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PR Newswire

INDONESIA MUST ACCELERATE DELIVERY OF DIGITAL STRATEGY TO ACHIEVE GOVERNMENT’S “TOP 10 GLOBAL ECONOMY BY 2030” AMBITIONS, SAYS GSMA REPORT

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The new report from the GSMA, published at its Indonesia Digital Nations Summit in Jakarta, evaluates Indonesia’s progress to becoming a digital nation and recommends action points to accelerate progress

JAKARTA, Indonesia, Dec. 9, 2023 /PRNewswire/ — The Indonesian government has made strong steps towards becoming a leading digital nation, according to a report published today at the GSMA’s Indonesia Digital Nations Summit in Jakarta. However, the country needs to adopt a “whole-government” approach and be more joined-up around critical policy requirements, if Indonesia is to achieve its goals of digitally transforming society and becoming a top 10 global economy by 2030.

By doing so, Indonesia stands to unlock circa $18 billion in investment from the mobile industry between 2024 and 2030, mostly on 5G networks. This, in turn, is expected to contribute $41 billion to GDP over the next six years.

As part of its key recommendations, the GSMA report, entitled “Forging a resilient digital nation: Proposals for Indonesia’s future”, analyses Indonesia’s journey to becoming a digital nation and recommends action points the government and industry must expedite to achieve this transition. Above all, the report outlines opportunities to improve and accelerate progress in each of the five pillars – Infrastructure, Innovation, Data Governance, Security and People – that will help it meet its ambition to becoming one of the world’s top digital nations.

Digital nations incorporate digital technologies and services into all sectors of the economy, with the aim to drive productivity and improve the livelihoods of citizens. 5G is a key component of the infrastructure required to power future digital nations, given its ability to deliver reliable network-based services and enable the emerging technology that will help to reshape the local economy and modernise industries.

Julian Gorman, Head of APAC at the GSMA, said: “While Indonesia has achieved notable success in its journey to become a digital nation, transforming the country’s digital ecosystem won’t be possible without the necessary investment from the private sector. To unlock this, a whole-government approach is needed to ensure the right measures are in place which encourage this, including incentivising infrastructure investment, simplifying sector-specific fees, and cutting red tape.”

Despite the country consisting of over 18,000 islands, Indonesia has achieved an expansive network of digital infrastructure with 96% of the population now covered by 4G networks. However, 5G mobile connectivity will be crucial to achieving new economic targets and investment will require “policy imperatives” to accelerate the rollout of 5G infrastructure, where it is needed the most. These recommendations include:

Ensuring sustainable investments in digital networks

The rollout of 5G is set to drive an increase in smartphone demand and data traffic. In Indonesia, shipments of 5G models grew 54% in Q3 2023 and accounted for 19% of the total. However, operators’ ability to expand network capacity and coverage is often hindered by regulatory constraints, market structures and excessive tax burdens. This has created an investment gap where market conditions for private investment in telecoms networks are not favourable enough to meet ambitious national and regional digital policy targets.

Therefore, the GSMA report calls on all parts of government to work together with industry stakeholders to:

  • Encourage voluntary infrastructure sharing (passive and active) to reduce the cost of network rollout, particularly in difficult terrains.
  • Reduce red tape for obtaining the necessary permits and right-of-way (RoW) for cell-site location and fibre deployment to ease network rollout, particularly 5G densification. For example, the amendment of RoW rules in India in 2022 has been credited for the rapid rollout of 5G and fibre infrastructure in the ensuing months.
  • Reduce and simplify sector-specific taxes and fees (including tower taxes and tower building permission fees, and various fees imposed by municipal authorities) to ease the cost burden of network rollout and operations and ensure the financial sustainability of the mobile industry.
  • Provide policy incentives to encourage investment in infrastructure. In South Korea, government incentives in the form of tax credits and tax reductions for operators announced in 2020 helped unlock investment of around KRW25.7 trillion ($22 billion) in 5G networks.
  • Allow further consolidation in the telecoms sector to drive synergies and the scale required for expansive infrastructure rollout.

Achieving sustainable spectrum pricing

As recently warned by the GSMA, Indonesia also risks a $14 billion (IDR 216 trillion) productivity loss to its economy, unless it focused on ensuring future mobile spectrum prices are sustainable. It therefore recommends that:

  • Reserve prices are set conservatively below estimates of market value to enable price discovery and reduce the risk of unsold spectrum.
  • Government reviews the formula for calculating annual spectrum fees (BHP IPFR) and consider adjustments to the parameters to provide the right long-term incentives and avoid disproportionate increases in costs that are not aligned with evolving market conditions.
  • A clear spectrum roadmap is laid-out that considers not only current bands being planned but also the longer term needs for Indonesia, especially for mid-bands in the 2025–2030 timeframe. Greater certainty around the availability of spectrum and associated conditions is crucial for operators to prepare investment plans, secure financing and develop strategies for network deployment and service delivery.

The Indonesia Digital Nations Summit

The report findings were published as the GSMA hosted its Indonesia Digital Nations Summit at The Westin Jakarta. To download the Indonesia Digital Nations report, please click here.

