Indonesia chosen to build EV battery plant World

Indonesia chosen to build EV battery plant

Indonesian Minister of State-Owned Enterprises Erick Thohir said on October 14 that the world’s two largest electric vehicle (EV) battery producers, Contemporary Amperex Technology Co. Ltd of China and LG Chem Ltd of the Republic of Korea, are considering a plan to build an EV battery plant worth 20 billion USD in Indonesia.
Vietnam Growth Investment Fund established Business

Vietnam Growth Investment Fund established

The SSIAM Asset Management Company Limited (SSIAM) and its partners, the Charoen Pokphand Group’s CT Bright (CTB) and Japan’s Mercuria Investment Co. Ltd (MIC), held an online signing ceremony on October 14 to establish the Vietnam Growth Investment Fund (VGIF).
Indonesia diversifies supply of COVID-19 vaccine World

Indonesia diversifies supply of COVID-19 vaccine

Indonesian Foreign Minister Retno Marsudi and State-owned Enterprises Minister Erick Thohir left for official visit to the UK and Sweden on October 12. The visit aims to secure commitments from other sources for a COVID-19 vaccine under a bilateral vaccine cooperation framework.
Half of local businesses use IFRS Business

Half of local businesses use IFRS

More than half of companies in Vietnam have been adopting international financial reporting standards to meet investors’ expectations and improve their corporate governance, a survey showed.
Indonesia to set up 5 billion USD sovereign wealth fund World

Indonesia to set up 5 billion USD sovereign wealth fund

The Indonesian government is preparing 75 trillion Rp (5.1 billion USD) for the nation’s sovereign wealth fund (SWF) to attract investment and support the economy as global heavyweights from the United States to the United Arab Emirates have expressed interest to join.
PetroVietnam stands firm amid “dual crisis” Business

PetroVietnam stands firm amid “dual crisis”

The Vietnam Oil and Gas Group (PetroVietnam) sustained its production and business activities in the first eight months of 2020 despites many oil and gas firms around the world struggling with the “dual crisis” of COVID-19 and prolonged low oil prices.
ADB: Thailand’s economy to shrink by 8 percent in 2020 World

ADB: Thailand’s economy to shrink by 8 percent in 2020

Despite relatively effective containment of Covid-19, the impact of the pandemic on Thailand's economy has been more severe than expected and economic recovery remains elusive, with annual GDP poised to shrink by 8 percent, says the Asian Development Bank (ADB).
Hesitation slows down SOE equitisation Business

Hesitation slows down SOE equitisation

Despite numerous efforts of the Government in speeding up the equitisation of State-owned enterprises, some ministries, sectors, localities and economic groups have showed ineffective performance in the work, thus slowing down the progress of the scheme.