Southeast Asia – Page 54

Soft Space launches first JCB payment gateway in Malaysia

On: April 23, 2024

SenangPay, an online payment processor, allows JCB understanding.
to encourage Soft Space in various industries, such as in-flight payments.

The launch of the first JCB payment gateway enables JCB acceptance for e-commerce merchants via Soft Space.

Soft Space Sdn Bhd, a leading fintech-as-a-service ( FaaS ) provider, and JCB International Co, Ltd, the international operations subsidiary of JCB Co, Ltd (JCB), announced the launch of the first ever JCB payment gateway in Malaysia.

Following their successful central bank digital currency ( CBDC ) trial in December 2023 and the recent agreement allowing JCB acceptance for all Hong Leong Bank merchants, Soft Space said it regards this as a significant milestone in its strategic partnership with JCB.

Leveraging JCB’s strong global community and Soft Space’s technical knowledge, the JCB payment gateway aligns with the global shift towards varied electronic transactions, meeting the market’s demand for protected, innovative payment options.

In this situation, Soft Space provides an Application Programming Interface ( API ) specification that makes it possible for acquirers and payment processors to quickly and effectively give their retail merchants access to JCB’s network of over 156 million cardmembers worldwide as of September 2023 ( where annual transaction volumes exceed 43 trillion ( US$ 278 billion ) between April 2022 and March 2023 ) without having to establish a direct connection to JCB themselves.

Soft Space launches first JCB payment gateway in Malaysia Malaysia is the most popular nation in Southeast Asia in 2023, according to the start of the JCB pay gate^. Not only will this make cross-border payments more convenient, secure and seamless, it aligns well with our broader goal to promote Soft Space’s technology in other verticals such as transit and in-flight payments globally, ” said Joel Tay ( pic ), Chief Executive Officer of Soft Space^.

E-commerce merchants stand to benefit greatly from this development, especially those in the tourism sector. Japanese tourists are increasingly purchasing attraction tickets and booking accommodation via e-commerce merchants. If the merchants can start accepting JCB payments through payment facilitators, they are well-placed to capitalise on the rapidly growing international e-commerce spending by JCB cardmembers, which has increased by 52% from 2021 to 2022[1]. Figure I do not want to leave during the pandemic

Yoshiki Kaneko, President and CEO of JCB International Co, Ltd said: “Looking at the behavior of today’s shoppers, online shopping has become an essential part of their daily lives and also the primary source of growth for all companies, including JCB. This pattern is particularly prevalent since the crisis. To capitalize on the expanding business prospect in the e-commerce industry and to improve the experience for our JCB cardmembers and retailers, we are thrilled to launch the new work along with Soft Space. We can now have even greater assurance that our relationship with Malaysia’s top banking companies is essential to success thanks to this milestone in our strategic partnership with Soft Space. ”

Following the onboarding of senangPay, as the first JCB payment gateway part, Soft Space will expand the training of another acquirers and pay facilitators in the APAC area and past, promising greater effectiveness, security, and convenience for both merchants and JCB cardmembers.

By removing obstacles to making or accepting payments, we at SenangPay promote ease in business development. Integrating JCB Card understanding into senangPay’s habitat marks a major step for our stores, ” said Mansor Abd Rahman, CEO of senangPay. “Offering different payment options, while allowing consumers to pay using their desired methods, not just expands senangPay’s variety of transaction solutions, but also enables our merchants to join with Japan’s tourists and expatriates in Malaysia. ”

This achievement between Soft Space and JCB is more than just a milestone in their strategic partnership; it also demonstrates Soft Space and JCB’s shared commitment to changing the global payments landscape.

Climate, demography and a new green generation – Asia Times

By: Bolen C

On: April 23, 2024

In: Asia

Demography and culture are quickly emerging as two of the most interconnected issues in the twenty-first era. And the world’s people are more worried about climate troubles than ever.

The earth people is also growing fast, reaching eight billion in 2022 from only one billion in 1800.

The Intergovernmental Panel on Climate Change ( IPCC ) predicts that the situation will continue to get worse in the coming years because it is well known that human activities have a negative impact on climate dynamics.

We had better know the connections between rising population expansion and weather given the strong correlation between human populace and weather.

The rise in human population has been attributed to a combination of declining child deaths, extreme poverty, and an increase in life expectancy, among other things. In change, this has led to the increased use of tools, many of which are fixed.

Additionally, since 1990, people have been consuming a whole new aspect with modernization, which has taken on a whole new dimension for their well-being.

Whereas previously, large consumer spending was generally confined to Europe and America, already Middle East, East Asia and South Asia individuals also have great client spending, according to Statista.

Regions ‘ perceptions of population growth vary. Growing population growth can present drastically different challenges, depending on the country.

For example, increasing community rates are a result of rising environmental footprints in developed nations like Germany or Singapore compared to developing nations like Mozambique or Colombia. have more effects in developed nations than in developing nations.

The latest natural imprint of Germany is 4, according to the World Population Review. 70, whereas Mozambique’s is 0. 80, meaning European citizens have an ecological effects about six days higher than people in Mozambique.

However, increasing community can also be very helpful in some places. Increased delivery rates for populace growth are now essential for the sustainability of European society, especially in Italy, which is already known as the West’s fastest-shrinking nation.

Spiritual and/or historical factors can also affect whether someone has children or not. However, in some nations or religious views, having children is seen as very significant. For some, having a big family is socially well-regarded, and for others, it brings “rezeki/fortunes, ” as in the Muslim world.

Children play a significant role in sustainable societies despite the association between people growth and natural impact.