Indonesia has emerged as a key player in the global community, and the full-day event provided a platform to explore the country’s digital landscape in the context of its digital ambitions and cultivate engagement aimed at harnessing the potential of its digital ecosystem.

The GSMA welcomed a distinguished roster of speakers to the stage for several keynotes, fireside chats, and panel sessions on topics such as the vision for digital Indonesia, the role of telecoms networks in supporting its digital future, and the potential for 5G in the country.

About GSMA

The GSMA is a global organisation unifying the mobile ecosystem to discover, develop and deliver innovation foundational to positive business environments and societal change. Our vision is to unlock the full power of connectivity so that people, industry, and society thrive. Representing mobile operators and organisations across the mobile ecosystem and adjacent industries, the GSMA delivers for its members across three broad pillars: Connectivity for Good, Industry Services and Solutions, and Outreach. This activity includes advancing policy, tackling today’s biggest societal challenges, underpinning the technology and interoperability that make mobile work, and providing the world’s largest platform to convene the mobile ecosystem at the MWC and M360 series of events.

We invite you to find out more at gsma.com

PR Newswire

Amid record youth unemployment, over half of Arab youth in the Levant and North Africa want to emigrate for better opportunities: 15th annual ASDA’A BCW Arab Youth Survey

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DUBAI, UAE, Aug. 9, 2023 /PRNewswire/ — Over half of Arab youth in the Levantine and North African countries say they are actively trying to leave or are considering leaving their country for better opportunities. The desire to emigrate is strongest among young men and women in the Levant (53%) followed by North Africa (48%), with the primary goal of finding a job.

Over half of Arab youth in North Africa and Levant want to leave their home country
Over half of Arab youth in North Africa and Levant want to leave their home country

On the other hand, just over a quarter (27%) of youth in the Gulf Cooperation Council (GCC) states say they have considered emigration, with a majority saying they would ‘never leave their country.’

Most Arab youth say they would like to emigrate to Canada (34%), with the United States (30%) coming a close second, followed by Germany and the UK (both on 20%) and France at 17%.  

These are some of the key findings under the theme ‘My Aspirations’ in the 15th annual ASDA’A BCW Arab Youth Survey, the most comprehensive study of its kind of the Arab world’s largest demographic, its over 200 million youth, conducted by ASDA’A BCW, the Middle East and North Africa’s leading communications consultancy.

The desire to emigrate corresponds with the bleak economic outlook in many Arab nations. Nearly three-quarters (72%) of young Arabs in the Levant, and about two-thirds (62%) in North African countries surveyed  said their national economy is going in the ‘wrong direction’.

In the GCC, however, youth remain extremely optimistic, with nearly nine in 10 (88%) saying their country’s economy is headed in the ‘right direction’.

With youth unemployment in the Middle East exceeding 25% – the highest and fastest-growing in the world, according to the International Labour Organisation – getting a job is understandably a priority for young Arabs. Among those who said they are actively considering emigration, nearly half (49%) said the reason was to ‘look for a job.’

Despite their fears about their national economy, more than two-thirds (69%) of Arab youth believe their best days lie ahead of them, a 5% increase over 2022. Youth in the GCC are the most hopeful (85%), followed by those in North Africa (64%) and the Levant (60%).

Sunil John, President, MENA, BCW and Founder of ASDA’A BCW, said: “The increasing number of Arab youth seeking greener pastures abroad reveals two of their important characteristics: One, their disappointment in the lack of opportunities at home – for a good education and a successful career, and two, their eagerness to shape their own destiny.

“Youth emigration is a huge drain on the economy of the Arab world, which must be stopped if the region is to benefit from the youth dividend. The region is one of the youngest in the world with over 60% of its population, over 200 million, below the age of 30,” added John.

“Despite the bleak economies in North Africa and Levant, what shines through is the youthful exuberance of being optimistic of the future. This is evident in most young Arabs being defiantly hopeful about their chances for a better life. These findings underline that Arab countries must focus on creating the right enabling environment for young people to thrive – the responsibility for this lies with both the government and the private sector.”

ASDA’A BCW commissioned SixthFactor Consulting, a leading research company, to conduct face-to-face interviews with 3,600 Arab citizens aged 18 to 24 in their home nations from March 27 to April 12, 2023.

The initial findings of the 2023 edition of the ASDA’A BCW Arab Youth Survey, under the themes My Aspirations, My Global Citizenship, My Politics, My Livelihood and My Identity, are available with expert commentaries at arabyouthsurvey.com. The overarching theme of this year’s study is ‘Living a New Reality’.

Canada, US, Germany, the UK and France are the top destinations young Arabs like to move to
Canada, US, Germany, the UK and France are the top destinations young Arabs like to move to
PR Newswire

New partnerships and pro-investment reforms announced as tenth Mongolia Economic Forum takes place in Ulaanbaatar

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ULAANBAATAR, Mongolia, July 13, 2023 /PRNewswire/ — The tenth Mongolia Economic Forum (MEF) continues in Ulaanbaatar today amidst the announcement by the Government of two new bodies to support investment into the country and of new partnerships with Elon Musk’s SpaceX and leading geo-location company What3Words. This also follows the recent upgrading of Mongolia’s projected economic growth in 2023.

