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Laos Reduces VAT to Support Hard-hit Economy

Laos has lowered its value-added tax (VAT) rate as part of the government’s post-Covid-19 economic recovery efforts.

Under new regulations issued in December, the standard VAT rate has been reduced from 10 percent to seven percent, while also providing for more business activities that are exempted from VAT.

Minerals and power-related activities will also now see a new VAT calculation.

The amended VAT Law came into effect on 1 January following a severe economic downturn in Laos that has seen the country experience its slowest growth in 30 years, ASEAN Briefing reports.

Laos is also suffering from one of the highest inflation rates in the region, with the Lao kip depreciating to its lowest value in 15 years.

While Laos has seen 6-8% economic growth for the past decade, the World Bank’s Global Economic Prospects report suggests Laos will see economic growth of 4.5 percent in 2022, however, and could rebound to see 4.8 percent growth in 2023.

Under the amended law, the standard VAT rate for the supply of goods and services, and importing goods, has been reduced from ten percent to seven percent.

Activities exempt from VAT now include electricity imports, exported minerals, export of electricity, and the supply of electricity to electricity enterprises in Laos.


Source: The Laotian Times

Businesses, Government, and Development Partners Support Responsible Business Conduct in Laos

Last Thursday, the Office of the Embassy of Canada, AustCham, The European Chamber of Commerce and Industry, the European Union, and the British Business Group in Laos co-hosted the 3rd Responsible Business Conduct Forum to share their commitment to and best practices in corporate social responsibility (CSR).

Exchanging information on CSR policies, procedures, and action plans supports further the government of Lao PDR in attracting and retaining quality investors.

The RBC Forum, which attracted more than 100 participants online, saw business leaders share their experiences in implementing CSR activities with members of the Lao private sector, government officials, development partners, international organizations, and civil society. Sectors of focus for the full-day event included Mining, Agriculture, Renewable Energy, and Public Policy.

“Businesses can only flourish when the communities and ecosystems in which they operate are healthy. Many companies now undertake environmental sustainability not just as a legal obligation, but as a business opportunity and moral imperative,” said Canada’s Ambassador to Lao PDR, H.E. Sarah Taylor, in opening the Forum. “Our objective is to work with local business communities, civil society organizations, foreign governments and communities as well as other stakeholders to foster and promote responsible business practices and thus support sustainable economic growth and shared value.”

Ina Marčiulionytë, EU Ambassador to Laos added “During a critical period like the COVID-19 pandemic filled with uncertainty, it is important to stay strongly committed to working together in a sustainable way. As Lao PDR prepares itself to reopen for tourism and attract new investments, to support its economic recovery from the pandemic, the issue of an environmentally and socially responsible private sector has become crucial. Indeed, the private sector has a central role to play in what we call the “Build Back Better” agenda following the pandemic.”

The 2022 RBC Forum featured a series of panel discussions that illustrated the benefits of a strong commitment to CSR. Participants heard that practical and cost-effective CSR measures resulted in sustainable consumption and production, enhanced employee benefits, and could be integrated into international mechanisms such as the Global Reporting Initiative. The forum highlighted that responsible businesses should incorporate CSR measures as part of their business strategy, and be informed by close consultation with local populations.[read more]


Source: The Laotian Times

PH benefits from GSP+ scheme; wants FTA with EU

A trade official is pushing for the extension of the European Union’s (EU) trade preferences program while pursuing a possible free trade agreement (FTA) with the bloc for boosting bilateral trade relations.
 
Angelo Salvador Benedictos, director of the DTI-Bureau of International Trade Relations, said they want the renewal of the EU Generalised Scheme of Preferences Plus (GSP+) as “it benefits a lot of industries, a lot of areas in the Philippines, and of course the Philippines.”
 
The current EU GSP+ scheme, which allows for the duty-free entry of 6,274 Philippine products into Europe, will expire by the end of 2023.
 
“So we are benefiting from it, we are making use of it. It is good to us and it is good for Europe. And in the short term, we must be able to renew and extend, and in the long term, please let us think about a better way to trade between Europe and the Philippines and that we could think about the FTA that we have been discussing…,” he said in a webinar.
 
Benedictos said there were already two rounds of Philippines-EU FTA negotiations.
 
