CACCI Profile Confederation of Asia-Pacific Chambers of Commerce and Industry

Vol. XLII, No. 11 November 2019 CACCI President Emeritus Mr. K. K. Modi Passes Away

its objective of promoting cooperation among businessmen in the region. He was later conferred the title of CACCI President Emeritus for his continued active participation in the activities of the Confederation as member of the CACCI Advisory Board. In November 2016 during the 50th Anniversary of CACCI, Mr. K. K. Modi was presented the Illustrious Service Award in recognition of his valuable contribution in promoting the growth and development of the Confederation. Mr. K. K. Modi was Chairman of Modi Enterprises, a Group of Companies with international partners and engaged in various sectors including cigarettes, tea & beverages, It is with profound sadness that we inform all CACCI entertainment, consumer products, network marketing, chemicals, officers and members of the passing away of Mr. Krishan Kumar tertiary education and Gourmet restaurants. He made significant Modi, President Emeritus of the Confederation of Asia-Pacific contribution to Indian industry and held numerous positions in Chambers of Commerce and Industry (CACCI). Mr. K. K. Modi the industry, trade, education, sport and charitable organizations died last Saturday night, 2 November 2019 in New Delhi, India. Mr. K. K. Modi’s demise is therefore a great loss to He was 79. the Indian business community, to CACCI, and to the region’s Mr. K. K. Modi – father of the incumbent CACCI President chamber movement as a whole, leaving a void that is difficult to Mr. Samir Modi - served as CACCI President from 2002 to fill. 2004, and from 2004 to 2006, the first one to hold the position for CACCI would like to invite all members to join Mr. K. two consecutive terms. During his presidency, M. K. K. Modi K. Modi’s family in prayer at this time of great sorrow. provided valuable guidance in steering the Confederation towards

In this Issue:

• CACCI President and FBCCI President Invite • CACCI Vice President Peter McMullin Delegates to the 33rd CACCI Conference in Sets Up Good Business Foundation ...... 8 Dhaka ...... 2 • University of Melbourne Receives $4m Gift • CACCI President Samir Modi leads from Philanthropists Peter and Ruth McMullin visit to the ...... 2 to Build Science Gallery Melbourne ...... 8 • CIPE Conducts Two Sessions at the 33rd • Former CACCI President Amb. Yujucio CACCI Conference in Bangladesh ...... 5 Presented Global Excellence Award ...... 9 • MNCCI Project Proposal Receives • Product and Service Councils ...... 10 CACCI Foundation Grant ...... 6 • Investment & Joint Ventures in the Region .. 11 • CACCI Invited to ASEAN Business and • Economic Cooperation News ...... 12 Investment Summit ...... 6 • Fairs & Exhibits in Asia-Pacific ...... 14 • CACCI Invited as Panelist in ICDF • Technology ...... 14 Agribusiness Forum Taipei ...... 7 • Policy Updates ...... 16 • 2020 Smart City Summit and Expo in Taiwan 7

1 CACCI President and FBCCI President Invite Delegates to the 33rd CACCI Conference in Dhaka

CACCI President Mr. Samir Modi It will help facilitate dialogue among and FBCCI President Mr. Sheikh F Fahim the business communities of the Asia are extending their invitation to all CACCI Pacific countries which will help officers, members, associates and friends promote trade and investment in the to join them in Dhaka, Bangladesh for the region. 33rd CACCI Conference scheduled to take For online registration place on November 26-27, 2019 at the Pan and hotel booking, please visit the Pacific Sonargaon Hotel. Conference website at http://fbcci. In his invitation message to members, org/2019cacci Mr. Modi says he is pleased that the FBCCI has agreed to host the On behalf of CACCI President Mr. Modi and FBCCI first-ever CACCI Conference to be held in Bangladesh, which is President Mr. Fahim, CACCI looks forward to welcoming you to considered as one of the fastest growing economies globally and Dhaka, Bangladesh. classified among the Next Eleven emerging market middle income economies. Participation in the two-day event will give members the opportunity not only to obtain first-hand information on the trade and investment opportunities Bangladesh has to offer, but also to network with the local business community and relevant government agencies. For his part, Mr. Fahim welcomes members to join the Conference and have the pleasure of experiencing the scenic landscapes of Bangladesh as well as the story of its development. “I firmly believe that the Conference will project Bangladesh’s success story and showcase the country’s investment opportunities.

CACCI President Samir Modi leads visit to the Philippines

CACCI President Mr. Samir Modi led an 11-member Luncheon Meeting Hosted by PCCI delegation to the Philippines for a three-day Presidential visit from October 15-17, 2019. The delegation was composed of chamber representatives from five CACCI member chambers – one from Australia, two from Hong Kong, three from India, one from Nepal, one from Taiwan – as well as three officers of the CACCI Secretariat. Hosted and organized by the Philippine Chamber of Commerce and Industry (PCCI), the three-day program included: (a) a luncheon meeting hosted by the officers of the PCCI; (b) participation in the National Chamber Management Forum organized by PCII; (c) a visit to the Philippine Stock Exchange; (d) a meeting with key officers of the Department of Trade and The CACCI delegation’s first program was to attend a Industry of the Republic of the Philippines; and (e) participation luncheon meeting hosted by the PCCI at the Hotel. in the 45th Philippine Business Conference and Expo, the biggest The visitors were warmly received by key PCCI officers led by annual gathering of chamber officers organized by the PCCI. PCCI President Mrs. Alegria Limjoco, Chairman Emeritus and The Philippine trip was the third Presidential visit that Mr. Modi Director for International Affairs Dr. Francis Chua, and Honorary undertook since he was elected as CACCI President in November Chairman Amb. Benedicto Yujuico (who is also former CACCI 2018. He made his first Presidential visit to Wellington, New President). Serving as Moderator for the luncheon meeting was Zealand on May 7-8, 2019 where he was hosted by the Wellington Mr. Renato Simbulan. Director, Chamber and Industry association Chamber of Commerce, followed by a visit to Tokyo, Japan on Development and Chairman, International Affairs, PCCI. July 22 – 23, 2019 with the Japan Chamber of Commerce and In response, Mr. Modi thanked Mrs. Limjoco and the Industry as the host organization. other PCCI officers and members for receiving the CACCI delegation and for the Chamber’s continued strong support of

2 CACCI President Samir Modi leads visit to the Philippines

CACCI and its activities since it was established in 1966. Mr. slowdown as it offers tremendous opportunities for trade and Modi mentioned that the PCCI has always played an active investment and creating global value chains for manufacturing role in the Confederation, noting that since 1966 when CACCI and that globally, the Asia Pacific region remains the most was established, the Chamber – which was one of the founding important destination and source of FDI. members – has hosted a total of 8 CACCI Council Meetings and Mr. Modi noted that the Philippines itself is currently Conferences, and that five of its former key officers had served as one of Asia’s fastest growing economies, currently ranking as the President of CACCI. world’s 34th largest economy. He said that according to the 2017 Mr. Modi expressed his hopes that the PCCI would estimate of the IMF statistics, it is the 13th largest economy in remain actively involved in the Confederation, given the Asia, the 3rd largest economy in the ASEAN after Indonesia and important role that the country’s economy and business sector Thailand, and is the sixth richest in Southeast Asia by GDP per play in the development of the Asia-Pacific region. He also capita value. The county has been named as one of the Tiger Cub took the opportunity to invite the PCCI officers and members to Economies and is projected to be the 5th largest in Asia and 16th the 33rd CACCI Conference to be hosted by the Federation of biggest in the world by 2050. PricewaterhouseCoopers estimates Bangladesh Chambers of Commerce and Industry (FBCCI) on that it will be the 12th to 14th richest economy in the world by November 26-27, 2019 in Dhaka, Bangladesh. 2060, he added. Hence, economic prospects for the Philippines, like the rest of the Asian region, are indeed very bright. Participation in the National Chamber Management Forum During the panel discussion, CACCI Vice President Mr. Pradeep Kumar Shrestha from Nepal highlighted the need for businessmen to find time to travel to other countries and take the opportunity to meet and network with business leaders in those countries, as face-to-face meetings help create trust and friendship, which serve as the strong foundation for business cooperation. For his part, CACCI Vice President Mr. Peter McMullin from Australia underscored the importance for businessmen to effectively communicate to the public and the communities that they serve the basic reason why they are in business and what they intend to achieve for their businesses and for the markets they cater to. Following the luncheon meeting, the CACCI delegation proceeded to the National Chamber Management Forum Participation in the 45th Philippine Business Conference and organized by the PCCI at the room adjacent to the luncheon Expo meeting venue. The attendees included some 300 leaders and The CACCI delegates – all of whom were designated key officers of member chambers of PCCI from around the as VIP Guests - participated in the Opening Ceremony of the Philippines. 45th Philippine Business Conference & Expo (45th PBC&E) on The first session focused on the topic “The Role of October 16. Chambers in Promoting International Trade and Investments” and featured Mr. Modi as the keynote speaker, and CACCI Vice Presidents Mr. Peter McMullin from Australia and CACCI Vice President Mr. Pradeep Kumar Shrestha from Nepal as members of the panel discussants.

