ScandAsia South East Asia - August 2016

AUG 2016
Malaysia
Indonesia
Philippines
Vietnam
Cambodia
Laos
Swedish Ambassador
on Cambodia’s potential
ScandAsia.dk ScandAsia.fi ScandAsia.no ScandAsia.se

Malaysia
Indonesia
Philippines
Vietnam
Cambodia
Laos
Coming Events
AUG 2016
Swedish Ambassador
on Cambodia’s potential
ScandAsia.dk ScandAsia.fi ScandAsia.no ScandAsia.se
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ScandAsia
Magazine
ScandAsia is the only magazine
that covers all the Danish, Finnish,
Norwegian and Swedish residents
in South East Asia.
Danish healthcare business delegation
to Indonesia
The Danish Health Tech Group, of the Danish
Export Association, in cooperation with the Royal
Danish Embassy Jakarta is inviting to a delegation
to Indonesia on 17 – 19 October 2016. The visit
connects to the Hospital Expo starting on 19
October.
The delegation is directed at Danish companies
providing know-how, equipment and consulting
in health care infrastructure. The trip includes,
among others, visiting a number of hospitals and a
networking event with the participation of private
and public actors in the country’s health sector.
“In the wake of Denmark’s state visit to
Indonesia last year and the Indonesian vice-health
minister’s recent visit to Denmark, Denmark is
now strong in the minds of key players in the
Indonesian health, and we must take advantage of
now,” explains Thomas Andersen, Head of Danish
Health Tech Group.
Indonesia is the world’s fourth most populous
country with 255 million inhabitants. Healthcare
is a priority in Indonesia’s national development
agenda and the government has committed
to support the development of an adequate
healthcare infrastructure in the country.
“95 percent of the market for equipment
for the health sector in Indonesia is met by
imports. With the coming massive new buildings
of hospitals and clinics follow a whole new range
of opportunities for Danish suppliers that have
established relationships or some sort of presence
in the market.”
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Invitation to Swedish digital know-how
Indonesia forum
Business Sweden, the Swedish Embassy and
Ericsson are inviting to participate in a two-day
event focused on unlocking the digital potential
in Indonesia. The event, taking place on 6-7
September 2016, offers a unique opportunity to
showcase world leading Swedish digital know-how
for Indonesian decision makers.
Business Sweden has identified strong business
potential for Swedish digital solutions within a
number of sectors and industries in Indonesia:
Intelligent Transportation: Urban transport,
Seaports, Airports, Railways, Highways
Cloud-based Services: Cyber security,
Software, Cloud computing
Security AND Surveillance: Border surveillance,
City security
Infrastructure For Digitalisation: ICT
components, Mobile technology
Part of Indonesia’s push for development of
the digital economy involves the recently designed
e-commerce roadmap, which addresses a number
of key issues such as guidelines for logistics services,
financing for start-ups (here startup platform Plug
and Play could contribute), consumer protection,
communication infrastructure, e-commerce
business tax, education, and cyber security.
The Sweden Indonesia Digital Forum will
provide Swedish companies with an opportunity
to meet potential customers and partners in a
relaxed and out of the box setting. The event will
focus on know-how sharing and discussions on
how Swedish digital solutions can turn Indonesia´s
digital potential into business opportunities and
economic growth.
Why participate in the delegation to Indonesia?
+ Be introduced and get connected to the
Indonesian decision makers
+ Pitch how your solutions, products and
services can support the digital transformation
of Indonesia
+ Utilize the strong interest Indonesia has in
Sweden as a front runner within digitalization and
creative economy.
On day two participants get the possibility to
visit the digital Jakarta Smart City Lounge, listen to
keynote speakers by Indonesian digital leaders and
meet one-on-one with prospective customers
and partners.

Scandinavian Business Seating highlights HAG Capisco
News Brief
As people are returning from their annual leave, Scandinavian
Business Seating (SBS) – a designer and producer of Scandinavian
designed office chairs – highlights the extraordinary HAG Capisco
chair from Norway, intended both for the home and work environment.
Today’s workplace and advanced technology, forces us to sit for
countless hours every day. Those who care about the health of their
employees and families and want to prevent future back issues from sitting,
you should explore the HAG Capisco chair!
“The original HAG Capisco chair is a design classic that has been around
for the last 32 years. As the largest office chair manufacturer in Europe, the
HAG Capisco chair is still today the best- selling chair under SB Seating,
which is based on its unique design and comfort that makes it a leader
amongst chairs worldwide,” says Henrik Meltesen, Regional Sales Manager
SEA, SB Seating.
“Comfort comes from movement and variation, which HAG chairs
inspire, better than any other chair in the market, together with exceptional
posture. In addition, the HAG Capisco enables the user to work at all heights
and positions, which makes it the ideal chair to use at height adjustable
workstation.”
“On multiple occasions employees at companies that use our chairs,
contact us to purchase a chair to maintain the same level of comfort when
sitting at home “ adds Henrik.
The HAG Capisco chair was designed by the pioneering designer and
artist Peter Opsvik in 1984 and is known for both its exceptional comfort
and as a design classic. As the only chair in the market, that allows you to
sit at all heights, which makes it extremely versatile and fit for all type of
purposes and people. The chair is now available in Asia at SB Seating -
Making the world a better place to sit!
info-asia@sbseating.com, www.sbseating.com
August 2016 • ScandAsia.South East Asia 3

News Brief
Nordic midsummer celebration in Manila
Nordic Business Council of the Philippines
(NBCP) brought together members and
guests to celebrate the Summer Solstice
at the Makati Garden Club on 25 June 2016.
“The evening was a blast - everybody got a
kick out of the potato sack race and egg relay
around the midsummer pole, while the kids
had a great time in the magic show. The flower
crowns worn by the ladies and the singing over
schnapps led by the gents definitely relived
this yearly Nordic tradition. And of course, the
sumptuous buffet dinner prepared by Swedish
chef Robert Lilja brought everyone closer to a
true midsummer experience,” reports NBCP.
In addition, a silent auction was organized for
the benefit of Chosen Children Village, a home
for abandoned children who are physically and
mentally challenged. The KLM round trip business
class ticket from Manila to any Nordic destination
went to the highest bidder at PHP 100,000.
The Nordic Midsummer Night Feast was
organized by the Nordic Business Council of
the Philippines and Scandinavian Society of the
Philippines with the support of KLM and Cricket
Lighters.
Swedish National
Day celebration
2016 Hanoi
On 6 June the Embassy of Sweden in
Hanoi invited guests for the celebration
of the National Day. Here is a glimpse
of the evening.
Entertainment for the evening was:
DJ: Jonathan Glaser.
Live Music: Funkestra
4 ScandAsia.South East Asia • August 2016