The Prime Minister of Mongolia speaks at the 2023 Mongolia Economic Forum in Ulaanbaatar
The Prime Minister of Mongolia speaks at the 2023 Mongolia Economic Forum in Ulaanbaatar

2,200 guests from around the world – including leading representatives from global businesses, the third sector and multilateral organisations – are gathering for this two-day event (9-10 July) to discuss how they can work in partnership with the Mongolian Government to deliver its goal of doubling the country’s GDP by 2030 and establishing Mongolia as a leading country in the region by the middle of the century.

Vision 2050 and the New Recovery Policy announced in 2022 set a clear strategic direction for Mongolia’s sustainable development to inform the Government’s wider policy programme. This direction has enabled rapid progress to date and provides the foundation for the latest round of milestones announced this year at the Forum.

This morning the Government announced the creation of the Private Partnership Centre and the Investment and Trade Agency, to support more investment into the country. The Investment and Trade Agency, for example, will provide ‘a bridge for business in Mongolia‘, providing assistance in the protection of investors’ legitimate rights and interests, helping expand import diversification and to improve the competitiveness of import substituting industries.

In addition, in his keynote address to the Forum this morning, Minister for the Economy and Development and Deputy Prime Minister Khurelbaatar Chimed outlined the opportunities for investment that exist in Mongolia and the Government’s intention to amend the Draft Law on Investment to help facilitate new investment partnerships.

Figures show that the Government’s focus on removing barriers to growth through its US$ 49 billion New Recovery Policy – unveiled in December 2021 – and Vision 2050 blueprint are continuing to deliver results. Following above-forecast growth of 4.8% in 2022 – 1.1% of which was attributable to the New Recovery Policy – and growth of 7.9% in the first quarter of this year, the country’s growth forecast for 2023 has been upgraded from 5% to 6%. The growth forecast for 2024 is now 6.5%.

This growth, particularly following the pandemic, was made possible by working closely with Dr Tedros Adhanom Ghebreyesus, Director General of the World Health Organisation (WHO). Through working together, we achieved remarkable vaccination coverage of Mongolians during the pandemic, with 90% of the target group receiving at least the first dose. This helped us end COVID-19 restrictions in February 2022, and ensured that our mortality rate was five times lower than in other countries. We are delighted that Dr Ghebreyesus has been able to attend this year’s MEF.

A key part of our ‘Vision 2050’ plan is fostering a culture of well-being. Since May 2022, the Government has run a campaign to encourage take-up of early screening and diagnosis services, a key milestone in encouraging the proactive management of our people’s healthcare. I am delighted that 1 million citizens have taken part in this initiative so far.

Two announcements of significant new investment in Mongolia have also been made over recent days, underlining the benefits being delivered by the Government’s pro-growth agenda:

  • The Government of Mongolia has entered into an unprecedented alliance with SpaceX, enabling millions of internet users in Mongolia to access high-speed internet through Starlink, particularly benefiting people in rural areas and supporting Mongolia’s digital transformation
  • The Government of Mongolia has also forged new strategic alliances with technology company What3Words, supporting the use of Optical Character Recognition technology to streamline postal services, and enabling the increased visibility of Mongolia’s heritage sites and key tourism spots

The Prime Minister of Mongolia, Oyun-Erdene Luvsannamsrai, comments:

“I am delighted to welcome guests from around the world to the tenth Mongolia Economic Forum to discuss how we can work in partnership to unlock the economic potential of Mongolia – currently one of the fastest growing economies in the world.

“This follows two major announcements of additional investment in Mongolia, and the commencement of underground production at the Oyu Tolgoi copper mine with Rio Tinto in March, demonstrating Mongolia’s growing attractiveness to international investors.

“Our impressive recovery from the pandemic, supported by the Government’s New Recovery Policy, provides a strong foundation for tackling long-term barriers to sustained high levels of growth. I welcome the opportunity that the Forum provides to discuss how greater collaboration can help us make even more progress in the years ahead.”

This year’s MEF, the tenth since the inaugural Forum in 2010, is being co-hosted by the Prime Minister of Mongolia, Oyun-Erdene Luvsannamsrai, and the Chairman of the Board of Directors of Rio Tinto Group, Dominic Barton, under the theme of ‘Welcome to Mongolia‘, emphasising the Government’s commitment to offering a warm welcome to visitors to the country whether they’re travelling for business or tourism. In his own keynote address to the Forum this morning, Mr Barton emphasised that the vision, ambition, resource, and talent that Mongolians have can achieve anything, adding that the strong economic conditions of a decade ago had returned to the country.

