Informative webinar on Current Japanese Economy Status and Business Opportunities held on 23 May 2025

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) and Japan Chamber of Commerce and Industry (JCCI) held a webinar on “Current Japanese Economy Status and Business Opportunities” on 23 May 2025.

Moderated by Dr. Darson Chiu, CACCI Director General, the 60-minute webinar featured Mr. Kengo Nakayama, Senior Economist, Corporate Planning Division, Economic Research Office at MUFG Bank, Ltd., and Mr. Takeo Nakajima, Director-General, Innovation Department at Japan External Trade Organization (JETRO).

Mr. Peter McMullin AM, CACCI President delivered the Opening Remarks of the session, followed by Mr. Tetsuya Matsuoka, Deputy General Manager, International Division at Japan/ Tokyo Chamber of Commerce and Industry (JCCI/ TCCI) who delivered the Welcome Remarks.

Summary

Mr. McMullin warmly welcomed participants from across the region during his Opening Remarks. He highlighted CACCI’s representation of 27 countries in the Asia-Pacific and emphasized Japan’s significant role within this network.

Mr. McMullin underscored CACCI’s current strategic priorities—sustainability, entrepreneurship, and trade—collectively termed the “SET Agenda.” He noted that these themes are central to CACCI’s efforts to foster regional cooperation and economic development.

He closed his remarks with enthusiasm for the webinar’s content and the potential for it to deepen connections and collaboration among regional stakeholders.

In his Welcome Remarks, Mr. Matsuoka addressed the complex global economic environment, citing key challenges such as geopolitical risks, inflation, protectionist trade policies, and supply chain shifts.

He emphasized that although Japan’s economy is gradually improving, uncertainty remains—particularly due to unpredictable international trade dynamics. Nevertheless, he noted a strong uptick in foreign direct investment (FDI), which reached a record ¥50.5 trillion (approx. US$350.6 billion) by the end of 2023, with strong interest in manufacturing, green technology, and startups.

Mr. Matsuoka highlighted Japan’s transformation from a passive investment destination into a proactive partner for economic growth. He mentioned the Japanese government’s goal to double FDI to ¥100 trillion by 2030 and emphasized Japan’s tourism boom, with record-breaking visitor numbers in 2024.

In his presentation, Mr. Nakayama provided a detailed overview of Japan’s economic recovery and outlook.

As of early 2025, Japan’s real GDP grew by 1.6% year-on-year—an encouraging figure compared to its potential growth rate of below 1%. However, concerns loom over the rest of the year, particularly due to external risks like rising U.S. tariffs, which are expected to negatively affect exports, especially in key sectors such as automotive manufacturing.

MUFG forecasts a slowdown in GDP growth to 0.8% for the full year 2025, largely due to weakening external demand and declining capital investment.

Mr. Nakayama also analyzed internal structural challenges. On the demand side, Japan’s recovery has been driven mainly by exports, with personal consumption and private investment remaining subdued. Consumer sentiment is constrained by inflation—driven by food, energy, and a weak yen—despite wage growth.

On the supply side, labor shortages persist, caused by demographic shifts and a decline in labor force participation, especially among older workers. In addition, working hours have declined due to labor reforms and mandatory leave, which, while improving work-life balance, have limited labor supply growth.

Looking ahead, Mr. Nakayama emphasized that Japan faces two major headwinds: prolonged inflation and disruptive U.S. trade policies. Inflation remains above the Bank of Japan’s 2% target but is driven by volatile items like food and energy, with structural challenges limiting broad-based price increases. Moreover, global volatility caused by aggressive U.S. tariff policies—especially under a potential second Trump administration—could suppress Japanese exports and capital investment further. Nonetheless, positive signs include rising wages and nominal GDP growth. If these trends solidify, they could help shift Japan into a more sustainable growth phase.

 Key Takeaways:

• GDP Outlook Weakened: Despite a 1.6% growth in early 2025, MUFG forecasts Japan’s real GDP growth will slow to 0.8% due to declining exports and external policy uncertainties.
• Labor & Consumption Challenges: Persistent labor shortages and subdued personal consumption hinder recovery, with inflation and demographic shifts straining supply and demand.
• External Risks Intensifying: U.S. tariff policy and global economic uncertainty pose significant downside risks to Japan’s export-led economy and investment outlook.

For his part, Mr. Nakajima provided a Comprehensive overview of Japan’s growing attractiveness as a destination for FDIs, particularly in the context of innovation.

Emphasizing JETRO’s role in connecting Japanese and global economies, Mr. Nakajima detailed how Japan has evolved into a proactive and open partner for foreign investors. The agency’s four strategic pillars—innovation, overseas expansion of Japanese companies, promotion of agricultural exports, and economic research—support an integrated approach to global economic engagement.

Mr. Nakajima pointed out that Japan’s FDI stock has more than doubled in the past decade, with a notable increase in investment from Asia, driven by sectors like semiconductors, life sciences, and green tech. He explained that Japan’s large and wealthy consumer base, reliable infrastructure, and geopolitical stability make it an attractive alternative in a turbulent global landscape.

He also addressed challenges such as labor shortages but underscored the country’s consistent corporate profitability and its rise in global FDI confidence rankings, now fourth globally and first in Asia according to the 2025 Kearney Index.

JETRO supports foreign companies not only in establishing operations in Japan but also in forging business partnerships and entering collaborative innovation ecosystems. Mr. Nakajima highlighted recent success stories across Japan’s regional industry clusters, from Hokkaido to Kyushu, and emphasized JETRO’s ability to provide tailored support through its domestic and international offices.

He concluded by inviting interested parties to connect with JETRO for customized assistance in entering the Japanese market.

 Key Highlights:

• Japan’s FDI stock has grown from ¥23.8 trillion in 2014 to ¥53.8 trillion in 2023, with Asian investors accounting for a growing share.
• Foreign investors cite Japan’s market size, stability, and advanced infrastructure as key advantages.
• JETRO offers hands-on support for foreign firms, including matchmaking, local introductions, and regional investment facilitation across Japan.

The Panel Discussion, explored Japan’s evolving role in global investment and its economic resilience amid geopolitical challenges. Mr.  Nakajima emphasized that Japan’s rise in inward foreign direct investment (FDI) is not due to any single policy shift but the result of global companies seeking a stable and reliable economic base.

He attributed Japan’s appeal to its political and financial stability, affordable operating costs due in part to a weaker yen, and its strong existing ties with Asian economies. These factors have made Japan an increasingly attractive destination for investors from Asia and beyond.

In discussing the challenges to further boosting FDI, Mr. Nakajima identified Japan’s ongoing labor shortage as a major obstacle. He noted that foreign investors often find it difficult to scale operations due to insufficient local workforce availability. While Japan presents opportunities for skilled foreign professionals—especially in high-demand areas like AI, quantum computing, and autonomous vehicle technology—it does not currently offer generous incentive schemes compared to regional competitors like Vietnam.

This lack of incentives, combined with labor constraints, limits Japan’s competitiveness in attracting large-scale foreign projects.

The conversation also highlighted Japan’s need for greater international collaboration to address talent shortages and accelerate technological transformation. Mr. Nakajima encouraged skilled professionals from Asia, particularly those with engineering and advanced tech expertise, to consider Japan as a viable destination for work and innovation.

The panel underscored Japan’s dual approach: leveraging its strong global connections and economic stability to draw FDI, while gradually opening to foreign talent to address demographic and technological challenges.

Taking this opportunity, I would like to once again extend mysincere appreciation to Mr. Nakayama, and Mr. Nakajima for their very comprehensive and excellent presentations regarding Japan’s business and encouraged CACCI members and friends to maintain their engagement in CACCI activities.

The presentation files can be downloaded HERE.

Due to privacy considerations, the video recording of this webinar is not available for public viewing at the CACCI Youtube channel.

2025 VCCI and CACCI hold successful Advanced Seminar on International Trade in Hanoi and Ho Chi Ming City

Vietnam Chamber of Commerce and Industry (VCCI) organized a two-day seminar on “Advanced Seminar on International Sales Contract, Payment and Security Tools in Foreign Trade 2025, ESG, Compliance” in cooperation with CACCI on 13-14 May 2025 in Hanoi and on 15–16 May 2025 in Ho Chi Minh City.

The well-attended training sessions were conducted by Pavel Andrle, an international trainer and consultant, long-time member of ICC Banking Commission and Commission on Commercial Law and Practice,  in conjunction with local Vietnamese lecturers.

DAY ONE

Mr. Andrle started the session by explaining the key conditions of international contract of sale, i.e. delivery conditions and payment conditions. He described the risks from the exporter´s and importer´s perspectives and importance of proper use of Incoterms 2020 and specification of relevant documentation. The discussion that followed on force majeure and hardship events in international trade was very relevant in the context of the current rise of geopolitical risks and trade wars. ICC model force majeure and hardship clauses were then presented and further elaborated.

The second lecture of the day was devoted to the payment terms of international contracts, above all from the exporter´s point of view. Use of documentary collections and documentary credits was explained with emphasis on practical aspects, risks involved, main problems and how to avoid them. The lecturer used many examples and case studies to demonstrate the importance of proper conditions in the underlying contracts and then in documentary collections and documentary credits themselves. Incorrect and conflicting delivery terms, improper choice and specification of requested documents and conditions in documentary credits often lead to delays, increase of costs and sometimes even to refusals of payment.

Participants of the VCCI course in Hanoi

Contract parties often agree on open account payment terms, i.e. payment after delivery. This arrangement is also true for the most of exports from Vietnam. However, exporters frequently experience payment delays and sometimes even payment defaults. Participants were very interested in various mitigation options, for instance use of payment security instruments such as payment demand guarantees or standby letters of credit. Considerable time was also devoted to trade (credit) insurance and receivable finance such as factoring, invoice discounting and other forms of supply chain finance.

DAY TWO

Mr. Andrle informed participants about the recent developments in the area of digitalization of trade finance, above all increasing use of electronic bills of lading and the relevant impactful UN Model law on electronic transferable records. ESG trends and (EU) regulation have significant impact on international supply chains. Vietnamese exporters to EU and other markets need to be fully aware about the current and incoming requirements of their buyers to remain competitive. The lecturer also briefly familiarized the participants with practices of banks in the area of compliance (AML, KYC, sanctions, etc.) and touched on sanction clauses which often appear in documentary credits and bank guarantees.

Participants of the VCCI course in Ho Chi Minh City

Invitation to ASEAN Conference & ASEANext Forum on 2-3 July 2025 in Singapore

CACCI is pleased to share with its members, on behalf of the Young Business Leaders Network (YBLN), the invitation to attend the ASEAN Conference and ASEANext Forum, taking place on July 2-3, 2025 in Singapore.

This high-level regional gathering will bring together government representatives, business leaders, and entrepreneurs from across ASEAN for a series of dialogues, networking sessions, and market-focused discussions.

Key highlights include:

July 1 – Welcome Drinks and Dinner at Singapore Flyer Lounge
July 2 – ASEANext Forum
July 3 – ASEAN Conference: Featuring Ministerial Dialogue, Plenary Panels, Market Breakout Tracks, and Business Matching
July 4 – City Tour

For logistics or accommodation queries, please contact the YBLN Secretariat at:

Theodore Khng – Theodore.khng@gmail.com
Koh Xizo Le – xiaole.koh@sbf.org.sg
Edward Tan – Edward.Tan@sbf.org.sg

Webinar on Current Japanese Economy Status and Business Opportunities on 23 May 2025

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) is inviting members and friends to participate in the webinar on “Current Japanese Economy Status and Business Opportunities” to be held on 23 May 2025 at 2PM Taipei time.

Jointly organized by the Japan Chamber of Commerce and Industry (JCCI) and CACCI, the 60-minute webinar features two distinguished experts, Mr. Kengo Nakayama, Senior Economist, Corporate Planning Division, Economic Research Office at MUFG Bank, Ltd., and Mr. Takeo Nakajima, Director-General, Innovation Department at Japan External Trade Organization (JETRO).

The session will start with the Opening Remarks by Mr. Peter McMullin AM, CACCI President, followed by the Welcome Remarks by Mr. Tetsuya Matsuoka, Deputy General Manager, International Division at Japan/ Tokyo Chamber of Commerce and Industry (JCCI/ TCCI)

Mr. Nakayama and Mr. Nakaijima will then proceed to explain the current state of the Japanese economy and its investment opportunities. The Q&A section will be moderated by Dr. Darson Chiu, CACCI Director General.

AGENDA

2:00PM Opening Remarks by Peter McMullin AM, CACCI President.
2:05PM Welcome Remarks by Mr. Tetsuya Matsuoka, Deputy General Manager, International Division at Japan/ Tokyo Chamber of Commerce and Industry (JCCI/ TCCI).
2:10PM Overview of the current state of Japan economy by Mr. Kengo Nakayama, Sr. Economist, Corporate Planning Division, Economic Research Office, MUFG Bank, Ltd.
2:25PM Investment Opportunities in Japan by Mr. Takeo Nakajima, Director-General, Innovation Department, Japan External Trade Organization (JETRO).
2:45PM Q&A with Mr. Kengo Nakayama and Mr. Takeo Nakajima, moderated by Dr. Darson Chiu, CACCI Director-General.
3:00PM Closing Remarks.

We encourage and welcome business leaders, investors and bankers to join the webinar to gain insights into the business opportunities and investment prospects in the Japanese market.

To join the webinar, please register HERE

Invitation to FICCI LEADS 202

CACCI is pleased to invite its members to attend the 4^th Edition of FICCI LEADS being organized by the Federation of Indian Chambers of Commerce and Industry (FICCI) on 10-11 September 2025 in New Delhi, India, with CACCI as Partner Organization.

Carrying the theme “Collaborations for Growth in a Transformative World”, FICCI LEADS 2025 will bring together thought leaders, policymakers, industry experts, change-makers from across the globe to discuss innovative solutions and strategic partnerships that can drive sustainable growth in today’s rapidly evolving landscape. The promotional flyer on the event can be downloaded HERE.

As Partner Organization, CACCI will enjoy complimentary registration of its members attending the event.

Given the timeliness and relevance of the issues to be covered by the event and the special benefits offered by FICCI, CACCI encourages its members to join his year’s FICCI LEADS 2025.

If you have further questions, please do let me know, or contact leads@ficc.com

Become a sponsors of the 39th CACCI Conference in Colombo

CACCI is inviting members and friends to the 39th CACCI Conference, taking place on November 10-11, 2025, in the vibrant city of Colombo, Sri Lanka.

Hosted by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL), this annual event will bring together top business leaders, policymakers, and entrepreneurs from across the Asia-Pacific region for two days of high-level dialogue, valuable networking, and powerful collaboration.

This year’s Conference promises a dynamic program of thought-provoking sessions, an engaging exhibition, and special networking events designed to foster connections and inspire innovation.

In addition to participating, we are pleased to offer you the opportunity to showcase your leadership and strengthen your visibility by joining us as a sponsor.