Scandinavian Business Seating owns the brands HÅG of Norway,
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Our mission is:
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We achieve this by providing our customers with comfortable, ergonomic
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Scandinavian Business Seating brings you the best office,
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August 2016 • ScandAsia.South East Asia 5

News Brief
Cambodia celebrates Swedish National Day in style
6
June 2016 fell on a Monday, as the Embassy
of Sweden Phnom Phen celebrated the
Swedish National Day in style at the
InterContinental Hotel.
The event was presided over by guest of
honour, Prak Sokhonn, senior minister for Foreign
Affairs and International Cooperation, and hosted
by Swedish Ambassador Anna Maj Hultgård. More
than 350 distinguished guests attended, including
government officials, diplomatic missions, private
sector and development partners, civil society,
and other friends of Sweden.
The atmosphere was vibrant, open, and
informal, reports the embassy. It was also an
occasion to showcase Swedish activities in
Cambodia during the past year. The event was
spiced up by a great performance by Bella Voce
choir singing Mamma Mia (ABBA) songs, followed
by Swedish DJ Jonathan, who made the crowd
rock the dance floor to Swedish music. Guest also
enjoyed Swedish delicacies.
Photos: Chhim Sreyneang and Film Noir
Studio.Premium Event & Instant Photography
since 2012.
6 ScandAsia.South East Asia • August 2016

News Brief
Sweden’s ambassador presents Cambodia business opportunities
By Joakim Persson
The Swedish-Thai business community was
given a rare opportunity to be briefed
on the investment climate in Cambodia,
courtesy of departing Ambassador of Sweden to
Cambodia, Ms Anna Maj Hultgård.
The special seminar: ”Doing Business i
Cambodia: Opportunities & Challenges” was
hosted by and held at the Embassy of Sweden,
Bangkok on 23 May, including among others
members of the Thai-Swedish Chamber of
Commerce.
Ambassador Hultgård began her presentation
by saying that she wished to give a balance and
up-to-date image of Cambodia in substance and
perception.
“I saw how much Cambodia had moved, and
the connections we have and tremendous access
to ministers etc., and thought we should do more
on the business and trade side.”
Aid will soon be phased out, with some
donor countries having already left the country,
informed the ambassador and continued: “The
image of Cambodia is about war, the Khmer
Rouge, which is part of its modern history. But for
us living there and seeing the tremendous growth,
I saw a mismatch about the image of this country.”
“It’s a very open country. What happens in
Cambodia is out there. All UN organisations are
there, and the reporting is open. I highlight this as
a positive aspect; even the smallest abuses taking
places is all reported. All Human Rights bodies are
there, being very critical and very active. This in a
way also contributes to one image, that is at least
partly true, but sometimes give and unbalance
and unfair image.”
Some chambers of commerce surveys show
a perception that may not be the updated one,
she said.
“The image works a bit against, but it is not
really corresponding to what is there today.”
Then she pointed to some indicators for
the country: the hospitality industry has been
booming in Angkor Wat, but also moving on
to the coast; shopping centres, being new in a
commercial context, there are in total twenty new
to come on to the market; and that Cambodia has
a very young and vibrant generation.
“The youth is one of the great potentials. The
demographics data continues to accommodate
economic transformation; with strong increase in
the available work force.”
“I think there is great potential, but also point
to some challengers that can be overcome.
Looking at macroeconomics, the ambassador
pointed to that the country ranks among the
most rapidly growing economies in the world
with a growth at about 7 per cent per year.
And there are reduced poverty and income
disparities, where poverty has fallen from 50% in
2004 to 18% today.
“In some aspects Cambodia is where Thailand
was 15 years ago, but Cambodia can also leapfrog
on many aspects. Its technology sector is huge!”
Garments and construction sector are the
main engines of growth and remain resilient
despite global slowdown.
Manufacturing, construction, assembly,
agribusiness and food processing are others.
“Cambodia’s labour standards are somewhere
in the middle. There are other issues, such as
transport to and from the factories.”
In response to CSR questions from the
audicne the ambassador said that the Swedish
embassy is working very actively with companies
on CSR and hat Swedish companies should be
able operate in difficult markets as well.
“Every factory is being monitored by the
International Labour Organisation.”
The ambassador described the country’s
government as business-friendly.
“The investment schemes are very liberal.
Ease of doing business ranking is moving up.
Mostly there are too few rules and you might lose
out a bit on unpredictability.”
“It takes a bit too long still to set up a
company,” the ambassador thought.
There is sometimes no legislation, such as for
the construction sector, though the country is
aware of that being an issue.
Their new Industrial Policy has clearly
expressed what needs to be in place in
Cambodia concerning infrastructure, connectivity,
productivity, and skills & SMEs.
“Part of the government’s plan and what we
also see is needed is to move up the value chain
and having the capability to do the processing,
and to move up to the higher end in the garment
sector.”
Reasons to invest there she highlighted:
competitive labour force; preferential market
access to EU and the U.S; its geographic location:
in the heart of SEA; low taxes; and the quality
of life.
Cambodia has “extremely liberal investment
rules”. Only on land there are restrictions but
foreigners can own factories and buildings. Land
lease can be up to 99 years long. There are also
no limitations on bringing in foreign workers. Also
repatriation of profits is not restricted.
As for challenges these are: corruption; weak
institutions and implementation, high energy costs,
infrastructure still being under development, skills
gap, and a deteriorating political context.
Tensions are expected to increase in the
run up to the elections in 2017 and 2018, with
polarisation in politics and society.
August 2016 • ScandAsia.South East Asia 7

