DPM Lawrence Wong and Foreign Minister Vivian Balakrishnan at a reception at Le Petit Palais on April 10 to mark the opening of Temasek’s new office in Paris.
Speaking at a reception at Le Petit Palais to mark the opening of the new office, Temasek chairman Lim Boon Heng recounted how Europe was still facing economic uncertainty coming out of the global financial crisis when Temasek opened its London office – its first in Europe – 10 years ago. There were financial crises affecting Portugal, Ireland, Italy, Greece and Spain.
Temasek will also be focusing on investment opportunities aligned to energy transition technologies going forward, given Europe’s leadership position in this area, Mr Lim said. The Paris branch’s opening comes as Temasek, which was incepted in 1974, celebrates its 50th anniversary in 2024. “We wish all these were not happening and we must certainly work hard to shape better global outcomes,” he added. “But we also have to be realistic because great catastrophes often seem unthinkable, until they actually happen. Things may well get worse before they get better.”Europe, for instance, is a key part of the global economy and the world’s largest trading bloc, with many French and European companies at the forefront of innovation.
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