The CACCI visitors had the opportunity to listen to the speech of Philippine Vice President Leni Robredo at the Opening Ceremony. The Vice President delivered a keynote speech about economic inclusivity, stressing the importance of technology to address problems such as poverty and urged businessmen to use emerging technology in their companies to bolster inclusive In his speech, Mr. Modi noted that the Asia-Pacific progress in the country, adding that technology has real potential region serves as one of the most promising regions in the current to improve the lives of the people, especially the poor. An times consisting of some of the world’s most vibrant economies, advocate of the poor, Vice President Robredo noted how critical adding that the world is eyeing this region in the times of global for both the government and private sector to harness innovations

3 to uplift the lives of Filipinos from poverty. “As we continue to City where they were warmly welcomed by President and CEO aim to be one of the fastest growing economies in the world, we Mr. Ramon S. Monzon, Chief Operating Officer Atty. Roel have to make sure that everyone gets a fair share of the economic A. Refran, and Director Mr. Edgardo G. Lacson (who is also pie. Now more than ever, we should be able to exhaust all the Honorary Chairman of PCCI). tools in our hands to create sustainable, inclusive progress,” she said. Following the Vice President’s speech, the CACCI delegates led by President Modi and Vice President McMullin had the opportunity to greet Mrs. Robredo up close and briefly introduced themselves and the Confederation. Mr. Modi was allocated a 30-minute Special Session during the second day of the 45th PBC&E, which was attended by some 900 delegates composed of chamber leaders from around the country. The CACCI President used this session to introduce CACCI and its activities. Mr. Modi took the opportunity to introduce CACCI and Mr. Modi informed the big audience that since its its activities to the PSE officers, highlighting the important role establishment in 1966, CACCI has grown into a network of played by PCCI in the Confederation, and the role of CACCI 29 national chambers from 27 Asian countries – including the as an effective platform for bringing together the business PCCI which is one of the founding members. He stressed that the communities of the various Asia Pacific countries to explore combined 3 billion population of the CACCI member countries business opportunities and address issues of common concern to represents some 40% of the world total, adding that these businessmen and entrepreneurs in the region. constituencies, when effectively mobilized, can give substance to the chambers’ common commitment to economic development. Mr. Modi concluded by reiterating his invitation for the officers and members of PCCI to attend the 33rd CACCI Conference to be held on November 26-27, 2019 in Dhaka, Bangladesh.

The two sides also exchanged ideas and information on commercial arbitration and mediation practices in individual Asian countries and across borders, on stock market conditions in the Philippines, India, Australia and other Asian countries, and on business opportunities across the region. Mr. Modi also shared information on his businesses and how his association After his presentation, Mr. Modi invited CACCI Vice with CACCI has helped him in building up these businesses. President Mr. Peter McMullin from Australia to say a few words on his experience in CACCI. In his brief remarks, Mr. McMullin Meeting at the Department of Trade and Industry expressed his support of the statements made by Philippine Vice President Leni Robredo on the importance of achieving economic inclusivity, and the need to harness the power of emerging technology to promote innovations as a means of uplifting the lives of the populace from poverty. The other topics covered by various speakers during the rest of the second day of the 45th PBC & E included the following: (a) Leveraging New Technologies, Creating a Competitive Edge; (b) The Belt and Road Initiative: Opportunities and Challenges in the Age of Connectivity; (c) Strengthening bilateral Trade and Investments (featuring presentations on Philippine-China, From the PSE, the CACCI delegation proceeded to Philippine-Japan, and Philippine-US Trade and Investment the Department of Trade and Industry (DTI) and the Board of Relations. The Closing Ceremony of the Conference featured Investments (BOI) where they were received by Undersecretary Philippine President Rodrigo Duterte as Keynote Speaker. Dr. Ceferino S. Rodolfo in charge of the Industry Development and Trade Policy Group and Mr. Paul Joseph A. Gamalinda, Visit to the Philippine Stock Exchange Senior Investments Specialist, International Investments On October 16, the CACCI delegation visited the Promotion Service of the BOI. Philippine Stock Exchange (PSE) located at the Bonifacio Global Mr. Modi briefed Undersecretary Rodolfo and Mr.

4 Gamalinda about the Confederation, its history, and its activities. Confederation can assist his office in its efforts to expand the He highlighted the active participation played by PCCI in the trade and investment activities of the Philippines regionwide. organization, being one of the founding members. He said that He was also pleased to know that CACCI has taken an active his visit to the Philippines was very timely given the strong part in the various regional forums such as the ASEAN Business economic growth shown by the country in recent years and its Advisory Council and the APEC Business Advisory Council continued bright prospects moving forward, adding that CACCI in addressing issues pertaining to trade liberalization and trade wanted to play a role in the economic development of the facilitation. He also took interest in the fact that CACCI has been country by inviting its members from other countries to visit the issuing position papers on these important issues and said that he Philippines and gain first-hand information on the economic and would take some time to look at these position papers. business conditions in the country and the trade and investment Undersecretary Rodolfo also informed CACCI Vice opportunities it offers to businessmen from around the region. President McMullin about the ongoing issue on exports of CACCI also hopes to serve as a platform for the Philippines and Philippine bananas to Australia, which has been left unresolved its local business community to expand its market reach into for the past 25 years. Mr. McMullin said he would try to check other parts of the region. the background on this issue and would give his comments to the Undersecretary in due course. The Undersecretary also informed the CACCI visitors that the Philippines is now increasingly eyeing the markets outside ASEAN for its trade and investment activities, and these would include the South Asian countries such as Bangladesh. Mr. Modi then took the opportunity to invite the Undersecretary to attend the 33rd CACCI Conference in Bangladesh in November and possibly to make a country presentation at the “Discover Business Opportunities Through CACCI” session. Dr. Rodolfo expressed interest in making a country presentation at the Conference, and said that he would coordinate with PCCI on DTI’s participation Undersecretary Rodolfo appreciated the opportunity in Bangladesh. to be introduced to CACCI and expressed his hopes that the

CIPE to Conduct Two Sessions at the 33rd CACCI Conference in Bangladesh

market access for local businesses, doubles when moving from traditional promoting inclusive trade, creating jobs, offline trade to cross-border e-commerce. and expanding tax revenue for governments For this session, CIPE will to provide essential services. As the scope invite speakers who will examine: (a) of digital innovation expands around opportunities for digitally-driven growth the globe, so must national and regional that empowers women and the barriers policies that facilitate business growth and they still face (e.g., access to infrastructure, The Center for International competitiveness. capital, technology, regional and global to Private Enterprise (CIPE) has offered For this session, CIPE will invite markets); (b) best practices and successful to conduct two sessions during the 33rd speakers will share their perspectives on country examples in bringing women into CACCI Conference to be hosted by the how to engage entrepreneurs and businesses the digital economy; and (c) potential Federation of Bangladesh Chambers and other stakeholders regarding digital synergies with existing regional initiatives of Commerce and Industry (FBCCI) empowerment and how to encourage CIPE is one of the four core institutes of on November 26-27, 2019 in Dhaka, chambers/associations to play an active the National Endowment for Democracy Bangladesh. role in achieving this objective. and an affiliate of the US Chamber of CIPE will take the lead role The other session to be conducted Commerce. Since 1983 CIPE has been in organizing Plenary Session 4 which by CIPE will be the Breakout Session on working from the ground up with partners will focus on the topic “Building an Overcoming the Digital Gender Divide. to find locally driven solutions to problems Enabling Environment for Inclusive According to CIPE, including women that affect the lives of millions of people. Digital Transformation in the Asia- entrepreneurs and business owners in Working with our local partners that Pacific”. According to the CIPE, the digital developing the rules and regulations that include business associations, chambers economy, including cross-border services, govern online trade is crucial to promote of commerce, think tanks, universities and digital trade, and electronic commerce participation and growth in e-commerce. advocacy organizations, CIPE is helping (e-commerce), contributes to democratic Research by the International Trade Centre create the enabling environment for and economic development by expanding shows that the share of women-owned firms business to thrive.

