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SINGAPORE: Singapore sovereign wealth fund Temasek has additional solidified its presence in Europe with the inauguration of its third workplace on the continent, located in Paris. This enlargement brings Temasek’s world community to a powerful 13 places of work unfold throughout 9 nations.
The opening of the Paris workplace, along with present places in London and Brussels, is poised to reinforce Temasek’s entry to funding alternatives and partnerships inside each the European Union (EU) and the broader Europe, Center East, and Africa (EMEA) area.
With a internet portfolio worth reaching $382 billion as of March 31, 2023, Temasek has demonstrated its dedication to the EMEA area, with its publicity rising almost fivefold since 2011 to $47 billion, comprising 12% of its whole portfolio.
Talking at a reception held at Le Petit Palais to commemorate the event, Temasek Chairman Lim Boon Heng mirrored on the financial uncertainties that characterised Europe when Temasek first ventured into the area a decade in the past.
Regardless of the challenges, Mr Lim highlighted Temasek’s imaginative and prescient of serving as a bridge between Europe and Asia, fostering partnerships with European firms each inside and outdoors the continent.
Aligned with 4 key structural tendencies—digitization, sustainable dwelling, way forward for consumption, and longer lifespans—Temasek has strategically invested in French firms resembling digital well being insurer Alan, e-commerce platform ManoMano, and quantum computing agency Pasqal.
The Singapore Authorities-owned firm is poised to deal with funding alternatives centered on vitality transition applied sciences, leveraging Europe’s management on this area to contribute to world efforts towards attaining net-zero emissions.
Nagi Hamiyeh, the newly appointed Head of EMEA at Temasek, emphasised the excellence of European companies in sectors aligning with Temasek’s funding focus and expressed the corporate’s intent to deploy substantial capital into main world enterprises and promising rising ventures in these sectors.
The inauguration of the Paris workplace coincides with Temasek’s fiftieth anniversary in 2024.
Talking on the occasion, Deputy Prime Minister and Finance Minister Lawrence Wong emphasised the significance of strengthening world connections amidst rising competitors and geopolitical tensions.
Whereas acknowledging prevailing challenges resembling conflicts and protectionism, the PM-designate highlighted the plentiful alternatives for collaboration and development worldwide. He pointed to Europe’s significance as a key participant within the world economic system, alongside promising developments within the Center East, Africa, China, India, and the ASEAN area.
Singapore, positioned as an important hub bridging Asia and the world, is intensifying efforts to deepen cooperation with companions like France, in step with its position as a connector in an more and more fragmented world, Mr Wong mentioned.
In an announcement, Temasek CEO Dilhan Pillay mentioned, “The Paris workplace opening signifies the significance of the EMEA area to Temasek, as we search to advance our 2030 technique to develop our world community and assemble a resilient and ahead trying portfolio, with sustainability on the core of what we do.
“Along with our London and Brussels places of work, the Temasek ecosystem and the partnerships we’ve got constructed, we stand able to collectively catalyse options for the most important challenges of our time.”
He added, “Temasek celebrates our 50th anniversary this 12 months. As we achieve this, our Function will proceed to information us to construct on our foundations to ship sustainable returns over the long run, to do issues in the present day with tomorrow clearly on our minds, so each technology prospers.”
Overseas Minister Vivian Balakrishnan, French Minister of Financial system, Finance, Industrial, and Digital Sovereignty Bruno Le Maire, and French Inside Minister Gerald Darmanin had been among the many company on the Temasek occasion on Wednesday (10 Apr), reflecting the robust bilateral ties between Singapore and France.
Minister Le Maire welcomed Temasek’s presence in France, citing Singapore’s exceptional financial success and its significance on the worldwide stage.
The publish Temasek expands European presence with new workplace in Paris appeared first on The Impartial Singapore Information – Newest Breaking Information
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