Our World in Data predicts that the population growth will stop at the end of the 21st centuries and maintain at about 10 %. 5 billion, so the earth people may never grow indefinitely.

Since fewer than two societies does have a community that will start to decline. 1 kids per woman ( population thresholds ), children are essential for sustainable societies.

Additionally, research shows that younger generations appear to be more aware of economic issues and conservation in general. With more children in the world today, having a “green labor” for the future will enable people to take action to combat climate change and improve cultures.

The effect of having kids on the planet is a multidimensional problem, influenced by factors such as demography, climate change, socio-economic position and cultural beliefs.

While reducing birth may seem like a solution to the environment issue, it overlooks the crucial role that children play in maintaining cultures.

Instead, the emphasis should be on achieving a balance between people growth and economic conservation, while fostering a culture of responsibility and creativity.

In the fight against climate change, youngsters have the potential to become good influencers. So, the key lies in finding homeostasis, where humanity and the world can coexist perfectly.

At Sustainable Development Solutions Network Southeast Asia, a non-profit institution established by the UN, are Israruddin, Moch Ridwan, and Alexandre Desmyttere, both, Manager, Assistant Manager, and Partnerships Intern.

Decarbonising energy in Southeast Asia: A bank and regulator’s perspective | FinanceAsia

By: Marcus Ching

On: April 23, 2024

In: Asia, Finance, South-East Asia

The need to connect the world energy system with the 1 is essential. 5°C purpose has never been more powerful. August 2023 marked the hottest month on record, surpassing even the document set in July 2023 by a substantial margin. The severity and frequency of climate change impacts are rising, highlighting the urgent need for activity.

According to the International Energy Agency ( “IEA” ), global carbon dioxide ( CO2 ) emissions from the energy sector reached a new record high of 37 billion tonnes ( Gt ) in 2022, 1 % above their pre-pandemic level, but are set to peak this decade.

Piyush Gupta, the CEO of DBS Bank, highlighted some of the important difficulties financial institutions are facing as they move to the energy market.

One important issue, according to Gupta, is the untested economy of many new technology. While some industries have fairly good systems solutions, others lack feasible options. Although hydrogen may hold promise, it is now too far beyond the reach of use. Even where there is systems, these innovative solutions ‘ cost points and economics frequently differ from those of fossil-based energy sources or different segments.

The economy are different when comparing the cost of solar production in regions with high thermal efficiency, like China or India, to those with cloud cover, like the tropic, according to Gupta. Elements such as the cost of land, which can be considerable for tasks requiring large places, and the costs associated with store, intermittency, and network upgrades further complicate the financial viability of projects.

In fact, some initiatives are not simple to finance based only on commercial viability.

Gupta was speaking at a screen debate at the Singapore state investment Temasek’s monthly sustainability-focused function, Ecosperity, from April 15 to 17.

The need for relevant infrastructure spending is the next problem identified by Gupta. While a job may be initiated, if the necessary investments in another system components, such as the network, are not made continuously, the site’s potential is compromised. Thus, it is crucial for a financial institution to take into account the wider communication and infrastructure requirements beyond the task itself in order to assess the viability of the investment.

The Asean nations ‘ risk prices, as discussed by Gupta, have an impact on project viability and prices. Foreign exchange threat and royal risk are included in these risk premiums. Some nations in the area are not regarded as investment-grade, which adds to the sovereign risk premium. Foreign trade risk is another important issue, as funding for these projects frequently is in US dollars while profits are generated in regional currency. Significant financial difficulties can be caused by this gap.

Finally, Gupta shared that project funding is influenced by the off-takers reliability, especially in the energy sector, where political considerations may affect payment reliability. Regime modifications can add another layer of complexity to venture financing by raising doubts about the off-taker’s commitment to completing its legal obligations. Together, these problems add to the difficulty and complexity of funding regional system jobs.

But, while difficulties exist, concerted efforts are underway to mitigate them, with continued growth of remedies aimed at overcoming these roadblocks.

Gupta, who spoke to FinanceAsia on the outside of the occasion, put forth one like solution, which he believes can have a significant influence on the sector’s journey to zero.

One of the most important components of a toolbox of solutions to climate change is establishing a reliable and open global graphite market. A strong global carbon market is a powerful tool for the personal sector to move money from developed to developing areas. This in turn has the potential to have a significant effect by enabling emerging markets to obtain funding for sustainable development tasks, which are required to speed up the transition to a low-carbon business. ”

According to Gupta, pursuing the implementation of cross-border and export industry also offers a considerable option. “These areas enable resource countries to develop capacity, size, and engineering without bearing the price, as other states purchase their authority, ” he noted.

To put this in perspective, the demand for coal funds could increase by 15 days or more by 2030 and up to 100 days by 2050. By 2030, the use and buying of carbon credits was reach$ 50 billion, subject to the successful implementation of the Article 6 code adopted at COP26.

Singapore’s online zero journey

Singapore has set a goal of achieving net zero emissions by 2050. Singapore aims to have net-zero emissions from this industry by the same deadline given that its energy sector accounts for 40 % of its emissions. By importing fresh power from the Asean area, the nation intends to accomplish this goal.

Ngiam Shih Chun, chief executive, of the Energy Market Authority ( EMA ) of Singapore, said that while “Singapore has limited renewable energy resources, the country can access low-carbon electricity that is abundant in the region by connecting to regional power grids. This also encourages the growth of solar energy in the area and opens the door for the Asean Power Grid vision to become a reality. ”

The country has the target set to import up to fourgigawatts ( GW ) of low-carbon electricity by 2035, making up around 30 % of Singapore’s electricity supply then. EMA granted contingent certifications to trade up to 4 in 2023. 2 GW of low-carbon energy from Cambodia, Indonesia, and Vietnam. Companies are now completing feasibility studies and obtaining regulatory approvals from transit and source nations.