5 MNCCI Project Proposal Receives CACCI Foundation Grant

objective of the Foundation is to help chambers in developing countries around the Asia-Pacific region to become sustained contributors to the economic development of the private sector. Contributions to the Foundation would be used to support capacity-building activities aimed at promoting the growth and development of entrepreneurs and small and medium enterprises (SMEs) in the region. Since it was established in 2006, the CACCI Foundation has funded three projects aimed at promoting the development of entrepreneurship. These three projects – which were granted US$5,000 each - included: A project proposal submitted by the Mongolian National 1. Youth Business Sri Lanka Programme in Sri Lanka - which Chamber of Commerce and Industry (MNCCI) is the latest provides assistance (in the form of a loan of US$500 and beneficiary of financial assistance from the CACCI Foundation. mentoring support) to enterprising youths who have viable The trustees of The CACCI Foundation has recently business plans but do not have financial resources; approved a grant in the amount of US$5,000 for the MNCCI 2. “Life Forever Beautiful-Organic Mongolia” project in project named “Empowering Women Entrepreneurs in Cosmetic Mongolia – which is a project of the MNCCI dedicated to Industry”. The project is primarily aimed at strengthening the procuring yak’s milk from herders as foundation for milk capacity of female-owned cosmetic companies by conducting production. training to some 200 employees (both women and men) of the 3. Barisal Women CCI’s Project on Promoting Women 30 Mongolian companies engaged in the manufacture of end- Entrepreneurship Through Development of SMEs – use cosmetics. The training program will run for a period of one which is a project of the Barisal Women Chamber of month, and is tentatively scheduled in January 2020. Commerce and Industry (BWCCI) aimed to assist in the The CACCI Foundation was established during the 40th entrepreneurial development of women, especially the Anniversary celebration of CACCI in Taipei in November 2006. less fortunate ones, in Barisal, which is an old port located Its creation was deemed one of the legacies of CACCI as the some 353 kilometers from Dhaka in southern Bangladesh. Confederation entered its fifth decade of existence. The primary

CACCI Invited to ASEAN Business and Investment Summit

The Confederation of Asia-Pacific Chambers of The Summit provides a platform for the business Commerce and Industry has been invited to attend the ASEAN community to engage with key ASEAN Leaders and beyond, the Business and Investment Summit to be held on November 2-3, high-profile entrepreneurs and the key decision makers. The event 2019 in Bangkok, Thailand. touches on relevant key global issues and provides participants Organized by the ASEAN Business Advisory Council with opportunities to explore different strategic direction that (ASEAN BAC), the two-day event will be held under the theme they can undertake to overcome challenges faced by businessmen of “Empowering ASEAN 4.0”. The ASEAN Business and in the world today. Investment Summit is ASEAN’s premier annual business and CACCI is an Associate Member of the Joint Business investment event. It is held in conjunction with the ASEAN Councils created by the ASEAN BAC. Summit.

6 CACCI Invited as Panelist in ICDF Agribusiness Forum Taipei

CACCI and its activities to promote regional cooperation in Asia- Pacific, as well as shared his views on the main challenges of business development in the region and potential development opportunities in the future. CACCI was invited as Panelist in the 2019 Asia-Pacific The Forum also served as an occasion for the launching of Agribusiness Development & Matching Forum organized by the TaiwanICDF Business Matching Platform which is designed the International Cooperation and Development Fund of Taiwan to boost overseas business opportunities by enhancing the linkage (TaiwanICDF) on October 24, 2019 in Taipei, Taiwan. between the overseas market and Taiwanese companies. The main objectives of the forum were: (1) To improve The TaiwanICDF is dedicated to boosting socio- linkage between the industries in Taiwan and governments and economic development, enhancing human resources and private sectors in the Asia-Pacific region; (2) To expand integration promoting economic relations in a range of developing partner of industry development and international aid projects; and To countries. It also offers humanitarian assistance and provide aid establish an information exchange platform. in the event of natural disasters or international refugee crises. To CACCI Deputy Director-General Mr. Amador Honrado carry out its mission, TaiwanICDF offers a range of assistance represented CACCI in the panel discussion on the topic that centers on four core operations: lending and investment “Partnership for Better Agribusiness Ecosystem in Asia-Pacific”. technical cooperation, humanitarian assistance, and international Mr. Honrado joined other government officials and business education and training. Its Fund is used to make direct or indirect representatives from Taiwan and other Asian countries invited to investments and to finance lending operations. the Forum. During the panel discussion, Mr. Honrado introduced

2020 Smart City Summit and Expo in Taiwan

The 2020 Smart City Summit and global networks for groups and individuals Expo (SCSE) will be held in Taipei on March in the industry, the SCSE is expected to 24-27, 2020. bring together more than 30,000 professional Organized by the Taipei Computer visitors and more than 250 exhibitors from Association, the four-day event aims to around the world to share their insights and accelerate the application of AI technologies facilitate in-depth discussion at more than 60 in different areas such as transportation, parallel conference sessions. healthcare, education, energy efficiency and Interested parties may wish to visit sustainability, and architecture design through the event website at https://en.smartcity.org. exhibitions, forums, and networking events. By creating strong tw/index.php/en-us/ for more information

7 CACCI Vice President Peter McMullin Sets Up Good Business Foundation

Mr. Peter McMullin, Vice President of CACCI from Australia, has recently established the Good Business Foundation (GBF). It is a for-purpose organisation, purposefully leveraging expertise, relationships and resources to further social good. A Melbourne philanthropist, Mr. McMullin – along with his team He has made a significant contribution throughout his career at GDF - believe that investing in the future is essential for both forging positive, constructive partnerships between the private business and communities to thrive. sector and governments, the not-for-profit sector and educational Mr. McMullin has an extensive legal and business career institutions. In furthering these objectives he has recently encompassing prominent roles in both the public and private established The Good Business Foundation, a progressive sectors. In his current role as Chairman and Director of McMullin Foundation looking at engaging business in social good. Group, Peter McMullin leads a dedicated team of professionals, As an active philanthropist, Peter McMullin seeks to providing strategic direction and financial management across a collaborate with other individuals and organisations to maximise range of industries. He also acts as Special Counsel for Cornwall the impact of his contributions. A recent example is supporting Stodart Lawyers, specialising in improving outcomes for the firm the establishment of the world’s first academic Centre dedicated and its clients by facilitating meaningful connections between to the issue of Statelessness at Melbourne University Law School, like-minded people. known as Peter McMullin Centre on Statelessness. Throughout Peter’s career, he has had a deep-seated Peter has a long-standing relationship with Timor-Leste. interest in community affairs. He has consistently used his He is an international business adviser to Timor-Leste’s Minister professional experience and network to further causes that he of Foreign Affairs and serves as Victoria’s Honorary Consul to feels deeply and passionately about. Timor-Leste in Victoria. Peter has visited Timor numerous times Peter’s belief is that the private sector has an important over the years, and has led study tours and acted as an election role to play in the resolution of many of our pressing social issues. observer.

