AEC Feed

Singapore’s Temasek is seeking partnerships in Vietnam in finance, manufacturing, consumer goods and healthcare, according to Cheo Hock Kuan, Temasek International’s head of strategic and public affairs.
Kuan met with Deputy Prime Minister Nguyen Xuan Phuc on Wednesday, where she discussed the company’s desire to step up investments in Vietnam.
Temasek, an investment company owned by the Singaporean government, established a representative office in Vietnam in February 2005, with an investment list that covered a range of sectors, such as natural resources, agro-fishery, information technology and banking, Kuan said.
She said Vietnam had created favourable conditions for Temasek and other foreign investors, helping them to operate productively and contribute to growing ties. – Viet Nam News
Phuc lauded Temasek’s viable business activities in Vietnam as a contribution that reinforced the partnership between the two countries. – Viet Nam News

Jakarta to issue new rules
on OTT service
The foreign providers of over-the-top (OTT) applications running on Indonesia’s local network must prepare additional investment as a new regulation will oblige them to register as a local entity with sole ownership or through a joint venture with local partners.
Information and Technology Minister Rudiantara said there were four aspects that would be covered in the upcoming regulation, namely customer service, customer protection, compliance and a level playing field. With the establishment of a legal entity in Indonesia, it would be easier to handle any disputes or infringements that might appear in the future. – The Jakarta Post“The government doesn’t want Indonesia to [be] left behind in technology and investment, but at the same time we want to protect Indonesian consumers. Remember, Indonesia is not the only one asking for this. It [is] also applied in Europe,” he said, adding that the rule was expected to be issued this month.
On February 24, France asked for 1.6 billion euros (Bt61 billion) in unpaid taxes from Google. In January, Italy requested around 2.27 billion euros in tax from Google as well. In 2012, France pressed Amazon for around US$2.52 billion (Bt89 billion). – The Jakarta Post

Singapore Airlines’ first A350 lands at Changi

Singapore Airlines’ first Airbus A350 landed at Changi Airport yesterday. Two fire engines were on hand to give it a water-cannon salute at Terminal 3 where it landed.
Among those who turned up to welcome the plane was Transport Minister Khaw Boon Wan and SIA chairman Stephen Lee.
On the plane, which had arrived from Airbus’ headquarters in Toulouse, France, was SIA chief executive officer Goh Choon Phong. – The Straits Times