Highlights of this year’s MEF include:

  • A dedicated ‘MEF Youth’ event, exploring how the talent and potential of the majority of Mongolia’s population who are under thirty years old can be harnessed to help the country benefit from the technological and economic advances of the 21st century
  • Following the Government’s declaration of 2023 as the ‘Year of Anti-Corruption’, a series of events focused on convening experts from key international organisations to discuss how progress to date in this area can be built upon and Mongolia can learn from best practice around the world. This follows the number of cases referred to the courts by the anti-corruption agency that are resolved having risen from 26% in 2019 to 43% in 2022
  • Earlier today, the Ministry of Environment and Tourism and leading global environmental organisation The Nature Conservancy announced at MEF the launch later this month of a Conservation Trust Fund (CTF). By establishing a more sustainable system for the financing of conservation projects in Mongolia, the CTF will help Mongolia achieve its sustainable development and climate change goals
  • Four plenary sessions and fifteen sub-sessions on topics as varied as the digital economy, food manufacturing, sustainable growth, urban development and capital markets, are being held

A number of Government Ministers are available for media interviews, including in English. 

PR Newswire

Q1 2023 Global Semiconductor Equipment Billings Grow 9% Year-Over-Year, SEMI Reports

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MILPITAS, Calif., June 7, 2023 /PRNewswire/ — Global semiconductor equipment billings increased 9% year-over-year to US$26.8 billion in the first quarter of 2023, SEMI announced today in its Worldwide Semiconductor Equipment Market Statistics (WWSEMS) Report. Quarter-over-quarter billings slipped 3%. 

“Semiconductor equipment revenue in the first quarter was robust despite macroeconomic headwinds and a challenging industry environment,” said Ajit Manocha, SEMI president and CEO. “The fundamentals remain healthy for the long-term strategic investments needed to support major technology advancements for AI, automotive, and other growth applications.”

Compiled from data submitted by members of SEMI and the Semiconductor Equipment Association of Japan (SEAJ), the WWSEMS Report is a summary of the monthly billings figures for the global semiconductor equipment industry. 

Following are quarterly billings data in billions of U.S. dollars with quarter-over-quarter and year-over-year changes by region:

Region

1Q2023

4Q2022

1Q2022

1Q (QoQ)

1Q (YoY)

Taiwan

6.93

7.98

4.88

-13 %

42 %

Mainland China

5.86

6.36

7.57

-8 %

-23 %

Korea

5.62

5.80

5.15

-3 %

9 %

North America

3.93

2.60

2.62

51 %

50 %

Japan

1.90

2.25

1.90

-16 %

0 %

Europe

1.52

1.46

1.28

4 %

19 %

Rest of the World

1.06

1.32

1.29

-20 %

-18 %

Total

26.81

27.78

24.69

-3 %

9 %

Sources: SEMI (www.semi.org) and SEAJ (www.seaj.or.jp), June 2023

Note: Summed subtotals may not equal the total due to rounding.

The SEMI Equipment Market Data Subscription (EMDS) provides comprehensive market data for the global semiconductor equipment market. The subscription includes three reports:

  • Monthly SEMI Billings Report, a perspective on equipment market trends
  • Monthly Worldwide Semiconductor Equipment Market Statistics (WWSEMS), a detailed report of semiconductor equipment billings for seven regions and 24 market segments
  • SEMI Semiconductor Equipment Forecast, an outlook for the semiconductor equipment market

Download a sample of the EMDS report.

For more information about the report or to subscribe, please contact the SEMI Market Intelligence Team at mktstats@semi.org. More details are also available on the SEMI Market Data webpage.  

About SEMI
SEMI® connects more than 2,500 member companies and 1.3 million professionals worldwide to advance the technology and business of electronics design and manufacturing. SEMI members are responsible for the innovations in materials, design, equipment, software, devices, and services that enable smarter, faster, more powerful, and more affordable electronic products. Electronic System Design Alliance (ESD Alliance), FlexTech, the Fab Owners Alliance (FOA), the MEMS & Sensors Industry Group (MSIG), Nano-Bio Materials Consortium (NBMC), and SOI Consortium are SEMI Strategic Technology Communities. Visit www.semi.org, contact one of our worldwide offices, and connect with SEMI on LinkedIn and Twitter to learn more.

Association Contact
Michael Hall/SEMI
Phone: 1.408.943.7988
Email: mhall@semi.org

PR Newswire

Dialogue eyes key role of youth in RCEP region’s growth

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BEIJING, Dec. 24, 2022 /PRNewswire/ — The following article was published today by China Daily.

Investing in and empowering young people is vital for members of the Regional Comprehensive Economic Partnership free trade pact to shore up sustained growth and accelerate global economic recovery amid the ravaging COVID-19 pandemic, leading scholars and media executives said.

They made the call on Friday at the high-end RCEP Youth Dialogue themed “Pooling the strength of youth, promoting regional development”.

The dialogue, co-organized by China Daily, the China Institute for Reform and Development and China Oceanic Development Foundation, focused on the RCEP — a 15-nation free trade pact which was officially enacted on Jan 1.

The RCEP consists of all 10 members of the Association of Southeast Asian Nations, as well as China, Japan, South Korea, Australia and New Zealand.

The grouping accounts for around 30 percent of the world’s total population, economic output and trade.

Since taking effect this year, the RCEP has manifested enormous dynamism and huge potential for future development, speakers told the opening ceremony of the forum.

Qu Yingpu, publisher and editor-in-chief of China Daily, said, “The world economy has been struggling to recover in the face of multiple impacts. The prospects for the world economy next year remain far from rosy.”