The projects are physically and economically feasible, and the source nation and Singapore are working together in a beneficial way, Chun said.

As Singapore actions steps down from its energy sector, Chun mentioned that these jobs are also pioneering because cross-border power trading is now constrained in the area. Their large size is also something to keep in mind, for instance, a 1,000-kilometer high voltage direct current wire from Vietnam. They are thus facing regulatory problems.

But, once cleared, they are expected to accelerate the development of cross-border buying, according to Chun.

The Laos-Thailand-Malaysia-Singapore power project, for example, took years to negotiate but is now the first successful cross-border power trading initiative across four Southeast Asian ( SEA ) countries. To improve trading volume and make multi-directional trading more profitable, discussions are currently being conducted. This advancement is in line with the Asian power grid’s goal, which promotes cross-border trading and benefits various SEA nations.

A national hydrogen strategy, which outlines the potential pathways for gas to be adopted in the energy sector, which could account for up to 50 % of the power mix, is another initiative being taken in the nation. Recognising the price differential for innovative solutions, Singapore is seeking “Pathfinder projects”. As a part of this action, Singapore aims to work with the business to experiment with and build up abilities in superior gas technologies, and identify and address any professional, protection, or regulatory issues that may arise.

Chen said that the private sector and financial institutions are closely involved in this phased approach. Currently, the focus is on shortlisting consultants and conducting pre-field studies, with funding secured to support these initiatives. The goal of the approach is to address the cost disparities brought on by new technologies and ensure the project’s viability and bankability.

Matrade, Amazon Global Selling launched year-long collaboration to boost cross-border ecommerce capabilities

By: Mary Blight

On: April 23, 2024

In: Technology

Both functions will host events to raise cross-border e-commerce awareness
Aims to enable M’sian SMEs SMEs to expand on Amazon’s e-stores, increase worldwide

Matrade, Amazon Global Selling launched year-long collaboration to boost cross-border ecommerce capabilities

In response to the growing demand from Malaysian businesses, MADE ( Malaysia External Trade Development Corporation ) and Amazon Global Selling are collaborating more effectively to promote cross-border e-commerce in Malaysia. The two functions stated in a joint statement that they will work together to hold monthly outreach activities throughout 2024 to increase awareness of cross-border e-commerce and to assist Indonesian product owners starting their cross-border e-commerce firm with Amazon. They also intend to introduce more Malaysian brands and products to customers in the US.

In addition to increased website engagements with personalized training and content designed to help Malaysian sellers succeed on the world stage, they added that the 2024 activities will include offline events in Kuala Lumpur, Penang, and Johor Bahru, as well as in-person workshops offering valuable insights and guidance to empower native entrepreneurs.

The course contents, provided to Malaysian SMEs, will cover the end-to-end journey of an Amazon seller, including account registration, product preparation, compliance, listing, shipping, advertising, and more, they said.

The most recent findings from the Access Partnership report from 2023 indicate that Malaysia’s e-commerce export value is projected to increase annually by 14 %, reaching an estimated US$ 8. 6 billion ( RM36. 2 billion ) by 2027. This projection highlights Malaysian businesses’ enormous potential to expand beyond domestic borders. Matrade, Amazon Global Selling launched year-long collaboration to boost cross-border ecommerce capabilities

To introduce cross-border e-commerce to Malaysian SMEs,” We are pleased to embark on this strategic partnership with Amazon Global Selling,” said Mohd. Mustafa Abdul Aziz ( pic ), CEO at Matrade.

” Through this collaboration, we aim to equip Malaysian SMEs with the necessary knowledge and resources to expand their presence on Amazon’s e-stores and grow their brands internationally, ” he further emphasizes, “This initiative perfectly complements the MADANI Economy Framework, the National Trade Blueprint, and the recently unveiled New Industrial Master Plan 2030, all of which underscore digitalisation and cross-border e-commerce as fundamental catalysts in driving Malaysia’s economic growth and resilience. “

The promising projections for Malaysia’s e-commerce export sector, according to Anand Palit, head of Amazon Global Selling in Southeast Asia, “underline the great potential that exists for businesses in the region.” We are grateful for our year-long partnership with Matrade and look forward to supporting Malaysian brand owners as they begin their global sales journey. By leveraging Amazon Global Selling’s expertise and Amazon resources, and working closely with Matrade, we hope to empower Malaysian SMEs to tap into the opportunity of cross-border e-commerce, driving growth, and enabling local businesses on their journey towards international success. ”

Amazon’s Global infrastructure and resources to facilitate this go-global Journey

Amazon is continuously investing in logistics, tools, services, programmes, and people to foster the growth of sellers worldwide. The business has a global presence in 22 countries and is able to deliver goods to customers in more than 200 nations and territories. It has more than 400 fulfilment centers across the globe and through Amazon stores, sellers, including those from Malaysia, can directly reach over hundreds of millions of active customer accounts worldwide, including more than 200 million Prime customers overseas.

Take Amazon’s ( FBA ) Fulfillment as an example. It can help sellers increase their scale by assisting them with product selection and shipping while also providing customer service and returns. Nearly 2 million SMEs are currently selling on Amazon, and these paid-for third-party services made up more than 60 % of the paid-for total in the 2019 Q4 quarter.

dedicated team to promote global expansion and client reach

The new team based in Singapore is dedicated to introducing Amazon’s cutting-edge tools and resources to Malaysian sellers and guiding them on their journey to expanding internationally and reaching customers from all over the world. Amazon’s dedicated team will be proactively engaging with Malaysian entrepreneurs, manufacturers, and resellers, actively organising workshops, events, and conferences across Malaysia aimed at fostering market awareness and facilitating cross-border e-commerce initiatives.

