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
Sembcorp Announces 2023-2028 Strategic Plan to Drive Energy Transition
Sembcorp Industries (Sembcorp), a key player in Singapore’s energy sector, has announced its 2023-2028 strategic plan, reaffirming its commitment to transform its ...
Singapore Beefs Up Naval Defense
In November 2023, Singapore’s Ministry of Defense (MINDEF) has signed a contract with Fr. Fassmer GmbH & Co. KG to acquire four new Offshore Patrol Vessels (OPVs) ...
France’s Vital Meat Plans to Introduce Cultivated Chicken in Singapore
Vital Meat, a French cultivated meat company, has recently announced its initiative to enter the Singaporean market with its innovative product, Vital Chicken. The company ...
Indonesia and Vietnam Collaborate to Advance Lobster Production
The Minister of Maritime Affairs and Fisheries of Indonesia has recently expressed confidence in the nation’s potential to emerge as a prominent lobster producer in ...
Indonesia to Provide Tax Incentives for Electric Vehicle Manufacturers
Indonesia plans to provide tax incentives for automakers intending to establish electric vehicle (EV) plants, including exemptions on import duties for fully manufactured EVs ...
US and German Companies Advance Green Hydrogen Production in Indonesia
Black & Veatch, a US company leader in critical infrastructure solutions, has recently undertaken a feasibility study for Augustus Global Investment (AGI), a ...
Honeywell Collaborates Indonesian Firm to Improve Mission Readiness of Armed Forces
American corporation Honeywell has signed a memorandum of understanding (MoU) with Indonesian aerospace manufacturer PT Dirgantara Indonesia (PTDI) to improve mission ...
Indonesian Companies Sign Collaborate with Chevron for CCS/CCUS Development
PT Pertamina Hulu Mahakam (PHM), PT Pertamina Hulu Sanga Sanga (PHSS), and PT Pertamina Hulu East Kalimantan (PHKT) have signed confidentiality agreement with Chevron Energy ...
Indonesia Aspires to be the Global Hub of Muslim Fashion
According to Indonesia’s Ministry of Trade, the Southeast Asian country is set to emerge as the global center for Muslim fashion in 2024, aligning with its ongoing ...
South Korean Company to Construct Plasma Fractionation Plant in Indonesia
GC Biopharma, a South Korean biopharmaceutical company, recently started the construction of a plasma fractionation plant at the Jababeka Industrial Estate in Indonesia. This ...
Indonesia and Germany Collaborate in Green Transportation Development
Indonesia and Germany are joining forces to develop eco-friendly transportation systems, including bus rapid transit (BRT) in Semarang and Surabaya, as well as the ...
Indonesian and South Korean Telecommunications Companies Collaborate on Smart City Project
South Korean telecommunications company KT Corp., and its Indonesian counterpart Telkom Indonesia have recently inked a memorandum of understanding to collaborate on a smart ...
ADB Approves USD 650 Million Investment for Indonesia’s Health System
The Asian Development Bank (ADB) has approved an investment of USD 650 million for the upgrade of Indonesia’s primary healthcare facilities and public health ...
Singapore and Malaysia to Form Joint Special Economic Zone in 2024
During the 10th Singapore-Malaysia Leader’s Retreat held in Singapore in late October 2023, both countries announced the aim to sign a memorandum of understanding (MOU) for ...
Zespri Launches Global Hub in Singapore
Zespri, the world’s largest marketer of kiwifruit, has officially opened its new Centre of Sales and Marketing Excellence in Singapore. First established in 2015, the center ...
Leica Microsystems Opens USD 60 Million Facility in Singapore for Surgical Microscopes
In mid-October 2023, Leica Microsystems, a microscopy and scientific instrumentation company from Germany, announced the opening of its new USD 60 million medical ...
Singapore Embarks on Digital Bunkering Project
In mid-October 2023, the Singapore Maritime and Port Authority (MPA) announced the launch of a digital bunkering initiative, to be implemented on 1 November 2023, replacing ...
Singapore E-Waste Company Launches Battery Recycling Plant in the City-State
In late October 2023 Singapore E-Wate and Battery Recycling Company KGS officially launched its new battery recycling plant, the company’s first recycling plant and the third ...
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