The UK Government, through the UK Foreign, Commonwealth & Development Office and in collaboration with ASEAN, has launched an online toolkit to encourage cross-ASEAN trade and investment to strengthen regional supply chains for medical technologies. The toolkit showcases the attractiveness of the ASEAN MedTech sector, complemented by interactive tools for MSME use.

ASEAN is among the world’s fastest-growing markets for MedTech, with a projected compound annual growth rate of 9.2% - faster than the global average of 6.8%. There are multiple advantages that make the ASEAN region ideal for MedTech investment: an attractive labour market, availability of raw materials, evolving infrastructural support, integrated supply chain and a growing and dynamic market have made ASEAN the top destination for both ASEAN & international investors, as evidenced by strong growth in foreign direct investments.

This toolkit:

• Consolidates top of mind questions for MedTech MSMEs & global firms to explore pan-ASEAN investment
• Serves as a knowledge base to understand incentives & regulations across MedTech opportunities
• Discovery platform for MSMEs on supplier database and/or navigate suppliers in the region
• Showcases case studies how global MedTech companies have leveraged strengths of each ASEAN country to set up a regional value chain.

Visit www.aseanmedtech.com to find out more.

ASEAN and WIPO launched the ASEAN Intellectual Property (IP) Register at the 55th ASEAN Economic Ministers' Meeting. The Register, powered by a state-of-the-art information exchange system and maintained by WIPO, is a one-stop IP information portal that incorporates up-to-date IP data on patents, trademarks and designs from all ten ASEAN Member States (AMS). It enables all stakeholders from policy-makers to private sectors and innovators to conduct IP searches seamlessly for the ASEAN region.

Access the ASEAN IP Register here.

Source: ASEAN Secretariat

ASEAN Tariff Finder is an online platform designed to support traders to maximise benefits from ASEAN’s free trade agreements. This is a tool to help businesses, especially Micro, Small and Medium Sized Enterprises to get the latest information on the preferential tariffs applied by ASEAN Member States under various multilateral/bilateral free trade agreements. It also sets out the rules of origin criteria used to determine a product’s eligibility for preferential tariff treatment. With this search engine, traders will save time and resources in their transactions, since all tariff information they need is now readily available on the website. 

The e-commerce and digital trade sectors in Cambodia have witnessed remarkable growth in recent years, reflecting the country’s dynamic and resilient economy, thanks to government initiatives to promote digitalization.

Cham Nimul, Minister of Commerce, made the remarks while presiding over the opening ceremony of the workshop on ‘Cambodia’s Digital Economy and Engagement with E-DISC’ (ERIA Digital Innovation and Sustainable Economy Center), on Monday at the Hyatt Regency Phnom Penh.

The workshop was attended by numerous participants from line ministries and stakeholders.

Nimul said that the ministry has implemented policies and programs to foster a conducive environment for digital businesses. “The e-commerce and digital trade sectors in Cambodia are currently experiencing significant growth following the Covid-19 pandemic, highlighting the dynamism and resilience of the country’s economy,” she said.

This sector is driven by innovative entrepreneurs, a young population and an increasing level of digital interconnectedness, she added.

The Commerce Minister further said that the government has introduced the Cambodia Digital Economy and Society Framework 2021-2035 and the Cambodia Digital Government Policy 2022-2035 to utilize digital technology to enhance societal and economic efficiency.

Digital business development is a pillar in building the digital economy and social policy framework of Cambodia 2021-2035, which focuses on supporting the entrepreneurial ecosystem and startups by strengthening entrepreneurship and promoting startups in terms of capacity and financial resources.

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Author: Chea Vanyuth

Source: Khmer Times 

Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah reflected on the significant strides that have been made in building a robust and lasting relationship between ASEAN and Australia, and resulting in positive results, benefiting not only for the two countries but also the broader regional community during a Sunset Santai reception yesterday.

“Australia remains an important trading partner for Brunei and the economic relations have continued to develop over the years. Despite the COVID-19 pandemic, the total trade between Brunei and Australia had doubled, mostly due to the exportation of crude oil, fertiliser and seafood to Australia,” said the minister.