News Brief
Amb Charlotte Laursen inaugurates Viedam Mould
and Research manufacturing
Viedam Mould and Research is the brand
new, grand-scale, modern technology &
total solution tool manufacturing company,
located in Saigon High tech park, Ho Chi Minh
City in Vietnam that opened on 26 May 2016.
Denmark’s Ambassador to Vietnam, Charlotte
Laursen, participated in the opening. This new
modern and inventive facilities of VMR can be
seen as a visual result of the transformation of
the Danish Vietnamese relationship over the
years - moving from aid to trade and towards and
a comprehensive partnership, writes the Danish
embassy.
Located in the heart of HCMC the joint
venture between Vietnamese partner Anlap and
Danish company BEEF was present in Vietnam for
more than 10 years through Danish development
assistance, B2B program. Today the Company has
over 150 skilled employees with two factories
providing high quality molds for domestics and
overseas market.
VMR is a collaboration between the best of
two worlds; Danish ingenuity and Vietnamese
expertise within the field of toolmaking and
production!
Together with its partner Viedam VMR can
supply the customer with everything from new
part ideas, designs, advanced tooling, QC and
verification.
EU funds Swedish
transparency effort
in Cambodia
On 23 June 2016 Sweden and EU signed
a three-year agreement through which
the EU will provide 7 Million Euro to
Sweden for targeted capacity building. Sweden
will co-finance the program with about 3.3 million
Euro.
The Partnership for Accountability and
Transparency (PAT) program aims at strengthening
the priority areas of Cambodia’s PFM reform:
revenue mobilization, economic statistics, external
audit, budget transparency, external oversight
through the Parliament and anti-corruption.
Partnership is a key word in this program. To a
large extent, implementation takes place through
institutional cooperation between Swedish
government agencies and their Cambodian
counterparts, which also provide the foundation
for broader and deeper relations between
Sweden and Cambodia. However, the most
important type of partnership is that between
Cambodian actors and organizations involved in
the program: the National Audit Authority, the
General Department of Taxation, the National
Institute of Statistics, the Parliamentary Institute
of Cambodia and Transparency International
Cambodia.
Danish happiness presentation in Malaysia
What makes a nation happy? To foster
debate about the relationship
between society and human
wellbeing, the CEO of the Happiness Research
Institute in Copenhagen, Mr. Meik Wiking visited
Kuala Lumpur on 2-3 June as part his Southeast
Asia tour.
In collaboration with the National Institute
of Public Administration (INTAN), the Embassy
of Denmark Kuala Lumpur proudly hosted a
public event on 2 June, where Mr Wiking gave a
presentation on what makes Danes among the
happiest people in the world, and engaged in a
debate about the relationship between society
and wellbeing, and how to measure happiness.
Achieving and measuring happiness is of
growing interest in Malaysia where the Economic
Planning Unit (EPU) in the Prime Minister’s
Department has introduced a Malaysian Wellbeing
Index. To give the Malaysian perspective on
the topic of measuring happiness, the Director
of Macroeconomics at EPU, Ms. Zakiah Jaafar
presented the results of EPU’s work with this
index.
Mr. Wiking’s visit to Malaysia is part of a joint
effort among the Danish embassies in Bangkok,
Singapore and Kuala Lumpur.
8 ScandAsia.South East Asia • August 2016

Dag Juhlin-Dannfelt takes over
Sweden’s Malaysia mission
The next Swedish Ambassador
appointed to Malaysia is
announced! The Swedish
government has appointed Mr Dag
Juhlin-Dannfelt as the new Swedish
Ambassador to Kuala Lumpur.
Juhlin-Dannfelt is currently
Sweden’s ambassador in Riyadh,
Saudi Arabia. He has previously
served at among others, the
Swedish embassies in Teheran, Tel
Aviv and Islamabad, and as deputy
director of the Foreign Ministry’s
Middle East and North Africa
Department. He will commence his
role as ambassador in Kuala Lumpur
on 1 September 2016.
Sweden’s new Asia strategy
confirmed
News Brief
Swe Ambassador’s Cambodia
posting ended
In early July 2016 Ambassador
Anna Maj Hultgård’s posting as
Sweden’s Ambassador to Phnom
Penh came to an end. During her
week of farewell the Ambassador
met with Prime Minister Hun Sen,
President of the National Assembly
Heng Samrin, Foreign Minister Prak
Sokhonn, ministers, diplomatic
missions, opposition party leader,
civil society partners, colleagues and
friends to Sweden.
“Ambassador Anna Maj
Hultgård at the Embassy! We would
like to thank you for these great
three years of your excellent work
in Cambodia. We wish you all the
very best! Thank you for always
helping those in needs and for
always being there to do a good
deed. People like you are a few and
far between. Many blessings on your
life’s journey. From all of us at the
Embassy,” wrote Ms. Sambath Lao,
Commercial and Communications
Officer at the embassy’s Facebook
page.
INTERNATIONAL BOARDING SCHOOL OF SWEDEN
On 22 June Sweden
adopted its new strategy
for regional development
cooperation in sub-Saharan Africa
and Asia and the Pacific Region for
the period 2016–2021.
Regional development
cooperation in Asia and the Pacific
Region will focus on strengthening
regional actors and states to take
greater responsibility concerning
the environment and climate,
human rights, democracy and
gender equality. The focus is to be
on cross-border challenges, where
solutions can best be sought in
regional cooperation.
“We focus regional development
assistance in Asia and the Pacific
Region to the places in the region
facing the greatest challenges – in
the human rights area and with
regard to the effects of climate
change and environmental damage,”
says Minister for International
Development Cooperation and
Climate Isabella Lövin.
Asia and the Pacific Region will
be hardest hit by climate change.
The effects are particularly evident
for small island states in the Pacific
Ocean.
“We now have the opportunity
to contribute to strengthened
regional cooperation on adaptation,
renewable energy and other
matters.”
The new regional strategy
amounts to SEK 300 million per year.
In total, the strategy encompasses
SEK 1800 million for the strategy
period.
“An international boarding school in an idyllic, safe and secure environment.
Grennaskolan provides not only good foundations for your future,
but also for your well-being here and now”
www.grennaskolan.se
+46(0)390-33208 / info@grennaskolan.se
August 2016 • ScandAsia.South East Asia 9