As a sponsor, you’ll enjoy exclusive benefits such as:

• Speaking opportunities during conference sessions;
• Complimentary registrations and hotel accommodations;
• Premium branding in event materials, online platforms, and on-site displays;
• Booth space at the conference expo; and
• VIP access and special recognition during the event.

CACCI has designed a range of sponsorship packages to suit your goals, from Platinum to Bronze tiers, each offering meaningful value and visibility. Full details are outlined in the attached sponsorship brochure. Download package HERE.

This is more than a conference—it’s your opportunity to connect with regional leaders, spotlight your organization, and contribute to shaping the future of business in Asia-Pacific.

We encourage you to confirm your interest as early as possible to maximize your exposure and secure the full range of sponsorship benefits as presented below.

For questions or to express your intent to sponsor or attend, please contact us at cacci@cacci.biz.

YEGAP Chairman Hiromi Aoki Appointed Vice Chairman for International Affairs of Japan YEG

CACCI is proud to announce that Hiromi Aoki, Chairman of Young Entrepreneurs Group of Asia-Pacific (YEGAP)—the young entrepreneurs arm of CACCI—has been appointed Vice Chairman for International Affairs of Japan YEG for the 2025–2026 term.

Japan YEG is the largest network of young entrepreneurs in Japan, with more than 32,000 members across the country. Each year, four Vice Chairmen are appointed to oversee major divisions: East District, Central District, West District, and International Affairs. Hiromi’s appointment recognizes his exceptional dedication to strengthening international cooperation and advancing opportunities for young entrepreneurs worldwide.

In his new role, Hiromi will lead Japan YEG’s international outreach, enhance collaboration with global organizations, and play a key role in fostering regional and global partnerships among the next generation of business leaders.

CACCI congratulates Hiromi on this significant achievement and looks forward to supporting him as he continues to build stronger connections for young entrepreneurs in the Asia-Pacific region and beyond.

ADB webinar on Asian Development on 9 April 2025

ABA invites you to join the 93rd Asian Impact webinar on 9 April 2025, Wednesday, 2:00-3:00 PM, Manila time, Asian Impact Webinar: Asian Development Outlook April 2025 Launch. Developing Asia’s growth has been solid, but significant risks lie ahead. Trade uncertainty is at an all-time high, and geopolitical tensions are escalating. Can the region overcome these challenges?

Please register at https://asianimpact.adb.org  You will receive a confirmation email containing the webinar link and password once you have successfully registered.

To view the past webinars, please visit the Asian Impact Webinar page and our Youtube playlist

ABA encourages you to share this invitation.

Webinar on Pakistan’s Business Opportunities on 18 April 2025

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) is inviting members and friends to participate in the webinar on “Pakistan’s Business Opportunities” to be held on 18 April 2025 at 2PM Taipei time / 11AM Pakistan time.

Jointly organized by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and CACCI, the 60-minute webinar features Mr. Atif Ikram Sheikh, current President of FPCCI and Chief Executive of the Mujahid Group of Industries.

Mr. Atif Ikram Sheik will explain the current economic environment in Pakistan and the business and investment opportunities the country offers.

We encourage business people, investors and bankers to join the webinar to gain insights into the business opportunities and investment prospects in the Pakistan market.

Agenda

2:00PM Opening Remarks by Moderator (To be advised)

2:03PM Welcome Address by Mr. Atif Ikram Sheikh, FPCCI President

2:05PM Presentation by Mr. Atif Ikram Sheikh, FPCCI President:

• Economic and Business Environment of Pakistan including trade and investment potentials
• Introduction of Investment Facilitation Organizations of Pakistan.
• FPCCI activities and best practices in chamber management and its international affiliations and networking

2:35PM Video showing on Investment climate in Pakistan.

2:40PM Q&A.

3:00PM Closing Remarks.

 To join the webinar, please register HERE.

Strengthening Leadership and Communication for Success

Effective leadership and communication are key drivers of organizational success. To support professionals in honing these critical skills, Anna Marie Periquet, Founder of YEGAP and current Advisory Council member, is introducing a Strategic Leadership and Communication Solutions Package designed to enhance leadership presence, improve decision-making, and foster collaboration.

This program offers tailored support through:

• Executive Coaching – One-on-one sessions focused on developing leadership confidence and tackling complex challenges.
• Corporate Training & Workshops – Practical sessions aimed at refining leadership, communication, and professionalism.
• Executive & Management Facilitation – Structured strategy meetings, team-building workshops, and leadership retreats to align teams and drive performance.

With flexible and cost-effective options, organizations can customize their engagement based on specific needs and goals. For more information, contact periquetconsulting@gmail.com.

Invitation to The 7th South Asian Business Leaders Conclave (SBLC) & South Asian Trade Fair on 19-21 May 2025

POSTPONED

Dhaka, Bangladesh will be the center of South Asia’s economic dialogue in May 2025, as the South Asia Business Leaders Conclave (SBLC) and South Asia Trade Fair bring together key figures from business, politics, and academia. Organized by the SAARC Chamber of Commerce & Industry (SAARC CCI) and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), these events are set to foster regional collaboration and growth.

The 7th SBLC, to be held on May 19-20, 2025, will focus on the theme “Unity in Diversity, Our People, Our Future Together.” The event will feature an inaugural address by the Honorable Chief Advisor of Bangladesh and a Ministerial round with the Commerce Ministers of all SAARC member nations. The Conclave will offer a valuable platform for discussions on regional integration, trade, and the future of South Asian cooperation.

Parallel to the Conclave, the South Asia Trade Fair (May 19-21, 2025) will provide a unique opportunity for businesses to showcase their products and services, explore new trade opportunities, and connect with potential partners from across the region. This fair is an excellent venue for strengthening economic ties within South Asia and expanding trade links with East Asia.

Organizers extend a warm invitation to businesses and organizations to participate in these key events. The SBLC and Trade Fair offer a prime opportunity to engage with regional leaders, explore economic collaboration, and build valuable business networks in the heart of South Asia.

Also attached herewith one PDF file with information about the Conclave and the Trade Fair for further details.

ADB webinar on Regional Cooperation & Integration on 27 March 2025

CACCI is inviting members to join the 92nd Asian Impact webinar on 27 March 2025, Thursday, 2:00-3:00 PM, Manila time, Asian Impact Webinar: Harnessing the Benefits of Regional Cooperation and Integration. Regional integration in Asia and the Pacific contributed significantly to two decades of remarkable growth. Can deeper integration help navigate geopolitical and economic challenges while fostering a greener, more inclusive, and sustainable future?

Please register at https://asianimpact.adb.org  You will receive a confirmation email containing the webinar link and password once you have successfully registered.

To view the past webinars, please visit the Asian Impact Webinar page and our Youtube playlist

Invitation to Attend the WCF Africa Summit 2025 in Nairobi

CACCI would like to extend the invitation from the World Chambers Federation (WCF) to attend the WCF Africa Summit 2025, taking place in Nairobi, Kenya on April 9-10, 2025. This landmark event, themed “Africa’s Global Future: Integrated, Innovative, and Sustainable,” will gather global and regional leaders, policymakers, and industry experts to discuss Africa’s trade future under the African Continental Free Trade Area (AfCFTA).

This summit offers a unique opportunity to engage directly with African business leaders and policymakers, explore the vast consumer market of 1.3 billion people, and support Africa’s long-term transformation goals under Agenda 2063. Gain first-hand insights into Africa’s business ecosystem and understand the implementation and opportunities of the AfCFTA.

For more details, please refer to the event website.

How to join:

1. Click here to sign up as a delegate — You will receive an acknowledgment of your registration.
2. Registration verification (within 48 hours) — Once verified, you will receive a confirmation letter that includes a visa invitation and a Kenya Airways discount link.
3. Additional information — Details on preferred hotels, visa process and other logistical information can be found here.

Should you have any specific registration inquiries, feel free to contact wcfsecretariate@kenyachamber.or.ke

YEGAP and YEAC Sign Memorandum of Agreement to Strengthen Support for Young Entrepreneurs

On March 11, 2025, the Young Entrepreneurs Group of Asia-Pacific (YEGAP) and the Young Entrepreneurs Association of Cambodia (YEAC) officially signed a Memorandum of Agreement (MoA) in a virtual ceremony. This partnership aims to foster greater collaboration among young entrepreneurs across the Asia-Pacific region and beyond.

The signing ceremony was attended by key representatives, including YEGAP Chair Mr. Hiromi Aoki and YEAC Vice President Mr. Lay Kimsuor. The MoA outlines the shared commitment to building a supportive, interconnected business community through capacity-building, networking, and joint initiatives.

This partnership reflects YEGAP’s vision of “One Asia, One Family,” creating a network where young entrepreneurs can connect, collaborate, and thrive. Both organizations are excited to work together and look forward to the opportunities this partnership will bring to young entrepreneurs in the region.

After the ceremony, the signed MoAs were consolidated and shared with both parties for further action.

We look forward to sharing more about the upcoming opportunities and initiatives that this partnership will bring to young entrepreneurs across the region.

Excellent webinar of the Asia Pacific Green Alliance on Sustainability for SMEs

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) and the Singapore Manufacturing Federation (SMF) held a webinar on “The Green Alliance: Latest Developments”, on 26 February 2025.

Moderated by Michael Lim, Founder, Launch Hero Digital Marketing Agency and Member, Executive Committee of the Young Entrepreneurs Group of Asia-Pacific (YEGAP), the 60-minute webinar featured Clara Kwan, SMF Sustainability Officer, in a panel conversation with two other distinguished guests, Lennon Tan, SMF President and CACCI Vice President for Sustainability, and Stuart Thomson, Co-Founder and Executive Director, Good Business Foundation ad CACCI Vice President for Entrepreneurship.

SUMMARY

Mr. Tan opened the session by sharing a personal anecdote from 2021, when he learned about Singapore’s high per capita waste generation during a panel discussion. This experience highlighted the urgent need for businesses, particularly SMEs, to adopt sustainability practices, he said.

He noted that multinational corporations (MNCs) in Singapore have begun enforcing ESG requirements within their supply chains, warning SMEs that do not comply could result in exclusion from global supply chains.

Recognizing the challenges SMEs face in meeting stringent Western ESG standards, Mr. Tan said he decided to create the Asia Pacific Green Alliance (APGA). Established to drive sustainable business practices, foster green innovation, and set a common benchmark for corporate sustainability, APGA was officially launched on November 12, 2024, by Singapore’s Senior Minister of State, Desmond Tan during th 38^th CACCI Conference held in the city-state.

Ms. Kwan provided an in-depth overview of the APGA, detailing its mission, structure, and the value it brings to businesses. She outlined APGA’s founding members, which include the SMF, the Singapore Business Federation, ISCA (The Institute of Singapore Chartered Accountants), GS1 Singapore, and the Singapore International Chamber of Commerce, among others. She emphasized the alliance’s commitment to providing actionable sustainability tools and advocating for Asia Pacific priorities on the global stage.

During the discussion, the following points were highlighted:

(1) Key Objectives and Framework of APGA

APGA operates in four main areas:

1. Standards and Certification: Establishing a unified sustainability reporting standard for the region and a tiered certification system (Bronze, Silver, and Gold) to recognize corporate sustainability efforts.
2. Support and Guidance: Offering sustainability guidance, analysis, and consulting services to help companies develop ESG strategies tailored to their business models.
3. Education and Training: Providing international, regional, and localized training on ESG standards, certifications, and best practices.
4. Advocacy and Networking: Partnering with industry bodies, governments, and NGOs to amplify Asia Pacific’s voice in global sustainability discussions.

Ms. Kwan highlighted the increasing regulatory pressures and consumer demand for sustainable products. She presented a timeline illustrating how various Asia Pacific economies are progressively introducing ESG regulations. She stressed the importance of early adoption to avoid a last-minute scramble when sustainability compliance becomes mandatory.

(2) The APGA Certification System

The APGA certification system categorizes companies into three tiers based on their sustainability performance:

• Bronze: Recognizing companies that have initiated basic sustainability efforts.
• Silver: Awarded to companies integrating sustainability into their business operations with measurable goals.
• Gold: Reserved for companies demonstrating sustained leadership in ESG over several years.

The evaluation process considers factors across three key ESG pillars:

• Environment: Policies on environmental protection, sustainable design, and energy savings.
• Social: Diversity, employee education, and healthcare benefits.
• Governance: Accountability and transparency in management.

APGA also acknowledges existing ESG certifications (e.g., Green Mark, ISO standards) in its assessment, ensuring companies’ prior sustainability efforts are recognized.

(3) Case Study: Schneider Electric

To illustrate sustainability leadership, Ms. Kwan presented Schneider Electric’s achievements, including its ambitious carbon reduction targets and its “Zero Carbon Project,” which aims to cut emissions from its top 1,000 suppliers by 50%. These efforts earned Schneider Electric the title of “Most Sustainable Company in the World” in 2024, demonstrating the long-term value of sustainability in business.

(4) APGA Marketplace and Business Opportunities

Beyond certification, APGA provides a marketplace for sustainable products and services, facilitating cross-border trade among certified companies. By joining APGA, businesses gain visibility, credibility, and access to international markets seeking verified sustainable partners.

(5) Collaboration with Chambers of Commerce

APGA offers chambers of commerce a structured approach to support their members’ sustainability journeys. Through a three-step process, chambers can:

1. Access APGA’s sustainability tools, training workshops, and resources.
2. Implement local sustainability standards using APGA’s methodology.
3. Support member companies in obtaining APGA certification, enhancing their global competitiveness.

(6) Exclusive Membership Offer for Chambers

To encourage participation, APGA introduced a limited-time membership offer for chambers of commerce: a three-year membership at $10,000 (a 33% discount), including premium branding, early access to sustainability tools, and opportunities for policy engagement.

(7) Presentation’s conclusion

Ms. Kwan closed the session by emphasizing the importance of collective action in driving sustainable business transformation. She invited chambers and SMEs to join APGA, take advantage of its tools, and contribute to shaping the future of sustainability in the Asia Pacific region.

Ms. Kwan’s presentation was followed by a panel discussion that elaborated on some of the points explained during the main presentation. The workshop concluded with an interactive Q&A, where participants raised practical questions.

(8) Moderated by Lim, the panel discussion section, featured three speakers, Mr. Thompson, Mr. Tan, and Ms. Kwan. The key issues discussed during their discussion are summarized as as follows:

(a) Mr. Thompson highlighted the following points:

• Entrepreneurial Perspective on Sustainability: Entrepreneurs recognize the importance of sustainability, despite global uncertainties. Younger entrepreneurs, in particular, see sustainability as a long-term business opportunity.
• Challenges for SMEs: Identified a “missing middle” of SMEs that lack adequate support, incentives, and resources to transition towards sustainable business practices.
• Key Findings from CACCI’s Study:
  (a) SMEs need better policy support, funding, and tax incentives, (b) Some industries (e.g., high-energy and manufacturing) face greater sustainability challenges, and (c) businesses prefer peer networks over external consultants for sustainability guidance.
• Blended Finance Solutions: Businesses require structured financial support, such as tax incentives, certification benefits, and subsidized loans to transition to sustainable practices.