University of Melbourne Receives $4m Gift from Philanthropists Peter and Ruth McMullin to Build Science Gallery Melbourne

Victoria will be home to a new “The Gallery provides experiences gallery to inspire young adults in STEAM that are transformative at a crucial time in (Science, Technology, Engineering, Arts a young person’s life. We believe Science and Mathematics) through the generosity Gallery will have a lasting impact on the and leadership of a $4 million gift from future and consider this gift an investment in philanthropists Mr. Peter McMullin, CACCI Australia’s next generation of scientific and Vice President, and his wife Ruth. creative trailblazers.” Science Gallery Melbourne will The Science Gallery Melbourne gift is be the first and only Australian node in the the second major donation to the University acclaimed international Science Gallery network. It will open at of Melbourne from the McMullins, who in 2017 supported the the University of Melbourne in late 2020. establishment of the Peter McMullin Centre on Statelessness. In announcing their gift during National Science Week, Peter and Embedded within the Law School, the Centre plays a Ruth McMullin said Science Gallery Melbourne is a vital and critical role in worldwide efforts to eliminate statelessness and to important new addition for young people. protect the rights of stateless people. “We’ve experienced Science Gallery in its original Acknowledging the significant gift, Vice-Chancellor home in Dublin as well as the pop-up programs in Melbourne Professor Duncan Maskell said: “Peter and Ruth’s extraordinary and have witnessed young people’s minds being opened to new generosity to the University of Melbourne demonstrates possibilities. By placing young people at the centre of programs exceptional vision and leadership to inspire tomorrow’s students. the gallery genuinely reflects their voices and concerns,” the They share our passion to stimulate bright minds and I am McMullins said. delighted that they will help bring Science Gallery Melbourne to

8 life and create a wonderful legacy for the generous in their philanthropy and their in 1975 and has enjoyed a successful nation.” engagement. Through this gift, Science career as a lawyer, businessmen and civic The $4 million gift is offered Gallery will impact the lives of young leader. He served as Deputy President of under the expectation that Science Gallery adults and we hope it inspires other partners the Museums Board of Victoria, Chair of Melbourne leverage the gift to match those to donate.” the Melbourne Comedy Festival and on funds through other donations. Peter and Ruth McMullin have several prominent arts Boards including the In thanking Peter and Ruth maintained a strong commitment to young National Portrait Gallery of Australia and McMullin for their gift, Director Science people through their civic and professional Geelong Art Gallery. He was a Founding Gallery Melbourne Rose Hiscock said: roles. Director of the Small Change Foundation “Peter and Ruth are passionate contributors Peter McMullin graduated from which has developed into the leading to Australia’s cultural sector. They are the University of Melbourne’s Law School Foundation for Young Australians.

Former CACCI President Amb. Yujucio Receives Global Excellence Award

Ambassador Benedicto Yujuico, Former President of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI), was recently presented with the 2019 Global Excellence Award by the International Chamber of Commerce Philippine (ICC Philippines). Given on the Centennial Year of the International Chamber of Commerce, the Award was presented to Ambassador Yujuico during the 45th Philippine Business Conference & Expo held on October 16-17, 2019 at the historic Hotel in Manila, Philippines. The former CACCI President was cited for his “contribution to the Philippine economy by pioneering innovative and sustainable businesses. Ambassador Yujuico’s business wisdom and brand of leadership has instituted significant reforms in the private sector both locally and globally, in his capacity as Honorary Chairman of the Philippine Chamber of Commerce and Industry and former President of the Confederation of Asia Pacific Chambers of Commerce and Industry. He continued to inspire entrepreneurs to pursue efficient and innovative leadership in business”.

9 Product & Service Councils

Asian Council on They also touched upon ways to Health and Education develop human resources in service of IT collaboration and improve the capacity, Indonesia president names Gojek scale and quality of cooperation projects. co-founder as education minister Apart from exchanges and business networking activities, the two-day event featured exhibitions introducing products and solutions of Vietnamese and Japanese women entrepreneurs have experienced enterprises. gender bias when raising capital, with women in Hong Kong, mainland China and Singapore investing more of their own money to start a business, according to a Nadiem Makarim, founder of the report by HSBC Private Banking. Indonesian ride-hailing and online Women secure 5 percent less payment firm Gojek. capital on average globally, according to the “She’s the Business” report, and 61 percent On this occasion, the Vietnam- Indonesian President Joko of women surveyed said they had to pitch Japan IT Cooperation Committee and the IT Widodo on October 23 named 35-year- for capital in front of groups of investors Innovation and Strategy Centre of Okinawa old Nadiem Makarim, the co-founder and solely made up of men or predominantly prefecture of Japan signed a memorandum ex-chief executive of ride-hailing and men. of understanding on cooperation. payments firm Gojek, as education and On average, women globally In his opening remarks, Vice culture minister. put £115,786 (US$142,841) of their own Chairman of the municipal People’s Gojek said on October 21 its money into their businesses, according Committee Le Trung Chinh, said Da Nang president Andre Soelistyo and other co- to the report. In mainland China, women has set up cooperative ties with Japanese founder Kevin Aluwi would replace entrepreneurs invested £159,851 on partners and cities like Yokohama, Makarim in running unlisted Gojek. average in their businesses, compared with Nagasaki and Kisarazu. The Indonesian company, valued £125,033 in Hong Kong and £121,118 in With 177 projects worth over at US$10 billion, raised more than US$1 Singapore. US$800 million, Japan is the biggest billion earlier this year from backers “Over the last few years, we foreign investor in Da Nang, making including Alphabet’s Google and Chinese have undertaken substantial research up 25 percent of the total foreign direct tech giants Tencent and JD. into the journeys and motivations of investment (FDI) in the city, Chinh said. A spokesman for Gojek told entrepreneurs. Whilst entrepreneurship Besides, Japan is also the biggest Reuters on October 22 that Makarim will as a whole has been flourishing, we were software export market of IT firms in Da keep his stake but not have any advisory disconcerted by the fact that still today, Nang, accounting for more than 36 percent or executive role at the company. Gojek female entrepreneurs represent just 3 of the market share, he added. declined to comment on the size of percent of deal flow,” Antonio Simoes, Nhan Dhan Online Makarim’s stake. chief executive of HSBC Private Banking, Investors say that Widodo’s said. “While the proportion of women- choice of Makarim, a graduate of Brown led start-ups continues to grow, female University and Harvard Business School, entrepreneurs are statistically still playing Asian Council on Water, is a welcome signal that the president catch-up.” Energy and Environment will focus on developing the booming South China Morning Post technology sector in Southeast Asia’s largest economy. Asia’s thirsty coal-fired Channel News Asia power plants face water scarcity Asian ICT Council Asia’s reliance on coal-fired Japan ICT Day connects power may prove unsustainable in the long Women Entrepreneurs Group Vietnamese, Japanese firms run because thermal power plants need to be cooled down with large quantities More than a third of women Vietnamese and Japanese firms of water, the sources of which are drying entrepreneurs have faced bias in shared information about and cooperation up because of climate change, says a new raising capital, HSBC report says experience in new technologies during study. Japan ICT Day 2019 that opened in the Coal-fired power plants in India More than a third of the world’s central city of Da Nang on October 22. and South-East Asia are most likely to be

10 Product & Service Councils affected by future water shortages, says the suitable for hot and humid regions like study published 20 September in Energy South Asia,” Yaoping tells SciDev.Net. and Environmental Science. Already, from “Power plants in the region under study 2013–2016, water shortages shut down 14 have high water withdrawals and discharge of India’s 20 largest thermal power stations, the warmed water in a way that can damage costing utilities US$1.4 billion in potential ecosystems.” revenue, according to the World Resources According to the study, more than Institute. 400 gigawatts of new coal-fired power plant “Our work suggests that electricity and water users,” says Yaoping Wang, lead capacity are planned to be in operation by planning in developing Asia should author of the study and researcher at the 2030 in Mongolia, South-east Asia and coordinate with water resources planning University of Tennessee. parts of India and China. and find solutions that benefit both energy “Dry cooling equipment is not Eco Business