Advancing cross-border e-commerce step for Malaysian SMEs

There are already Malaysian sellers who have benefited from this new opportunity, and one of them is Galano Furniture, according to Amazon.

Galano Furniture’s marketing director, Alisha Tan, stated,” Our journey with Amazon Global Selling has been nothing short of transformative. With a keen focus on excellence and innovation, we’ve developed a global business, forging direct connections with consumers internationally. We have chosen Fulfilled by Amazon ( FBA ), which has given us peace of mind regarding customer care and delivery to the last mile. Additionally, FBA consistently proves to be the optimal choice, particularly for newly launched items. In 2023, we saw remarkable business growth, with sales increasing from 5-digit USD to 6-digit USD. ”

Grade A office rents expected to rise slightly this year despite increased supply

By: Marcus Ching

On: April 23, 2024

In: South-East Asia

He added that frequently, the Singapore company market “has been very resilient and steady ” over the past few years.

More than 2 The Singapore company business will soon experience 4 million more advanced office space, with construction on tasks like the IOI Central Boulevard Towers and Labrador Towers set to begin this time.

Because there is still a lot of demand for Grade A office space, according to observers, this increased source is unlikely to cause book prices to rise.

Singapore, with its beneficial business environment, excellent management, and quick access to talent, remains a common location for businesses as a gateway to obtain the fast growing Southeast Asia market.

Despite the amount of source that is in, specifically for this year, I still have some optimism in the market, ” said Mr. Sim.

Singapore appears to be a pole for what we call success control, which is the cause. Additionally, Singapore seems to be more advantageous to the growth of Southeast Asia because businesses typically prefer to have Singapore as their regional ( headquarter ). ”

According to industry watchers, rents may be higher for more as demand declines after this year and increases until 2028.

Malaysia benefits from foreign firms moving their manufacturing facilities from China, amid trade war

By: Jing Write

On: April 22, 2024

In: Asia

STEADY INCREASE IN FOREIGN DIRECT INVESTMENT

Malaysian Prime Minister Anwar Ibrahim has also been on a beauty rude, travelling abroad to woo high-tech opportunities.

In March, he delivered a presentation handle at the annual SME Future Day 2024 in Berlin, where he gave an open invitation to European companies, as well as businesses across Europe, to invest in Malaysia.

“We are of training at your service, we may employ. When you need ( the ) China market, then you need an important base in Malaysia, ” Mr Anwar said during the event.

Since 2021, the country has seen a steady increase in foreign direct investment ( FDI) in the tech sector, with both Intel and fellow chip tycoon Infineon Technologies investing US$ 7 billion in projects that go beyond packaging, assembly, and testing.

Hungarian software giant AT& While American intel Nvidia and native conglomerate YTL are working together to create a multi-billion money artificial intelligence fog and supercomputer infrastructure in Malaysia, S produces high-end circuit boards.

NOT ENOUGH TO PROVIDE Income Bonuses

Given the fierce competition from neighboring Indonesia and Vietnam, Malaysia don’t simply implement tax incentives as it moves up the value network. Additionally, it is said to be dealing with restrictions in its native supply chains.

Former deputy minister of global trade and industry for Malaysia, Mr. Ong Kian Ming, said some businesses are struggling to find the right kind of competent and human resource to integrate into the habitat with higher value-added production or solutions.

We’ve seen instances of Taiwanese companies entering Malaysia in the past that do not totally connect with the regional supply chain, he noted.

“ What this means is that the local SMEs ( small- and medium-size enterprises ) in Malaysia and other companies, they are not able to benefit from the FDI coming into Malaysia. ”

The Indonesian government is also looking beyond its borders for opportunities to network with Indonesian businesses and investors, particularly government-linked purchase firms.

Mr Tengku Zafrul Abdul Aziz, Malaysia’s Minister of Investment, Trade and Industry, said the state is “institutionalising the procedure where we ask local businesses to also have a interest in the game”.

He most recently disclosed that the government is developing a proper semiconductor strategy to update existing laws and opportunity packages in order to stay competitive in the sector.

Mongolia seeks closer ties amid major power rivalry

By: Barkar Nash

On: April 21, 2024

In: South-East Asia

Mongolian Foreign Minister Battsetseg Batmunkh stated in an exclusive interview with Bangkok Post that the country hopes to develop stronger relationships with Thailand overall.

Ms Battsetseg, the second person to be appointed to the blog, is making an official attend to Thailand from now till next Wednesday.

In light of a slew of political difficulties, she described her life and career, how Mongolia is navigating problems, and how she sees strengthening ties with Thailand.

According to Ms. Battsetseg, she has always wanted to work as a minister. This led to her enrolling in the National University of Mongolia’s mentor program in international relationships.

After graduating, she established the” Mönkhyin üseg Group” and served as the head of its board of directors from 2007–2015. She continued to advise the finance secretary until 2016 in that capacity.

Before taking the position of foreign minister in January 2021, she served as the evil minister of international relations from 2016 to 2020.

” Over the years, I have gained experience working in diverse governmental agencies, [and ] holding different political jobs, many of which were closely tied to international relations and global teamwork,” she said.

Mongolia’s world watch

The country’s foreign policy was mapped out by the State Great Hural [Parliament ] of Mongolia in 2011 as it aimed to pursue a peace-oriented, open, independent and multi-pillared approach, Ms Battsetseg said.