(b) Mr. Tan discussed the following points:

• Sustainability as ROI, Not Just Cost
  Lennon emphasized a shift in perspective – sustainability is no longer just an expense but an investment with measurable returns. Companies that integrate sustainability can reduce costs and improve profitability.
• Case Studies Demonstrating Business Benefits
  He highlighted real-world examples, such as Apple reducing packaging waste, Unilever saving $1.2 billion through sustainability efforts, Tesla’s brand loyalty due to its green initiatives, and TSMC leading in sustainable semiconductor manufacturing.
• Sustainability as a Competitive Advantage
  Companies that prioritize sustainability position themselves better in the market. Firms like TSMC gain partnerships with top tech brands because of their strong ESG credentials.
• The Need for Clear Carbon Credit Frameworks
  In response to a question on carbon tokenization, Lennon pointed out that global carbon credit systems are still evolving, with different countries recognizing different standards. Businesses must align with accredited frameworks.
• Collaboration is Essential for Progress
  He stressed that organizations like APGA (Asia Pacific Green Alliance) are available to support businesses and chambers in taking meaningful sustainability steps. Partnering with associations can accelerate sustainability efforts.
• Call to Action for Chambers of Commerce
  Lennon concluded the discussion by urging chambers to take an active role in sustainability. He encouraged continued dialogue, collaboration, and leveraging APGA’s resources to make sustainability actionable and impactful.

(c) Ms. Kwan stressed the following:

• Chambers of Commerce as Enablers: Chambers can play a crucial role in supporting businesses with sustainability initiatives but often lack resources and expertise.
• Collaboration with APGA: APGA is partnering with chambers in Singapore to provide sustainability solutions, including workshops on carbon tracking and regulatory compliance.
• Tailored Support: Encouraged chambers to poll members on their sustainability needs and offer targeted workshops and guidance based on their readiness and business size.
• Marketing Potential: Even large businesses can leverage chambers for sustainability credentials to enhance their market positioning and international expansion.

The webinar session ended with Mr. Tan’s Closing Remarks inviting CACCI members and individual companies, especially SMEs, to contact the Asia Pacific Green Alliance and join the sustainability movement.

The presentation file can be downloaded HERE.

“ICC One Click webinar with CACCI members” on 27 March 2025 at 3PM Taipei time

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) would like to invite you to join the upcoming webinar hosted by the International Chamber of Commerce (ICC) on ICC One Click scheduled for 27 March 2025 at 3:00 pm Taipei time.

Presented by Stephanie Vieilledent, Head of Chamber Relations at ICC, and Charly Gordon, Lead Innovation Lab • Transformation at ICC, the 60-minute webinar will introduce ICC One Click, the gateway to trade tools, solutions and guides to export and grow globally. The webinar will explain how to use ICC One Click on members’ websites and introduce its benefits to members.

We cordially invite all CACCI members to join the webinar and explore this new resource to improve your business operations.

To join the webinar in Teams, please click below:

ICC One Click webinar

Meeting ID : 357 328 017 474

Password: qF3dz9qF

Pakistan and Bangladesh Establish Joint Business Council

An MoU has been signed between the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI), to establish Pakistan – Bangladesh Joint Business Council (JBC) with the aim of strengthening and facilitating trade between both nations.

MNCCI Welcomes New President

The Mongolian National Chamber of Commerce and Industry (MNCCI) has announced the election of Mr. Tur-Od Lhagvajav as its new President and Chairman of the Board. With a strong background in governance, transparency, and economic policy reform, Mr. Lhagvajav brings extensive experience in business advocacy and public service to his leadership role.

MNCCI plays a vital role in supporting Mongolia’s business sector and expanding its regional and global reach. A CACCI Presidential Visit to Ulaanbaatar is tentatively scheduled for June, providing an opportunity to engage with Mongolia’s business community and strengthen cooperation. More details on the visit will be shared as plans are finalized.

Mr. Stuart Thomson appointed CACCI Vice President

CACCI has the pleasure to announce the appointment of Mr. Stuart Thomson, Co-Founder and Executive Director, Good Business Foundation and Chief of Staff, CACCI President’s Office, as Vice President of CACCI. Mr. Thomson’s appointment to the position has the endorsement of the Australian Chamber of Commerce and Industry to represent the Oceania region of CACCI’s geographical membership.

CACCI President Peter McMullin AM said that “given Mr. Thomson’s leadership experience in many organizations, I am confident that he will be in the best position to assist me in implementing activities under my platform as CACCI President for the next two years of “Helping Business get SET for the Future”.”

Besides supporting Mr. Thompson’s appointment, President McMullin AM expressed his intention to  continue relying on Stuart Thompson in his effort to promote the critical role of entrepreneurship and entrepreneurial thinking among CACCI members – especially the Young Entrepreneurs Group of Asia Pacific (YEGAP) and the CACCI Women Entrepreneurs Council (CWEC) – over the next two years of his incumbency.

President McMullin also hopes that CACCI members will provide Mr. Thomson – and other CACCI Vice Presidents – continued support and cooperation in his effort to make CACCI an effective forum for advancing the cause of the Asian business community and for promoting regional economic cooperation among members.

Three Training Seminars on International Trade Terms for Spring 2025

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) is proposing to organize Spring 2025 Training Sessions – in cooperation with interested Primary and Affiliate Members – consisting of three different one-day training seminars on International Trade Terms 2020 (Incoterms 2020) and related themes.

The three proposed one-day seminars are on:

(1) New Revision of the International Trade Terms (one day)
What you need to know to make your international trade deal successful based on Contract of Sale and ICC Rules Incoterms 2020

(2) Advanced Seminar on payment and security instruments in foreign trade, receivable finance, ESG and Compliance (one day)
Getting familiar with international payment and security conditions, risk, costs and their documentary requirements, including a session on compliance with focus on dual use goods, sanctions, and ESG aspects.

(3) Advanced seminar on INCOTERMS 2020 and their linkage to documentary credits (one day)
New information about use of Incoterms 2020 in relation to standard documentation and payments conditions above all documentary credits.

As the Incoterms 2020 practices continue to be updated continually since its inception in January 1, 2020, being familiar with all developments and their impact is a must in the international trade and finance world.

Interested chambers can choose from the suggested topics and preferably organize at least  two one-day courses. The programs can be adjusted according to the Chamber’s needs. For instance, there could be more comprehensive one-day course just on documentary credits and their financing, with news on some practical issues. New topics can be added or some can be deleted, more time can be allocated to practical case studies and discussions.

By attending the seminars, participants will be able to:

(1) Get a further understanding on the main aspects of contract of sale, related risks, main problematic issues;

(2) Familiarize themselves with trade terms as per Incoterms and above all with new revision Incoterms 2020 – their practical impact on international trade and finance; and

(3) Learn about the relationship of payment terms to trade terms – Incoterms 2020 and more.

CACCI recommends these training courses to bankers in trade finance, corporate specialists dealing with import/exports, bank lawyers, auditors, middle level management and related positions.

THE TRAINER

The seminars will be conducted by Mr. Pavel Andrle, long time members of the Banking Commission and Commission of Commercial Law and Practice of ICC, Trade Finance Trainer and Consultant.

In this regard, we would like to know whether your Chamber is interested in hosting the proposed seminars under a cost-sharing arrangement as outlined Shared Responsibilities Agreement which can be accessed per below.

If so, kindly fill out the Response Form and return it to us through our Fax No.: (886 2) 2760-7569 or e-mail cacci@cacci.biz by 30 April 2025.

To make Mr. Andrle’s training itinerary in Asia more efficient, CACCI is recommending that interested Chambers select holding the programs on either of the following two periods: (1) The week of May 5-9,  and (2) the week of May 19-23. Some Chambers have already booked certain dates.

The three seminars’ syllabus, Mr. Pavel’s resume, Shared Responsibilities Agreement and Response Form can be downloaded HERE.

Dr. Asli Elif Tanugur Samanci wins CACCI’s 4th Asia-Pacific Woman Entrepreneur Award

During the Gala Dinner of the 38th CACCI Conference held in Singapore on November 11-12, 2024, Dr. Asli Elif Tanugur Samanci, Co-Founder & General Manager, SBS Bilimsel Bio Cozumler San. Tuc. A.S. (Turkiye) accepted the 4th Asia-Pacific Entrepreneur Award from Mr. Chang and members of the Board of Judges Mr. Rommel Gerodias, President of A101 Innovations and Outgoing YEGAP Chairman, and Ms. Khulan Dhavaadorj, Founder and Director of Lhamour and Member, YEGAP Executive Committee.

Morang Chamber of Nepal wins CACCI’s 10th Big Chamber Award

During the Gala Dinner of the 38th CACCI Conference held in Singapore on November 11-12, 2024, the Chamber of Industries Morang of Nepal was awarded CACCI’s 10th Local Chamber Award.

Representatives from the Chamber of Industries-Morang accepted the Award from CACCI Advisory Board Chairman Mr. Harvey Chang and the members of the Board of Judges; Mr. Ernest Yuen, CACCI Vice President and Chairman of the Kowloon Chamber of Commerce , and Mr. Kazuo Nishitani, Executive Director of the Japan Chamber of Commerce and Industry.

CACCI Planning Meeting To Kick Off 39th Conference Preparations

CACCI will hold its Planning Committee Meeting on February 12, 2025, at 2:00 PM Taipei time (11:30 AM Sri Lanka time). This meeting marks the launch of preparations for the 39th CACCI Conference, set to take place in Colombo, Sri Lanka, and to be hosted by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL).

The Committee will finalize key details such as the conference theme, agenda, speakers, and program format to ensure the success of this milestone event. The conference will bring together business leaders and stakeholders from across the Asia-Pacific to address pressing regional issues and opportunities.

Further updates will follow as plans progress. For more information, please feel free to contact the CACCI Secretariat at cacci@cacci.biz.

2024 CACCI Annual Report available

CACCI is pleased to share with all our members and friends our Annual Report for 2024, which has been a year of significant achievements as we continued working toward our vision.

The CACCI Annual Report 2024 provides an overview of our activities, achievements, and initiatives over the past year, highlighting the hard work and dedication invested in supporting our regional community, advancing businesses, and creating new opportunities for growth and collaboration. We invite you to read the report, celebrate our collective accomplishments, and review the goals we have set for the year ahead.

Looking ahead, numerous exciting opportunities await our Confederation. I look forward to working together with you to chart a course for the future. To download the PDF file, please click HERE.

CACCI VP Atif Ikram Sheikh Hosts Tajikistan Delegation

A high-profile Tajikistan delegation, led by H.E. Mr. Daler Juma, Minister for Energy, met with Mr. Atif Ikram Sheikh, President FPCCI & ECO-CCI and Vice President CACCI, in Islamabad to discuss strengthening bilateral and regional economic ties.

Mr. Sheikh emphasized CACCI’s role in fostering collaboration across Asia-Pacific, highlighting its member countries’ significant economic impact, including 40% of the world’s population and $11 trillion in trade. He briefed the delegation on the outcomes of the 38th CACCI Conference in Singapore and invited Tajik businessmen to actively participate in upcoming CACCI initiatives.

Both sides discussed expanding cooperation in energy, infrastructure, and private sector development, aligned with Pakistan’s “Vision Central Asia” policy. Mr. Juma praised Pakistan’s support and highlighted the importance of enhancing business ties. The meeting concluded with agreements to explore new ventures and establish road, rail, and air connectivity, demonstrating the growing partnership.

CAMCA Regional Forum in Ulaanbaatar on 29 June 2025

The CAMCA (Central Asia-Mongolia-Caucasus-Afghanistan) Regional Forum is a non-political and non-partisan Forum established to promote region-wide discussions on means of advancing economic growth and development in the 10 countries of the region: Afghanistan, Armenia, Azerbaijan, Georgia, Kazakhstan, Kyrgyz Republic, Mongolia, Tajikistan, Turkmenistan and Uzbekistan. It promotes this goal by fostering dialogue and interaction among rising leaders from all sectors in the 10 countries of the region, as well as with international leaders and stakeholders.

The 2025 Forum, to be held in Ulaanbaatar, Mongolia on 29 June 2025, is a premier opportunity to engage with prominent influencers and leaders in the CAMCA region and to gain firsthand insights on the region’s pulse and latest developments. Due to the diverse and impressive pool of participants, the Forum essentially serves as a ‘one-stop shop’ for professionals of all sectors who are interested in regional cooperation and partnerships, as well as for outside nations, businesses and organizations that have an interest in engaging with the region.

For more information please visit https://camcaforum.org/

Themes & Topics sought for 39th CACCI Conference in Colombo, Sri Lanka in 2025

The 39th Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) annual conference will be hosted by the Federation of Sri Lanka Chambers of Commerce of Sri Lanka (FCCISL) in 2025.

In preparation for the 2025 Conference, members of the CACCI Planning Committee will meet virtually on February 12, 2025 primarily to discuss the Conference Program, including the themes and topics for the Conference.

In this connection, CACCI is seeking suggestions on economic, business or policy issues which CACCI members think are currently of great concern to members and the business sector of the region as a whole, and should be discussed by members during the 2025 Conference. Please let us know your thoughts by accomplishing the Suggestion Form and returning it to  through our Fax No. (886 2) 2760 1139 or via e-mail at cacci@cacci.biz.

CACCI would appreciate hearing from you before January 15, 2025 to give enough time to circulate all suggestions to the Planning Committee for consideration prior to its meeting.

The list of the themes and topics of past years’ Conferences can be downloaded HERE.

Thank you, and we look forward to receiving your response.

Sincerely yours,

Darson Chiu, Ph.D.
Director-General
Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI)

Invitation to participate in the The Joint Regional Sustainability Survey

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) has agreed to be a major partner of the Green Alliance Initiative of the Singapore Manufacturing Federation (SMF).  The Green Alliance Initiative aims to help SMEs in the Asia-Pacific region to embark on their sustainability transformation, sharing of best practices, standards development, advisory support, recognition, and collectively striving towards a net-zero goal and be future-ready for Industry 5.0. Underscoring its importance, CACCI President Mr. Peter McMullin AM said that the Green Alliance Initiative is designed to empower SMEs on their sustainability journey.

In this connection, CACCI would like to invite its members to participate in the The Joint Regional Sustainability Survey which aims to understand the sustainability challenges and needs of enterprises across the Asia-Pacific region. The survey focuses on assessing the current awareness, capabilities and obstacles companies face in the different Asia Pacific economies when integrating economic, environmental and social criteria into their operations.