As the free trade pact covering the largest population and size of economy and trade in the world in comparison with other pacts, the RCEP is “definitely going to further play its role as a stabilizer and a driver of the global economy”, he said.

In the first 10 months of this year, China’s total trade with the other 14 member states of the RCEP increased by 8.4 percent year-on-year, he noted.

“The RCEP substantially boosts the scale, quality and depth of regional economic integration, and it plays an important role in advancing the economic recovery, peace and stability of the entire region as well as the whole world, and boosting the well-being of the people,” Qu said.

In his speech, Qu called on young people in the RCEP member countries to pool their wisdom and create an enabling environment for the region’s development, boost mutual understanding among people in RCEP member states, and advance openness, cooperation and mutual benefit in the region.

Lyu Bin, president of China Oceanic Development Foundation, noted that the Asia-Pacific has become one of the most economically dynamic regions in the world, and it boasts a high level of trade liberalization.

“Over the past 100 to 200 years, the pivot of the global economy and trade was in Europe and North America. The founding of the RCEP symbolizes that the world economy is starting to shift its pivot to the Asia-Pacific region,” he said.

RCEP members now face opportunities brought by the free trade pact as well as unprecedented difficulties and challenges, he said.

The challenges include the lingering Ukraine crisis, the rocky future of global trade, dire problems in food and energy security and a possible stagnation of the world economy, he said.

“Effectively tapping into the opportunities for growth brought by the RCEP will surely further activate the potential for collaboration in various domains and make businesses in various countries better share the opportunities for development brought by the vast market,” he added.

According to a recent survey conducted by China Daily’s Generation Z Research Center, which polled 500 young people from 40 countries and regions worldwide, 90 percent of the respondents said they perceive the RCEP as “very important” or “fairly important”.

The respondents said they expect the RCEP to benefit international trade cooperation and development, and they believe that the implementation of the RCEP will also benefit young people.

Chi Fulin, president of China Institute for Reform and Development, noted that the total population of those aged 15 to 44 among RCEP member countries was 920 million last year, and the number will rise to 940 million in 2030.

“Amid the severe impact of the pandemic on the global economy and the upsurge of unilateralism and protectionism, joint building of the largest free trade zone in the world requires dedication and a sense of duty among young people in the region as well as efforts to inspire the their dynamism, creativity and influence,” Chi said.

He urged the RCEP to create a more open and inclusive environment for the development of young people, boost young people’s access to the digital economy, unlock the huge potential of the youth human resources and facilitate their entrepreneurship, employment and pursuit for vocational skills.

Chi also called for building more platforms such as advisory boards to help young business leaders engage in economic and trade governance and advancing cultural exchange programs.

By ZHANG YUNBI

PR Newswire

Meeting of Global Alliance of Leaders in Paris

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NUR-SULTAN, Kazakhstan, Dec. 2, 2022 /PRNewswire/ — On November 29, 2022, meeting of Global Alliance of Leaders for Nuclear Security and Nuclear-Weapon-Free World (GAL), which unites political leaders, diplomats, experts, Nobel peace prize laureates, heads of international NGOs from 45 countries, was held at Dialogue of Continents forum in Paris.

Meeting of Global Alliance of Leaders in Paris
Meeting of Global Alliance of Leaders in Paris

The participants discussed challenges over the war in Ukraine during session “How to avoid nuclear war?”.

In her speech, Angela Kane, former UN Deputy Secretary-General, stressed that nuclear escalation became possible scenario in current geopolitical crisis.

“There are currently two risks. First is destruction of Zaporizhzhia nuclear power plant resulting in a nuclear catastrophe. Second scenario is possibility of using nuclear weapons. This conflict upended all progress that remained for past 60 years in arms control field,” – stressed the expert.

In turn, Urban Rusnak, former Secretary-General of Energy Charter, Ambassador, Ministry of Foreign Affairs, Slovak Republic, noted that in light of recent international events, steps taken by Kazakhstan on voluntary denuclearization are of particular value.

“Situation in Ukraine, which, like Kazakhstan, had nuclear potential and went through denuclearization, is of particular concern. Until recently, it was difficult to imagine that nuclear infrastructure facilities could become targets for attacks,” – stressed the speaker.

Ariel Cohen, Senior Fellow, Atlantic Council, Director of Energy and Security Program (ITIC), focused audience’s attention on consequences of incidents involving nuclear reactors in a warzone. 

“If Zaporizhzhia nuclear reactor security is compromised, that will raise catastrophic consequences not just for Ukraine, but for nuclear security in general. International mechanism to ensure security of nuclear power reactors is broken,” – summed up the expert.

Summing up the session, Kairat Abuseitov, a well-known Kazakhstani diplomat, from Nursultan Nazarbayev Foundation, noted that Kazakhstan has a unique example of voluntary denuclearization.

“The country possessed world’s fourth largest nuclear arsenal (in 1991). Kazakshtan had the right to be nuclear-weapon-state. But chose a different path,” – concluded the speaker.

In conclusion, participants agreed that lack of political will to resolve issues of nuclear non-proliferation is fraught with further escalation, and importance of dialogue platforms which could restore lost mutual trust between nuclear states is important as never before.  

