AEC Feed

US-based General Electric aims to supply locomotives for railway services on Sumatra and Sulawesi islands.
The routes are still under development and targeted to be finished by 2019 for Sulawesi and 2021 for Sumatra.
The government says the projects are not affected by the recent budget cut.
“We are still waiting for the tender, we will submit it immediately,” GE Indonesia operations president director David Hutagalung said during a memorandum of understanding signing between state-owned railway operator KAI and the US Trade and Development Agency in Jakarta on Friday.
From 2014-16, GE supplied 150 new locomotives to KAI.
In June, GE received a maintenance order for 50 KAI locomotives made by GE with the contract value of US$60 million (Bt2 billion).
“Our locomotive’s local content reached 24 per cent, the bogie is made by state owned Barata Indonesia and assembled by Industri Kereta Api (Inka),” he said.
Other than GE, KAI also has options to source the locomotives from Inka. The state-owned company has produced CC300 locomotives since 2013. – The Jakarta Post

Debit card, ATM interoperability ready in 2017: Central bank
Bank Indonesia aims to finish ATM switching and debit card transaction interoperability next year to facilitate people in transferring money to all banks via ATM, while card swipe machines will be able to accept debit cards from all banks.
“Card swipe machines are a bit easier because right now some bank’s card swipe machines are able to receive other banks’ card.
“For ATMs, we have to ensure switching operators are using the same protocol,” BI deputy governor Ronald Waas said at the BI’s office on Friday.
There are four switching companies in the country – ATM Bersama (87 banks), Prima (60 bank members), ALTO (18 bank members) and Link (four bank members).
However, BI will not force a merger.
“They will still exist and with this interoperability, there will be no reason for high switching costs,” he said.
The State-owned Enterprises Ministry is interested in creating another switching company because the current “Link” for state banks is operated by Telkom, he said.
If realised, the new switching company would have to work within the interoperability protocol. – The Jakarta Post

Phu Quoc eyes more investment
 Phu Quoc Island has so far attracted 244 projects worth 314 trillion dong (Bt486.5 billion), mostly in infrastructure, urban development, fisheries, tourism, trade and services.
Twenty-eight projects with an investment of 35 trillion dong are already operational while 22 others worth 35.6 trillion dong are under construction.
“The island authorities have invited many big investors like Vingroup, Sun Group, BIM Group and CEO Group to build luxury hotels, resorts and amusement facilities to serve tourists,” said Huynh Quang Hung, deputy chairman of the Phu Quoc District People’s Committee.
Vinpearl Phu Quoc in the north of the island with a complex consisting of a five-star hotel and villas, modern entertainment area, 27-hole golf course and the world’s second biggest wildlife safari has become popular with both foreign and domestic tourists.
In the south, Sun Group’s resort and hotel complex of five- to six-star quality is set to open with over 1,000 rooms.
Next year, the 4.9 trillion-dong first stage of a cable car system from An Thoi town to Hon Thom island commune will become operational.
Truong, Dai, Sao and other beautiful beaches on the island are in the process of inviting restaurant and resort and hotel investors to serve tourism. – Viet Nam News

Vietnam’s overseas investments reach $20.4 bn
As of August 15, 1,125 Vietnamese projects were granted licences to invest abroad with total registered capital of $20.38 billion, according to the Foreign Investment Agency.
In the first eight months of this year, Vietnamese businesses’ overseas investments reached $705.8 million with 71 newly licensed projects and 35 adjusted projects.
Since the Law on Investment took effect on July 1, 2014, the Ministry of Planning and Investment has granted outbound investment licences for over 190 projects, of which 124 are new projects, with total capital of $933.2 million.
Vietnamese businesses have recently had success investing in foreign countries, including the military-run Telecommunications Group, telecom firm FPT Corporation, TH True Milk, and Vietnam Dairy Products Joint Stock Company.
The Vietnam National Oil and Gas Group, or PetroVietnam, and some banks, such as Vietinbank, the Bank for Investment and Development of Vietnam and the Bank for Agriculture and Rural Development. ?
Vietnam began investing in overseas projects in 1988. — Viet Nam News