“In 2021, the total trade was BND2.44 billion; BND4.04 billion in 2022 and BND3.17 billion last year with Australian produce, especially dairy and farm products are very popular in Brunei as well as a continued local demand for quality meat products where almost all of the country’s lamb and mutton imports are from Australia hence Brunei continues to welcome Australian investments in its diversification efforts,” he added.

“As we commemorate the 50th anniversary of ASEAN-Australia Dialogue Relations this year, our cooperation has evolved to cover a wide range of sectors across the three ASEAN community pillars.

“As one of ASEAN’s largest trade and investment partners, Australia has played a pivotal role in ASEAN’s economic development and growth as showcased through frameworks such as the ASEAN-Australia-New Zealand Free Trade Area (AANZFTA), Regional Comprehensive Economic Partnership and Comprehensive and Progressive Agreement for Trans-Pacific Partnership,” the minister said.

Source: Borneo Bulletin

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A new port trade zone (PTZ) will drive economic growth through the enhancement of export-oriented industrialisation and the promotion of sector diversification as well as employment growth, said Minister at the Prime Minister’s Office and Minister of Finance and Economy II Dato Seri Setia Dr Awang Haji Mohd Amin Liew bin Abdullah during the ground-breaking ceremony for an expansion project of the Muara Container Terminal yesterday.

The project, to be completed by the second quarter of 2027, includes the development of a PTZ aimed at streamlining trade processes and supporting regional industrial growth.

The expansion is also set to transform Muara Container Terminal into a vital hub for international trade and investment, fostering economic growth and enhancing connectivity between the Sultanate and China. The project not only underscores both nations’ commitment to economic partnership, but it also positions Muara Port as a strategic gateway to regional and global markets.

Spearheaded by Muara Port Company Sdn Bhd (MPC), the project also marks a historical milestone in the Brunei-China relations.

Dato Seri Setia Dr Awang Haji Mohd Amin Liew said, “Over the past few years, Brunei and China have shared a strong bond of friendship and cooperation, which is further strengthened by the establishment of the Brunei-Guangxi Economic Corridor (BGEC) in September 2014, which has been serving as an exemplary gateway for both nations to collaborate and establish synergistic business activities, infusing new momentum into the Belt and Road Initiative and furthering Brunei Vision 2035.” The minister also highlighted the project’s importance. “In 2022, the Brunei-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA) region saw a notable increase in total trade in goods, rising by USD65.8 billion, spanning a vast area of 1.6 million square kilometres and home to a population of 79.8 million. As a key node in BIMP-EAGA, Muara Port plays a crucial role in facilitating trade between the region and western China through the International Land-Sea Trade Corridor,” he said.

He added, “With MPC’s expansion plan and efficient port handling productivity, we will be able to facilitate the expected growth in the import and export of cargo from the development of local and international trade.”

Ultimately, he said, “these efforts will facilitate in transforming Muara Port into a major regional shipping and transshipment hub”. Minister of Primary Resources and Tourism Dato Seri Setia Dr Haji Abdul Manaf bin Haji Metussin, Minister of Development Dato Seri Setia Awang Haji Muhammad Juanda bin Haji Abdul Rashid, Minister of Transport and Infocommunications Pengiran Dato Seri Setia Shamhary bin Pengiran Dato Paduka Haji Mustapha and Deputy Minister of Finance and Economy (Economy) Dato Seri Paduka Haji Khairuddin bin Haji Abdul Hamid were also present.

Source: Borneo Bulletin

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Youth need to remain actively involved in ASEAN affairs. Youth must also focus on their vision for the future and participate in ASEAN’s ongoing work, ASEAN Secretary-General Dr Kao Kim Hourn said.

He said this during his keynote address on ‘Cooperation, Collaboration, and the Youth: The Bedrock of Innovation and Sustainability’ at the Pro-Chancellor Arts Centre, Universiti Brunei Darussalam on Tuesday.

He added, “ASEAN leaders have committed to regular dialogues with youth, with annual meetings involving youth leaders from all 10 ASEAN member countries.”

Dr Kao also highlighted during the 42nd ASEAN Summit in Indonesia in 2023, youth leaders provided recommendations on four key areas. The areas were enhancing the regional ecosystem for youth entrepreneurship, improving digital literacy, accelerating inclusive digital transformation, and leveraging economic opportunities through digital platforms.