Investment & Joint Ventures in the Region

Suncity Group buys and Aurora the remaining 5.5%. Yoma Central will be anchored majority stake in Philippines A Suntrust press release added that by the restored former headquarters of the the company was increasing its authorised Burma Railway Company, one of Yangon’s capital stock from its existing level of Php3 oldest and most cherished colonial-era billion to Php23 billion. buildings. “Around 5 billion common shares The project will feature two will be subscribed by Fortune Noble Grade A office towers and a collection of Limited and Megaworld,” it said, after luxury private homes, all of which will be which, “Fortune Noble will continue to connected seamlessly by a retail podium. Suncity Group looks set to extend own and maintain its majority controlling “Yoma Land is an ideal partner its global casino interests to the Philippines interest in Suntrust, while Megaworld will for debuting the Westin brand in this via a multi-layered agreement that would have at least 34% stake.” market,” said Marriott InternationalAsia include operating the main hotel and casino Inside Asia Gaming Pacific chief development officer Paul at Westside City Resorts World – the Foskey. “The signing of The Westin fourth integrated resort being developed in Marriott to fly Westin flag in Yangon Yangon marks a significant milestone in Manila’s precinct. Marriott International’s continued growth Westside City Resorts World is a in Southeast Asia, and we look forward to sprawling, multi-billion dollar leisure and partnering with Yoma Land in building on entertainment township being developed this momentum.” on 31-hectares by Philippines construction Currently, Westin has more than giant Megaworld Corporation and 220 hotels in nearly 40 countries and operator Travellers territories. International Hotel Group, a joint venture TTR Weekly between Genting Hong Kong and Alliance Marriott International Inc Global Group. has signed a landmark agreement with Oyo opens 100 hotels in According to a filing on October Myanmar’s leading property developer, partnership with Softbank in Japan 29 on the Hong Kong Stock Exchange, Yoma Land, to bring the Westin brand to Suncity Group has reached an agreement Myanmar in late 2021. with Megaworld and an entity called Aurora Under the agreement, the new- Securities, Inc to purchase the entire issued build Westin Yangon will feature 281 share capital in Philippines-listed Suntrust rooms and suites alongside 90 premium Home Developers Inc. Under the terms of serviced apartments all having spectacular the agreement, Suncity’s wholly-owned views overlooking downtown Yangon and subsidiary Fortune Noble Ltd will acquire the iconic Shwedagon Pagoda. 2.55 billion shares in SunTrust – equal to The 26-floor hotel will be part Indian hospitality unicorn Oyo’s 51% of issued shares – at a cost of Php1.0 of the Yoma Central integrated real estate Japanese arm has launched operations in per share with Megaworld to acquire 43.5% development due to be completed in 2021. over 100 hotels across the East Asian nation

11 in a joint venture with majority investor SoftBank Group Corp, as the company looks for a path to profitability. Softbank has been struggling to raise money for a second investment fund after the failed public offering of office-rental company WeWork - one of its marquee investments - and due to questions about the profitability of others such as two companies said on October 1. valuation of $2.5 billion on the Asia- Oyo and taxi aggregator Uber. The two companies have for focused private equity firm’s health care The Japanese tech giant has months been negotiating the deal, which arm, according to a person with direct already invested nearly $1 billion in Oyo. will see Ford hold a 49% stake in the new knowledge of the matter. The SoftBank-Oyo partnership, Oyo Hotels entity, while Indian rival Mahindra will The deal, which has not yet Japan, opened hotels in over 50 Japanese own 51%, Reuters reported in April. closed, also reflects Tencent’s efforts cities, including Tokyo, Osaka and Kyoto, By shifting to a joint venture, to diversify from its core entertainment Oyo said in a statement on October 24. Ford is changing its India strategy where businesses, where growth has softened It was not immediately known it has long run an independent operation. amid China’s economic downturn and how much either of the companies have India’s autos market is dominated by Asian stricter government oversight. invested in the partnership, but a person automakers like Suzuki Motor Corp and Tencent declined to comment, aware of the development said SoftBank Hyundai Motor Co. but company executives have previously Reuters and its Vision Fund will have a 50% share expressed their interest in the health care in the venture. sector. Business Today Tencent expands health care “Tencent has done a lot of investments in $500m Hillhouse deal thinking and exploration on how to improve the quality and accessibility of Ford forms JV with Mahindra for the entire medical industry through internet India business Chinese tech powerhouse Tencent Holdings, which in recent years has technologies and platforms,” Mu Yifei, an executive in charge of investment, said in a Ford Motor Co and Mahindra taken stakes in hundreds of companies worldwide, is continuing its shopping spree statement last year following the debut of a & Mahindra will form a joint venture joint venture between Tencent and Trusted company in India valued at $275 million with a planned $500 million investment in Hillhouse Capital’s retail pharmacy Doctors to build the largest private medical that will develop, market and distribute care network in China. Ford branded vehicles in the country, the business. The transaction would put a Asia Nikkei Review

Economic Cooperation News

Singapore and China discuss new Partnership (RCEP). Vietnam- Czech Republic’s initiatives for cooperation, including The trade pact involves 16 Asia leading partner in Southeast Asia financial connectivity Pacific countries, including Singapore and China. Senior leaders of the Czech Singapore and China have Earlier in the day, Mr Heng also Republic affirmed that the European discussed new initiatives to further bilateral met Chinese Vice President Wang Qishan. country considers Vietnam its leading cooperation, especially in financial The leaders reaffirmed the strong partner in Southeast Asia while receiving connectivity. cooperation between the two countries, Politburo member and permanent member This comes as Singapore Deputy built by past generations of leaders. of the Communist Party of Vietnam (CPV) Prime Minister Heng Swee Keat met In his opening remarks, Mr Wang Central Committee’s Secretariat Tran Quoc Chinese Vice Premier Liu He on October said the cooperation mechanism between Vuong in Prague on October 25. 17 in Beijing. China and Singapore has been working Vuong paid a visit to the Czech In a Facebook post, Mr Heng well. Republic from October 22-24 at the said that working together in financial He added China entered a new invitation of Vojtech Filip, Vice Chairman connectivity would also help support era after the 19th Party Congress in 2017 of the Czech Parliament’s Chamber of regional development. and China-Singapore relations will achieve Deputies and Chairman of the Communist Both leaders also reaffirmed faster and higher quality development Party of Bohemia and Moravia (KSCM). the two countries’ commitment to work moving forward. He met with Jan Hamacek, towards the early conclusion of the Channel News Asia First Deputy Prime Minister of the Regional Comprehensive Economic Czech Republic, Minister of Interior and