With regard to other nations in the region, Ms. Battsetseg cited close relationships and socially beneficial cooperation with our two neighbors [ China and Russia], as well as maintaining a “balanced and good neighborly relationship with our two neighbors,” according to Ms. Battsetseg, who also mentioned close relationships and mutually beneficial cooperation with our second neighbors.

She stated that Mongolia is engaged in international politics and has diplomatic ties with all 192 UN member states, as well as the Holy See, the State of Palestine, and the European Union.

According to Ms. Battsetseg, Mongolia is committed to promoting peace and security both in the area and around the globe.

With its single-state nuclear-weapon-free area position, the government’s dedication to the non-proliferation of atomic weapons and achieving atomic peace has been extensively welcomed and supported by the global community, she said.

In 2013, the” Ulaanbaatar Dialogue on Northeast Asian Security” program was established to handle the region’s safety issues. This community has now evolved into a popular method for governments, international organisations and education to participate, exchange views and, most important, to find common ground for probable solutions.

” Last time, we hosted the 8th period of the Ulaanbaatar Dialogue. More than 180 members, representing 30 states and over a hundred companies, attended the event. The” UBD Youth Forum,” which encouraged young experts to meet the speech, was a recent addition to the meeting, Ms. Battsetseg noted.

She said that the UN peace activities are one of the crucial means of maintaining international peace and security.

In the two years that Mongolia has participated in UN peacekeeping, over 20,000 Peoples have served as “blue hats” in 11 peacekeeping missions in hot patches around the world.

” Now, we are the 19th-largest contribution to UN security. In the Northeast and Central Asian area, we are the second-largest army source after China,” Ms Battsetseg said.

The Mongolian administration’s agenda includes promoting gender equality and empowering women and girls, especially those who live in remote regions. These initiatives have been taken to an international levels.

She noted that Mongolia has organized a number of activities to help achieve these objectives, including a global conference on expanding the role of women in peace in June 2022 and the meeting of feminine foreign ministers in June 2023.

” For this year, Ulaanbaatar will host the World Women’s Forum on August 22–23. The website will focus on the importance of women’s autonomy, gender equality, and their involvement and leadership in addressing environment change-related issues and the realization of the SDGs,” she said, referring to the United Nation’s 17 Sustainable Development Goals.

50 years of P2P exchanges

Ms. Battsetseg claimed that their first encounter can be traced back to a meeting of their envoys in the 13th or 14th century, despite Thailand and Mongolia officially establishing ties on March 5, 1974.

Despite their geographical dispersion, she claimed, the two sides were able to lay a strong foundation for the growth of ties by finding common ground in Buddhism as well as some aspects of their respective cultures and traditions.

Both nations have seen progress and success in various cooperating areas since Mongolia’s democratic reforms started in 1990.

People-to-people exchanges climbed, highlighted by Her Royal Highness Princess Maha Chakri Sirindhorn’s visit to Mongolia in 1992 and a visit by the president of Mongolia, His Excellency Mr P O Chirbat, to Thailand in 1994.

” Many other high-level visits followed, adding momentum, enriching the scope of cooperation, and fostering friendly relations between our two countries,” Ms Battsetseg said.

Both sides have stopped issuing visas for ordinary passport holders since 2007 and introduced seasonal direct flights, which means that Mongolians are traveling to Thailand are increasing at the same time.

Thailand is also becoming a tourist destination for Mongolians, particularly medical travelers, according to Ms. Battsetseg.

In 2023 over 13,000 Mongolians travelled to Thailand, a notable increase from 8,000 the year before. Conversely, the number of Thai nationals visiting Mongolia in 2023 surpassed 2,000, marking a threefold rise from 2022.

Setting its sights on welcoming more global adventurers, Ulaanbaatar has declared 2023–2025 as” The Years to Visit Mongolia”, under the rallying call of” Welcome to Mongolia”.

The government eased the entry visa requirements for people visiting 30 countries and introduced an online visa application system that makes it simple for citizens to apply for visas in 99 countries, making the application process go smoothly.

This promotion has amplified Mongolia’s appeal as a top-tier destination, Ms Battsetseg said, and as of December 2023 the country has been witnessing a record influx of tourists.

Also, due to the country’s expanding network of air connections and enhanced road infrastructure, navigating the vast expanses of Mongolia has become more convenient.

We want to welcome more Thai visitors to our nation so they can experience the Mongolian people’s hospitality and natural beauty, according to Ms. Battsetseg.

Mutual trade and investment

Aside from the people-to-people connections, both sides are hoping to see more mutual trade and investment.

A body, according to Ms. Battsetseg, will foster regular dialogue and foster cross-sector collaboration. A framework that orients cooperation in high priority areas has also been created using a five-year work plan.

Additionally, she said, the two nations have established a Joint Trade Commission, which is essential for boosting trade and economic cooperation.

She continued,” It is crucial to maintain the momentum of our dynamic cooperation.”

The country is seeking to explore new areas of cooperation that align with Mongolia’s 2050 Vision and Thailand’s Vision 2030, she noted.

According to Ms. Battsetseg, agricultural research and development that strengthens both countries ‘ capacity for food production could be a new area of cooperation as Thailand strives to become a leading industrial hub.

She pointed out that Mongolia’s expertise in livestock farming could complement Thailand’s strengths in crop cultivation and processing.

Additionally, joint efforts to advance sustainable and organic farming practices could lead to new markets for agricultural products from both nations, particularly in those areas where organic food is increasingly in demand.

” Furthermore, we could cooperate in air cargo transportation, as our direct flights from Ulaanbaatar to Bangkok are scheduled to operate year-round starting from this year. Last year alone, 53,000 Mongolians travelled to Bangkok, Phuket and Pattaya, and Thailand was one of the top destinations for Mongolians,” she added.