According to the BITR-Bilateral Relations Division, the Philippine strategic objectives in engaging the EU in an FTA include securing additional duty-free market access beyond those covered under the GSP+ scheme and on a permanent basis; providing a conducive framework for attracting greater investments from the EU; and being at par with other Asean member states who are aggressively pursuing FTAs with the EU.
 
Kristiyana Kalcheva, policy officer for bilateral relations in trade and sustainable development and the EU GSP in the European Commission’s (EC) directorate-general for trade, said as the current GSP regulation expires on Dec. 31, 2023, the EC made a proposal for a new regulation last September 22, which the European Parliament and the Council are currently discussing.
 
“The aim is to have the new GSP regulation adopted by 2022, with application from 1 January 2024, to ensure predictability and a smooth transition,” she said.
 
Kalcheva said one important aspect is the Commission’s proposal for GSP+ beneficiaries to reapply for the scheme.
 
“This is because there are new conditions such as the conventions and also an element which involves a plan of action for the implementation of conventions so a reapplication is the best way to ensure that beneficiaries abide by the new proposed conditions for entering the GSP+,” she added.
 
Meanwhile, the country is urged anew to increase the utilization of the EU GSP+ utilization.
 
Luc Veron, EU ambassador and head of delegation of the EU delegation to the Philippines, said the country’s utilization rate of EU GSP+ preferences reached 75 percent in 2020.
 
“Over the last two years, while the economic system and international trade faced a lot of challenges due to the pandemic, we have seen the usefulness of GSP+ in sustaining the overall EU-Philippines trade in goods. That is why the EU works closely with its partner, the Philippines, and that is to make sure that the potential trade benefit is maximized. For sure, if we work together, we can increase the utilization rate even closer to 100 percent and increase the overall value of Philippine exports to the EU,” he said.
 
Veron said agriculture goods, including processed foods and fishery products and manufactured goods, highly benefit from GSP+.
 
In a separate interview, Sergio R. Ortiz-Luis Jr., president of the Philippine Exporters Confederation, Inc. (PHILEXPORT) said that at least 500 PHILEXPORT members are actively exporting to the European Union.
 
“The extension of the EU GSP+ and an EU FTA will augur well in developing and growing this supply chain and actual export performance”, he said.  "We just need to address issues such as high shipping cost and raw material availability for more finished products to qualify".

February 23, 2022

Greater support to boost agricultural productivity

An economic policy expert and businesses are pushing for greater support to bolster the productivity of the agricultural sector, a major pillar of the economy that is expected to recover faster from the pandemic.
 
Economist Dr. Bernardo Villegas said food and agribusiness is among the sectors that can experience a “V-shaped” rebound, along with health and wellness, digital industry, and education sector.
 
“More and more we should think of agribusiness not just as farming but as post-harvest, cold storage, supply chain, logistics, processing, and retailing,” he said during a webinar of Center for Strategy, Enterprise and Intelligence (CenSEI) on Philippine economic prospects.
 
Villegas said low agricultural productivity is the country’s “biggest weakness” needing a lot of solutions.
 
To boost agricultural output, Villegas cited as an example Malaysia wherein a large corporation works with thousands of smallholders getting into more productive high value crops like palm oil and rubber.
 
“We can do that for coconut, plus all the products that can be intercropped below the coconut trees –cacao, coffee, high-value products, etc. but that really requires a great deal of organization…,” he added.
 
Philippine Chamber of Commerce and Industry (PCCI) president George Barcelon said there is “need to do” in the agrarian reform law and irrigation, and developing farm-to-market roads.
 
“In the past year and a half, agriculture is one sector that has not really performed well. Manufacturing sector did perform well, the services sector did perform well, but not in the agriculture sector but that is one of our pillars (of growth),” said Barcelon, also Chairman of the Philippine Exporters Confederation, Inc. (PHILEXPORT).
 
He added the government thus needs to focus on the agriculture sector.
 
Meanwhile, Villegas also identified sectors that will take some time to recover from pandemic, or those which will be experiencing an “L-shaped” rebound.
 
He said these include travel and tourism, except domestic tourism; transport and automotive industry; malls and other retailing outlets; dine-in restaurants; public entertainment; and high-end real estate.
 
“Domestic tourism can recover rather fast if we avoid the lockdowns and we continue improving the access to various tourism destinations,” Villegas said.
 