The key objectives of the survey include:

• By engaging companies from different countries, the survey aims to uncover regional variations and commonalities in sustainability challenges and needs, providing a holistic understanding of the business landscape.
• The insights will help us form tailored programs and resources that enable companies to implement sustainable practices effectively, enhancing their competitiveness and resilience in a rapidly evolving global market.
• This effort seeks to foster a unified APAC voice on sustainability, encouraging shared learning and collaboration among businesses and stakeholders to drive impactful, region-wide sustainability outcomes.
• The aggregated data will provide valuable input for industry leaders, shaping standards that are supportive of companies and aligned with global sustainability goals.

CACCI members are encouraged to accesss the survey at: https://forms.gle/HUJyoxMaJojQGPdb9

TOBB Mehmet Büyüksimitci attends the CACCI Conference

The 38th Asia-Pacific Confederation of Chambers of Commerce and Industry (CACCI) Conference was held in Singapore on November 11-12, 2024. The conference was attended by TOBB Board Member Mehmet Büyüksimitci representing the Union of Chambers and Commodity Exchanges of Türkiye (TOBB).

Within the scope of the conference, the 38^th CACCI Board of Directors Meeting chaired by CACCI President Peter McMullin, M. Rifat Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB), was re-elected as Vice President of the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) for 2025-2026, a position he has held since 2014.

Mehmet Büyüksimitci held a meeting with Turkish Ambassador Mehmet Burçin Gönenli. During the meeting, Türkiye-Singapore trade and economic relations were discussed.

In addition, BEE’O Propolis Co-Founder/CEO Dr. Aslı Elif Tanuğur Samancı won the ‘Best Woman Entrepreneur’ award at the ‘Women Entrepreneur Awards’ organized by CACCI.

The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) was founded in Taiwan in 1966 by 10 national chambers of commerce. Australia, Papua New Guinea, New Zealand from the Oceanian Continent; Hong Kong, Japan, South Korea, Mongolia, Taiwan, Russian Federation from East Asia; Brunei, Cambodia, Indonesia, Malaysia, Philippines, Singapore and Vietnam from Southeast Asia; Bangladesh, India, Nepal, Pakistan and Sri Lanka from South Asia; Azerbaijan, Georgia, Iran, Tajikistan, Uzbekistan and Türkiye from Central Asia are members of CACCI. Its aim is to contribute to the development of the economies of the Asia-Pacific region by bringing together the business worlds of the member countries.

https://www.tobb.org.tr/Sayfalar/Eng/Detay.php?rid=14313&lst=Haberler

Showcasing Nepal and The Globe Trade Fair on 12-16 December 2024 in Kathmandu

CACCI would like to invite members and friends to the 10th Nepal International Trade Fair on “Showcasing Nepal and The Globe” to be held from December 12-16 in Bhrikutimndap, Kathmandu, Nepal.

The main objective of this Fair is to promote Nepal’s international trade and enhance the growth of Nepalese exportable products. The event also provides an excellent opportunity for foreign buyers to meet Nepalese manufacturers and exporters in areas of specific interest.

The majot attraction of the Fair is the International Buyer-Seller and Product wise pavilion. In the trade fair, there will also be a country wide pavillion so that participating countries can showcase its products and services during the fair.

This Fair is an important platform to increase bilateral trade and economic cooperation between Nepal and neihboring countries.

For more details about the Trade Fair and details about registration and booth, please click HERE.

Philippine PCCI invites CACCI to play at Golf Tournament

We wish to inform CACCI  members about the invitation from the Philippine Chamber of Commerce and Industry (PCCI) to join the Golf Tournament that will be held in conjunction with the 50^th Philippine Business Conference and Expo (PBC&E) being organized by PCCI on October 22-23, 2024. Attached are the Registration Form and Tournament Rules for your perusal.

Focusing on the theme “Embracing Innovation, Empowering Business, Enriching Lives”, this year’s PBC&E will explore sustainable growth strategies essential for businesses to thrive in today’s competitive landscape. A line-up of renowned speakers from both government and business sectors have been invited to address significant industry concerns, particularly in such sectors as ICT, agriculture, science and innovation and tourism.

We therefore encourage its members to join CACCI at this year’s PBC&E. Mr. McMullin has requested PCCI to help arrange meetings for the CACCI delegation with relevant government offices and a number of company visits to allow CACCI members to gain first-hand information on the trade and investment opportunities in the Philippines and to explore possible areas of business cooperation.

Register now at: https://bit.ly/50th-philippine-business-conference-and-expo-registration

For further inquiries, you may contact the PCCI International Affairs directly at lyn.gabionza@philippinechamber.com, or the CACCI Secretariat at cacci@cacci.biz.

More information about the 50th Philippine Business Conference and Gold registration can be downloaded HERE.

FICCI & CACCI webinar on Food Processing & World Food India 2024 held on 1 August 2024

The Federation of Indian Chambers of Commerce and Industry (FICCI) and the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) jointly organized a webinar on “Investment Opportunities in Indian Food Processing Sector & World Food India 2024” on 1 August 2024.

The 60-minute becinar was moderated by Kunal Chaudhary, FICCI Director, and featured 4 distinguised speakers: Darson Chiu, Ph.D., CACCI Director General; Shri Minhaj Alam, Additional Secretary, Ministry of Food Processing Industries (MoFPI), Government of India; Tanshi Sahu, Invest India Presenter and Shri Ranjit Singh, Joint Secretary, Ministry of Food Processing Industries (MoFPI), Government of India.

Here is the summary of their presentation:

SUMMARY

Darson Chiu, Ph.D., CACCI Director General

Darson Chiu welcomed participants to the webinar on investment opportunities in India’s food processing sector and the upcoming World Food India 2024 event. He highlighted India’s rapid economic growth and the food processing sector’s significant expansion in recent years, supported by government initiatives such as infrastructure modernization. With a large population, rising disposable incomes, and a booming food retail market, India has emerged as a global hub for food processing.

Kunal Chaudhary, FICCI Director

Kunal Chaudhary, representing FICCI, introduced the event by acknowledging FICCI’s role as one of India’s largest apex chambers and its close collaboration with the government for World Food India. He welcomed the esteemed speakers from the Ministry of Food Processing Industries (MoFPI) and Invest India, emphasizing their key roles in the event.

Shri Minhaj Alam, Additional Secretary, Ministry of Food Processing Industries (MoFPI)

Shri Minhaj Alam commended CACCI, FICCI, and Invest India for organizing the webinar, recognizing it as an essential platform to showcase India’s food processing opportunities. He highlighted India’s position as one of the world’s fastest-growing major economies, with a GDP of $3.7 trillion and ambitious growth targets for 2047. India, being one of the largest producers of agricultural and horticultural products, presents immense potential for value addition, reducing food wastage, and increasing farmer incomes.

He outlined the MoFPI’s commitment to supporting the industrial ecosystem through infrastructure development and various incentive schemes, such as PM Kisan Sampada Yojana and PMFME. World Food India 2024, scheduled for September, aims to bring together key stakeholders to discuss investment opportunities, innovations, and sustainable growth in the sector. The event will also feature international delegations, B2B meetings, and industry partnerships, reinforcing India’s growing role in the global food ecosystem.

Tanshi Sahu, Invest India Presenter

Ms. Sahu provided a detailed overview of India’s economic growth and its thriving food processing industry. She highlighted that India is one of the fastest-growing large economies, with GDP growth expected to reach 7.6% in 2024. The country boasts strong exports, reaching $776 billion in 2023, with significant contributions from agricultural and food products. Key points from her presentation include:

• India is a world leader in milk, livestock, millet, and pulses, while also ranking second in food grains, fruits, vegetables, and tea production.
• The Indian food processing market is projected to reach $535 billion by 2026.
• Low levels of food processing present significant opportunities: only 21% of milk, 3.3% of food and beverages, and 34% of meat production is processed.
• Government initiatives such as the Pradhan Mantri Kisan Sampada Yojna and production-linked incentives provide capital subsidies and tax benefits to boost food processing investments.
• 100% Foreign Direct Investment (FDI) is permitted through the automatic route for food processing, enhancing investment prospects.
• World Food India 2024, scheduled for September 19-22, aims to transform the food processing ecosystem by showcasing innovations, promoting sustainability, and facilitating market access for domestic and global stakeholders.
• The 2023 edition of the event witnessed participation from 24 states, 16 international delegations, and ministerial representatives from multiple countries. Over 16,000 B2B meetings were conducted, and MoUs worth $3.98 billion were signed.
• The 2024 edition will feature expanded thematic sessions, new focus sectors like plant-based proteins and sustainable packaging, and a larger-scale Food Street experience.

Shri Ranjit Singh, Joint Secretary, Joint Secretary, Ministry of Food Processing Industries (MoFPI)

Shri Ranjit Singh, in his closing remarks, commended the event’s organizers and emphasized India’s commitment to strengthening trade relations in the Asia-Pacific region. He invited international partners to actively participate in World Food India 2024, underscoring the event’s role as a platform for strategic collaborations, investment opportunities, and technological advancements in the food sector.

Excellent webinar on Bangladesh Business Environment held 27 June 2024

A successful webinar on “Bangladesh’s Business Environment” was held on 27 June 2024 featuring three distinguished speakers, namely: Mr. Mahbubul Alam, FBCCI President; Mr. Sheikh Fazle Fahim, CACCI Vice President and former FBCCI President;  and Mr. Md. Alamgir, FBCCI Secretary General. They provided valuable information on current economic trends and developments in Bangladesh, including its investment opportunities.

Jointly organized by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and CACCI, the 60-minute webinar presented important statistics on import and export levels as well as products that are currently geared towards export markets.

SUMMARY

Mr. Alam spoke about the resilience, determination and strategic partnerships that Bangladesh is currently building. He discussed about strong developments in garments and fresh-water fisheries in Bangladesh.

He described advancements in human resources development as large percentage of girls are being enrolled in primary and secondary education. Also, advances in national health conditions have reduced infant mortality rate dramatically.

Furthermore, he said that the government established an extensive social safety net that includes financial support and an investment friendly attitude in general that helps the economy maintain its rigor.

Mr. Fahim explained key economic features in the CACCI region such as a population representing 37.8% of the global population that produces 19.6% of the global GDP and some 19.7% of global exports.

Mr. Fahim also mentioned that CACCI has issued an important study on the value chain of Asian economies as China’s manufacturing evolves. Another point on his presentation was the Green Alliance Initiative established by the Singapore Manufactring Federation early in 2024. He said that such Initiative will help Asian SMEs work towards reduced carbon footprints.

Mr. Alamgir’s extensive presentation started with the observation that despite global turmoil, Bangladesh is growing because of two key factors: people’s resilience and a resourceful business community.

The country has a very young population, with 45% of its inhabitants at around 24 years of age, adding that some 4 to 7 million people have access to the Internet.

He said that there is political will in Bangladesh to create a business friendly environment for foreign investment. In fact, Bangladesh will be graduating into the middle income country group by 2030. Furthermore, it has set its goals for much higher income levels by 2041. To achieve these goals, Bangladesh wants to provide opportunities to foreign investors so they can transform into global business players.

The Prime Minister Office, the Ministry of Finance, and many other agencies are actually involved in fostering economic growth and business opportunities.

Bangladesh’s area is just as big as one state of the United States at 48,460 square kilometers but its population is much larger at 170 million inhabitants, the 8th largest in the world. With a GDP standing at US$459 billion in 2023, Bangladesh ranks 30th in the world.

Bangladesh has consistently improved its business climate to the point that it has not experienced negative GDP growth for decades and has grown at. 6% to 7% annually for almost 3 decades. According to the World Bank, it will continue to grow year after year into the future.

Bangladesh’s imports are larger than its exports at US$55.5 billion with cotton being the major import item, followed by steel bars, cereal, machinery, energy, and crude. Cotton is mainly used in the garments industry while oils imports are used to generate energy.

China is Bangladesh’s primary source of imports at around US$20 billion, followed by India, Singapore, Malaysia, and Indonesia.

In terms of top export markets, United States comes first, followed by Germany, UK, Spain, France, Netherlands, and India.

Alamgir mentioned opportunities in trade and investment such as footware, leather, garments, etc.. The flourishing ones are electronics and IT, frozen food. leather, and power, light engineering, automobiles, light industries. These are nascent industries that wiill flourish in the years to come.

Bangladesh has also streamlined its regulatory framework and now hosts 97 industrial zones ready for investments with very favorable tax incentive programs and exemptions for investors, allowiing up to 100% foreign ownership.

For instance, Banglesh features bonded warehousing facilities, and biotechnology operations from over 31 different countries.

During the second part of his presentation, Mr. Alamgir explained the role and activities that FBCCI organizes.

He said that FBCCI wants to become a place of business excellence, including policy advocacy mechanisms so that FBCCI becomes a trusted name among businesses. FBCCI’s main objective is to empower growing businesses by building a resilient business community. Thus, the Federation coordinates and promotes trade and investment fairs at home and abroad.

FBCCI also provides views on different issues related to government policies, trade, tax and investment. It wants to help companies increase productivity envisioning 2041, as one benchmark to achieve a happy and prosperous Bangladesh through investment.

The presentation files can be downloaded from the CACCI website HERE.

The video recording of the presentation can be viewed at the CACCI YouTube channel HERE.

CACCI Webinar on “Bangladesh’s Business Environment” on June 27, 2024

CACCI is inviting members and friends to participate in the webinar on “Bangladesh’s Business Environment” to be held on 27 June 2024 at 2PM Taipei time.

Jointly organized by the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) and CACCI, the 60-minute webinar feature two distinguished speakers, Mr. Sheikh Fazle Fahim, Vice-President, CACCI and Mr. Mahbubul Alam, President, FBCCI; who will provide valuable information on current economic trends and developments in Bangladesh.

We encourage business people, investors and bankers to join the webinar to gain insights into the business opportunities available and investment prospects in the Bangladesh market.

(1) AGENDA

2:00PM Opening Remarks and Overview on CACCI & Bangladesh by Mr. Sheikh Fazle Fahim, Vice-President, CACCI.
2:05PM Economy: Five Decades of Journey towards Smart Bangladesh by Mr. Mahbubul Alam, President, FBCCI.
2:10PM Introduction to FBCCI and Investment & Business  Opportunities in Bangladesh by Mr. Md. Alamgir, Secretary General, FBCCI.
2:50PM Q&A Session.
3:00PM End of Webinar.

(2) SPEAKERS

To join the webinar, please register HERE.

ACCI responds to Annual Wage Review outcome

The Australian Chamber of Commerce and Industry acknowledges the decision by the Fair Work Commission to raise the national minimum wage and modern award minimum wages by 3.75 per cent.

“This tests the acceptable limits for businesses. The outcome is slightly above current inflation and well over the Reserve Bank’s target range for inflation,” ACCI chief executive officer Andrew McKellar said.

“This decision is not in line with the trajectory needed to shore up the Australian economy, but it does not pose a significant inflation threat so long as productivity is addressed.”

“Over the past year, productivity has been flat at best. For the outcome of 3.75 per cent to be justified, it is essential that there is renewed growth in productivity as an urgent priority. This must be central to bargaining at an enterprise level.”