On top of that, with the increasing demand for digital technology and innovation, Mongolia is keen to collaborate with Thailand in promoting digital innovation and entrepreneurship through exchange programmes, joint hackathons, and startup incubation initiatives.

Working in financial technology ( fintech ) could involve sharing expertise in blockchain technology and creating financial services that are specific to the needs of both countries, according to Ms. Battsetseg.

She said it is crucial to facilitate more interactions between Thai and Mongolian businesses.

According to Ms Battsetseg, strengthening ties between the two parties ‘ respective business communities will lead to greater mutual trade and investment.

This could involve organising more business forums, exchanging business delegations, attending Mongolia’s Economic Forum and the region’s largest food and beverage trade show, THAIFEX, or other trade shows and exhibitions, and engaging matchmaking events to connect potential partners and facilitate collaboration, she said.

At the same time,” MonGolia, Always Moving” was launched as this year’s tourism campaign.

According to Ms. Battsetseg, it demonstrates Mongolia’s investment prospects while preserving the country’s traditional nomadic culture from an economic standpoint.

It serves as an open invitation at the same time as a platform for expanding tourism and attracting more investment.

We also anticipate working toward the final drafts of the pending intergovernmental agreements and treaties to enhance the legal environment. Looking ahead, I am confident that the future of Mongolia-Thailand relations is even brighter. ” Ms Battsetseg said.

Regional partners

Amid a series of ongoing global challenges, Ms Battsetseg said Mongolia recognises the importance of solidarity, interconnectedness, cooperation and multilateralism.

Thailand and Mongolia are both committed to strengthening bilateral cooperation as well as to co-operating at multilateral forums to discuss issues of common concern, she continued.

Since the 1990s, Mongolia has pursued a multi-pillar and open foreign policy, actively seeking to integrate into the Asia-Pacific region.

In 2005, Ulaanbaatar ratified the Treaty of Amity and Cooperation in Southeast Asia, acknowledging the significance of Asean’s contribution to regional integration.

Ms. Battsetseg stated that it intends to actively participate in Asean and its subsidiary organizations ‘ activities going forward.

Thailand is Mongolia’s third-largest trade partner in Southeast Asia.

I want to share a quote from King Rama IX’s speech as we pause to remember the historic milestone,” Ms. Battsetseg said.

“‘Friendship between nations is important, but what is more important is people-to-people relations, which can guarantee peace and progress’. “

” I firmly believe in the significance of this statement, as it highlights the crucial role of cultivating connections between people as the foundation of achieving lasting peace and progress,” Ms. Battsetseg continued.

I’m confident that our relationship will continue to grow, and I look forward to working closely with my Thai counterparts to improve our relationship for the benefit of our respective nations and people. “

MYStartup accelerator picks 25 startups for Cohort 3 with USk funding and grants up to US9k available

MYStartup accelerator picks 25 startups for Cohort 3 with US$52k funding and grants up to US$209k available

By: Mary Blight

On: April 19, 2024

In: Technology

4-month program designed to promote growth and innovation
Increasing Malaysian companies ‘ chances of becoming global leaders in the future

The chosen 25 startups with Cradle execs.

MYStartup, in partnership with NEXEA, a venture funds and company pedal company, has launched its second accelerator program where over 900 programs were received with a 60 percent, ensuring the final choice with 25 appealing tech companies chosen to be onboarded comprising four main industries: artificial intelligence, machine learning, care, and application development.

[Ed: Para updated for reliability. The number of uses received was omitted in an earlier type. ]

The top 25 startups may be subject to a four-month enrichment program, according to MYStartup, designed to promote innovation and develop significant changes in Malaysia’s startup ecosystem.

The preceding cohort saw some startups securing up to US$ 146,400 ( RM700,000 ) worth of investments within the past six months. These companies, which include Parkit, Engagelife, iJalan and EB Tech, even achieved an consolidated full assessment of 290 %, growing from US$ 2. 3 million to US$ 6. 7 million ( RM11 million to RM32 million ) over the same period.

MYStartup accelerator picks 25 startups for Cohort 3 with US$52k funding and grants up to US$209k available Norman Matthieu Vanhaecke ( pic ), Group CEO of Cradle, said, “Startups are one of the fundamental building blocks in Malaysia’s economic development. Based on the Global Startup Ecosystem Report ( GSER ) report in 2023, Malaysia’s startup ecosystem was estimated to be worth US$ 4. 6 billion. At Cradle, we recognise the important need to develop a great performing, diverse, globalised, and green startup ecosystem in the country to enable these ventures for regional and global expansion. ”

Additionally, Normanan noted that Cradle’s objectives extend far beyond economic, with intensive mentorships and extensive resources, as the primary agency promoting the creation and growth of upcoming leading Malaysian tech companies. Through these initiatives, we hope to give our startups the necessary exposure and support to expand their businesses, thereby promoting Indonesian startups as potential future foreign leaders. ”

The MYStartup Accelerator programme is designed for scalable and technology-driven startups, either in the revenue-generating stage or with a minimum viable product ( MVP ). To day, the MYStartup Accelerator has effectively empowered 58 companies, across two groups. ” The next two groups of MYStartup Accelerator, guided by our investor-mentors and Cradle’s assistance, have on ordinary doubled their progress year-on-year. 25 of the 940 applications accepted this year will compete to become the best finalists and receive first funding of RM250,000 with offers up to RM1 million. Along with Cradle, we look forward to creating a bigger effect, accelerating their development and, finally, cultivating an equitable and sustainable business ecosystem in the country, ” said Ben Lim, founder and CEO of Nexea.