“In real estate, what does not suffer is what we call economic and low-cost housing –units that range from P1 million to about P6 million… that price range has not actually been hit by the pandemic and that actually is an area where you still have a large shortage of units,” he added.

February 23, 2022

FDA extends grace period for complying with hazardous substances registration rules

Household/urban hazardous substances (HUHS) establishments have been given a two-year extension, or until December 31, 2023, to comply with the new product registration requirements of the Food and Drug Administration (FDA).

The two-year transitory period extension covers only product registration and does not apply to licensing requirements, FDA emphasized.

Thus, effective January 1, 2022, a License to Operate (LTO) becomes mandatory for all establishments engaged or intending to engage in HUHS-related activities.

FDA Circular No. 2021-011-A, issued last January 21, extends for two years the transitory period for HUHS establishments to comply with the new registration policy.

The order comes after appeals from the HUHS sector for a longer compliance period to secure marketing authorization for their products as well as in view of the ongoing pandemic-related challenges the country faces.

Earlier, FDA Circular No. 2020-025 had reinstated the requirements of licensing and registration for importers, exporters, manufacturers, toll manufacturers, wholesalers, distributors, retailers, or re-packers of those engaged in certain HUHS substances.

The circular was supposed to take effect last January 1 after the grace period for compliance ended in December.

But FDA through Circular 2021-011-A now establishes a two-year transitory period for securing a Certificate of Product Registration (CPR) for HUHS products as well as provides an interim guideline for product registration and product labeling during this time.

The issuance applies to HUHS products under Categories III and IV and to establishments engaged or intending to engage in their manufacture, importation, exportation, distribution, sale, offer for sale, transfer, promotion, advertising and/or sponsorship.

Moreover, the covered products are those intended for consumer or institutional use only and do not include products for industrial use.

Category III covers cleaners, fresheners and deodorizers, dishwashing and laundry detergents/soaps, disinfectants, fabric conditioners/softeners and ironing aids, fresheners and aromatic diffusers, moisture-absorbing agents, polishes, and pool chemicals.

Covered under Category IV are adhesives, glues and sealants; automotive, furniture and jewelry care and restoring products; button batteries; coloring materials; fabric dyes and tattoo dyes; paints, varnishes and thinners; paint stripper; and rut remover/degreasers.

Circular 2021-011-A states: “The 2-year transitory period extension shall apply to the registration of HUHS products. Hence, from 01 January 2022 to 31 December 2023, HUHS establishments may continue to distribute their HUHS products without a CPR from the FDA. However, effective 01 January 2024, a CPR shall be mandatory for all HUHS products distributed in the market.” 

But the extension does not cover licensing requirements.

“The 2-year transitory period extension shall not apply to the licensing of HUHS establishments. Hence, effective 01 January 2022, [an] LTO as HUHS establishment shall be mandatory for all establishments engaged or intending to engage in HUHS- related activities,” the FDA explained.

The agency added that during the grace period, HUHS establishments should also deplete their remaining stocks of HUHS products with labels not compliant with the labeling requirements set forth in Annex J of Circular 2020-025, including with the Globally Harmonized System (GHS) of classifying and labeling chemical requirements.

Circular 2021-011-A also provides the rules covering other authorizations, including customs clearances, sales and promo permits, and Certificate of Free Sale, during the transitory period.

Companies are not mandated to secure sales and promo permits for covered HUHS products, and are also not required to obtain customs clearances as these need the issuance of a valid CPR.

For advertising and sales promotion activities and customs-related concerns, copies of this circular and valid LTO may be presented to the government and non-government entities instead of a valid FDA-issued CPR.

FDA Circular 2020-025 does not cover the following for its reinstated licensing and
registration requirements:

•    Establishments engaged in raw materials used in the production of HUHS
products
•    Retailers of HUHS products
•    HUHS products which are donated, imported for personal use, intended for
exhibits, intended for exclusive use in agricultural setting; intended for other health-related/medical-related use, and intended for research and development and laboratory analysis

FDA Circular 2020-025 provides the implementing guidelines for Administrative Order No. 2019-0019, which reinstates the requirements of licensing for the HUHS sector.

Specifically, this circular establishes the guidelines for the licensing and inspection of HUHS establishments; establishes the guidelines for registration and other relevant authorizations for HUHS products; and updates the categorization of HUHS products. It also seeks to institutionalize the GHS as the new hazard category for labeling of
HUHS products.

