TRADEWINDS
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SINGAPORE
Ordyn sets up R&D centre in Singapore |
Bangalore-based telecom equipment maker Ordyn Technologies has announced plans to set up an R&D centre in Singapore, the company’s first research operation outside India. The company cited Singapore’s Intellectual Property laws as the reason for choosing Singapore.
Ordyn provides optical networking and wireless transmission gear. Its current product range includes Synchronous Digital Hierarchy-based (SDH) multiplexers, WiMax base stations and WiMax USB adapters. Ordyn claims a market share of more than 50% for optical transport equipment in the telecoms, utilities and enterprise segments in India with key customers like BSNL.
India hopes to conclude FTA with ASEAN in 3 months
In a press interview after the discussion held at Lee Kuan Yew School of Public Policy in National University, Singapore on 4 Apr, Union Commerce and Industry Minister, Mr. Kamal Nath said that Indonesia remained the chief stumbling block to ASEAN-India Free Trade Agreement (FTA). However, he added that India was hoping to conclude its trade agreement with ASEAN in the next three months, saying that all the major roadblocks have been solved. If 80% of tariff lines are being covered by all the other ASEAN countries, then Indonesia must do the same, he said.
India and the other ASEAN members have agreed on zero duties on 80% of products on their tariff schedules, but Indonesia is still holding out. It is in the interest of the ASEAN countries to achieve the symmetry, said Mr. Nath. He noted that India enjoyed a very good trade relationship with Singapore, India’s fourth largest trade partner (after the US, China and the UAE) and also the fourth largest investor in India.
During his visit to Singapore, the Minister met Singapore Minister Mentor Lee Kuan Yew. He also called on Minister for Trade and Industry Lim Hng Kiang to invite Singaporean participation in the Delhi-Mumbai Industrial Corridor, and made a case for greater speed in implementing the CECA Mutual Recognition Agreements.
Indian Minister pointed out that Japan had been associated with the Industrial Corridor project and India wanted Singapore too to be associated with the project.
Talk on Doing Business in India
The Singapore India Chamber of Commerce & Industry (SICCI) in collaboration with the British Chamber of Commerce in Singapore (BritCham) organized a talk on "Doing Business in India – An Introduction on 30 April 2008" targeted at SMEs Singapore. Senior officials of SICCI and Dr. K.N. Raghavan, First Secretary (Commerce) from the Indian Mission in Singapore made presentations on the topic. The talk was followed by a Q&A Session.
Ascendas India Devt Trust in two mega JVs, SEZ project
Ascendas India Development Trust (AIDT) has announced a 50:50 joint venture with Indian real estate fund IREO to develop a $290 million project in Coimbatore in the state of Tamil Nadu. AIDT is the private property development fund of JTC Corps’s fully owned business space provider Ascendas, which will manage the development when it is completed in six to seven years. Ascendas is a significant co-investor in AIDT. The other investors include Arcapita of Bahrain and ING Private Banking.
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SAUDI ARABIA
New Sectors opened for foreign investors |
Saudi Arabia will allow foreign investment in some vital sectors such as insurance services, wholesale and retail trade, air and train transport and communication services. The negative list of investment was also revised to comply with Saudi Arabia’s commitments to WTO. The new list excluded distribution services, wholesale and retail trade including medical retail services.
Other sectors open to foreign investment are – distribution of cinema films and video cassettes, transportation of passengers inside cities by train and satellite transmission services. Sectors still out of bounds for foreign investors include recruitment and employment services including local recruitment offices, real estate brokerage, audiovisual and media services, land transport except transportation by train within cities, services rendered by midwives, nurses, physiotherapists and paramedics, fisheries blood banks and quarantines.
(Maps from worldatlas.com)