Swedish Ambassador
on Cambodia’s potential
By Joakim Persson
‘‘I
will miss Cambodia a lot; there is
something with Cambodia that gets to
you. So, definitely, I will try to return and
visit once a year or so. It might be very
frustrating at times but the country and
its people are fantastic!” Swedish Ambassador to
Cambodia, Anna-Maj Hultgård, concluded as she
was about to end her stint there.
She returned to the headquarters of Sweden’s
Ministry of Foreign Affairs this summer.
Having visited nearly all corners of Cambodia,
the ambassador has amassed many insights that
she gets to share with ScandAsia’s readers at this
junction in her diplomatic career.
She encourages Swedes who are already
in the region or are passing through to give
Cambodia a chance: “Go and visit and get an
updated image of what Cambodia is, and see the
opportunities. Once you are there you’ll get the
impression of a forward-looking society. There are
challenges, in terms of for example wide-spread
corruption. But there are opportunities not to
miss out on, especially for businesses already
being in the region.”
She made this statement at a Business Sweden
seminar in Bangkok and has also been to present
in Singapore and on a road show to Sweden,
along with the other ambassadors based in Asean.
“It’s not always Cambodia itself that will draw
the attention but by being part of the Asean
market, with its 600+ million people, makes a
difference,” believes Anna-Maj.
“My work has been focused on making
Cambodia more known, to provide a more upto-date,
balanced view that is more about what
Cambodia represents today. It’s still early days but
I think it’s coming, slowly.”
The preconception of this as still being a
war-torn country she thinks does not match with
reality.
“It’s also visible that it’s not only about
urban development – people are getting better
livelihoods in the countryside as well, which I think
is promising.”
“We are happy to assist from the embassy
and Business Sweden is willing to support.”
“And EuroCham Cambodia has in the last two
years been very active and we work closely with
them. That’s also a natural partner in support of
and in collaboration on business and investment
locally in Cambodia,” says the ambassador.
The organisation handling foreign investment
is CDC – The Council for the Development of
Cambodia.
“Within CDC a major, industrial plan has
been put forward that has a long-term strategic
goal and where they also point to certain sectors.
They have identified obstacles to further growth
that are very clearly spelled out, and it has been
given the highest priority for all ministries to
address those.”
There is a willingness to do so, on a political
level and within the agencies, but it still takes
some time to implement and take the necessary
steps. All institutions in Cambodia are still very
bureaucratic, concludes Anna-Maj.
There is also an ongoing private-public business
forum dialogue, where, among others, EuroCham
has put forward very clear recommendations.
“From the embassy we are very active on
issues that might also be challenging for companies,
concerning corruption and human rights issues.
That is also in support of business to be present
also in sometimes challenging markets.”
“Cambodia has been relying on aid to a large
extent, but also been seeing immense economic
growth. Even if from a very low level Cambodia
is one of the top ten countries in terms of fastest
growing economies in the world!”
All the institutions and the government within
Cambodia are working to support business and
investment. They have also been quite successful
with two trade ministers in a row hand-picked
from business sector – who know business and
do not have the bureaucratic approach.”
“From what I have seen, which is quite
impressive, is that there is strong support and
awareness from the government about the need
to attract business and investment.”
“I also like is that Cambodia is a very open
and international; they look with curiosity towards
everything foreign. There is an urge to get more
brands in, and you can see it on policy level as
well; an acknowledgement that Cambodia is a
small market. So it’s important to have an exportdriven
economy and be outward-looking. They
need to be open, so trade and investment rules
and regimes are very liberal, and I don’t think they
will ever turn into a protectionist society.”
During her posting in Phom Penh Anna Maj
has been able to utilise Sweden’s established and
strong connections in the country.
“I have focused on really broadening and using
also the really excellent network and relations
we have, given the long-term, development
10 ScandAsia.South East Asia • August 2016

I am one of few female
ambassadors, and also
given the priority in general
Sweden puts into this topic,
combined with the interest
from Cambodians on all
aspects of life to learn more
and interact on gender and
gender equality issues. And
that affects or influence in
many work areas where we
try to have a gender equality
perspective.
cooperation – and build on that and to increase
the focus on both trade and investment but
not least making Sweden more known, also in
terms of cultural exchange and participation and
through visibility to what activities we are doing
at the embassy.”
The ambassador says she has tried to be
smart by using social media, and been successful
in reaching young Cambodians well, who are
“very apt and keen on social media”.
The embassy has been active in book and
education fairs, and in relation to the ongoing
development support from Sweden, where
humanitarian efforts have gradually given way
to long-term cooperation, since Sweden’s aid to
Cambodia began in 1979.
The Swedish International Development
Cooperation Agency (Sida) is currently running
the co-operational results strategy (2014-
2018), aiming to: improve the conditions for
democratic development in Cambodia; improve
the opportunities for people living in poverty to
contribute to and benefit from economic growth;
and increase resilience to climate change.
Cambodia’s steady growth combined with
the transition from a post-conflict to a more stable
situation, has led to improvements for Cambodia’s
people. A large share of the population, however,
still live just above the poverty line and are still
very vulnerable to any economic, ecological or
climate changes, Sida evaluates.
“To be fair, Cambodia is seeing tremendous
development in terms of addressing poverty. And
we are a bit surprised that the economic growth
is still relatively inclusive, even though you can just
by going around in Pnom Phen still see quite huge
differences,” comments Anna Maj. “Just during the
last ten years the poverty rate has come down
from almost 50 to 17 per cent, which is a very
good. Also in addressing all the Millennium Goals
the country has been very successful. But on the
political side, all the democratic institutions are
there but they are weak, and it’s been the same
party in power and also the same prime minister
for thirty years.”
The governing party holds much of the power,
putting opposition parties in a vulnerable position.
Poor people’s rights are strongly limited. Sida is
working to distribute power across local levels
and to strengthen the work of non-governmental
organizations (NGOs) at grass-roots level.
Through the work of supporting NGOs,
Sida is promoting for instance legal advice,
observations and documentation of human rights
violations, anticorruption and the development of
a free press.
Sida supports the democratic processes by
working on a broad level to support public
administration reforms as well as public
participation for increased democracy.
By supporting the government’s programme
for decentralization, channelled through the UN’s
Development Programme, publicly-elected local
authorities in rural areas have been established,
leading to greater self-determination.
“It’s about meeting and supporting both the
supply and the demand side, which I think is the
successful approach. I saw that around the last
elections people voiced their concerns and also
were very clear on their expectations much more
than before and I think that our support has been
contributing to that. And now it’s important that
this momentum is not lost when political and civil
society space is a bit more questioned,” says the
ambassador.
In one initiative supported by UNESCO and
the Embassy of Sweden, Cambodia’s Women’s
Media Centre (WMC) has been part of a group,
involving more than 15 civil society organizations,
academia and ministries, at the forefront of efforts
concerning access to information.
Gender equality is one area where Anna Maj
believes has been able to make a difference: “I am
one of few female ambassadors, and also given
the priority in general Sweden puts into this topic,
combined with the interest from Cambodians
on all aspects of life to learn more and interact
on gender and gender equality issues. And that
affects or influence in many work areas where we
try to have a gender equality perspective.”
Within education Sida’s long-term support
has contributed to 95 per cent of the country’s
children starting school today. However, Only 65
per cent of the women are able to read and write,
and only a few of the children continue to higher
education, which is a large problem.
Sweden builds further on the trust it has built
up with key stakeholders through its long-term
commitment in the primary school sector in
order to gradually increase the focus on education
geared to the needs of the labour market, thus
contributing to increased employment.
Cambodia’s biggest potential the ambassador
sees in its young population. “The demographic
factor talks to Cambodia’s advantage; more than
65 per cent are under 30 years old, and they are
more educated than previous generations. When
I meet them I notice a great potential. Cambodia
is now moving up to become a lower-middle
income country soon, but I think the potential is
still that it’s competitive in terms of labour costs,
though still there is work to be done on the skills
side.”
August 2016 • ScandAsia.South East Asia 11