Eeyong Ho, chairman of Otter Barista, one of the 25 selected companies said,” Otter Barista aims to bring value espresso closer to you, making your experience more smooth and easy. With our superior robotics, consumers you easily connect with the system to place orders, and the machine handles the end-to-end process of newly brewing beverages, all at a lower cost. We are looking forward to taking part in this throttle program, particularly the one-on-one training sessions with our leader mentors and investors. Through the tutoring and designated seminars, we aim to better reinforce our company’s ideals and business unit, accelerating our progress across Malaysia. “

The 25 companies that were chosen for the MYStartup Accelerator Programme Cohort 3 are:

Otter Barista, an automated mechanical coffee brewing encounter with high-quality and new recipes.
Ollie & Hana, the largest dog grooming and hotel board professional.
ALT Synergy, a proper application of biology to increase product performance.
WeAssist, mobile applications developer focusing on connecting people to healthcare services.
Messengerco, a one-stop platform for corporate gifting.
EasyRenz, an automated & smart tenant management solution.
a mother who specializes in maternity and baby products with a focus on breastfeeding support.
Resitku is a taxation solution as well as an application for expense receipts and income records.
Dreamory, an all-in-one business event platform.
Heycast. me, a casting platform for entertainment industry.
Property Lab, AI-driven platform for precise property investment insights.
DeepLogi, a smart shipping gateway for small and medium-sized business.
A safety application called Siriren Networks connects users on a platform with emergency and care service providers.
Axtraction AI, B2B document AI Software as a Service ( SaaS ).
Quasa. ai, provides regulatory and compliance tech solutions to businesses.
Infinitlab, a modular SaaS ERP solution empowered by an AI-ready framework for seamless and efficient business management.
Choladeck, A web app that creates customized, brand-aligned presentations and offers insights on audience engagement.

PM touts plan to build world’s tallest tower

By: Barkar Nash

On: April 19, 2024

In: South-East Asia

Setha speaks with investors in Bangkok about a mixed-use proposal with investors from the Middle East and China.

PUBLISHED: 19 Apr 2024 at 17 :59

According to Prime Minister Srettha Thavisin, a group of traders led by a Dubai-based real estate developer is in talks to construct a mixed-use building in Thailand that might compete for the title of the world’s tallest building.

Mr. Srettha met with a group of Middle Eastern and Chinese businesses, including Vatone Group, Broad Group, and Emaar Group, and discussed plans to “build the world’s tallest building in Thailand, ” he said in a blog on X on Friday.

Emaar is best known for building Burj Khalifa in Dubai, now the country’s tallest building at 828 feet.

The 70-store Magnolias Waterfront Residences Iconsiam in Bangkok, measuring 318 meters, is Thailand’s tallest structure.

Emaar founder Mohamed Alabbar stated that a group of investors, including him personally, may develop the Thai job rather than the publicly traded company. The deals are in earlier stages for “a super-tall tower”, he said.

According to Mr. Srettha, who headed the estate developer Sansiri Plc before entering elections last year, the initiative in Thailand do include a sizable department store, workplaces, a economic hub, a resort, and an entertainment center.

Mr. Srettha’s Pheu Thai government is also looking into the construction of casino-themed leisure structures.

According to Mr. Srettha,” It will generate significant funding benefit and draw tourists,” adding that the investors may examine the situation and come up with an investment strategy in the future.

Promoting private sector assets is essential to boosting the nation’s economy and generating revenue for the populace. ”

The group is interested in setting up the “megaproject” in Bangkok, said state official Chai Wacharonke.

The prime minister reportedly pushed them to construct a castle that is even taller than the one in Dubai. They did n’t reject the idea, ” he told Bloomberg.

Since taking office in September, Mr Srettha has fashioned himself as Thailand’s key “salesman”, courting large companies and prospective buyers to get foreign direct investment into Southeast Asia’s second-largest sector, which has lagged behind local classmates.

The prime minister has met with senior executives from more than 60 businesses and is asking for foreign investments in high-value sectors to lower Thailand’s growth rate from an average of 2 % in the last ten years.

According to Mr. Srettha, the tower project could turn into a “man-made tourist destination” that will encourage more visitors to Thailand, whose vital tourism sector accounts for 12 % of GDP.

As a result of its visa-freezing programs and simpler travel regulations, Thailand has seen a more than 40 % increase in foreign visitor arrivals this year, reaching 11 million. This year, the country aims to welcome 35 million to 40 million foreign tourists, close to the pre-pandemic record of 40 million visitors in 2019.

The founder of Emaar, which built Burj Khalifa ( above ), the world’s tallest tower, is part of a group of prospective investors looking at the prospects for “a super-tall tower ” in Thailand. ( Photo: Reuters ).

Food fight: Russia’s ‘grain diplomacy’ reshaping global markets – Asia Times

By: Bolen C

On: April 18, 2024

In: Asia

The European Union continues to be concerned by Russian President Vladimir Putin’s “grain politics,” which may turn the world’s trade patterns and areas in its favor.

In order to deter the present level of EU goods, the Western Commission has recently suggested increasing taxes on some Russian and Belarusian agricultural products, including cereals and soybeans.

International grain prices soared soon after Russia’s war of Ukraine, though they afterwards declined after the A Black Sea corn offer was broken in 2022.

The agreement, which allowed Ukraine to export corn from Black Sea ships that had formerly been blocked by Russia’s army, was renewed half before ending. suspended next month.

Since then, Ukraine has resumed exporting corn, and Russian wheat exports have reached record highs. Nitrogen shipments have even recovered.