GAL meeting was held during an official visit of the President of the Republic of Kazakhstan Kassym-Zhomart Tokayev to France. Kazakhstan, which produces 42% of world’s uranium, actively develop cooperation with France and EU in the field of peaceful atom and nuclear nonproliferation.

PR Newswire

Global Times: China’s leading role highlighted at APEC

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BEIJING, Nov. 19, 2022 /PRNewswire/ — Chinese President Xi Jinping on Thursday delivered a written speech to the Asia-Pacific Economic Cooperation (APEC) CEO Summit held in Bangkok, capital of Thailand, calling for steadfastly advancing the Asia-Pacific regional economic integration and building a Asia-Pacific community of shared future, while rejecting any attempt to wage a cold war in the Asia-Pacific.

In his speech, delivered as he arrived in Bangkok on Thursday afternoon for a visit to Thailand and attendance at the APEC Leaders’ informal meeting on Friday and Saturday, Xi also stressed that as China pursues Chinese modernization, it will remain committed to peace, development and cooperation, and delivering mutual benefit.

Xi’s remarks offered the much-needed encouragement for regional businesses, which are facing great potential for cooperation but are also concerned about rising geopolitical tensions in the region, several local businesses said on Thursday. Many are also hoping for China’s leading role in advancing peace and development in the region.

‘No one’s backyard’

In the closely watched speech, Xi said that while the Asia-Pacific enjoys overall stability and win-win cooperation remains the underlying trend, the Cold War mentality, hegemony, unilateralism and protectionism are mounting, and acts that distort international norms, disrupt economic linkages, inflate conflicts in the region, and impede development cooperation are all too common.

“All these pose a challenge to peace and development in the Asia-Pacific,” Xi said in the written speech, stressing that “The Asia-Pacific is no one’s backyard and should not become an arena for big power contests. No attempt to wage a new cold war will ever be allowed by the people and by our times!”

The Chinese president called on regional economies to strengthen cooperation, support and help each other, and make the Asia-Pacific a leader in boosting global economy. “Unilateralism and protectionism should be rejected by all; any attempt to politicize and weaponize economic and trade relations should also be rejected by all,” Xi said.

Xi’s call for regional cooperation and rejection of Cold War mentality and protectionism offer great encouragement for regional businesses, including those in Thailand, which are becoming increasingly worried about geopolitical tensions and economic disruptions.

At the main venue for the APEC leaders’ informal meeting in Bangkok on Thursday, some business representatives shared with the Global Times their concerns over geopolitical tensions and their hope for China to play a leading role in driving regional economic integration, especially in the post COVID-19 pandemic recovery.

“For every company, it’s very important to reconnect after three years. So this APEC is an opportunity to connect with other economies after every one has closed for a long time. This is a good opportunity and a good time,” Thanawit Chatrittichaikul, assistant manager of the public relations department at Energy Absolute, a major renewable power producer in Thailand, told the Global Times on Thursday, noting that the company is increasingly looking to expand cooperation with China.

In his written speech on Thursday, Xi said that the Chinese economy and the Asia-Pacific economy are interdependent and deeply integrated with one another.

The Chinese president also expounded on China’s pursuit of Chinese modernization on all fronts, a call made at the recently concluded 20th National Congress of the Communist Party of China (CPC), stressing that “we will make greater contribution to world peace and development.

This is the first overseas trip for the Chinese president after the conclusion of the 20th CPC National Congress, which includes attendance at the just concluded G20 leaders’ summit in Bali, Indonesia. This is also the first visit to Thailand by Xi as the Chinese president. This will also be the first time for Xi to attend the APEC leaders’ meeting in person since 2018.  The 2019 meeting was canceled due to the domestic situation in the host country Chile, and the meetings in 2020 and 2021 were held virtually.

China’s leading role

Given the high stakes of this year’s meeting, the high expectations of the Chinese president’s attendance at the APEC leaders’ meeting and China’s role in regional economic cooperation are evident beyond the venues at APEC and on the streets of Bangkok.

Amid high temperatures in the Thai capital on Thursday afternoon, many local residents gathered on a street waving Chinese and Thai national flags to welcome Xi to the country and attend the APEC leaders’ meeting.

“Thai society has already been very much looking forward to this visit. Especially after three years of the COVID-19 pandemic, everyone is expecting President Xi’s visit to promote closer Thailand–China ties in political, economic and other areas,” a Thai citizen of Chinese descent named Ma Yan told the Global Times on Thursday, as she joined others to welcome Xi.

“The economic ties between ASEAN and China far exceed those with other economies. I hope this APEC meeting and President Xi’s visit can become an opportunity to restart exchanges between economies that have been stagnant due to the epidemic in recent years,” said Ma.

China, which is a major trading partner for many Asia-Pacific economies and a very important part of the regional industrial and supply chains, is widely expected to take a greater leading role in regional economic cooperation, as many regional economies are focused on development instead of geopolitical tensions, business leaders and analysts said.

“China is an important member of APEC. Since joining [APEC] 31 years ago, China has always advocated regional openness, and has always been committed to promoting trade and investment liberalization, facilitation, and economic and technological cooperation. It has played an increasingly important role in multilateral cooperation mechanisms such as APEC,” Gao Lingyun, an expert at the Chinese Academy of Social Sciences in Beijing, told the Global Times on Thursday.