NBCP and Apples & Spears
supports Asean market ent
By Joakim Persson
Nordic Business Council Philippines
(NBCP) is a Manila-based trade &
investment and business support
organization between the Nordic
and Baltic countries and the
Philippines.
Apples & Spears is a Singapore-based market
entry consultancy that supports Scandinavian
start-ups and SMEs in exploring opportunities
to provide their products and/or services to the
Southeast Asian markets.
NBCP and Apples & Spears have partnered
up in 2016 to strengthen their regional presence,
and to provide broader range of in-depth market
knowledge for the clients of the two businesses.
The two have found what they believe is the
perfect match.
“We are very happy to have found the
right partner in the Philippines. Nordic Business
Council Philippines with their solid local market
knowledge, extensive network and invaluable
connections was the highest on our partner wish
list,” says Sandra Appelqvist, co-founder of Apples
& Spears.
”Thanks to the partnership, we are better
positioned to reach out to potential clients, but
we can provide a wider geographical range of
services to our existing clients. Also, our way of
working and objectives are well aligned, and as we
are both small organizations, so it makes sense to
craft partnerships,” says NBCP Executive Director
Joona Selin.
This partnership introduces a new channel
partner for NBCP’s market entry consulting
services.
“Asean [the Association of Southeast
Asian Nations] integration further stresses
the importance of having a regional approach
to Southeast Asia. While our focus is on the
Philippines, the partnership with Apples & Spears
adds a key element to our regional network,
enabling us to serve our members and clients
even better.”
Commenting further on what they foresee
with this new co-operation Apples & Spears
say: “Our partnership with NCBP is part of our
strategy to build a strong local partner network
with expertise in the region. Since many of the
companies we are talking to have a regional
perspective on their market entry strategy, it is
only natural for us to ensure deeper cooperation
and relationships in the most important markets.
The Philippines is one of them. The goal with
our partnership with NCBP is to take on shared
projects, but also to be able to refer clients to
each other.”
“For our clients, who often start their regional
market entry with Singapore as a hub, the
Philippines is another intriguing growth market,”
explains Apples & Spears co‐founder Agneta
Spjuth.
“Most companies planning a market entry
in Southeast Asia have a long-term regional
agenda, which we want to facilitate by building
up a strong partner network within Asean,” says
Sandra Appelqvist.
Apples & Spears are in ongoing dialogues to
broaden their network in the region.
“When we talk about partners, we also include
other types of competencies than we ourselves
or partners, like NBCP, can provide. Our network
also consists of local companies and consultants
within HR/recruitment, cultural training, sales, data
capture, accounting and administration etc. It is a
constant process to organically grow our network
of contacts and partners.”
Asean, it should be added, can be seen as
one single market but is also the umbrella name
for many, very diverse, country markets including
those in Southeast Asia.
Apples & Spears describes their approach:
12 ScandAsia.South East Asia • August 2016

synergy
rance
“Southeast Asia is not a homogeneous market
but have a variety of opportunities and challenges,
depending on which country we’re looking at.
For us, the most important starting point is to
understand how our client’s business, business
model, current markets, offering and strategy looks
like and based on those specific circumstances
drill deeper into relevant markets to identify
opportunities and seek out market gaps. If a
market is big, with high GDP growth and is called
an emerging market does not automatically mean
that it is a suitable entry market for all clients.”
Their clients, since the start in November
2014, are from several different industries such
as Medtech, Edutech, Healthcare and Cleantech.
“All these industries seek innovations and
services to better support the region’s long
term and sustainable growth from several angles.
Southeast Asia is transforming rapidly and that
process demands smart solutions and ideas both
from inside and outside the region. Our aim is to
continue to work with those companies that can
really bring added value to the market and make
a difference.”
Apples & Spears’ start was based on a study
that they conducted together with 30 Scandinavian
SMEs already established in the region and where
they identified the main challenges these were
facing when starting up their ventures here.
“The study clearly showed in what areas these
companies would have benefited from having
more support during their market entry process,
areas in which Apples & Spears together with our
local network could facilitate and support.”
“Southeast Asia is a growth region with
several emerging markets in need of creative
and innovative products and services to help the
region build a sustainable future. In this sense,
Scandinavian companies have a lot to offer, a fact
that was another driver when establishing our
business.”
NBCP’s Joona Selin first met the Swedish
consultancy duo late 2014 in connection to a
SBAS luncheon in Singapore where he held a talk
about business opportunities in the Philippines.
“With this partnership, we are targeting
Nordic SMEs who need external assistance
in finding business partners: clients, agents,
distributors, suppliers, or in studying the market
opportunities in the Philippines. These companies
might be present in the region, but not necessary
in the Philippines yet. We are not limited to
particular sectors, but most of our work has
been in the ICT, healthcare & pharmaceuticals,
and industrial equipment sectors - we are in a
strong position to serve Nordic companies in
these industries.”
As for the strongest indicators for business
potential in and with Philippines Mr Selin highlights:
“From the macro view the 6-7% annual GDP
growth and the ongoing real estate construction
and infrastructure development boom provide
a strong foundation for business opportunities
across a number of sectors and throughout the
value chain. From the micro perspective this
means new companies and brands flocking in,
and new stores and restaurants opening shop.
It means cranes and construction sites all over
the place. In short - it’s an extremely dynamic
environment where you sense growth and
opportunity around every corner.”
Philippines can function as a hub to the region
or destination for outsourcing – either as service
or delivery center or as a production hub.
“Major Nordic companies such as Nokia,
Grundfos, NNIT, and Maersk, but also SMEs
are running global in-house operations in HR,
finance & accounting, software development and
IT here. For third-party outsourcing provider
Transcom, the Philippines is their largest country
of operation with ca. 10,000 employees.“
“As for manufacturing operations for
the export market, the Philippines houses
Nordic multinationals of the likes of Sonion
(microacoustics) and Swedish Match (lighters),
while also SMEs such as the SAWO sauna factory
and Christmas decor and lighting factory Tema
Design have found their homes here.”
SMEs are the type of businesses Apples &
Spears will focus on as they continue approaching
Scandinavian companies that they think should
be present in Southeast Asia based on identifying
interesting products or services that these offer.
“The ambition is also to be more present in
Scandinavia during this coming autumn to meet
clients and potential clients as well as broaden
our network at home. We also actively work
to spread information and knowledge about
Southeast Asia through our blog and social media.
By sharing interviews with company leaders,
experts and specialists in the region we hope to
encourage SMEs who are starting their journey
towards this region – to take the leap.”
August 2016 • ScandAsia.South East Asia 13