It likewise sets out to ensure compliance by HUHS establishments to FDA regulatory standards, such as Good Manufacturing Practice, Good Distribution Practice, Good Storage Practice, and Good Labeling Practice.

February 23, 2022

Textile industry urged to prioritize upskilling of workers, machinery upgrades

Garments and textile industry players are advised to strengthen the skills of their workforce and upgrade their machinery to reduce costs, as they carve out their own market niche to respond to competition.

During the recent 2022 Tela Conference, Marikina Rep. Stella Quimbo said the government also needs to help address other sources of low productivity in the industry, particularly in terms of lowering power and shipping costs.

Quimbo said the overall competitiveness of the textile industry has been declining over the last two decades amid shrinking labor productivity that may have led to higher prices of Philippine textiles compared to that in other Southeast Asian countries.

She cited an earlier study of the Philippine Institute for Development Studies (PIDS) indicating reasons for the declining competitiveness of the industry, including low worker productivity, low design capabilities, high costs of power and shipping, and low financial capital to invest in merchandising and technology required for value-added services, among others.

Based on this study result, Quimbo urged firms to achieve “economies of scale” by ramping up business operations to reduce unit costs.

“What factories need to do to scale up for more efficient production would include for example investing in machines, again having larger factories or having an assembly line approach to the extent possible,” she said, adding others can have a small semblance of an assembly line only for improving efficiency.

She further cited a 2019 study of the International Labour Organization (ILO) indicating reasons for declining labor productivity in the garments and textile industries in Asian countries, including the Philippines, include lack of adequate operator and management skills, and poor production planning, among others.

Quimbo said there are interventions that can be implemented at the factory level, including upskilling of workers and upgrading of machinery.

She said the Department of Science and Technology-Philippine Textile Research Institute (DOST-PTRI) has already done a lot of research and development (R&D) for the local textile industry sector.

“My humble suggestion is I hope we should not waste that gain. I think we can leverage whatever R&D efforts the DOST has engaged in. We leverage on that so that we can obviously address the other sources of inefficiencies in the industry,” she added.

Quimbo said the Technical Education and Skills Development Authority (TESDA) provides skills training, while the Department of Trade and Industry’s (DTI) financing arm, the Small Business Corporation (SBCorp), is making available credit loans for textile factories.

“In addition, we really need a whole-of-government approach to help the textile industry. There are many concerns or many sources of low productivity levels that are really cross-cutting, meaning it is really beyond the textile industry,” she said, citing as an example the high shipping costs which are the main complaint of many exporters.

To become competitive, Quimbo called on garments and textile companies to find specific market niches and develop a comparative advantage.

“I think design is possibly a comparative advantage at least for local footwear,” she said. “The global market is so huge and if we take advantage of that, we are able to have economies of scale locally.”

Quimbo said the government can also step in terms of consolidating orders of small businesses to meet high volume of orders.

February 23, 2022

RCEP generate trade opportunities for investors in Cambodia

The Regional Comprehensive Economic Partnership (RCEP) builds on the existing free trade agreements created by the ASEAN partnership, further developing economic integration and shaping future trade policies.

The RCEP agreement – that came into force on January 1, 2022 – is designed to reduce trade barriers and improve market access for goods in constituent nations. This partnership, in addition to Cambodia’s existing bilateral FTAs with China and South Korea, are key factors when attracting investment to Cambodia.

Vongsey Vissoth, Secretary of State for the Ministry of Economy and Finance, supported this notion at the Macroeconomic Management for 2022 conference. “The Regional Comprehensive Economic Partnership (RCEP) free trade pact and bilateral free trade agreements (FTAs) are one of the key factors attracting foreign direct investments to Cambodia in the post-Covid-19 era,” he said.

The RCEP FTA is the world‘s largest trading bloc with 15 countries, including all ASEAN members, Australia, China, Japan, South Korea, and New Zealand and are key to promoting economic growth in the long run.

Cambodia’s economy is mainly supported by garment, footwear, tourism, real estate, construction and agriculture will all enjoy positive growth this year.

“Cambodia’s national economy is forecast to grow by 5.6 percent in 2022, up from 3 percent in 2021”, adding that “the growth is expected at a higher rate of 6.5 percent in 2023 and up to 7 percent in 2024.”