“This decision is further evidence of wages being de-linked from underlying productivity, which is not an economically prudent approach.”

The Fair Work Commission has ignored the extreme claims of the union movement. “This decision is a repudiation of the irresponsible five per cent demand from the ACTU,” Mr. McKellar said.

“Such an increase would have dangerously burdened the economy. It posed an unacceptable risk to inflation, and would have seen interest rates higher for longer.”

“Bringing inflation under control is central to the economic well-being of all. So long as inflation remains elevated, the buying power of every dollar diminishes.”

“Small businesses are grappling with significant increase costs as a result of the increased compliance burden and wages remain a concern in such an environment.”

“It is inevitable that businesses will need to pass increased costs through to consumers. Many small businesses are in a position where they simply cannot absorb any more.”

“Regulatory costs are going to increase further the impact of the governments industrial relations changes continue to flow through to the economy in such an environment business will need to pass on additional costs.”

ACCI Newsroom

Message from Chairperson Asia Council on Textile and Garment

As a Chairperson of the Asian Council on Textile and Garment, I am honored to address pertaining issues of Textile and Garment Industry of Asia Pacific Region. As a member of this community would like the Textile Industry to proactively work towards bridging gaps in this region, to improve Trade Relations in Asia Pacific region. Hence increasing Economic growth along with sustainability by reducing carbon footprint, shifting legislatively to renewable energy sources and increasing environmental protection.

Textile and Garment is the largest cornerstone of global commerce, weaving together fashion, functionality, and innovation. The market size of textile in Asia Region is US$ 391.20 billion and encompasses a diverse array of products, from clothing and accessories to industrial and technical textiles. The growth of this industry directly fuel with an increase in consumer spending in fashion accessories, rising of population, growing middle class, rising demand for clothing and home furnishing products, and technological advancements in the industry. China, India, Bangladesh, Pakistan, Bangladesh, Australia, Vietnam, Taiwan, Japan, Thailand, Cambodia, Malaysia etc. are giants of textile exports and hold significant position in global textile markets.

Asia Pacific Region has an edge in production/manufacturing of cost effective, skilled labor and traditional textile and garments, branding, pricing, distribution network and innovation to attract global brands to establish textile and garments units in Asia Pacific Region. . At present, the demand of sustainable and eco-friendly textiles and garments are rising in Asia and Pacific market, driven by growing environment awareness among consumers. E-Commerce and digital economy are transforming the distribution and retail landscape of textile and garment in Asia.

From the platform of Confederation of Asia Pacific Chamber of Commerce and Industry, I would like to invite all countries to participate in APTEXPO 2024 to be held on the next day of CACCI Council Meetings and Annual Conference in Singapore from 13^th November to 15^th November 2024. APTEXPO 2024 will serve as a global platform for industry leaders, stakeholders, and innovators to convene, share best practices, and explore solutions that will drive the region’s textile and apparel supply chain forward. This Expo will also provide an opportunity to explore untapped textile market of Asia Pacific particularly and global market generally.

In the forthcoming months, we will expand our activities for the promotion of trade in textile and garment industry in Asia Pacific region by organizing webinars, business opportunities conferences, matchmaking activities, participation in exhibition etc. We will try our level best for enhancing businessmen of textile and garments in Asia and Pacific. Together, we will enhance share of textile and garment in global production and exports.

Shareena Safdar Janjua

Invitation to nominate to ASEAN Business Awards 2024

CACCI is pleased to convey to its members the invitation from the ASEAN Business Advisory Council to participate in the ASEAN Business Awards (ABA) 2024:

“We are delighted to announce that the ASEAN Business Awards (ABA) 2024 is now open for applications. This year’s ABA aims to recognize ASEAN business enterprises and individuals that drive growth through enhancing connectivity and resilience, as well as those prioritizing sustainability in their endeavors. The awards emphasize the importance of collaboration and community empowerment in pursuing a more inclusive ASEAN society, highlighting the crucial role of partnerships in fostering peace and prosperity throughout the region.

Interested companies and individuals can follow the guidelines and find the application forms in the following link, with application deadline on 31 July 2024:

ABA 2024 Application Forms and Guideline

VCCI and CACCI Hold a Well-Attended Advanced Seminar on Contract Sales Incoterms 2020 in Vietnam in May 2024

The Vietnam Chamber of Commerce and Industry (VCCI) and the Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) jointly organized two-day seminars each in Hanoi and Ho Chi Minh City in Vietnam. The advanced courses on Contract of Sale, Incoterms 2020 and Secured Payment Methods in International Trade took place on 27-28 May in Hanoi, and on 30-31 May in Ho Chi Minh City.

Both seminars were very successful in terms of both attendance and class participation. The Hanoi seminar attracted about 100 participants, while the Ho Chi Minh City seminar surpassed 200 participants, coming from a variety of industries, including exporting companies, banks, logistics companies, insurance companies and even law firms.

The seminars focused on securing exports overseas using the most popular payment methods in international trade

The seminars were conducted by the experienced trainer and consultant Pavel Andrle, long-time member of ICC (International Chamber of Commerce) Banking Commission and Commission on Commercial Law and Practice. His presentations, which were interpreted into Vietnamese language, focused firstly on best practices in relation to drafting of international contracts of sale, above all its main parts: delivery and payment conditions.

Participants learned about new Incoterms 2020, main features of each delivery term and possible issues to pay attention to. Special focus was given to documentation, i.e., how to choose the right documentation to match the relevant Incoterm and the limits which documents pose. For instance, there might be significant risks for the exporter – often a beneficiary of a documentary credit – if the FCA port of loading was agreed (suitable term for containerized shipments) but the documentary credit requires a shipped on board bill of lading (which is always the case). The new Incoterms 2020 deal with such situation but nevertheless the exporter should be very well aware of possible problems in getting the complying bill of lading in time!

The second part of the seminar was devoted to the proper use of documentary collections, documentary credits and open account trading secured by payment guarantees or standby letters of credit or by a credit (trade) insurance. The presentations included many examples of both correct and incorrect  documentary credit conditions, debated possible impact of ambiguity and gaps in the contracts and payment instruments. These security and payment instruments are rather technical. In reality, their real value very much depends on the current conditions, especially taking into consideration a situation where overall business conditions are deteriorating.

As a Bill of Lading (B/L) is a key document in international trade, significant part of the course was dedicated to its features which banks must carefully examine when bills are presented under documentary credits. Most discrepancies relate to the lack of indication of the carrier, incorrect signing of B/Ls, improper on board notations and issues related to ports of loading and discharge. Practice brings to the fore many issues which can be hardly anticipated, thus it is therefore of critical importance to be aware of possible pitfalls and to learn from others how to avoid the same mistakes and errors.

The seminars confirmed that there is both interest and need to continuously provide practical updated courses on best practices in the area of international trade and finance. There are new developments, new practices and also there are many newcomers to the field. Proper contracting, mitigation of risks, arranging for suitable finance, use of security instruments, etc.. All these components have enormous impact on business well-being of companies and countries as such!

New inter-ministerial committee to make Singapore’s rules more business-friendly

A new inter-ministerial committee is look­ing at how to make Singapore’s business regula­tions more business-friendly, particularly in reduc­ing costs for small and medium-sized enterprises (SMEs).

The inter-ministerial committee on Pro-En­terprise Rules Review, set up in April, is chaired by Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong.

The other members are Transport Minister Chee Hong Tat, Home Affairs and Law Minister K Shanmugam, National Development Minister Des­mond Lee, Manpower Minister Tan See Leng, and Senior Minister of State for Trade and Industry Low Yen Ling.

The committee will look into how to lower costs for businesses – particularly SMEs – when they transact with the government, Chee told re­porters on May 24. This is especially because SMEs have cited business costs as a major challenge, he added.

“The purpose is to engage different groups of businesses – including our trade associations – to understand some of the feedback, pain points and concerns that they face regarding government rules, regulations and processes,” he said.

“We will take their feedback and sugges­tions back, and discuss with our colleagues with­in the government to see how we can make things better.”

As an illustrative example of the type of work that the committee will do, Chee cited on­going efforts to reduce regulatory costs for drone light show operators – though this is not being car­ried out by the committee itself.

These efforts involve slashing drone licens­ing fees for light show operators, by moving from a per-drone basis to a per-show basis.

Transport Minister Chee Hong Tat

Separately on May 24, Low shared further details of the previously announced Alliance for Action (AfA) on Business Competitiveness, a pub­lic-private partnership that aims to help local busi­nesses stay competitive in an uncertain global eco­nomic environment.

Established in February, the AfA focuses on three areas: manpower, land, and regulations. It holds engagements with both the public and pri­vate sectors to seek feedback and suggestions, with five such sessions already held to date.

Said Low: “We hear and we know that (busi­nesses) are concerned about rising business costs, resource constraints, and they also hope that … reg­ulations can be more flexible.”

After the engagements, the AfA will put to­gether a list of recommendations and present this to the government by end-2024.

Asked whether the inter-ministerial com­mittee’s work might overlap with the AfA’s ambit, Chee said the committee aims to “reinforce” and give “a further boost” to existing efforts.

“I see this as not working separately, but working together with our existing workstreams and stakeholders,” he added.

The Business Times

“Passing away of Hon. President Ebrahim Raisi is an immense loss for the Muslim World,” Khurram Tariq Sayeed, CACCI VP

Khurram Tariq Sayeed, Vice President CACCI & Former Vice President FPCCI called on Mr. Hassan Nourian, Consul General Islamic Republic of Iran in Karachi to offer his condolences on the tragic loss of Iran’s beloved President Honorable Ebrahim Raisi, Foreign Minister & other companions in the unfortunate helicopter crash.

Mr. Sayeed conveyed to the Consul General that “the tragic demise of President Ebrahim Raisi is an immense loss not only for Iran but also for the entire Muslim Ummah.” His dedication, leadership, and commitment to the betterment of Iran and its people will be remembered and cherished he added. During their conversation at the Consulate, they also discussed Mr. Raisi’s vision of progress, diplomacy, and peace that resonated far beyond Iran’s borders, actions that left a lasting impact on the world stage. Mr. Khurral Tariq Sayeed also mentioned President Raisi recent historic visit to Pakistan to strengthen the brotherly bond between the two countries and the number of MOU’s that were signed.

Mr. Nourian thanked Mr. Sayeed for visiting the consulate and said it is indeed a monumental loss not only for Iran but also for the Muslim world.

“The Green Alliance Initiative” webinar on May 23, 2024 – Register now!

CACCI is inviting all CACCI Officers, members and friends to join the upcoming webinar on “The Green Alliance Initiative” scheduled to take place on May 23, 2024 at 5:00 PM, Taipei Time.

Jointly organized by CACCI and the Singapore Manufacturing Federation (SMF), the one -hour webinar will introduce the Green Alliance Initiative, which aims “to help small and medium enterprises in the Asia-Pacific region to embark on their sustainability transformation, sharing of best practices, standards development, advisory support, recognition, and collectively striving towards a net-zero goal and be future-ready for Industry 5.0.” Underscoring its importance, CACCI President Mr. Peter McMullin AM said that the Green Alliance Initiative is designed to empower SMEs on their sustainability journey. Attached herewith is a background on the Green Alliance Initiative.

Tentative Agenda

5:00pm – 5:05pm: Welcome Remarks by Mr. Peter McMullin AM, President, CACCI

5:05pm – 5:40pm: Presentation on the Green Alliance Initiative by Mr. Clement Teo, Chief Sustainability Officer, Assistant Chief Executive, Singapore Manufacturing Federation

5:40pm – 5:55pm: Q&A Session

5:55pm – 5:00pm: Closing Remarks

Register in advance for this webinar:
https://us06web.zoom.us/webinar/register/WN_tV0HQdlERV2CXcbq0dz-Mg

For more details about The Green Alliance Initiative, please click HERE.

Invitation to join Timor-Leste Australia Economic & Business Conference in Dili

CACCI is pleased to convey to its members the invitation from the Australian Embassy in Timor-Leste to attend the Timor-Leste – Australia Economic and Business Forum to be held on 11-13 June 2024 in Dili, Timor Leste. The three-day event is being organized by the Australian Embassy in partnership with the Government of Timor-Leste. The complete program can be downloaded HERE.

The Green Alliance Initiative – An explanation

The Green Alliance Initiative

Founding members of the Asia Pacific Green Alliance (APAC-GA)

The Asia Pacific Green Alliance, which was launched in Singapore on 19th January 2024, is a collaboration between the SMF, the CACCI, the Singapore Business Federation (SBF), the Institute of Singapore Chartered Accountants (ISCA), and the China Council for Promotion of International Trade (CCPIT). The APAC-GA is co-chaired by the founding members, the SMF and CACCI.

What is the Green Alliance?

Well, it’s a response to the fragmented sustainability landscape we currently navigate. Across nations, we encounter diverse standards, regulations, and approaches to sustainability. This diversity, while reflective of local priorities and contexts, creates a significant challenge, especially for small and medium enterprises (SMEs).

#1: The focus on SMEs.

SMEs account for the majority of businesses worldwide and are important contributors to job creation and global economic development. They represent about 90% of businesses and more than 50% of employment worldwide. But despite their positive contribution to the economy they also play a key role in climate change. SMEs can contribute to up to 50% of Greenhouse Gas Emissions. But unlike their larger counterparts like multinational or listed companies, SMEs often lack the resources or expertise to adapt and thrive amid these varying sustainability demands and legislation around the world.

The APAC-GA aims to equip SMEs with the skills, knowledge, and support to take on the climate change challenge. Otherwise, we won’t move the needle. By leveraging the collective voice of SMEs, we will advocate for regulations that not only benefit the environment but also create a conducive ecosystem for SMEs to thrive sustainably.

#2: The focus on building capability & capacity

Most people, including business owners, know that they want to take action on climate change but often just don’t know where to start. This initiative is a significant step towards democratising sustainability. By providing SMEs with the tools and resources they need to measure and reduce their carbon emissions, we are ensuring that sustainability is not just reserved for large corporations with significant resources.

It levels the playing field and empowers smaller businesses to contribute to a greener future. It will also help large businesses by providing suppliers along their supply chain with green credentials. In recognition of the ever-evolving nature of global sustainability standards, the APAC Green Alliance will remain dynamic and adaptable. It will continuously update the various standards to stay in step with international developments and foster cross-border recognition.

Enhancing the capability and capacity of SMEs for sustainable development is not just a feel-good initiative; it’s a necessity for the future of our planet and our economies. By focusing on capability and capacity, we ensure that SMEs are not left behind in the global shift towards sustainability.

#3: The focus on relationships and collaboration

One country cannot solve this challenge alone. Focusing on relationships and collaboration is vital for launching the Asia-Pacific Green Alliance as it leverages the diverse strengths and resources of the region’s nations. The Asia-Pacific region, characterised by varying economies, cultures, and environmental challenges, demands a unified approach to effectively combat climate change and promote sustainable practices. The Green Alliance is an invitation that extends to all Chambers of Commerce and Business Associations to join this growing movement. Our collective effort will be focused on nurturing sustainable growth among SMEs across the APAC region.