Sweden-Malaysia Innovation Days 2015
Inaugural
Sweden-Southeast Asia
Business Summit announced
By Joakim Persson
In the spring of 2015 Sweden’s Southeast Asiabased
ambassadors jointly, and in partnership
with Business Sweden, held seminars back in
the home country in order to promote the
various markets in ”their” region as being
ripe markets for increased Swedish export and
investment.
As an additional way to strengthen the Team
Sweden efforts and as a platform for engagement,
the inaugural ‘Sweden-Southeast Asia Business
Summit’ is now officially confirmed. With the view
that Southeast Asia is the world’s new growth
Håkan Jevrell
engine offering, as in the words of Sweden’s
ambassador to Singapore, ”fantastic opportunities
for Swedish companies to grow in a number
of areas”, this summit will take place on 21-22
September in Singapore, held at Parkroyal on
Pickering hotel.
During two days company representatives as
well as various business associations and official
representatives of Business Sweden and the various
embassies will gather to share best practices on
how to do business in this dynamic part of the
world. All Swedish businesses in Sweden and the
Southeast Asia region are welcomed to attend
this summit, hosted by the Embassy of Sweden
in Singapore, Business Sweden and the Swedish
Business Association of Singapore (SBAS).
”Southeast Asia is the world’s new growth
engine,” begins Sweden’s ambassador to Singapore,
Håkan Jevrell, when explaining the reasons behind
this new initiative to ScandAsia.
Southeast Asia is home to more than 650
million people with a rapidly growing middle class.
Despite slowing economic growth in China, the
Southeast Asian region is estimated to grow at an
average of 5 –6 percent annually in the coming
decade, making it the growth engine of the
world. The newly established ASEAN Economic
Community is likely to enhance growth further.
”Southeast Asia continues to show strong
growth rates despite the slowdown in the world
economy. Simultaneously, the interest for the
region is growing, as more and more companies
come to realize that Asia represents more than
just China and India,” says the ambassador in reply
to why the time is ripe for this even now.
”There is also a need to increase knowledge
about this region of the Swedish decision-makers,
both in politics and business. The purpose of
the Sweden-Southeast Asia Business Summit,
which we hope will become a regular event, is
to disseminate information on Southeast Asia
and the rapid development taking place here as
well as a forum for exchange between Swedish
and Southeast Asian business representatives
who are active in the region. Sweden-Southeast
Asia Business Summit is an initiative run jointly
by ’Team Sweden South-East Asia’, which means
all the embassies, Business Sweden offices and
chambers of commerce in the various countries
in the region.”
To be competitive in this evolving global
market, it is crucial for any CEO or board member
to have a clear understanding of the developments
in the region. The Sweden–Southeast Asia Business
Summit provides an excellent opportunity to get
insights from industry peers and policy experts
and to meet with potential partners.
Sharing of best practices on how to do
business in this dynamic part of the world will be
a key ingredient.
”I meet many business representatives in my
role as ambassador and I often hear that one lacks
a forum for experience-sharing and cross-sector
dialogue between business representatives. They
of course, have a lot to learn from each other.
Via ’Sweden-Southeast Asia Business Summit’
Swedish companies will have the opportunity
to share their experiences. Alongside a range of
14 ScandAsia.South East Asia • August 2016

Guests at SBAS Ball 2015 in Singapore
inspirational speakers and panels there will be
plenty of time for discussion and networking,”
replies Håkan Jevrell.
The summit will feature key political and
business representatives from Sweden, including
Mr Mikael Damberg, Minister for Enterprise and
Innovation; Mrs. Ylva Berg, CEO, Business Sweden
- the Swedish Trade and Invest Council; Mr
Marcus Wallenberg, Chairman of the Board, SEB,
SAAB Group & Foundation Asset Management;
Mr. Magnus Böcker, Executive Chairman of Blibros
and former CEO of Singapore Exchange and
many more.
“We have chosen a broad focus for this first
Sweden-Southeast Asia Business Summit, not
least because of the amazing breadth that Swedish
companies in the region represents. In Singapore
alone there are 250 Swedish companies presents,
many with regional headquarters, and ranging
from small niche consulting firms to banks and
manufacturing companies,” the ambassador says
about the summit.
Around 600 Swedish companies across
business sectors ranging from service to
manufacturing and retail are present in Southeast
Asia.
For outreach the ambassador explains that
this initiative is run jointly by ‘Team Sweden South-
East Asia’, which means all the embassies, Business
Sweden offices and chambers of commerce
located in region’s various countries in the region.
“We all have an important role to play in
reaching out to businesses with presence there
and ensure good attendance. We are very pleased
with the strong interest we’ve seen by businesses
to participate as partners. Our main sponsors are
Carl Bennet AB, Ericsson, SAAB, Scania, SEB and
Volvo. Singapore Airlines is the official airline of
the event. Other sponsors are Alfa Laval, Billerud
Korsnäs, IKEA, Nordea, SKF and Spotify.”
Team Sweden is an umbrella made up of
public authorities, government agencies and
companies that all work to promote Swedish
exports abroad. At home, Team Sweden is led
by the Ministry of Enterprise and Innovation.
Abroad, a local Team Sweden led by the Swedish
Ambassador will assist companies around the
world.
Through Team Sweden the Swedish
Government can provide coordinated and
effective export support to Swedish companies
that want to set up operations abroad, making
entry into the export market clear and simple.
The export support includes advisory services,
financing, marketing and the long-term promotion
of Sweden.
Learn more about the Summit and register
your interest today at www.sweden-sea.com.
Farewell and welcoming
at Carlsberg Malaysia
Carlsberg Malaysia arranged a cocktail reception in Kuala Lumpur to
welcome Lars Lehmann, taking over the role as Managing Director
of Carlsberg Malaysia on 1 July 2016, and to bid adieu to outgoing
Managing Director, Henrik Juel Andersen.
“I am entrusted to take charge of the Malaysia and Singapore
operations and oversee our investment in the Lion Brewery (Ceylon) Ltd. in Sri
Lanka. I have also been appointed as Chairman of Carlsberg Singapore Pte. Ltd,
am on the Board of Carlsberg Marketing Sdn. Bhd., a wholly owned subsidiary of
Carlsberg Brewery Malaysia Berhad, and Maybev Pte. Ltd., a 50% owned subsidiary
by Carlsberg Singapore Pte. Ltd,” said Mr Lehmann.
Prior to this appointment, he was the Regional CEO for Western Europe
Challenger Markets overseeing 11 European markets Germany, Italy, Greece,
Bulgaria, Serbia, Croatia, Portugal, Estonia, Latvia, Lithuania and Carlsberg ExLiD
(Export, License and Duty Free).
During 13 years with Carlsberg Groupv so far he has had various senior
positions within sales, marketing and general management and could successfully
delivered top-line, bottom-line and market share growth. He started out in the
Group Sales & Marketing, responsible for commercial development among others
working with Asia and Malaysia/Singapore.
The Carlsberg Malaysia Group was off to an impressive start this year with a
strong double-digit growth in profits for the first quarter ended March 31st 2016.
“On behalf of the Management and employees of the Carlsberg Malaysia
Group, I would like to take this opportunity to extend my heartfelt thanks to the
former Managing Director Mr. Henrik Juel Andersen for his admirable leadership
and invaluable contribution to the Company’s results. I wish him every success in
his new role as the Managing Director of Lao Brewery Company Ltd.”
August 2016 • ScandAsia.South East Asia 15