12 Economic Cooperation News

Chairman of the Czech Social Democratic Kyung-wha and trips to South Korea by of Indonesia-Myanmar diplomatic Party (CSSD); and Karel Havlicek, Deputy Minister of Industry and Infrastracture relations, the Indonesian embassy in Prime Minister and Minister of Industry Development Roman Sklyar, Minister of Myanmar organised a series of events and Trade. He also held talks with KSCM Foreign Affairs Beibut Atamkulov and including cultural and food festivals, leaders to promote traditional friendship Minister of Justice Marat Beketayev. to broaden people’s understandings of between the two countries more practically The countries work continuously Indonesian culture last week. As emerging and effectively. to expand their economic ties, and the economies, the two countries have shared At the meetings, the two sides increase in mutual trade is indicative of a long history of mutual assistance, said shared their views on the unceasing their effort. Kim has witnessed the trade Ambassador Fadri. development of friendship and collaboration volume double during his nearly three-year He cited the goodwill gesture between Vietnam and the Czech Republic, term as an envoy to Kazakhstan. According of Myanmar sending rice to Indonesia in with regular high-level political dialogues. to Korean statistical data, the trade volume the 1960s when Indonesia suffered from Vietnam wished to enhance cooperation reached $3.1 billion in the first nine months a shortage of food supplies, and again in with the Czech Republic through Party of 2019 compared to $1.5 billion for all of 1997, when Indonesia welcomed Myanmar channels and people-to-people diplomacy, 2017, he said. into the Association of Southeast Asian Vuong said. Kazakh data shows mutual trade Nations (ASEAN). The hosts said the Czech Republic was $4.29 billion in the first nine months of Bilateral exchanges have further wanted to develop the friendship and the year. extended to the grassroots level, with the cooperation with Vietnam, especially in “Kazakh and Korean statistics Indonesian government now offering economy-trade and defence-security, and always differ a little from each other for Myanmar students official scholarships to agreed to work with the Vietnamese side some reasons,” he said. pursue their studies in the archipelago. Last to organise activities celebrating the 70th The presidential visit also year, 11 students from Myanmar secured anniversary of bilateral diplomatic ties in increased Korean interest in Kazakhstan. the opportunity. 2020. “Recently, people from Korean Seeing potential opportunities for Vuong and Jan Hamacek television channels came to Kazakhstan growth in the country, Indonesia also wants discussed measures to step up bilateral and shot a documentary movie about to channel more investments into Myanmar. collaboration, particularly in fighting crime Kazakhstan, near Almaty. Kazakhstan often Pharmaceutical firm Kalbe Myanmar Co and citizen protection. appears on Korean television, meaning the will begin operations in a few months time Vuong called on the Czech Korean interest in Kazakhstan is growing,” in Thilawa Speical Economic Zone, for Republic to facilitate the travel of he noted. example. The firm has been characterised Vietnamese and Czech citizens in order Korean business circles recognize as “an example for the future development” to boost tourism development, people-to- Kazakhstan as a leading economy in of Indonesia companies in Myanmar. people exchanges and trade links between Central Asia and, therefore, “when Korean Myanmar Times the two countries. companies want to enter the Central Asian Vietnam News market, they start to try with Kazakhstan. In other words, Kazakhstan is some sort of Kazakh-South Korean relations a testing board” that measures the extent strengthen after top-level visit, of their success or failure in the region’s says envoy market, he added. Astana Times Kazakh-South Korean relations have been growing at a dynamic pace since Indonesia to strengthen ties, the two countries established diplomatic raise investments and trade with relations in 1992. The bilateral relationship Myanmar was strengthened further following South Korean President Moon Jae-in’s state visit Indonesia is keen to strengthen to Kazakhstan in April 2019, said South bilateral relations with Myanmar and Korean Ambassador to Kazakhstan Kim channel more investments into the country, Dae-sik. to Indonesian Ambassador Iza Fadri told The state visit initiated a chain The Myanmar Times at the sidelines of of visits between the countries’ officials, a diplomatic reception on Myanmar- including trips to Kazakhstan by Korean Indonesia relations, trade development and National Assembly Speaker Moon Hee- future outlook in Yangon. sang and Foreign Affairs Minister Kang To celebrate the 70th anniversary

13

Fairs & Exhibits in Asia-Pacific

DATES NAME OF FAIR COUNTRY DATES NAME OF FAIR COUNTRY 2019 (Further Information) 2019 (Further Information) 2-4 ACCS 2019 (Manch Exhibitions Bangkok 11-13 World of Concrete Asia 2019 Shanghai Dec. (Thailand) Co., Ltd., Tel: Thailand Dec. (Shanghai Yingye Exhibitions Co., Ltd., China 66-6173-61478, Email: Tel: 86-21-5109-0852, Email: [email protected], [email protected], URL) URL) 12-14 Asia-Pacific Metal Industry Exhibition Bangkok 3-5 AusRAIL PLUS 2019 Conference & Sydney Dec. (China Foundry Productivity Promotion Thailand Dec. Exhibition (Informa Australia Pty Ltd., Australia Center, Tel: 86-024-2585-5793, Email: Tel: 61-2-9080-4307, Email: [email protected], URL) [email protected], URL) 12-15 Home Table Deco Fair 2020 (Reed K. Seoul 3-5 Iraq Oil & Gas Basra Show (Iraq Oil & Basrah Dec. Fairs Exhibitions, Tel: 82-2-554-3010, Korea Dec. Gas Basra Show, Tel: 90-212-3560-056, Iraq URL: Email: [email protected]) http://www.hometabledeco.com/eng/mai n/main.php 3-6 Woodex (ITE Moscow, Tel: Moscow 14-16 15th Build Asia 2019 (Ecommerce Karachi Dec. 7-499-750-0828, Email: Russia Dec. Gateway Pakistan (Pvt) Ltd., Tel: Pakistan [email protected], URL: 92-21-111-222-444, Email: http://www.woodexpo.ru/Home) [email protected], URL: https://www.buildasia.net/) 4-6 WATERTECH Beijing 2019 (Shanghai Beijing Dec. CHC EXPO Co., Ltd., Tel: China 14-23 World Bazaar Festival (Worldbex Manila 86-21-3323-1499, Email: Dec. Services International, Tel: Philippines [email protected], URL) 63-656-9239, Email: [email protected], Inquiry, 4-7 (CNR Holding, Tel: Istanbul Eurasia ISG URL: http://worldbazaarfestival.com/) Dec. 90-212-465-7474, Email: Turkey [email protected], URL: 15-16 Taipei Building Show (Supperline Taipei http://cnrisgfuari.com/index.aspx?ln=2) Dec. International Enterprise Co., Ltd., Tel: Taiwan 886-2-2758-8173, Email: 5-7 (Vietnam Hanoi Vietnam Medipharm Expo [email protected], URL) Dec. National Trade Fair & Advertising Vietnam Company, Tel: 84-904-154-438, Email: 15-18 The 14th Cambodia Import Export One PhnomPenh [email protected], Dec. Province One Product Exhibition Cambodia URL) (General Doctorate of Trade Promotion, Ministry of Commerce, Kingdom of 5-7 (Japan Environmental Tokyo EcoPro2019 Cambodia, Tel: 855-99-272-119, Email: Dec. Management Association for Industry, Japan [email protected], Nikkei Inc., Tel: 81-3-6256-7355, Email: [email protected]) [email protected], URL) 17-20 CIExpo 2019 (Construction Industry Hong Kong 5-7 Hong Kong APA 2019 – AgriPro & Tech Asia Dec. Council, Tel: 852-2100-9000, Email: China Dec. (Vertical Expo Services Company China Expo [email protected], Inquiry, URL: Limited, Tel: 852-2528-0062, Email: http://ciexpo.cic.hk/) [email protected], URL) 18-21 International Robot Exhibition 2019 Tokyo 5-8 (K and D ITMACH Ahmedabad ITMACH India Dec. (Japan Robot Association/The Nikkan Japan Dec. Expositions LLP, Tel: 91-22-2682-0284, India Kogyo Shimbun, Ltd., Email: Email: [email protected], URL: [email protected]) https://www.itmach.com/ 19-21 IFSEC India 2019 (UBM, Tel: New Delhi 5-8 Manila Philippine Garment Industry & Fabric Dec. 91-11-6651-7606, Email: India Dec. (CP Exhibition Ltd., Tel: Philippines Expo 2019 [email protected], Inquiry, URL: 852-2511-7427, Email: https://www.ifsec.events/india/) [email protected], URL) 19-23 VIETBUILD HOME 2019 (Vietbuild Ho Chi Minh 10-14 (Confederation of Indian Bangalore EXCON 2019 Dec. Construction International Exhibition City/Vietnam Dec. Industry (CII), Tel: 91-44-4244-4520, India Organizing Corporation, Tel: Email: [email protected], URL: 84-28-3997-4999, Email: http://excon.in/) [email protected], URL) 11-13 4th Building Material & Housing Tokyo Dec. Equipment Expo (Reed Exhibitions Japan Japan Ltd., Tel: 81-3-3349-8576, Email: [email protected], URL)

14 Technology

Asia Mobiliti’s industry-first Mobiliti in their smart mobility agenda, dual-connectivity, e-sim enabled as well as collaborating with more IoT IoT Device ecosystem partners to deploy Digi’s eSIM technology,” he added. Digital News Asia