#4: The focus on investing in the long-term

The Green Alliance is the work we do today, to create a better tomorrow. Focusing on long-term investments is crucial for the successful launch of the Asia-Pacific Green Alliance, as it underscores a commitment to sustainable development and environmental resilience. By prioritising long-term over short-term gains, the Asia-Pacific Green Alliance can ensure that its initiatives are not only effective in the immediate future but also contribute to a lasting positive impact on the environment and the economies of its member nations.

This Alliance is integral to building a resilient, sustainable future for the Asia-Pacific region and beyond. This can’t exist without building the next generation of leaders to build upon the work we create today.

MNCCI presents investments opportunities in Mongolian market

CACCI and the Mongolian National Chamber of Commerce and Industry (MNCCI) jointly presented a webinar on the “Mongolia’s Business Environment” on 2 May 2024.

The one-hour webinar featured MNCCI President Enkhtuvshin D., MNCCI CEO Duuren T., and MNCCI Investment & Trade Agency Officer Dulgun Barsuren, who provided detailed information about current Mongolia’s economic conditions, business opportunities and plans for further business growth.

SUMMARY

The webinar started with a presentation from MNCCI President, Mr. Enkhtuvshin D. who explained the history and functions of MNCCI , the largest representative of the business community in the country which was founded in 1960. He said that with 6,000 members distributed over the country’s 21 provinces, MNCCI advocates policy on behalf of its members and provides trade services like certificates, intellectual property services and also inspection services, among many other services. It also has an arbitration center recognized nationally and it works closely with foreign invested companies, he pointed out.

In terms of the current economic conditions, the MNCCI President said that current GDP per capita stands at US$5,000 and the economy has been growing at 5.6%, adding that the economy’s four major sectors are mining, trading, agriculture, manufacturing and logistics with mining being the most coveted sector by foreign investors.

Mr. Enkhtuvshin said that given Mongolia’s geographical conditions, China is their major foreign trade partner, with Russia being second. In fact, 80% of Mongolian exports are purchased by China, which are mostly mining commodities, he noted.

The MNCCI President reported that in the import side, Mongolia imports a lot of machinery and goods from China mostly, while gasoline and energy are imported to a lesser extend from Russia.

He further said that the mining sector is very dominant in the national economy, with more than 90% of the export as generated by the sector, including products such as cooking coal iron, copper and related commodities.

On the agricultural side, he noted that the key product is raw cashmere, but agriculture represents a fraction of all exports standing at 3%. He also reported that tourism has been recently positioned for promotion  as a credible business sector that could impact the national trade balance.

The MNCCI President said that there are a lot of export opportunities that require infrastructure investment to exploit financial and energy sectors, as well as free industrial zones located close to the Chinese border.

MNCCI CEO Mr. Duuren T. focused on a special government program introduced at the beginning of 2024 geared toward boosting the economy, the Business Recovery National Program.

He remarked that since the national economy is highly dependent on mining, the government considers that the level of export is not sufficient to effectively support the average household’s daily expenses.

Thus, the government wants to increase light industries such as food processing and other businesses, that unlike mining, do not require large capital investment but require more labor, he said.

In fact, there is an emerging demand for new labor but the supply is limited, he indicated, adding that the government in association with MNCCI is therefore introducing a training program for youth since 60% of the Mongolian population is under 35 years of age.

In addition, the MNCCI reported that:

(1) The Business Recovery National Program also includes training and consulting services, researches and surveys, exhibitions and trade fairs. It also has a digitalization dimension to help businesses hold meetings, forums, knowledge sharing, books and handbooks to upskill the Mongolian labor.

(2) MNCCI is training 10,000 youth of whom it will filter to 1,000 students and other  smaller elite groups to train them in international business practices, too.

(3) The goal, structured also in association with the Government’s Small and Medium Enterprises Agency, aims at creating an entrepreneur class ready to establish businesses on their own. The Indian Embassy, Malaysian Embassy, and the Singaporean Chamber are also cooperating in the program.

(4) MNCCI will launch this coming Autumn an equipment exposition of 500 tools to energize and incentivize SMEs’ investment into local operations.

(5) An important part of the The Business Recovery National Program also includes sharing of business information given the limited real market information available.

Investment & Trade Agency Officer Mr. Dulgun Barsuren presented the current business climate for investment opportunities, highlighting the following:

(1) Mongolia has received US$41 billion of foreign direct investment in the last 30 years, of which 70% has been invested in the mining sector and some 11% in the wholesale and retail sectors.

(2) Inflation has been decreasing since 2022 when it apparently reached its peak, standing now at 7.2%.

(3) Regarding the foreign investment’s qualitative conditions, Mongolia has signed international investing frameworks, such as the convention on the establishment of investing disputes, double taxation treaties with 26 countries and investment protection and promotion agreements with 43 countries.

(4) Certain foreign direct investment factors show positive developments such as the country’s credit rating improving to Bb minus and B plus as of June of 2023 and a lower than average taxation rate according to the World Bank.

(5) The Investment Law was approved in 2013 and its implementation has allowed foreign companies to benefit from tax incentives under the investment law. He said that the minimum foreign investment required is US$100,000.

(6) Renewable energy capacity in Mongolia could also be a very attractive investment opportunity given the geographical conditions, legal incentives and government policies promoting the establishment of green financing system to achieve net 0 carbon emission.

(7) New foreign investment targets for Mongolia also include the development of tourism within the next 2 years, together with the establishment of foreign direct invested free zones in the frontier with China.

(8) And for a country as large as Mongolia, agriculture is a business area with great potential that today still remains at the free range livestock growth.

(9) There is a plan to establish 50 free-trade zones in the Chinese border that could process agricultural products easily exportable to China. China is a huge potential market for Mongolia. However, to really profit from such proximity, Mongolia needs foreign direct investments.

A copy of the presentation can be downloaded from the CACCI website HERE.

The video recording of the presentation can be viewed at the CACCI YouTube channel HERE.

Chocolate & Juice from Timor Leste for sale

Meet Patricia from Pattys Serie – Chocolates of Timor

Patricia (or Patty) is driven by her dual passion for chocolate but also to help the local cocoa farmers of Timor-Leste. She believes (and her numbers show) that cocoa in the country is underutilised, with a large majority of the crops left to rot on the ground. By upping production, Patty believes she can support farmers to send their kids to school while providing a premium product to the Australian and Asian markets. Her product has both the President of Timor-Leste and Ambassadors of the country raving about her chocolates.

If you want to support her work, visit https://www.facebook.com/profile.php?id=100078921977274

Meet Claudia from Vera Juice

Claudia (middle in black polka dots) sees a local and international market for her juice. She got the idea when she saw a lot of waste in the markets when older fruit was not sold. She started experimenting with producing fresh juice, often from fruit that couldn’t be sold at the market. She has found a niche and also a desire from the local population to drink fresh juice in comparison to the long-lived imported varieties. Her juice is a hit. She can’t keep up with the demand. Claudia is another great example of the entrepreneurial spirit starting to be unleashed in the young Timorese community. If you want to support her work, visit: https://www.facebook.com/p/Vera-Juice-100083299823604/

Webinar on “Mongolia’s Business Environment

CACCI is inviting members and friends to participate in the webinar on “Mongolia’s Business Environment” to be held on 2 May 2024 at 2PM Singapore time.

Jointly organized by the Mongolian National Chamber of Commerce and Industry (MNCCI) and CACCI, the 60-minute webinar features two distinguished speakers – Mr. Enkhtuvshin D., MNCCI President, Mr. Duuren T., MNCCI CEO and Mrs. Erdenebayar O., Investment & Trade Agency Senior Officer, who will provide valuable information on current business trends and developments in Mongolia.

We encourage business people, investors and bankers to join the webinar to gain insights into the business opportunities available and investment prospects in the Mongolian market.

(1) AGENDA

2:00 Introduction about MNCCI and Mongolia’s Business Environment by Mr. Enkhtuvshin D, MNCCI President
2:15 MNCCI’s Business Recovery Program by Mr. Duuren T., MNCCI CEO
2:30 Investment and Business Opportunities in Mongolia
2:45 Q&A (10 minutes)
3:00 End of Webinar

(2) SPEAKERS

To join the webinar, please register HERE

Malaysia rolls out ‘Golden Pass’ to lure unicorns and VC firms

Malaysia is pushing to draw more venture capital investment from overseas as it accelerates its technology startup sector, the country’s economy minister said in an interview.

Rafizi Ramli told Nikkei Asia on the sidelines of a startup event in Kuala Lumpur last month that the government is focused on spurring the development of nascent tech companies in the Southeast Asian nation.

“It is very important to bring in mid-tier, sophisticated VC and [private equity] firms from around the world [to back tech startups],” Rafizi said.

Malaysia has long been a key regional manufacturing hub, with global names such as Intel and Airbus operating factories there. But its funding ecosystem for young tech companies has lagged way behind some of its neighbors.

Companies in Singapore and Indonesia accounted for 90% of the $7.7 billion of capital raised by Southeast Asian startups last year, according to a DealStreetAsia report, with Malaysia-based businesses securing only around $110 million.

Against this backdrop, Kuala Lumpur in April launched the Malaysia Venture Capital Roadmap, driving to position the country as “a preferred regional venture capital hub by 2030” through measures such as regulatory reform. Goals include boosting Malaysia’s venture penetration rate — venture capital investments relative to GDP — to 0.25%-0.35% in 2030 from 0.19% in 2022.

Malaysian Prime Minister Anwar Ibrahim

“As far as policy is concerned … regulations are being streamlined, but all these [changes] will not happen unless you start seeing waves of VCs coming in,” the minister said.

Malaysia recently rolled out its “Golden Pass” scheme to lure private equity firms through incentives and tax exemptions, while Prime Minister Anwar Ibrahim previously announced that sovereign wealth vehicle Khazanah Nasional would set up a 1 billion ringgit ($211 million) fund to invest in local tech companies.

The country’s two other sovereign wealth funds — the Employees Provident Fund and the Retirement Fund — and local VC firm Blue Chip Venture Capital plan to jointly invest 3 billion ringgit to establish the ASEAN Growth Initiative Fund to nurture the startup ecosystem both in Malaysia and regionally.

Rafizi said Malaysian sovereign wealth funds tend to invest in larger companies and only a small number of local VC firms support startups in the country, with foreign VC firms potentially plugging the gap.

Meanwhile, Rafizi said that recent weakness in the ringgit, which in February fell near its lowest level against the dollar in 25 years, could help entice foreign funds. “[Foreign direct investment] and portfolio investments into Malaysia are more attractive now, given the strength of the dollar,” he said.

Nikkei Asia

Iran President’s visit to Pakistan is promising for future trade agreements: Atif Ikram Sheikh

Atif Ikram Sheikh, President of the Federation of Pakistan Chambers of Commerce and Indus­try (FPCCI), has welcomed the visit of the President of Iran to Pakistan and stated that the establish­ment of a joint special economic zone between Pa­kistan and Iran is a positive step towards enhanc­ing economic relations between the two countries. Pakistan and Iran have huge opportunities for cooperation in agriculture, trade, investment and IT sectors. Both countries not only desire mutual cooperation, but have also achieved the goal of en­hancing bilateral trade up to five billion dollars un­der a treaty, he added.

Mr. Ikram said that establishing strong trade relations with Iran is a positive step for the econ­omy and we should aim to strengthen the Paki­stan-Iran agenda by enhancing cooperation in var­ious sectors such as trade, energy and agriculture. During the Iranian President’s visit to Pakistan, the possibility of signing joint agreements is promising and the establishment of a bilateral economic zone at the government-to-government level will benefit the economy.

Mr. Ikram added that Trade relations be­tween Pakistan and Iran have been established for years but the current trade volume is much lower than its potential. To enhance this, both countries need to make positive progress in bilateral trade cooperation, remove barriers in two-way trade, fi­nalize free trade agreements, and establish institu­tional links between private sectors.

The Iranian delegation also included busi­nessmen from the Iran Chamber of Commerce, In­dustry, Mines and Agriculture (ICCIMA) led by Mr. Sayed Hamed Asgari, Deputy President, who visit­ed FPCCI and had a meeting with Mr. Ikram. During the meeting, they discussed issues related to trade facilitation measures, barter trade, border trade, TIR, road transportation, banking channels, and trade potentials.

Productivity and competitive policy key to future prosperity: ACCI

Australia needs a sovereign manufacturing capability, so focused government attention on meeting that objective is welcome. However, Australia’s largest and most representative business network says careful consideration of the details is needed.

“Recent experience has starkly demonstrated how the narrowing of our industrial base has exposed the Australian economy to high levels of risk,” ACCI chief executive officer Andrew McKellar said. “We support the objective. Promoting the idea of Australia having a sovereign manufacturing and industry capability is important.

“Most importantly, the Prime Minister’s speech reflects the fundamental importance of boosting productivity and improving competition for our future prosperity. “We can’t achieve that without a competitive tax system or by handing more power to trade unions to tie businesses in ever-tighter knots.”

The proposed Future Made in Australia Act announced today will combine several previously announced initiatives, including the National Reconstruction Fund and energy transition initiatives, under one umbrella. “We see benefit in drawing together those existing threads and building on that to better co-ordinate and manage the rollout of this government investment,” Mr. McKellar said.

“There are significant opportunities in decarbonisation and the energy transition. We should seek to maximise those advantages. “If the government is to invest in driving emerging Australian industry capabilities, that investment needs appropriate consideration and scrutiny.”

ACCI Newsroom

Uzbek Ambassador Oybek Arif Usmanov calls on FPCCI President Atif Ikram Sheikh

Ambassador of The Republic of Uzbekistan Oybek Arif Usmanov called on FPCCI President Atif Ikram Sheikh at the capital office in Islamabad and discussed various issues including bilateral trade, mutual cooperation, investment, Pakistan Uzbekistan Business Council, and exchange of trade delegations. The Uzbek ambassador was accompanied by Bakurum Yusov, Economic and Trade Consul of Uzbekistan.

FPCCI President Atif Ikram Sheikh said that Pakistan is a brotherly country of Uzbekistan. Pakistan’s exports with Uzbekistan have increased gradually in the last years, and bilateral trade can be promoted in textile, pharmaceutical, rice, machinery, agriculture machinery, electro-technical and other sectors. There is a need to explore different avenues to further promote this bilateral trade.

Atif Ikram added that “we will participate in the single country exhibition to be held in Uzbekistan on June 28. Pakistanis have the problem of business visa, tourist visa, flights to Uzbekistan which should be solved. The first Gems and Jewellery Exhibition is being held in Pakistan in collaboration with TDAP and Federation of Pakistan Chamber of Commerce and Industry, in which Uzbek businessmen who belong to this sector should participate and you provide us their names too.”