The moment
to tap the Philippine
furniture market is now
By Frederik Guy Hoff Sonne
The Philippine economy is a
thundering train and it is about time
for the Nordic design and furniture
companies to get on board, Joni Koro,
project manager at Nordic Business
Council Philippines and founder of GRØN Design
Solutions, says.
“The sheer amount of new office, retail and
residential developments is staggering. Although
I have lived in Malaysia, Mainland China and
Taiwan in the past, this is something I haven’t seen
anywhere before”, the Finnish Manila-resident
says.
With an annual growth of around 6 percent,
the island state is one of the world’s fastest
growing economies.
The construction boom is huge and in 2015
Metro Manila recorded the highest premium
office space take-up in history on 459,000 square
meters. Similar take-up of premium office space is
expected also for 2016.
Naturally this creates a great demand for
furniture and design companies to furnish the
office spaces.
A lot of multinational offices are opening
in Manila, and they are looking for sustainable
quality furniture and are ready to pay the price
for it, so the time to tap into the market is now,
Joni Koro tells.
But why now?
“Well if you ask me, actually we’re already late. It’s
like when talking about China, the best time to get
into the market was 5 years ago, but the second
best is now and this also goes for the Philippines”,
the Finnish entrepreneur says.
“Unfortunately Philippines has really been
flying under the radar in the Nordic region. There’s
a huge potential here, especially since the last six
years have been the best in the Philippine history.”
Joni Koro, Finnish
entrepreneur and
project manager
at NBCP, urges
Scandinavian furniture
brands to enter the
Philippine market.
Battling the US and European design
When Joni Koro says that the Scandinavian
engagement on the furniture market is already
late, it’s partly because more American and some
European furniture companies have already
jumped the gun and invested heavily in the
Philippine market.
As the market is now, American contract
furniture companies like Steelcase are the biggest
competitors on the market for any Scandinavian
quality offering, but more European companies
has penetrated or are about to penetrate the
furniture market as well.
Another reason why it is a good idea for
16 ScandAsia.South East Asia • August 2016

the Scandinavians to tap into the market is that
the name of the cold north is already hot in the
Philippines.
“The concept of Scandinavian design and
quality is fairly well known in the Philippines, but
the offering is mostly limited to local mock-ups
that rarely live up to the Nordic standards”, Joni
Koro says.
Why is Scandinavia and the Philippines
a match
If you ask Joni Koro there are several reasons why
Scandinavian furniture and the Filipino market
should be a successful match.
The most significant reason is a rising interest
for green awareness and thereby a demand for
sustainable and environmentally friendly furniture,
especially at the multinational offices, which
represents the most likely buyers for Scandinavian
furniture. This demand fits like a glove with what
Scandinavian furniture is famous for.
“The green movement is definitely getting
stronger in the Philippines. Looking at the new
office building developers, more and more of
them are applying for the US Green Building
Council’s LEED certification for their new
buildings, he says.
“The certificate works like a seal of approval
that your office is environmentally friendly and
of course gives the company a good name and
a chance to price the square meters higher in
a country where electricity price is one of the
highest in Asia,” says Joni Koro.
The certifications have become highly
popular. “I think out of the 80 upcoming high-end
office buildings, roughly 30 have already applied
for the certificate. These are the buildings the
multinationals also want to be located in”.
One way to achieve higher level in certification
is choosing a green furniture supplier, as this will
grant the company points when the application
is rated and most Scandinavian furniture
manufacturers have the green profile that grants
these points.
Another reason why Scandinavian furniture
fits the Philippine market is the traditions of
Scandinavian furniture.
Joni Koro’s own enterprise, GRØN Design
Solutions, is the local partner for Denmark’s
largest office furniture manufacturer, Duba-B8 as
well as for Finland-based silent space manufacturer
Framery acoustics. For Joni Koro these brands are
good examples on what Nordic furniture has to
offer in the Philippines.
“Duba-B8 products are highly ergonomic
Duba-B8 products are highly
ergonomic which starts to be
a hot topic also in Asia. In this
regard Scandinavians are the
world leaders.
which starts to be a hot topic also in Asia. In this
regard Scandinavians are the world leaders,” Joni
Koro explains.
“At the moment, the demand for ergonomic,
sustainable high-end furniture, that Nordic brands
often represent still comes mostly from the
multinational companies. But this is to change.”
“Another very interesting product is a
movable silent space from Finland. Framery silent
spaces address the noise issues at open plan and
activity based offices. This company is growing
four-fold this year - the demand around the globe
for their solutions is huge and we also see the
potential and need here in the Philippines”.
Any challenges?
As there might be many reasons and conditions
to tap into the market now, there are on the
counterpoint challenges to be aware of.
“Unfortunately the local demand for highend
sustainable office furniture is still fairly limited
and we can talk about niche market here. The
price matters,” Joni Koro admits.
“Even though the Philippines is closer to the
western cultures compared to many, or any, other
Asian country, most of the local companies still
rely on cheap Chinese furniture and on layout
design supporting individual work in cubicles
instead of collaboration and activity-based office
environmentsw.”
The Philippines elected a new president
in May 2016. The new man in charge turned
out to be Rodrigo Duterte, who is seen as a
highly controversial figure in Western media,
mainly because of his outspoken quotes on justice
Joni Koro in the
Framery’s O booth
– a single person
phone booth, he
distributes in the
Philippines as a
demo unit.
policy. But the new political situation shouldn’t
be a challenges for the market, Joni Koro says:
“Despite we have a new President in the country
the fundamentals are there. The growth of the
consumption-driven economy is further fed by
expanding Business Process Outsourcing sector
as well as Overseas Filipino Workers’ remittances,
which last year were the third largest in the world,
USD 26 billion. The Gross Domestic Product
(GDP) is set to grow by 5 to 7 percent in the
coming years. If Duterte does well with building
the confidence towards foreign investors and
can accelerate the infrastructure projects the
country could grow up to 8 to 10 percent, so the
economical situation is still fertile”.
The Scandinavian situation
When overviewing the state of Scandinavian
design in the Philippines in general, one senses
that there’s a taste for it. Some well-known brands
are responding to that and have already entered
scene.
Popular companies like BoConcept and Hay
have opened retail stores with help of local
partners. Republic of Fritz Hansen and some
other household names can also be found in
multi-brand design stores.
Joni Koro does his fare share to open the
market for Scandinavian furniture through NBCP
and GRØN Solutions.
“I want to bring authentic Nordic design and
especially quality to the Philippines - first to the
office market and soon after to the consumer
market as well. I want to build a gateway for
Nordic furniture and decor companies to enter
the Philippine market”.
Even though the Scandinavian design and
furniture mark in the Philippines is still fairly
unseen, things are developing, Joni Koro hopes.
A big leap would be to get IKEA to the market,
he says. “That would really create awareness of
Scandinavia”.
Do you have any advice to give if one
were to get into the Philippine market
with Scandinavian design?
“The demand for high-end products in the
consumer market is strong, but if you want to
play it safe and build the awareness of your brand
slowly you should start with fast-moving items like
decorations. If I should give any recommendations
you should of course do you research as always, be
committed to the market, and find a trustworthy
local partner to work with to deal with retail
restrictions.”
August 2016 • ScandAsia.South East Asia 17

