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Kapital News Highlight - Sept 14

Friday, September 14, 2018


  • On Wednesday (12/9), Go-Jek Indonesia launched its services in Hanoi under the brand Go-Viet as part of its US$500 million international expansion. Go-Viet is driven by a Vietnamese founding team, with Go-Jek providing technology, expertise and investment. The app-based on-demand service, Go-Viet offers a wide range of services from transport to food delivery. Previously, Go-Viet has entered Ho Chi Minh City and grabbed a 35 percent share of the market for motorbike ride-hailing services in the city after its launching on August 1. President Joko Widodo attended the launching event of Go-Viet, who was also in Hanoi for an official state meeting of the World Economic Forum. President Jokowi said that he expects bilateral trade between Indonesia and Vietnam to reach US$10 billion a year by 2020. (Jakarta Globe)


  • The Minister of Industry Airlangga Hartato said that there are six South Korean companies who have made commitments to invest a total of US$446 million in Indonesia. The investment deals were the result of the 2018 Indonesia-Korea Business and Investment Forum that took place in Seoul, South Korea last week. Airlangga said that the meeting between the two countries reflects the great enthusiasm of the South Korean businessmen to have a business collaboration with Indonesia, either in terms of business expansion or new investments in several industry sectors. The six companies from South Korea that have made deals with Indonesia are South Korea's LS Cable & System, Busan-based Parkland, Sae-A Trading, Taekwang Industrial, World Power Tech, and InterVest. (Jakarta Globe)


  • The Indonesian President Joko Widodo made a blockbuster reference by comparing the state of the world economy to Marvel's Infinity War when speaking at the World Economic Forum (WEF) of ASEAN in Hanoi. President Jokowi explained how Thanos, the main villain of the Infinity War movie, wanted to wipe out half of the world's population so that the surviving half could enjoy the better access to resources. Moreover, President Jokowi said that there might be a fundamental mistake of Thanos' underlying assumption believing that the planet's resources are limited. In fact, the resources available for humanity are not infinite and unlimited. However, he also assured that he and his fellow "Avengers" will stand ready to prevent Thanos from doing so. (Jakarta Post)


  • Facebook's vice president Thomas Furlong said that Facebook will invest more than US$1 billion to build the company's first data center in Asia in Singapore that will be open in 2022. Not only representing the US$1 billion investment, Facebook's facility is expected to support hundreds of jobs. The facility will be located in the west of the island near Google's data centers. Currently, Facebook has already had a number of data centers, such as in the United States, Ireland and Sweden. Furlong added that the data center location is not country specific, but more a dynamic process. (Jakarta Globe)


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