Russia recorded a US$ 13. Energy and grain exports contributed to a 4 billion current account surplus in March, which was more than twice the$ 5 million that was available in February. 5 billion and the second-highest deficit since March 2007.

By the end of February, entire EU exports of corn and oilseed in 2023/2024 from Russia stood at 1. 8 million kilograms, in comparison to 19. 1 million tonnes from Ukraine, according to Western Commission information.

However, conversations about extending the expulsion of trade duties outrage of some German producers has been raised by lower prices on Russian agricultural exports in Europe until June 2025.

Especially in Central and Eastern Europe, where critics claim that Ukraine goods that have been subject to placed import duties and other restrictions have created unfair competition.

Recent actions by EU nations have included appointing new restrictions on Russian agricultural imports. Food imports contribute more than 40 % of Ukraine’s trade revenue and 60 % of all imports, making the shipping a crucial revenue source.

As such, fresh EU trade regulations will actually adversely affect Ukraine’s already beleaguered war-time business, and by extension, likely bag its ability to sustain fighting against Russia.

It remains to be seen how directly and indirectly the Global South will be impacted by the new International tariffs, even though the transport of Ukrainian grain through the union to other nations will still be permitted to break Russian sea blocksades.

A ship carrying the Black Sea Grain Initiative is at water. Image: UNCTAD

The other major importing countries are Africa and Asia, two two extremely food-insecure regions, aside from the EU.

Between 2018 and 2020, Africa imported $ 3. 7 billion in wheat ( 32 % of total African wheat imports ) from Russia and US$ 1. 4 billion from Ukraine ( 12 % of total African wheat imports ).

A 2022 report from the United Nations identified 36 states reliant on Russia and Ukraine for more than 50 % of their wheat exports, including some of the world’s most resilient economies like war-torn Syria and Somalia.

Putin has made a critical point about the fact that under the Black Sea Grain Initiative, Europe was the largest supplier of Ukrainian corn, as opposed to the world’s regions and nations in desperate need of the items.

The Soviet leader has even condemned the West for not taking steps to give Soviet agricultural items and nitrogen products equitable access to world markets.

The weaponization of meal supplies is key to Russia’s war approach, with Moscow then seeking to exchange Russian food supplies in reduced- and lower-middle-income countries with Russian-grown alternatives.

This approach enables Russia to project power while exerting influence on global food trade dynamics, including over supplies, availability, access and prices.

Russia has a significant influence over global grain markets and, more broadly speaking, on the dynamics of agricultural trade. It is the world’s top wheat exporter, which accounts for nearly 25 % of the global grain trade.

Turkey, Bangladesh and fellow BRICS members Egypt and Saudi Arabia are among Russia’s biggest buyers. ( The BRICS bloc comprises Brazil, Russia, India, China, South Africa, Egypt, Ethiopia, Iran and the United Arab Emirates. )

Putin recently endorsed the establishment of a BRICS grain exchange, which is a significant step that has the potential to transform global agricultural markets.

The move attempts to compete with the country’s current, Western-dominated grain pricing system, which could also pose a new challenge to the US dollar’s position as the world’s top trading currency.

Some of the biggest grain exporters and buyers in the world would be a part of the proposed BRICS grain exchange.

More than 1 percent of the expanding bloc now belongs to the four new members who were elected in January. 1.4 % of the world’s total grain production, and 1.24 billion tonnes. 23 billion tonnes of global grain consumption.

In light of rising global supply chain disruptions and growing food insecurity, a BRICS grain exchange could strengthen Moscow’s geo-economic influence and diplomatic leverage over participating nations.

Through stronger agricultural and trade ties with Russia, this could increase geopolitical and geostrategic alignment between the participating countries.

The influence of Putin’s “grain diplomacy ” is already apparent in Africa.

In February, Russian Agriculture Minister Dmitry Patrushev said that Moscow had completed an initiative to ship 200,000 metric tonnes of free grain to six African countries, namely Somalia, Central African Republic, Mali, Burkina Faso, Zimbabwe, and Eritrea.

Russia’s expanding presence and influence on the continent is highlighted by the grain diplomacy initiative. A Russian military base is being sought by the Central African Republic; and has received Russian weapons, security expertise and training.

Meanwhile, in Burkina Faso, where Moscow has recently opened an embassy, the country has seen the arrival of Russian troops, the first deployment of the so-called Africa Corps, an armed Russian force designed to replace the now-disbanded Wagner Group’s mercenaries in Africa.

A BRICS grain exchange, in addition to the emerging economic bloc’s collective strength, would increase competition to find alternative markets for their goods for traditional grain exporting nations like the US and Australia.

In the face of competition from less expensive Russian grain, US and Australian exporters could soon face new difficulties in negotiating favorable trade terms and maintaining market shares.

The Global South is increasingly viewed as a meeting point for the BRICS. Image: Twitter Screengrab

US and Australian governments may also need to reevaluate their broad agricultural policies and begin looking for alternative markets to offset the impact of potential disruptions brought on by a Russia-led BRICS grain exchange.

For instance, Canberra may seek stronger ties with nearby Southeast Asia, as emphasized by the Albanese government’s Southeast Asia Economic Strategy to 2040.

For traditional exporting countries like the US and Australia, the need is rising to reevaluate trade policies and geo-economic strategies in a world that might eventually develop into competitive grain blocs. However, grain trade disagreements continue to stoke the seeds of dissention in Europe and beyond.

Genevieve Donnellon-May is a Research Associate at the Asia Society Policy Institute, Melbourne, Australia.

Southeast Asia (Page 54)

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