However, at the venue of APEC leaders’ meeting, some business representatives made it clear that they do not want to see confrontation. “We are most concerned about tensions in the Taiwan Straits, which impacts not just businesses in the region but also around the world,” one business representative who spoke on condition of anonymity told the Global Times on Thursday.

During a high-profile meeting in Bali on Monday, Xi told Biden that the Taiwan question is at the very core of China’s core interests, the bedrock of the political foundation of China-US relations, and the first red line that must not be crossed in China-US relations.

Chinese Taipei is one of the 21 economies of APEC, as is China’s Hong Kong Special Administrative Region.

In his speech to the APEC CEO summit on Thursday, Xi also warned against bloc confrontation and vowed that China will continue to contribute more to regional and global development.

“History tells us that bloc confrontation cannot solve any problem and that bias will only lead to disaster,” Xi said.

“President Xi’s attendance at the APEC leaders’ informal meeting in person and the focus on economic issues fully reflects China’s solid actions to promote the construction of an Asia-Pacific community with a shared future,” Gao said.

Cision View original content:https://www.prnewswire.com/news-releases/global-times-chinas-leading-role-highlighted-at-apec-301683263.html

PR Newswire

China and its Southeast Asian neighbors need to enhance industrial cooperation

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BEIJING, Oct. 9, 2022 /PRNewswire/ — By Beijing Review: In 2019, TCL, a Chinese consumer electronics company, began to build its new manufacturing base in Viet Nam. The new base has improved TCL’s production capacity with its products selling not only in Viet Nam but also to other markets in Southeast Asia and beyond.

In the first four months of 2022, the total foreign investment in Viet Nam surpassed $10.8 billion, up 88.3 percent year on year, according to its Ministry of Planning and Investment.

The country’s exports in the first quarter hit $88.58 billion, up 12.9 percent year on year, data from the Ministry of Industry and Trade showed.

Viet Nam’s rising status in the global supply chain has sparked discussion of the possibility that it will take away orders from China. In response, Wang Xiaosong, a research fellow at Renmin University of China’s National Academy of Development and Strategy, pointed out that China should adapt to the trend of some enterprises relocating their businesses to Southeast Asia.

“It is a natural process of industrial upgrading for China,” Wang told Beijing Review, adding that the development of near neighbors will facilitate mutual prosperity.

The strategy of relocating labor-intensive jobs to countries with competitive local resources that are much closer to target markets, while maintaining core and critical links in China, is motivating increasing numbers of Chinese manufacturers to take their operations overseas. For example, while TV assembly is the core business of TCL’s Vietnamese base, the company’s factories in China produce high value-added products such as display panels.

“The industrial relocation began in 2015,” Wang said. “Economic development has raised the cost of labor-intensive businesses in China so companies have turned their eyes to Southeast Asian countries with cheaper workforces.”

In addition, emerging markets in the region are also offering preferential policies to attract foreign investors. In Viet Nam, for example, firms making new investments in sectors including technology, footwear and automobiles are taxed at 10 percent for 15 years. This period also includes a tax holiday for the first four years and a 50-percent reduction in the corporate income tax rate for nine subsequent years, according to Bloomberg Tax.

Some companies have transferred due to non-market factors. Hanyu Group is a Chinese company producing drainage pumps. Three years ago, Hanyu’s products were included on the U.S. list of Chinese goods to be subject to added tariffs. Its U.S. clients told the president of company that he needed to take part of his operations overseas, otherwise they would turn to other suppliers. Consequently, he moved part of his assembly line to Thailand.

The COVID-19 flare-ups have also triggered concerns about a possible industrial chain exodus from China.

“Southeast Asian countries are unlikely to replace China as a destination for foreign investment,” Wang said, citing statistics released by Viet Nam’s Ministry of Planning and Investment.

Despite the 88.3-percent rise in foreign investment, Viet Nam’s newly registered capital decreased by 56.3 percent in the first four months of the year. It means few companies established new factories in the country and the increasing foreign investment came from companies already present there.

During the same period, paid-in foreign direct investment into the Chinese mainland expanded 26.1 percent year on year to $74.47 billion, according to the Ministry of Commerce.

China has complete industrial clusters, technological accumulation, and a huge market that cannot be replicated in the short term, he added.

“The growth of Southeast Asian markets is actually a boon for China,” Wang said. “We have close industrial chain connections with our near neighbors.”

Viet Nam, for example, imports upper stream core equipment, raw materials and supporting facilities mainly from China, which will create more opportunities for Chinese suppliers, he explained.

According to the General Administration of Customs of China, trade between China and Viet Nam hit $230.2 billion in 2021, with a year-on-year growth of 19.7 percent. China was Viet Nam’s biggest trading partner.

Wang suggested China to tap the potential of its less developed areas where the labor costs are relatively low and which could be new destinations for industrial shifting.