Uzbek Ambassador Oybek Arif Usmanov said that Uzbekistan is organizing an International Business Forum on May 3 and 4, in which FPCCI and the business community are invited to participate; while the Minister of Uzbek Foreign Affairs will visit Pakistan on May 9-10. There will be G2B and B2B meetings. Trade between Pakistan and Uzbekistan is suffering due to Afghanistan, so there is a need to start the Afghanistan-Pakistan Corridor. Direct flights will be started from Islamabad and Lahore, resolving visa issues soon.

Pakistan should open up deep sea fishing to foreign investors: CACCI VP

A delegation led by Mr. Khurram Tariq Sayeed, CACCI Vice President and Former Vice President of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI), called on Pakistan’s Federal Minister for Maritime Affairs Mr. Qaiser Ahmed Sheikh.

Mr. Sayeed briefed the Minister that CACCI is a powerful and influential non-governmental organisation composed of the National Chambers of 27 countries of Asia and Western Pacific region, granted consultative status under the United Nations. CACCI’s objective is to cut across national boundaries to link Asia-Pacific businesspersons and promote economic growth of member countries, which account for 40% of the World population and 20% of the world’s GDP with a trade volume of US$ 11 Trillion.

While congratulating Mr. Sheikh on assuming charge as Federal Minister, Mr. Sayeed emphasized that Pakistan must create a conducive environment for foreign investment, stating that no country can flourish without FDI.

The delegation discussed in detail the potential of foreign investment in the deep-sea fishing sector enabling Pakistan to earn much-needed foreign exchange and increase its export base by tapping the vast potential that exists in this sector. He stated that in order to achieve this, Pakistan must open up deep-sea fishing to foreign investors and re-visit its policy by issuing deep sea fishing licenses to foreign companies.

Mr. Sheikh assured the delegation that the Government will look into these suggestions seriously and in order to create a consensus, a moot of all stakeholders will be called shortly.

In the end, Mr. Sayeed thanked the Minister for Maritime Affairs for meeting with CACCI delegation and presented him with a CACCI memento.

New perspectives and approaches needed to boost affordable and long-term financing for public investments in Asia and the Pacific – UN report

Governments of developing Asia-Pacific countries are in urgent need of affordable and long-term financing as many of them are being forced to choose between servicing debt in a high interest rate environment or investing in education, health and social protection for their people, according to the 2024 Economic and Social Survey of Asia and the Pacific released today by the United Nations re­gional commission.

New perspectives and approaches can solve this long-standing challenge. Donors should prior­itize the development financing needs of recipient countries over political interests. Multilateral de­velopment banks need to improve their lending ca­pacities, including through fresh capital injections. Credit rating agencies should adopt a long-term perspective and appreciate that public investments to realize shared development ambitions raises fis­cal credibility over time.

On the domestic front, the Survey recom­mends that stronger public revenue collection not only helps close the “tax gap” but also reduces fiscal risks and borrowing costs. Apart from digitalizing tax administration, policies to increase society’s willingness to pay taxes offer untapped poten­tial. Similarly, more developed capital markets are needed to unleash sizeable domestic savings in the region and to increase the supply of long-term capi­tal for investments in the Sustainable Development Goals.

“Governments of developing countries across Asia and the Pacific are victims of an unjust, outdated and dysfunctional global financial archi­tecture. They face fiscal constraints, rising borrow­ing rates with shorter loan maturity and heavy debt burdens,” said United Nations Secretary-General António Guterres.

Income inequality is also likely to widen in the region, as the value of national minimum wag­es, adjusted for inflation, has declined in several countries in recent years, further weakening the ability of lower-income groups to cope with weak job opportunities and high food prices.

“It is crucial to dispel the misconception that higher public debt levels inevitably lead to higher debt distress. In fact, strategic deployment of public debt to invest in the SDGs not only benefits people and the environment but also contributes to lower­ing public debt as a percentage of gross domestic product over the long term,” said Armida Salsiah Alisjahbana, United Nations Under-Secretary-Gen­eral and Executive Secretary of the Economic and Social Commission for Asia and the Pacific (ESCAP).

Average economic growth in developing countries of the Asia-Pacific region picked up from 3.5 per cent in 2022 to 4.8 per cent in 2023, al­though the rebound was concentrated in a few large countries. GDP growth in the region is projected to remain relatively steady, but below the pre-pan­demic trend, at 4.4 per cent in both 2024 and 2025. Uncertain inflation and interest rate trends, and escalation of geopolitical tensions and trade frag­mentation are examples of economic headwinds faced by economies of the region.

Published annually by ESCAP since 1947, the Economic and Social Survey of Asia and the Pacific is one of the longest, continuously running reports in the United Nations system, providing policymakers with valuable analyses on the cur­rent and emerging socio-economic issues and pol­icy challenges to support inclusive and sustainable development in the region.

For the full report: https://unescap.org/kp/2024/survey2024

UNESCAP

FBCCI calls for using technology in agricultural sector to increase productivity

Speakers at a meeting on March 20 underscored the need for using technology, facilitating quality seeds and implementing modern storage systems to increase agricultural productivity in the country.

They also urged the government to provide improved varieties of seeds to farmers, strengthen the food innovation process for high-yielding and climate-tolerant varieties and conduct research to achieve the desired productivity goal in the sector.

The stakeholders made the remarks while addressing a meeting organized by the Bangladesh Chambers of Commerce and Industry (FBCCI) Standing Committee on Agriculture, agro-processing and agro-based industries held at its Motijheel office in Dhaka.

They have emphasised agricultural mechanisation, the establishment of specialised cold storage facilities, and improved the supply chain and process of agricultural products to reduce production costs.

In his chief guest speech, FBCCI President Mahbubul Alam said, “We must put importance on research aimed at enhancing seed quality. Increased productivity can be achieved through the effective adoption of technology in the agricultural sector.”

He also put special importance on building a cool-chain network across the country to prevent wastage of agricultural products at various stages from production to marketing.

The farmers should get fair prices for the agricultural products and policies should be implemented to protect their interests, he said.

Chairman of PRAN-RFL Group, Ahsan Khan Chowdhury, emphasised the significance of maximising the utilisation of agricultural land and enhancing productivity, with a focus on future food security and rising demand.

He also underscored the need for increasing production in many sectors like horticulture, fisheries, livestock, poultry and pulses and oilseeds in addition to traditional crops.

Daily Sun

The original article can be read HERE.

Kowloon Chamber of Commerce Officers Meet with CACCI Executives in Taipei

A delegation from Kowloon Chamber of Commerce (KCC) led by Chairman Mr. Ernest Yuen was hosted dinner by officers of the CACCI Secretariat headed by Director-General Mr. David Hsu on March 17, 2024.

The visiting Hong Kong delegation – which was composed of members of the KCC Council — were in Taipei to attend the Taipei Chinese Medical Association International Medical Conference and to visit various organizations with which KCC has good relations such as CACCI.

During the dinner with the KCC visitors, CACCI Director-General Mr. Hsu expressed CACCI’s continued appreciation to KCC and its officers for their continued strong support of CACCI and its activities since it joined the Confederation as Primary Member in 1981. He also briefed the attendees on the ongoing and upcoming activities of CACCI, including the 38th CACCI Conference to be held on November 18-19 in Singapore, and invited them to attend these important events.

For his part, KCC Chairman Mr. Yuen, who is concurrently Vice President of CACCI, stressed the importance of CACCI as a regional association of businesspersons and its role in providing a platform for networking among members of the business community of the region – including members of KCC and other business enterprises in Hong Kong – and for promoting regional cooperation.

Kadin Indonesia, MUSIAD Indonesia to expand female entrepreneur market potential

As part of the celebrations surrounding In­ternational Women’s Day, the Indonesian Cham­ber of Commerce and Industry (Kadin Indonesia) collaborated with Müstakil Sanayici ve Isadamlari Dernegi (MUSIAD) Indonesia for a discussion titled “Cup of Change: Women Empowering Progress” on March 8, 2024.

Initiated by Kadin’s women’s empowerment division, the hybrid event was attended by more than 100 people, and was held as an effort to em­power female entrepreneurs, create a more inclu­sive national economy and bridge a deeper connec­tion between Indonesia and Turkey.

The discussions touched on topics related to aspects of women’s empowerment, especial­ly women’s entrepreneurial skills, leadership and self-development.

Carmelita Hartoto, deputy general chair coordinator for human quality improvement, re­search and technology and innovation at Kadin In­donesia, said female entrepreneurs played an im­portant role in the national economic development.

She highlighted the fact that around 64 per­cent of the total micro, small and medium enter­prises (MSMEs) in Indonesia are owned by women. In 2023, the MSME sector contributed 60.5 percent of the national gross domestic product (GDP).

“This talk show aims to increase wom­en’s leadership in entrepreneurship and also as a means of networking, especially with female entre­preneurs from Turkey,” said Carmelita, adding that the discussions could also be a means of sharing women’s personal experiences in their process of climbing the ladder to success.

“We hope that this will inspire and motivate other women so that they can explore their own potential and support the progress of women in so­ciety.”

Nihal Yazici Aygun, chair of MUSIAD Women Indonesia, expressed her appreciation for the close cooperation between Indonesia and Turkey, start­ing from knowledge sharing to opening markets between Indonesian and Turkish women entrepre­neurs.

“We hope that events like this can continue to be held to build relationships between entrepre­neurs and motivate fellow female entrepreneurs,” she said.

During the event, Tri Hanurita, deputy gen­eral chair for women’s empowerment at Kadin In­donesia, emphasized that solidarity between wom­en entrepreneurs in Indonesia must continue to be maintained in order to expand their market poten­tial.

“With the potential of women entrepre­neurs especially in the MSME sector, solidarity be­tween women entrepreneurs in Indonesia must continue to be well maintained. In addition, Indo­nesian women entrepreneurs need to be confident in continuing to network, for example with entre­preneurs from Turkey, to expand their market,” she concluded.

Jakarta Post

The original article can be read HERE.

VCCI proposes zero tax rate to be maintained for exported services

The Vietnam Chamber of Commerce and In­dustry (VCCI) has proposed a zero-value added tax (VAT) rate to be maintained for exported services, over worries that tax hikes would undermine the competitiveness of Vietnamese providers against foreign rivals.

The Ministry of Finance is drafting amend­ments to the Law on Value Added Tax which will be proposed to the National Assembly for consider­ation in the 7th meeting in May this year.

In the draft, the ministry wants to impose VAT on most exported services, instead of the zero rate as currently.

Specifically, only international transporta­tion and vehicle rental outside Vietnam and some related services are proposed to be maintained at zero tax rates, while others will be subject to VAT rate, commonly at 10%.

The reason for the amendment is that tax authorities found it difficult to distinguish between revenues from exported services and from domes­tically consumed.

VCCI said that the imposition of 10% VAT rate when exporting will make it difficult for Viet­namese services providers to compete with foreign rivals.

International trade of services increased strongly in the global market during the past two decades and is forecast to remain robust in coming years, along with the vibrant development of In­ternet and remote work solutions, VCCI said, citing statistics of the World Bank that global export of services jumped from 400 billion USD in 1980s to more than 7.2 trillion USD in 2022, with an average annual growth rate of 6.5% from 2003 to date.

The international transportation service ac­counts for a significant proportion but it is drop­ping, from 30% in 1982 to 17% in 2020, while tele­communications and IT services are rising.

Statistics showed that global telecommu­nications and IT services export is expanding at 12.3% annually on average from 2004. The rate has been rising more rapidly since the COVID-19 pan­demic.

According to the VCCI services export has huge potential for development. Vietnam’s export of services reached 20 billion USD in 2023 with an average annual growth rate of 11%, higher than the country’s gross domestic growth rate. Vietnam is running a trade deficit of services worth more than 10 billion USD each year.

Providing exported services does not re­quire huge capital like investing in manufacturing and processing industry, which is appropriate in a capital-shortage economy like Vietnam.

In addition, Internet-based services export helps promote the country’s image and increase “soft power”, VCCI said.

Vietnam is an export-oriented economy with export being an important growth driver with an average annual growth rate of nearly 15%, VCCI said, emphasising that zero VAT on exported ser­vices plays a significant role.

According to VCCI, most countries around the world are imposing zero VAT on exported ser­vices and allow tax refunds on inputs. Thus, VAT on exported services should be kept at zero, VCCI said.

Major exporting services of Vietnam include manufacturing outsource, maintenance and repair­ing, tourism and transportation, insurance, finan­cial services, IT and information services.

Vietnam Plus

The orignal article can be read HERE.

Cambodia CC and Victorian CCI reach a MoU on business collaboration

Cambodia Chamber of Commerce (CCC) and Victorian Chamber of Commerce and Industry (VCCI) have reached a Memorandum of Understanding (MoU) on Business Collaboration to promote trade, investment and economic cooperation between the two countries.

The MoU was signed in Melbourne, Australia under the witness of Cambodian Prime Minister Hun Manet, following the Australia-Cambodia Business Forum held on the side-lines of ASEAN-Australia Special Summit to commemorate the 50th Anniversary of ASEAN-Australia Dialogue Relations.

Under the MoU, CCC and VCCI agreed to develop ongoing exchange of trade and investment information (subject to confidentiality requirements), and implement referral mechanisms and servicing members of each organisation to support business between the respective countries.

CCC and VCCI will also offer assistance and support to trade and investment missions arranged by each respective organisation, and promote Trade Fairs and other special events conducted by the two sides.

Moreover, CCC and VCCI will exchange of ideas and information on a periodical basis to further improve mutual collaboration, subject to confidentiality requirements.

Khmer Times

The original article can be read HERE.

ICCIMA calls on government to remove business barriers to realize 8% economic growth

The deputy head of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) has said realizing the eight percent growth set in the Seventh National Development Plan requires the government to remove the barriers in the way of private sector businesses.

“The government support and the removal of obstacles hindering business along with the responsibility of the private sector are both emphasized by the leader of the Islamic Revolution in order to achieve the macroeconomic goals of the country,” Hossein Pirmoazen said.

“The requirement to achieve the eight percent economic growth in the Seventh five-year National Development plan is the government’s effort in removing business obstacles along with the responsibility of the private sector,” he stressed.

Tehran Times

The original article can be read HERE.

TEPAV studies Value Chain Transformation among CACCI Members

CACCI would like to share with its members the full text of the study prepared by the Union of Chambers and Commodity Exchanges of Turkey (TOBB) – through its think-tank cacci@cacci.bizion model for value chain formation among CACCI member countries”

This detailed study aims to introduce a model to enhance value chain formation among CACCI member countries, aiming to extend their export presence to major markets, especially the EU, the access to which is contingent upon alignment with its new Green Deal.