This growth will support the government’s plan to provide a stimulus package of more than $1 billion for these sectors in 2022, to boost the economy and mitigate the impacts caused by the pandemic.

For full article, please read here


Author: Sok Sithika

Source: Khmer Times 

ASEAN Business Awards Laos & Skill Development 2021

The Lao National Chamber of Commerce and Industry (LNCCI) on Friday presented Asean Business Awards Laos 2021 (ABA Laos) to the winners of the 2021 competition, representing many successful enterprises from a variety of sectors across Laos.

The awards are supported by the Regional Economic Integration of Laos into Asean, Trade and Entrepreneurship Development (RELATED) project run by the German Development Cooperation (GIZ).

Speaking at the ABA Laos Gala Dinner, Executive Vice President of the Lao National Chamber of Commerce and Industry and member of the ASEAN Business Advisory Council, Mr Thanongsinh Kanlagna, said the primary purpose of the ABA Laos is to recognize outstanding enterprises that are innovative and responsive to market needs. The guest of honor at the event and presented the awards to the winners was Deputy Prime Minister, H.E. Prof. Ph.D  Kikeo Khaykhamphithoune. The ceremony was also attended by the German Ambassador to Lao, Ms Annette Knobloch.

Present at the awards ceremony were four Lao winners of the Asean Business Award 2021 named in Brunei, namely the Asean Contract Centre Co., Ltd, Dao Heuang Group Co., Ltd, Ock Pop Tok,and the Angsana Maison Souvannaphoum Hotel. An esteemed panel of judges representing Lao academia and the public and private sectors with the diligent support of our member,  KPMG ensured transparency, fairness and professionalism in the selection process.

The awards are given in four main categories: Lao Priority Integration Sector,SME Excellence, Special Award, and Skill Development.
The five winners of the Lao Priority Integration Sector Excellence Awards were the Generation Public Company (energy), Pheuksa Garden (tourism), Houng Ah Loun Logistics Sole Co., Ltd. (transportation and logistics), Pakxong Development Export-Import Sole Co., Ltd. (agriculture) and Lion Brand Roof Tiles Factory (wholesale/retail).

The winners of the five SME Excellence Awards were Khammany General Service Co., Ltd. for the SME Growth Award, Vientiane Geomatic Services Sole Co., Ltd. were awarded the SME Digitalisation Transformation Award, Star Fintech Sole Co.,Ltd. received the SME Innovation Award, Phathana Tad Ngeuang Waterfall took the SME Employment Award, and the Angsana Maison Souvannaphoum Hotel got the SME Corporate Social ResponsibilityAward. Our silver sponsor, Phongsavanh Insurance (APA) Co., Ltd also received the special award named Start-up Award.

Source: Asean Business Award

PM: Malaysia to develop National Robotics Roadmap

KUALA LUMPUR (Feb 17): Malaysia will develop the National Robotics Roadmap (NRR) in an effort to lift robotics technology into mainstream usage to boost national productivity, said Prime Minister Datuk Seri Ismail Sabri Yaakob.

 

He said the roadmap could help to reduce dependence on foreign manpower and minimise the outflow of foreign exchange.

 

Under the plan, the government is targeting to increase the intensity of robot usage from 55 units per 10,000 workers in 2019 to 195 units per 10,000 workers by 2030, he said in a statement here on Thursday (Feb 17).

 

Ismail Sabri said the proposed roadmap was among the decisions reached at a meeting of the National Digital Economy and Fourth Industrial Revolution Council, which was its first for this year.

 

The meeting, attended virtually by the relevant ministers and heads of departments and agencies, also endorsed the Catalytic Projects concept to drive the MyDIGITAL Aspiration.

 

Towards this end, the prime minister said, the meeting agreed to set up the MyDIGITAL Catalytic Projects Task Force to select suitable projects and monitor their implementation via the public-private partnership model.

 

He said the Catalytic Projects would be financed by the private sector and the government would play the role of a facilitator.

 

He said the projects to be implemented under this concept include smart medicine targeting the setting up of hospitals using 5G technology and Smart City.

 

Ismail Sabri said the meeting was also briefed on the progress of the National Digital Network Plan (JENDELA), where from September 2020 to December 2021 a total of 1.89 million new premises came under fibre optics coverage and 1,189 new 4G towers were built.

