Business News

Business news to help you keep track of the latest developments and identify new opportunities across key sectors in Southeast Asia

Monthly Business News to Help You Understand the Market

Aeon Malaysia to Inject USD119 million on New Malls and Renovations

Jun 2019 Malaysia, Retail/FMCG

This fiscal year, Aeon Malaysia is set to spend approximately MYR 500 million (USD 119.2 million) on mall refurbishments and new locations. A slight decrease from last year, ...

Tokopedia Expanding E-Commerce Services to Keep Rivals at Bay

Jun 2019 Indonesia, Retail/FMCG

Indonesian e-commerce giant Tokopedia is expanding its one-day delivery guarantee to nearly all of its products in a move to keep rivals at bay. While the 100% Indonesia ...

Ratings Agency S&P Raises Indonesia’s Sovereign Rating to BBB

Jun 2019 Indonesia, Economy

Credit rating agency, Standard & Poor's (S&P) upgraded the Sovereign Credit Rating of the Republic of Indonesia from BBB-/ Stable Outlook to BBB/Stable Outlook on 31 May ...

Indonesian Organization Lands Google Aid to Reduce Plastic Waste

Jun 2019 Indonesia, Environment

Google will provide training, funding and assistance to Gringgo Indonesia Foundation to develop artificial intelligence (AI) as a means to sort and reduce plastic waste. The ...

Indonesia to Invest USD 412 billion in Infrastructure Between 2020 and 2024

Jun 2019 Indonesia, Infrastructure

With plans including the construction 25 airports and new power plants, Indonesia hopes to boost the economy by investing a record 5,957 trillion rupiah (USD 412 billion) in ...

Indonesia Considers Opening Domestic Routes to Foreign Airlines

Jun 2019 Indonesia, Defense/Aerospace

Indonesia's President Joko “Jokowi” Widodo has submitted a proposal to the transportation ministry to allow foreign airlines to serve domestic routes as a way to reduce ...

Indonesia Collaborating with Taiwan for Industry 4.0 Development

Jun 2019 Indonesia, Manufacturing

The Ministry of Industry of Indonesia has announced a collaboration with the Industrial Technology Research Institute (ITRI) in Taiwan and management consulting firm, ...

Five Indonesian Geothermal Working Areas to be Auctioned in July 2019

Jun 2019 Indonesia, Energy

The Indonesian Directorate General of Renewable Energy and Energy Conservation (EBTKE), a department under the Ministry of Energy and Mineral Resources (EDSM), is planning to ...

Concerns Remain Over Taxation of Foreign E-commerce Companies

Jun 2019 Indonesia, Economy

The amended Law on Tax Management has recently been passed by the National Assembly in an effort to improve taxation on ecommerce activities. The law will enter into force on ...

BPJS Kesehatan and IDX Sign Data Sharing Agreement

Jun 2019 Indonesia, Healthcare

On 17 May, BPJS Kesehatan and the Indonesian Stock Exchange (IDX) signed a data sharing agreement aiming to encourage companies and their employees to take part in the ...

Blockchain Firm Secures Contract for Logistics Project in Indonesia

Jun 2019 Indonesia, ICT

Indonesia’s Ministry of Trade has signed an MoU with Singaporean blockchain firm PLMP Fintech, Central Distribusi Batam and the Agency for Free Trade Zone and the Free Port ...

Work Commences on Korea-Tra Vinh Wind Farm Project

May 2019 Vietnam, Energy

The construction of a new wind farm in Tra Vinh province, in the South of Vietnam, has been launched on April 24th. This is a joint project between Tra Vinh Wind Power ...

Vietnamese Market for Beauty Products Grows

May 2019 Vietnam, Retail/FMCG

The Vietnamese cosmetics market has enjoyed constant growth in recent years thanks to rapid economic development and a large young population. The market is growing at more ...

Vietnam to Ensure Favorable Conditions for US Investment

May 2019 Vietnam, Economy

US companies are guaranteed to have the most favorable conditions to invest and do business in Vietnam, said Deputy Prime Minister Trinh Dinh Dung at the 2019 US – Vietnam ...

Vietnam Airlines Reveals Fleet Expansion Plans

May 2019 Vietnam, Defense/Aerospace

Vietnam Airlines, a state-owned enterprise, plans to expand its fleet by acquiring 50 to 75 new narrow-body aircrafts, and 10 backup engines in 2021-2025. There are several ...

Pharmacity Vietnam Plans 1,000 Stores

May 2019 Vietnam, Healthcare

Mekong Capital, a private equity firm in Vietnam has given funding to Pharmacity, making it the eight company to receive funding from its latest financing round. Last year, ...

European Firms Win USD 223 Million Wastewater Plant Project in Vietnam

May 2019 Vietnam, Environment

The joint venture between Spanish company, ACCIONA Agua and French firm, VINCI Construction Grands Projets has won a contract for the design-build portion of the Nhieu ...

Dong Nai Province Calls for Investors for 12 Infrastructure Projects

May 2019 Vietnam, Infrastructure

The southern province of Dong Nai in Vietnam has advertised a list of 12 Infrastructure projects which require a more than a USD 1.2 billion investment in total. Six of the ...

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