Waymo tests ‘rider only’ service and looks beyond robo-taxis merchant platform, has announced the launch of Fave Takeaway in Singapore. Takeaway will allow customers Transit tech startup Asia Mobiliti to pre-order their meal selection and Sdn Bhd has successfully completed the make payment via FavePay before pilot deployment of Orion, an IoT device picking up their order at the participating made for buses. The pilot was executed stores. Customers can look forward to in collaboration with a Malaysian fleet the collection within 30 minutes (or less) operator KR Travel & Tours Sdn Bhd. Waymo Chief Executive John depending on the restaurants’ speed of Orion was installed on the entire fleet of Krafcik said the self-driving vehicle service. Users will also be able to enjoy the LTCP (long-term car park) shuttle bus, company is now offering limited “rider- Fave’s various cashback and rewards consisting of 6 active buses owned by KR only” trips in Phoenix, Arizona, and is offerings. The new feature follows the Travel. The free shuttle service is provided looking beyond the robo-taxi business to launch of Fave’s Table Ordering service in at the Kuala Lumpur International Airport generate future revenue, including delivery May this year. at both airports, KLIA 1 & KLIA 2. services. Fave co-founder and chief Asia Mobility is claiming Orion Waymo, a unit of Alphabet Inc, executive officer Joel Neoh said, “As the as the first Malaysian-made device in the has begun offering fully automated rides, government continues to push for a digital transportation and mobility industry to without attendants in the vehicle, to a few and seamless economy, Fave is helping feature dual LTE and Sigfox connectivity hundred early users of its robo-taxi service SMEs adapt to the new landscape and in in a single device. The high-bandwidth in Phoenix, Krafcik confirmed on October a more cost-effective way by giving them 4G LTE connectivity is enabled via an 27 at a dinner with journalists ahead of a the tools to enable them to serve their embedded SIM (eSIM), replacing the conference in Detroit. customers in the best and efficient way physical SIM card. He did not say when or how possible. The introduction of Takeaway is This improves the manageability quickly Waymo would expand “rider- our way of enabling that our merchants get of devices on large transport fleets as the only” services. Riders signed up for the the most out of the platform by increasing operators can easily provision network fully automated service have signed non- productivity and revenue.” connections wirelessly without the need disclosure agreements, he said. Takeaway signals Fave’s to replace physical SIM cards in their Waymo hasn’t disclosed how commitment to digitise Southeast Asia’s vehicles. Physical SIM cards also run the many fully automated rides it has given, F&B sector further by allowing merchants risk of being dislodged and damaged after but has indicated it is still a small number. to efficiently serve more customers prolonged usage. Krafcik said Waymo continues to look for beyond the capacity of their outlets while This technological innovation is new ways to sell its technology beyond diversifying their revenue streams and made possible with the partnership between robo-taxi services. increasing productivity. Asia Mobiliti and its telecommunications The company is testing its so- Fave Singapore managing director network partners, Digi and Xperanti. called automated driver on Peterbilt Ng Aik-Phong said, “Queueing makes up a “We’re pleased to have partnered with Asia trucks and plans to expand trucking and large portion of the average Singaporean’s Mobiliti on their pilot project, powering commercial delivery applications of its time, but it is not something we would want one of the first adoptions of eSIM in technology as part of a project known to do when we are in a rush. That’s when industrial IoT devices, such as Orion,” said internally as “Husky,” Krafcik said. Waymo we want our food fast and efficient! With Digi’s Chief Digital Officer Praveen Rajan. has said it is testing its system on trucks in the introduction of Takeaway, we hope to “eSIM is indeed the next-gen Michigan, Arizona and Georgia. bring convenience and efficiency to our connectivity enabler and is set to be a Channel News Asia consumers while constantly improving key growth driver for all types of IoT our platform for both merchants and devices. There are many use cases of eSIM Fave launches consumers.” with clear merits in terms of scalability, Takeaway in Singapore Tech in Asia convenience, and ultra-reliability among others. We look forward to supporting Asia Fave, a Southeast Asian digital

15 Policy Updates

Australia of contracts,” Malpass said at a press government or technical ministry, but a conference in New Delhi on October 27. joint agreement,” Lahadalia said. “Where “Other countries in Asia have done pretty the agreement is carried out by the nickel Woolworths to be first in Australia well.” association with us the government.” with zero-waste food delivery system India jumped 14 places to 63rd in Indonesia’s government in the World Bank’s annual rankings for ease September expedited the ore export ban Woolworths says it will be the first of doing business released on October 24, by two years as part of its efforts to boost retailer in Australia to introduce a zero- helped by a new insolvency law. That’s expansion of a local smelting industry. wastage food delivery system that delivers a shot in the arm for Prime Minister Expectations of the Indonesian grocery essentials in reusable packaging. Narendra Modi, who’s inviting global ban have pushed nickel prices on the The major supermarket is partnering with investors to manufacture in India and help London Metal Exchange (LME) up nearly US recycling business Terracycle to offer boost domestic growth from a six-year low. 40% to around $17,000 a tonne now. In Loop to shoppers in Australia from mid- Malpass, who met Modi during September, they hit a five-year high of 2021. the day, also said India can deepen its $18,850 a tonne. Customers will be able to order corporate bond market. A corporate tax cut A spokesman at the mining a variety of products, including washing should add to more growth, he said. While ministry, which issues regulations on ore detergent, shampoo, juice or even ice Modi has overhauled areas like taxation exports, said he could not immediately cream in specifically designed packaging and banking over the past few years, the comment. delivered in a sturdy shipping tote. country still lags in enforcing contracts and Lahadalia, who was appointed by When the products are used, the registering property, according to the World President Joko Widodo in his new cabinet, packaging is placed back in the bag and is Bank. Modi aims to make India a $5 trillion said nickel companies agreed not to export either collected or dropped back in store. economy by 2025, from $2.7 trillion now. ore based on “collective awareness” to Once it has returned, it is cleaned The multilateral lender in October create added value to Indonesian resource and then reused, allowing it to continue cut India’s economic growth forecast by the exports by processing them onshore. a circular shopping system with zero most among South Asian nations, mainly Reuters wastage. because of a deceleration in domestic Loop would be the first project demand. India has been competing with in a long-term partnership between Asian peers such as Vietnam, Thailand and Japan Woolworths and Terracycle to help Malaysia to get investments from global bring down plastic wastage in Australia, manufacturing countries which are shifting Tokyo inflation remains stagnant Woolworths sustainability boss Alex Holt away from China due to tariff wars. While after Japan’s Oct. sales tax hike said. India comes closest to China in terms of “We are pleased to be working size, it has a weak infrastructure and red Core consumer prices in Tokyo, with innovative partners like Terracycle to tape slows down approvals. a leading indicator of nationwide inflation, lead the way in offering new and cutting- Gulf News rose 0.5% in October from a year earlier, edge solutions to cut down on plastic data showed on October 29, staying distant waste,” she said. Indonesia from the Bank of Japan’s elusive 2% target “Helping bring Loop to Australia and keeping it under pressure to ramp up is a further step in our long-term ambition stimulus. Indonesian nickel miners to to reduce our impact on the environment The data offered the first clue and support a circular economy.” stop ore exports immediately on how a sales tax hike that kicked off in News.com October could affect price growth, which Indonesia’s nickel miners agreed remains subdued despite years of heavy on October 28 to stop nickel ore exports India money printing by the BOJ. immediately, the country’s investment The rise in the core consumer agency chief Bahlil Lahadalia said, after price index (CPI) in the Japanese capital, India needs more reforms to be Jakarta last month brought forward a ban which includes oil products but excludes competitive, World Bank head says on shipments to January 2020 from 2022. fresh food prices, was slower than a median Exports due to be shipped from market estimate for a 0.7 percent gain and India can take more steps to be Indonesia, the world’s biggest nickel ore flat from the pace of increase in September. competitive in the global market, such as producer, will be bought by local smelter “Companies aren’t translating the enforcing contracts, World Bank President operators at an international price level, tax hike impact onto consumers as much as David Malpass said. Lahadalia said. expected,” said Mari Iwashita, chief market “There can be more progress “This agreement was carried economist at Daiwa Securities. in land permits and in enforcement out not on the basis of a letter from the “The BOJ is likely to trim its