He also highlighted the importance of incorporating youth perspectives into ASEAN’s new Vision 2045 and strategic plans for its three pillars: political-security, economic, and socio-cultural. “As we finalise these plans, it is crucial to include the voices of the youth,” he added.

Dr Kao underscored the vital role of youth as future leaders, innovators, and influencers. “The landscape has changed dramatically with technology advances. It is important for our youth as the future leaders and change makers, educators, innovators and influencers.

Source: Borneo Bulletin

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The number of Bruneian travelers visiting Malaysia last year surged by 169 per cent, with a total of 811,833 Brunei tourists recorded, compared to 301,757 in the previous year. This significant increase reflects the growing appeal of Malaysia as a destination for Bruneians, not only for its diverse culture, culinary delights, and natural attractions but also as a popular honeymoon destination.

In a move that is expected to further enhance economic cooperation between the two nations, the Sarawak Trade and Tourism Board (STATOB) will begin operations in Brunei in the fourth quarter of this year, focusing on boosting trade and tourism.

These insights were shared by Chargé d’Affaires at the Malaysian High Commission in Bandar Seri Begawan Mrs Nur Ezira Mahadi, during a dinner commemorating the 40th Anniversary of Diplomatic Relations between Malaysia and Brunei Darussalam. The event, held at the Royal Berkshire Hall, Tarindak D’Polo, Jerudong last Sunday, was hosted by the Malaysian High Commission in conjunction with the working visit of Malaysia’s Foreign Minister to Brunei for the 25th Meeting of the Implementation of the Exchange of Letters between the two countries.

Source: Borneo Bulletin

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Permanent Secretary (Energy) at the Prime Minister’s Office Hajah Farida binti Dato Seri Paduka Haji Talib yesterday called for expanding the participation of contractors in the opportunities available within the power sector through fostering strategic partnerships with the hope of driving the nation’s energy future. 

She said this in her remarks during the launch of the Power Vendor Forum yesterday at the Prime Minister’s Office (PMO).

Emphasising the government’s steadfast commitment to enhance the power sector to be fit for the future, the permanent secretary, who was also the guest of honour, said, “Our effort lies with the Department of Energy’s vision of achieving ‘Energy Security for Brunei Darussalam’s Prosperity’. Our goal is to ensure a sufficient and reliable power supply, while optimising our power systems to meet current and future demands. This vision is critical for our nation’s continued growth and development. By working together, we can create a power sector that not only meets our needs but also drives our economic and social progress.”

In the face of global energy challenges and the urgent need for robust solutions, she said, ”It is imperative that we harness the collective strength of the energy industry. The power sector is not just a cornerstone of our economy; it is the underlying source that powers homes, businesses, and industries. Ensuring its robustness and resilience is a responsibility I believe we all share.”

She added, “We recognise that the key to achieving this lies in developing a dynamic and competitive market where contractors of all sizes can participate and succeed. The forum is a testament to that commitment. It is a platform designed to connect businesses with upcoming opportunities, facilitating access to projects and services that will propel our sector forward.”

The half-day vendor forum, centred on power and renewable energy was organised by the Department of Energy, in collaboration with the Department of Electrical Services (DES). 

The theme, ‘Connecting Businesses with Emerging Opportunities’, has a direct link to the Department of Energy’s vision that aligns with the national strategic agenda under Brunei Vision 2035. 

The overarching intent is to create the foundation for a dynamic and competitive market for power and renewable energy.

The forum aimed to provide local and international contractors the opportunity to meet and form strategic partnerships as well as to widen the range of potential contractors in power projects. 

The forum began with a keynote presentation from Deputy Permanent Secretary (Energy) at the PMO Pengiran Haji Jamra Weira bin Pengiran Haji Petra, which provided an overview of the power sector landscape in the Sultanate. 

It proceeded with panel sessions by DES Acting Director Ahmad Ridza bin Dato Seri Setia Haji Abdul Rahman and Department of Energy Head of the Energy Transition Division Shirley binti Sikun. 

The forum was attended by 61 companies, with over 212 individuals from businesses in the Sultanate, South Korea, Malaysia, Singapore and Thailand. A vendor clinic was also organised by the DES. 

Source: Borneo Bulletin

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