986
          people.
               One hundred and ninety five projects have been
          approved, which have made commitments to employ
          eventually almost 3,000 people.
               The IFSC was conceived as a means of transforming
          the derelict docklands area of Dublin into a new
          European financial center, which would complement the
          growth in new manufacturing industries that have sprung
          up across Ireland under the stimulus of the IDA.
               Ireland offers many advantages compared with rival
          centers such as Luxembourg and the Channel Islands,
          through lower wage and housing costs, a skilled and
          abundant labor force and good communications with other
          European business centers.
               The IFSC is just a 10-minute walk from Dublin's
          city center and a 20 minutes' drive from the airport. 
          The development site has plenty of room for expansion
          and is planned to have complementary developments of a
          300-bedroom hotel, a marina, shopping and restaurant
          facilities and residential properties.
               If a planned development of a light rail transport
          system gets European Community approval and funding,
          much of Dublin's traffic congestion problems can also
          be overcome, which is one of the city's few drawbacks
          for developers of services-related industries.
               One of the IFSC's attractions has been the
          possibility for cash-rich firms to place their surplus
          cash in investment funds which are then managed in
          Dublin by specialist companies.  Profits are taxed at
          the 10 per cent rate and can be repatriated without
          further tax liabilities due to Ireland's double
          taxation treaties with its EC partners.
               Many leading foreign banks, such as Dresdner Bank,
          Citibank, Chase Manhattan and Deutsche Bank, have
          established fund management operations in Dublin.
               Dublin's tax advantages disappear in 13 years but
          this is sufficient time for many institutions to be
          interested.  With 550,000 square feet of office space
          completed at the IFSC, the government, through its
          Customs House Docks Authority, is now negotiating the
          center's second stage of development, which includes a
          museum, an hotel, retail facilities, housing and
          further office buildings.  Prospective companies
          wishing to take advantage of the center's tax breaks
          have until the end of 1994 to obtain certification.
          
          
          A New Hong Kong?
          
               China, Russia, and North Korea agreed to let
          foreigners have long-term land leases in a proposed
          development zone straddling the three countries'
          borders.
               An international, independent company will manage
          the zone in the Tumen River delta.  The 38,600-square-
          mile project, with a goal of $30 billion in investment
          over 20 years, would be the first major effort in Asia
          to introduce Western capital and technical know-how in
          underdeveloped socialist territory.  Mongolia and South
          Korea are also participating, and the United Nations
          Development Program is involved.
          
          
          