PR Newswire

GITEX GLOBAL 2022 gathers world’s leaders to challenge and collaborate in the Web 3.0 economy

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DUBAI, UAE, Sept. 30, 2022 /PRNewswire/ — Dubai will transform into the ultimate digital epicentre of the world next month, as the UAE hosts GITEX GLOBAL, the world’s largest tech show, converging the most advanced companies and best minds to deep dive into the making of the Web 3.0 economy.

From 10-14 October 2022 at the Dubai World Trade Centre (DWTC), GITEX GLOBAL presents the most empowering curation ever, with seven multi-tech themes experimenting in the metaverse, a decentralised future of the internet, and a sustainable global digital economy.

The event’s record size and continued expansion mirrors the ambitions of the UAE and region’s digital transformation, as government initiatives such as the National Program for Coders, the Dubai Metaverse Strategy, and Next GenFDI propels the UAE to the forefront of the global digital economy.  

This is amplified by new GITEX GLOBAL 2022 launches of X-VERSE, sponsored by TMRW Foundation in collaboration with Decentraland, one of the world’s most immersive metaverse journeys featuring 28 experiential brands; and Global DevSlam, the Middle East’s largest ever coder and developer meetup.

H.E. Omar Al Olama, Minister of State for AI, Digital Economy & Remote Work Applications, said: “GITEX this year is bigger than ever. It spans two million sq. ft. with over 5,000 exhibitors from more than 90 countries, which makes this truly the biggest tech show in the world. This year, my office has partnered with GITEX to ensure that we’re not just showcasing technology, but actually inventing and developing technology.”

Trixie LohMirmand, EVP of Events Management at DWTC, GITEX GLOBAL’s organiser, added: “GITEX serves a profound purpose of enabling and accelerating the digital economies of UAE and many of its alliance partners through connecting earnest stakeholders with outstanding minds from the world, and materialising these connections into actionable partnerships.”

GITEX GLOBAL 2022 welcomes an unprecedented 52% new exhibitors choosing the show and the UAE as the first choice in their market access strategies. North Star will host the biggest Unicorn meetup of the year in Dubai, with 35 Unicorns from 15 countries looking to expand in one of the world’s fastest-growing markets.

Furthermore, XPENG, a leading tech company and EV manufacturer, has chosen GITEX GLOBAL to host the world’s first public flight of its pioneering eVTOL flying car X2 with the support of official partner, the Dubai Chamber of Commerce.

H.E. Omar Al Olama, Minister of State for AI, Digital Economy & Remote Work Applications, addressing the crowd
H.E. Omar Al Olama, Minister of State for AI, Digital Economy & Remote Work Applications, addressing the crowd
https://mma.prnasia.com/media2/1912027/GITEX_2022.mp4
PR Newswire

Global Metaverse Market Will Unlock $750 Billion Opportunity by 2030

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Interoperability between the virtual worlds is crucial to the success of the metaverse, says Frost & Sullivan

SAN ANTONIO, July 18, 2022 /PRNewswire/ — The metaverse is anticipated to become a platform where people, especially Gen Z, spend time with social communities, consume media, and participate in virtual events and sports. Frost & Sullivan’s recent analysis, Global Metaverse Growth Opportunities, finds that the metaverse will be an interconnected network of virtual worlds that will eventually become an extension of the real-world economy. It will allow organizations to participate in economic activities as they do in the physical world. As companies across consumer segments jump on the metaverse trend to expand their reach, the metaverse will become a nearly $750 billion market opportunity by 2030.

Metaverse ilustration
Metaverse ilustration

For further information on this analysis, please click here

“Big technology companies see huge potential in the metaverse, deeming it the next level of the internet,” said Kiran Kumar, ICT Research Director at Frost & Sullivan. “Gaming, media & entertainment, and retail are the sectors which have witnessed high adoption and promise high growth potential over the next 12 months, based on Frost & Sullivan’s assessment of the application ecosystem.”

Kumar added: “Interoperability is the defining property of the metaverse. The success of the metaverse would rely on the ability to unify systems, platforms, and economies in terms of incentives and benefits tied to the physical world, which remains a critical challenge to be addressed.”

To tap into the endless opportunities of the metaverse, market participants should:

  • Decentralize the metaverse experience and create a more open and interoperable ecosystem than the traditional application ecosystem dominated by a few platforms.
  • Expand the services model beyond traditional capabilities and provide clients with unique revenue models in the metaverse as services will play a crucial role in the metaverse ecosystem.
  • Focus on mitigating the creation of deep fake copies of digital assets and avatars and design virtual worlds with machine learning (ML) to automate user privacy measures in dynamic and diversified contexts within the metaverse.

Global Metaverse Growth Opportunities is the latest addition to Frost & Sullivan’s Information & Communication Technology research and analyses available through the Frost & Sullivan Leadership Council, which helps organizations identify a continuous flow of growth opportunities to succeed in an unpredictable future.

About Frost & Sullivan

For over six decades, Frost & Sullivan has helped build sustainable growth strategies for Fortune 1000 companies, governments, and investors. We apply actionable insights to navigate economic changes, identify disruptive technologies, and formulate new business models to create a stream of innovative growth opportunities that drive future success. Contact us: Start the discussion

Global Metaverse Growth Opportunities
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Contact:
Sol Curet
Corporate Communications
E: sol.curet@frost.com