 

During the same period, 95% of populated areas were given 4G coverage, he said.

 

The prime minister said the meeting was also told that Digital Nasional Berhad (DNB) had initiated access to the 5G wholesale network, with 500 5G sites having been activated as at Dec 31, 2021 in Putrajaya, Cyberjaya and Kuala Lumpur.

 

“DNB is also targeting 3,500 sites, the equivalent of 36% coverage in populated areas, by the end of 2022,” he added.

 

Through the Digital Empowerment of Small Entrepreneurs (PUPUK) programme, he said, 883 Keluarga Malaysia Digital Economic Centres (PEDi) are already in operation, while 28 more will begin operating by March 31 throughout the country.

 

Ismail Sabri said in conjunction with the first anniversary of the launch of Malaysia Digital Economy Action Framework (RTEDM) and introduction of MyDIGITAL, several programmes have been and would be launched throughout February and March.

 

They include Technopreneur Industry Dialogue, several series of dialogues organised by World Bank and MyDIGITAL Corporation, Pasar Siti Khadijah Digital Transformation Programme in Kota Bharu, Kelantan; a roundtable discussion on Islamic Digital Technology and Civil Servant Digital-Savvy Programme.

 

“The outcomes of MyDIGITAL will determine the success of the digitalisation of Keluarga Malaysia as hoped for by 2030,” he said.

Source: The Edge Markets

Digital Nasional Berhad, MRANTI and Ericsson collaborate to develop an on-campus 5G Development Centre

Ericsson advised that the collaboration sees the deployment of 5G coverage and capabilities at MRANTI Park – the creation of MRANTI’s on-campus “5G development centre” with support from DNB – as well as comprehensive knowledge sharing and education efforts for enterprises and the community in MRANTI’s innovation clusters.

MRANTI Park (and the broader Bukit Jalil area) is among the first few areas in Kuala Lumpur to receive 5G coverage.

A tripartite Memorandum of Understanding (MoU) was signed in Kuala Lumpur by DNB chief corporate affairs officer Zuraida Jamaluddin, MRANTI chief executive officer Dzuleira Abu Bakar, and Ericsson head of Malaysia Sri Lanka & Bangladesh David Hägerbro https://www.linkedin.com/in/hagerbro/ (pictured).

The MoU will see Ericsson leveraging its experience and technology to provide input for the development of use cases to increase the uptake of 5G, as well as to support local start-ups and technopreneurs on 5G development and readiness. Ericsson will also be participating in a 5G knowledge building program through activities such as presentations and seminars, the company advised.

“To deliver the full value of 5G to Malaysia, we need to bring together partners to collaborate, innovate and incubate ideas to nurture a thriving ecosystem. This collaboration involving DNB, MRANTI and Ericsson will be a catalyst to launch Malaysia into the digital economy through the development of local skills and transfer of knowledge, where we will be contributing our industry leading expertise,” said David Hägerbro.

DNB will be working closely with MRANTI and Ericsson in the 5G infrastructure planning and execution, and in facilitating knowledge sharing sessions on 5G technology and related capabilities. This partnership is a testament of DNB’s support of MRANTI’s aspiration to have an on-campus 5G development centre for their innovation clusters, and for the creation of their 5G use cases and experiences, Ericsson said.

“Given MRANTI’s position as the national research commercialisation agency and key technology enabler, we are delighted to explore and enable the exciting possibilities that 5G has to offer. This empowers communities in MRANTI Park to avail themselves of 5G technology and capabilities, eventually building it into future products and services,” said Zuraida Jamaluddin.

Ericsson advised that MRANTI will offer 5G technology capabilities across its facilities, promote its awareness and use, including facilitating its application in key development clusters, and other developmental and partnership programmes including the National Technology and Innovation Sandbox (NTIS), of which MRANTI is the lead secretariat.

Additionally, MRANTI will host Area 57, a centre of excellence for dronetech, and the first Artificial Intelligence Park in Malaysia with various facilities such as the aforementioned 5G development centre, Sustainable Urban Farming Incubation Facility, Biotechnology Incubation Hub and Autonomous Vehicle & Robotics Hub.

All these services and facilities are interlinked and go hand-in-hand with the development of 5G technology.