News Brief
NBCP held a Renewable Energy Seminar
On 14 June, Nordic Business Council of
the Philippines, NBCP, held a Renewable
Energy Seminar at the New World
Hotel to discuss the current outlook and future
prospects of the sector in the country.
Mr. Petri Haataja, Head of Energy Consulting
of Pöyry provided an overview on the sector,
followed by Mr. Knud Hedeager, COO of
Alternergy; Mr. Leandro Legarda Leviste, Founder
of Solar Philippines; Mr. Tor Stokke, Country
Director of SN Power Philippines, who discussed
recent developments and challenges in the wind,
solar, and hydro power sector, respectively. Capping
the presentations was Mr. Walter Wassmer, Senior
Executive Vice President of BDO Unibank, who
gave a primer on BDO’s financing process for
RE projects.
Mr. Haataja discussed the role of RE in
alleviating some of the power issues of the
country. He acknowledged the importance
of the Feed-in-Tariff (FIT) system in increasing
intermittent generation capacity. Mr. Haataja
cited the case of Negros, where solar generation
capacity has outpaced the region’s peak demand.
He pointed out the opportunities in Mindanao,
which he expects to be much like Luzon in terms
of demand but will not be as reliant on coal-fired
power plants.
Mr. Hedeager provided a backdrop on the
success of Alternergy’s Pililla Rizal Wind Farm
project. Aside from providing clean energy, the
54MW wind farm has evolved into a tourist
destination that averages 1,000 tourists a day. He
also disclosed that their company intends to put
up a US$180 million 72MW wind project under
Alternergy Sembrano Wind Corp. Further, Mr.
Hedeager expressed Alternergy’s willingness to
partner with local investors, confirming that they
are in early talks with Lucio Tan’s LT Group. When
asked about the FIT, Mr. Hedeager shared that
the system has allowed RE projects to phase out
diesel power producers, resulting in lower spot
market prices for electricity.
Meanwhile, Mr. Leviste gave a spirited
presentation on the growing potential of the
solar power sector and how RE can solve the
power woes of the country. He stressed that
the production of solar power has become less
expensive than coal thanks to the development
of new RE technologies.
Moreover, he highlighted the generation
capacity of large-scale solar farms can compete
with coal power plants, if distribution utilities
conduct competitive bidding for their power
supply. Mr. Leviste also noted the growing number
of conglomerates shifting to RE. Mr. Leviste
recognized the importance of FIT to jumpstart
the industry but he preferred incentivizing the
Renewable Portfolio Standards (RPS). RPS is
a market driven policy that requires electricity
suppliers to source an agreed portion of
their energy supply (in on-grid systems) from
renewable sources.
Mr. Stokke provided an overview on the
current hydropower operations of SN Power.
He also shared his views on the country’s
cumbersome process of getting a permit and
issues on land acquisition and grid connection.
Despite these challenges, he still finds the local
RE market has become more competitive and the
willingness of local banks to finance RE projects. In
terms of FIT, Mr. Stokke was clear to communicate
his dislike of the scheme.
Delving into the funding side of RE, Mr. Wassmer
emphasized on the continued commitment of
BDO in the development of renewable energy in
the country. He highlighted the bank’s current P33
billion outstanding investments in hydro, wind,
solar, geothermal, and biomass projects across the
country. However, Mr. Wassmer reminded that
the bank is not a subject-matter expert in terms
of RE and just takes cue from RE developers. As
such, the bank uses profitability or eligibility for
the FIT incentives scheme as a measuring stick for
funding an RE project. At present, the Bank offers
short-, medium-, and long-term funding either
through syndicated or bilateral term loan.
Following the presentations, an open forum
was held in which the speakers further elaborated
on the immense potential of renewable energy
in the Philippines, particularly in Visayas and
Mindanao. They commended the incoming
administration’s pronouncement of increasing the
competitiveness of the energy market. In terms of
land use, the speakers had different views.
The renewable energy seminar was done in
partnership with BDO Unibank and Pöyry.
Source: NBCP
18 ScandAsia.South East Asia • August 2016

August 2016 • ScandAsia.South East Asia 19