16 Policy Updates inflation forecast at its quarterly report leaders, initiated the regulatory reforms incentives to industries outside the capital for October,” she said, adding that the within the Doing Business indicator areas region, which includes Manila. nationwide core CPI is likely to hit 0.5% in in Malaysia. Gulf News October. New Straits Times Japan’s government proceeded with a twice-delayed increase in the sales tax rate to 10% from 8% in October as Philippines Singapore part of efforts to rein in the country’s huge public debt. Manila grants tax perks to lure Singapore trails Australia as To ease the burden from the businesses back to Philippine capital APAC’s most data-ready market higher levy, the government started to offer discounts or make childcare services free The Philippine capital is granting Singapore is the second most data- of charge from October. tax perks as it seeks to restore the historic ready market in the Asia Pacific region Reuters city to its glory, Mayor Francisco Domagoso behind Australia, according to a study said in his speech before businessmen. by analytics platform Tableau and global Companies that build along market intelligence firm International Data Malaysia Escolta Street in the country’s old business Corporation (IDC). district will be exempted from business and The study classified markets Malaysia ranks 12th in the World real property taxes for 15 years, Domagoso across five dimensions, namely people Bank’s Doing Business Report said in a speech at the Management (organisation), people (skills), process, Association of the Philippines event on technology, and governance. Malaysia is ranked 12th with October 22. Scoring an average of 3.52 in the 81.50 points amongst 190 global economies Domagoso, a former actor who Data Readiness Index (DRI), the Lion City in the World Bank Doing Business 2020 also goes by the name Isko Moreno, is has the highest number of organisations in Report, recording an improvement from offering a tax amnesty program until the leading band (52%) and leads in people 15th position in the previous year. December and cutting incremental real skills (4.2 points) and governance (2.4 International Trade and Industry property taxes by 20% starting 2020 to points) categories. Minister said Malaysia’s improved boost revenue and lure businesses. He The findings suggest that performance in the Doing Business also opened a one-stop shop in city hall to Singapore should adopt an integrated 2020 Report was a testament of the process business permits in a day. model for data governance to take their ongoing reform initiatives to enhance Manila City is trying to lure data-readiness to the next level, the report competitiveness, productivity and back investors even as President Rodrigo noted. governance in the ease of doing businesses. Duterte’s government is seeking to grant For the whole APAC region, more The survey regulations governed incentives to industries outside the capital than 700 companies were tested for data- business activities in the economies, which region, which includes Manila. readiness and were placed under three are then ranked according to their ease of Companies that build along bands: leading, developing, and lagging. doing business scores based on quantitative Escolta Street in the country’s old business Data-ready companies contributed to 90% indicators of the regulations. district will be exempted from business and of better business outcomes than laggards. “The report measures the real property taxes for 15 years, Domagoso However, only 20% were in the leading processes for business incorporation, said in a speech at the Management band with 66% in the developing and 14% getting a building permit, obtaining Association of the Philippines event in the lagging bands. an electricity connection, transferring Tuesday. Australia lead APAC countries on property, accessing to credit, protecting Domagoso, a former actor who the DRI scale with an average score of 3.54. minority investors, paying taxes, engaging also goes by the name Isko Moreno, is It was the highest in people (organisation) in international trade, enforcing contracts offering a tax amnesty program until at 4.4, process at 4.1 and technology at 2.9, and resolving insolvency,” he said. December and cutting incremental real and second (49.5%) to Singapore in terms The Doing Business Report property taxes by 20% starting 2020 to of organisations in the leading band. Japan advocates regulatory quality and efficiency boost revenue and lure businesses. He came in at third on the DRI at 2.74. by instituting reforms. also opened a one-stop shop in city hall to India lagged the DRI with a score He said the Special Task Force to process business permits in a day. of 2.51, having the most organisations in Facilitate Business (PEMUDAH) with its Manila City is trying to lure the lagging band (30%). members comprising senior government back investors even as President Rodrigo Singapore Business Review officials and private sector business Duterte’s government is seeking to grant

17 Policy Updates

Taiwan agreed to purchase US$40 billion to US$50 Vietnam billion-worth of agricultural products from U.S. farmers. Seafood firms’ profits Confidence in Taiwan’s economy Taiwan News improves amid eased trade tension drag on weak exports Thailand Confidence in Taiwan’s economy Lack of production materials and picked up in October amid eased concerns flagging export value have caused seafood Thailand seeks clarity on companies to suffer losses in the third over a trade dispute between the United scrapping of US trade preferences States and China, as both sides agreed quarter of this year. to resume high-level talks to resolve the The Dong Thap- Province-based Thai government and business situation, according to Cathay Financial Vinh Hoan Company (VHC), the largest leaders are seeking clarification from the Holding Co. fish exporter in Vietnam, saw post-tax United States about the planned suspension Citing a survey conducted Oct. profit drop by 58.3 percent year-on-year of $1.3 billion (39.2 billion baht) in trade 1-7, Cathay Financial, one of the leading in Q3, reaching VND254 billion (US$10.9 preferences, ostensibly because of failure financial firms in Taiwan, said 40 percent million). to curb labour abuses in the fishery industry. of respondents to the poll thought the local VHC’s net revenue also dropped The suspension, to take effect on economy was doing worse than six months by 25 percent against last year, totalling April 25, will focus on products for which earlier, while 20.2 percent thought it had VND1.88 trillion. the US is a relatively important market, but improved The company attributed the where Thailand accounts for a relatively That translated into an optimism sharp fall in profit in the third quarter to small share of US imports, the office of the index for the current economic condition the significant decrease in export volume. US Trade Representative (USTR) said in a of minus 17.8 in October, up from minus VHC’s revenue from exports declined statement. 27.2 in September, the survey found. from $40 million in June to $22 million in Eligibility of all Thai seafood The economic optimism index September. products for the Generalized System of for the next six months also rose from In the first nine months, net Preferences (GSP) will be revoked due minus 22.5 in September to minus 15.1 in revenue at VHC decreased by 13 percent to to “longstanding worker rights issues in October, the survey indicated. VND5.69 trillion, while post-tax profit fell the seafood and shipping industries”, the The survey was conducted just by over 5 percent to VND981 billion. statement said. Areas where Thailand before Washington and Beijing were set to Minh Phu Seafood Joint Stock was said to remain weak are protection hold high-level trade negotiations, which Company (MPC), one of the world’s for freedom of association and collective raised hopes that the two sides will come biggest shrimp firms involved in farming, bargaining. up with an agreement to reduce the impact processing to sales, also experienced a Commerce Ministry officials on on the global economy. plunge of 31 percent in gross profit in Q3 October 26 were studying the US decision After the trade talks, the U.S. and to VND249 billion. and will hold a briefing at 10.30am on China reached the first stage of a trade deal MPC’s net revenue totalled October 28, said Keerati Ratchano, acting under which tariffs on US$250 billion- VNÐ3.2 trillion, a decrease of 15 percent director-general of the Foreign Trade worth of Chinese imports imposed by the year-on-year. Revenue from its financial Department. segment also plummeted 71 percent to U.S. -- which had previously been set to Bangkok Post rise from 25 percent to 30 percent Oct. 15 -- VND24 billion. Vietnam News would not go into effect, while Beijing has

Published monthly by the Secretariat, Confederation of Asia-Pacific Chambers of Commerce and Industry Ernest Lin, Director General; Amador R. Honrado, Jr., Editor, Jacqueline Uy, Associate Editor Wendy Yang, Contributing Editor; Teresa Liu, Assistant Editor 7F-2, No. 760, Sec. 4 Bade Road, Taipei 10567, Taiwan; Tel: (886 2) 2760-1139; Fax: (886 2) 2760-7569 Email: [email protected]; Website: www.cacci.biz

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