“We continue to equip innovators, researchers and businesses at MRANTI Park with the latest infrastructure and expert capabilities for advanced technology development, with a view to driving returns on innovation across the ecosystem. The collaboration also serves to accelerate our position as the leading 4IR (Fourth Industrial Revolution) hub - in which we have the latest facilities and resources to support industry growth – including for dronetech, autonomous vehicles, agritech and more,” said Dzuleira Abu Bakar.

Further, MRANTI Park will be reinvented to make promising research and development and early technology products economically viable. In order to achieve this, MRANTI will need a strong foundation consisting of 5G infrastructure and data driven services to strengthen its tech ecosystem and develop promising use cases to be accelerated for commercialisation, Ericsson stated.

“My immediate focus is the rejuvenation and revitalisation of the park into a hub that accelerates the commercialisation of innovation and technology,” Dzuleira concluded.

Source: iTWire

“Hybrid Seminar on Innovative Products Practices for Food Processing in Myanmar”

According to the ASEAN-Hong Kong Free Trade Agreement Fund , Ministry of Industry, Directorate of Industrial Supervision and Inspection held the third phase of Innovative Products Practices for Food Processing in Myanmar, “Hybrid Seminar on Innovative Products Practices for Food Processing in Myanmar” at M Gallery Hotel, Nay Pyi Taw, Myanmar on 27th – 28th January 2022 with the aim of sharing good practices of innovation to food processing industry in Myanmar and  the development of food processing industry in ASEAN-Hong Kong region.

The Representatives from ASEAN and Hong Kong joined the seminar virtually and MSMEs from Region, State, Naypyidaw Union Territory and Officials from the SME Development Department, Industrial Supervision and Inspection Department also attended physically. At the opening ceremony of the Hybrid Seminar on Innovative Products Practices for Food Processing in Myanmar, Dr. Wah Wah Maung, Permanent Secretary of Ministry of Investment and Foreign Economic Relations, Myanmar SEOM Lead and Ms. Sri D Kusumarwardhani , the Representative of ASEAN Secretariat delivered the opening remarks respectively.

At the seminar, the experts shared the experiences mentored to the selected MSMEs of the 1st phase of the project, Local and International Panelists discussed in Panel Session with the title of “Innovative Products Practices for Food Processing”, the selected MSMEs made the presentation about the differences of business situations before and after mentoring, and MSMEs from ASEAN Members States (AMS) on Hong Kong also shared experiences of Innovation and best practices.

By implementing the project of “Innovative Products Practices for Food Processing in Myanmar”, Micro, Small and Medium Enterprises-MSMEs in AMS and Hong Kong have many advantages. They are strengthening knowledge and capacities of innovation, and enhancing the understanding of best innovative practices which are being used in other countries, increasing the quality of  products in line with International Standards and utilizing strategies based on the innovation knowledge of food industries, creating business linkages among international participants and market opportunities in AMS and Hong Kong.

Cambodia: Singapore eyes local cold-storage scene

Singapore intends to invest in cold storage in Cambodia as the agricultural sector faces a dire need to safely and adequately store quality products to boost exports.

The intent was expressed by a delegation of Singaporean investors led by foreign minister Vivian Balakrishnan at a meeting with Cambodian Prime Minister Hun Sen on February 16.

The delegation also sought to explore investment options available in the Cambodian transport sector, and to further expand bilateral cooperation between the two countries.

Minister of Agriculture, Forestry and Fisheries Veng Sakhon told The Post that Singapore’s interest in investing in cold product storage is something his ministry has always desired, to facilitate the process of freezing fish and meat, and hence reduce health risks.

He said private businesses must have their own cold storage and packaging facilities that are up to standards in order to export processed fish products, but added that high electricity prices were a major deterrent.

“A private company called Mekong Express previously invested in the construction of such a cold storage facility that would have been kept at a temperature of minus 30 degrees Celsius – out in the Chaom Chao area of Phnom Penh – where it also had a warehouse to store agricultural products to export to Japan in the future.

“But then that plan was derailed by irregular electricity, and [the facility] was later turned into another warehouse,” Sakhon said.

Cold storage will be vital in maintaining the safety and quality of agricultural products for export, especially fish and meat, he said, stressing that Cambodia has the capacity to supply meat to ship abroad.

For full article, please read here


Author: Hom Phanet 

Source: The Phnom Penh Post 

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