We would appreciate if leaders of Chambers analyze the study and communicate his/her observations about the study. In particular, we would like to hear your thoughts on the key takeaways pointed out in the study that stress the importance of intra-regional and cross-regional collaboration among CACCI member countries in implementing the sector-specific approach outlined in the study to enhance value chain formation. Your insights will help us determine how best to pursue the study’s  recommendations going forward and could provide guidance to many Chambers under the current shift in the supply chain structure worldwide.

The study can be downloaded HERE.

For comments please write to cacci@cacci.biz

TOBB head invites US companies to invest more in Türkiye

Rifat Hisarcıklıoğlu, the president of the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) has called on U.S. investors to in­vest more in Türkiye.

Speaking at the Türkiye-US Greentech Tech Delegation Working Dinner held in the Turkish capital Ankara, Hisarcıklıoğlu stressed that they prioritize Türkiye-U.S. relations and that the economic pillar of the relations between the two countries is getting stronger.

Deputy Trade Minister Mustafa Tuzcu, se­nior advisor to the U.S. Presidential Special Envoy for Climate, Ambassador David Thorne and Senior Vice President of the U.S. Chamber of Commerce Marty Durbin attended the event.

“We are focused on improving our commercial relations and providing a better investment and business environment. Investments have become an important dimension of our economic relations,” Hisarcıklıoğlu said.

The U.S. is the number one destination for Turkish investments abroad and that Turkish companies have invested $9.7 billion in the U.S., he noted.

“We invite U.S. investors to invest more in Türkiye. We opened a trade center in Chicago to help bilateral investment and trade. Bilateral trade volume reached a record high of $33 billion in 2023 and the upward trend continues,” he said, but stressed that trade between the two countries should be more liberal.

A free trade agreement or a preferential trade agreement would give a boost to the bilateral trade, according to Hisarcıklıoğlu. For his part, Durbin said that the U.S. Cham­ber of Commerce, has set ambitious goals between Türkiye and the U.S. on green transformation, emission reduction and climate change. The private sector is an important partner in such efforts, he added.

“As the private sector, we can accelerate the green transformation and the energy transition while at the same time strengthening energy security. If we work together, it is possible to achieve both,” Durbin said.

Hurriyet Daily News

The original article can be read HERE.

Dinner reception with new PCCI Board of Directors, Officers

The new board of directors and officers of the Philippine Chamber of Commerce and Industry (PCCI) held a special dinner reception for all the committee chairs and co-chairs at the Mayuree
II Room, Dusit Thani Manila. Photo shows PCCI officers led by its president, Enunina Mangio (seated, second from left); Honorary Chairman and Treasurer Sergio Ortiz Luis Jr. (standing, third
from left); Vice President for Regional Affairs and Membership Ma. Alegria Sibal Limjoco (standing, right), Membership and Recruitment Committee Socorro Bautista (standing, second from right); Area Vice President (AVP) for NCR, and Director for Health and Wellness Dr. Hernando Delizo (standing, left); Environment and Climate Change Committee Jose Leviste (standing, second from left); Publicity and Promotions/PR Committee Joel Tugade (seated, left); Jennylei Caberte (seated, center); Retail Trade Committee Rosemarie Bosch Ong (seated, second from right); Membership Special Services Committee Alejandro Manalac (seated, right); and Labor and Employment Service Committee Rhoda Caliwara (standing, third from right).

Other officers are Directors Samie Lim, William Co, Arturo Guerrero 3rd, Atty. Benedicta Du Baladad, AVP for Mindanao Elena Haw, AVP for Visayas Melanie Ng, Honorary President and Adviser Dr. Alberto Fenix, VP International Affairs Raymund Jude Aguilar, Franchise Committee Yvette Pardo Orbeta, Tourism Committee Christine Clamor, Health and Wellness Committee Rebecca Bucad and CSR Committee Nora Lacuna, among others.

The Manila Times

ICCIMA stresses need for improving agro-food exports

The head of the Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA)’s Food Industry Committee has said the volume of Iran’s exports of agricultural and food products is not satisfactory in comparison with other countries.

Speaking in a meeting of the mentioned committee, Abolhassan Khalili put the total value of the country’s agro-food exports in the first 10 months of the current Iranian calendar year (March
21, 2023-January 20, 2024) at $4.9 billion, saying that the conditions should be improved to boost exports in this sector.

“The export of Iran’s agricultural and food products is not in a defensible position compared to competing countries, and considering the investments made in the region in this field, it is predicted
that there is no good future for the export of this type of products,” the ICCIMA portal quoted Khalili as saying.

Tehran Times

Global Economic Survey 2024: Geopolitical uncertainty constraining global growth amid signs of recovery

Less than a week before the WTO’s 13th Ministerial Conference (MC13), the Global Economic Survey 2024 (GES2024) published today identifies geopolitical tensions and instability as the most significant cause of concern for the international business community. Uncertainty in relation to supply chains, access to raw materials, and energy security complete the top three global economic challenges for the year ahead, according to business organisations representing around 70% of total world gross domestic product.

GES2024 growth forecasts for 2024 are more optimistic than the IMF benchmark in some important emerging economies, such as the ASEAN 5, the Gulf, the Asia-Pacific region and Türkiye. Conversely, respondents from developed economies such as the EU, the US and the UK provide a more cautious growth outlook.

Business confidence is set to rise according to a vast majority of GES2024 participants, with a number of regions also expecting an increase in foreign direct investment (FDI) flows, including
the US and China, while for Europe FDI levels are expected to remain constant overall. Reacting to the survey results, Eurochambres President Vladimír Dlouhý emphasised the need for policymakers to pursue political and economic stability, boost the resilience of supply chains and work multilaterally where possible. “Geopolitical uncertainty, fragmentation and the weaponization of trade are toxic ingredients which can undermine emerging optimism across much of the world’s business community.

We need to strengthen our collective resilience without pitting ourselves against each other, by focusing public policy responses on diversifying raw material supply chains and encouraging investment in renewable energy and green products in a non-discriminatory fashion”. The GES2024 identifies multilateral approaches to trade and climate as a top priority for this year’s Brazil G20, while digital trade, MSMEs and dispute settlement are specified as key issues for the WTO’s MC13 in Abu Dhabi.

About the survey: coordinated by Eurochambres, the Global Economic Survey 2024 was conducted during November and December 2023. GES2024 provides a qualitative assessment of global economic developments, trade and other key policy challenges for the year ahead based on responses from business organisations representing around 70% of total world GDP.

Participating organisations:

• The Association of European Chambers of Commerce and Industry (Eurochambres)
• The United States Chamber of Commerce (USCC)
• Singapore Business Federation (SBF)
• Korea Chamber of Commerce and Industry (KCCI)
• Union of Chambers and Commodity Exchanges of Türkiye (TOBB)
• The China Council for the Promotion of International Trade (CCPIT)
• British Chambers of Commerce (BCC)
• Australian Chamber of Commerce and Industry (ACCI)
• Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI)
• Federation of the Gulf Cooperation Council of Chambers (FGCCC)

The full report can be accessed here.

FBCCI seeks manageable tax framework in next national budget

The Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) has urged the government to keep the tax burden within a tolerable limit in the upcoming budget.

At a meeting of its standing committee, the business leaders also called for formulating a longterm tax policy to facilitate business, trade and investment-related decision-making. They said they were ready to support the government initiative to increase revenues by providing taxes properly, adding that overburdening the businessmen with taxes will only discourage businesses, according to a release.

Several recommendations were presented in the meeting for consideration in the next national budget such as — a gradual reduction in source tax and minimum tax rates; addressing disparities in tax obligations between the public and private sectors; ensuring tax refunds within 60 days as mandated by law; enhancing coordination and automation within tax, VAT and customs administrations.

Strengthening the research and development cell of the NBR and proper recognition of the taxpayers to encourage taxpaying have also been recommended. FBCCI’s Senior Vice President Md Amin Helaly, who attended the meeting as chief guest, said, “VAT, tax, and customs currently are bleeding spots for the businessmen. We are working on a resolution in this regard with utmost importance.”

“To receive policy support from the government, all stakeholders should collaboratively prepare sector-based recommendations and present them to the government,” he added. Md Humayun Kabir, the committee’s chairman and former president of the Institute of Chartered Accountants of Bangladesh (ICAB), said, “We also want the government revenue to increase, but it should be reasonable and should be borne from businesses’ incomes; not become a burden on them.”

The event was chaired by Tapan Kumer Majumder, the committee’s director in-charge and a director of FBCCI. “We want to work as active partners with the NBR,” he said.

The event saw the participation of various prominent business leaders, FBCCI Vice President Md Munir Hossain, directors, advisory panel members, and other members of the business community.

The Business Standard

Go Negosyo, PCCI partner for MSME development

Non-profit group Go Negosyo recently met with officials of the Philippine Chamber of Commerce and Industry (PCCI) as part of efforts to intensify its partnerships with the country’s largest business groups to align with the government’s push to drive development through micro, small and medium enterprises (MSMEs).

In a statement, Go Negosyo said its founder Joey Concepcion met with key officials of the PCCI chapters in the National Capital Region. “The MSME sector is one of the platforms being pushed aggressively as a driver for the country’s growth, and as we roll out more mentoring of the MSMEs, we will need mentors coming from the respected business groups,” Concepcion said during the meeting.

Leading the PCCI were its national chairman George Barcelon, national president Nina Mangio, PCCI NCR area vice president Hernando Delizo and PCCI NCR immediate past vice president Tess Ngan Tian. Department of Trade and Industry (DTI) Undersecretary Cristina Roque, who is heading the newly formed Micro, Small and Medium Enterprises Group, was also present at the meeting.

Members of top business organizations such as the PCCI, the Philippine Franchise Association, the Philippine Retailers Association, the Federation of Filipino-Chinese Chambers of Commerce and Industry, and many more form the pool of volunteers who mentor small and aspiring entrepreneurs during the various free public entrepreneurship mentoring events held regularly by Go Negosyo.

Earlier this year, Go Negosyo said it plans to help at least 200,000 MSMEs by 2028 by giving them access to the three Ms of entrepreneurship – money (capital), markets and mentoring – through its own programs, as well as in partnership with government and other members of the private sector.

Among these programs are the public entrepreneurship mentoring events, structured learning courses, online seminars, national summits and programs focused on youth, women, OFWs, tourism and digital technology.

The non-profit organization also has programs held in cooperation with outreach programs of the government, such as its youthpreneur and agri education projects with the Department of Education, among others.

“The meeting with PCCI became an opportunity to align with the DTI, the private sector’s efforts to scale up MSMEs,” Go Negosyo said.

During the meeting, PCCI officials were also able to discuss with Roque the opportunities presented by the tourism sector, the halal industry and the need for industry data monitoring and evaluation to aid mapping and impact analysis, especially for the MSME sector.

Philstar

The original article can be read HERE.

FNCCI President Dhakal urges world business leaders to invest in Nepal

President of the Federation of Nepalese Chamber of Commerce and Industries (FNCCI), Chandra Dhakal, has urged world business leaders to explore the untapped opportunities in Nepal. He specifically encouraged global entrepreneurs to invest in Nepal’s hydro power, tourism, agriculture, and manufacturing sectors.

Addressing the World Governments Summit-2024 organized in Dubai, UAE, President Dhakal highlighted Nepal’s significant potential for economic growth and development. Positioned between the two largest markets in the world, India and China, Nepal enjoys duty-free market access to these countries and other developed nations. This implies that international investors can manufacture goods in Nepal and distribute them globally, he emphasized.

Speaking on behalf of Nepal’s private sector, President Dhakal stated, “Our government is actively working to enhance the business environment by implementing reforms to simplify procedures, reduce regulatory burdens, and increase transparency.

We are hosting the Investment Summit 2024 on April 28 and 29 this year.” He also shared that, as part of the Summit preparations, the private sector has proposed amendments to 12 laws and regulations. Dhakal announced that FNCCI would hold its Annual General Meeting on April 10, extending an invitation to business leaders worldwide.

FNCCI, the apex body of Nepali private sectors, boasts around 600,000 direct and indirect members. The World Governments Summit, themed ‘Shaping Future Governments,’ took place from February 12 to 14.

MyRepublica

ACCI welcomes Jobs and Skills Australia Commissioner appointment

The Australian Chamber of Commerce and Industry welcomes the appointment of Professor Barney Glover AO as the new Commissioner of Jobs and Skills Australia (JSA).

“Professor Glover’s appointment as the Commissioner of JSA will help provide a steady hand to guide its mission,” ACCI chief executive officer Andrew McKellar said. “JSA is essential to helping to identify our present and future skills and labour needs. We know that the best defence against recurring skills shortages is access to comprehensive data that anticipates our skills needs.”

Group of apprentices with instructor at railway engineering facility. Teacher talking to apprentices at railway engineering facility

The work of JSA allows for the application of a whole-of-economy and nationwide perspective which guides the strategic direction of the organisation. Market analysis and forecasting conducted
by JSA will play a fundamental role in informing migration strategies, ensuring a proactive response to evolving workforce demands.

“With his immediate background as vice chancellor and president of Western Sydney University, Professor Glover’s understanding of management and business leadership makes him well placed to lead JSA and ensure the agency responsible for monitoring Australia’s workforce needs is well equipped,” Mr. McKellar said.

ACCI looks forward to working closely with him and JSA over the coming years to help prevent further skills shortages.

ACCI Media Release

YEGAP to hold Online B2B Meeting with Iranian Young Entrepreneurs

CACCI’s Young Entrepreneurs Group of Asia-Pacific (YEGAP) will be holding an online B2B meeting with members of the Youth Business Club (YBC) Iran on March 6, 2024, at 2:00 PM
Taipei time.

The online gathering will serve as a pivotal juncture for fostering virtual communication and extensive networking prospects amongst young entrepreneurs from both groups, offering an avenue to delve into cooperation, partnership establishment, and fruitful trade prospects.

The session will start off with a welcome and introduction for all participants, followed by a brief portion of getting to know each other: wherein each person will talk briefly about their company, what they do, and what they’re interested in. Afterward, participants can break into smaller group chats to have informal discussions during which they can share contact information, talk about possible teamwork, and explore business chances. This is followed by a Q&A where participants can ask about the business plans or other things they may be curious about.
YEGAP members are encouraged to join the online session. Those interested can register at: https://forms.gle/YnFTLGWB58s11gBX9.

Lao PDR’s ASEAN-BAC Chairmanship Bares Policy Priority and Agenda

As the lead of ASEAN Business Advisory Council (ASEAN – BAC) 2024, the Lao National Chamber of Commerce and Industry (LNCCI), has identified its goal: To enhance connectivity and resilience of the ASEAN region.

The LNCCI, which is under the leadership of Mr. Oudet Souvannavong, has expressed its strong support of the Lao government’s ASEAN agenda of:

• Integrating and connecting economies by focusing on economic integration. This means building more stronger and meaningful connections with ASEAN and ASEAN partners;
• Forging an inclusive and sustainable future by supporting outcomes on sustainable agriculture, new ecotourism standards, a strategy for crop burning reduction and a new approach to energy infrastructure and power trade across ASEAN borders;
• Transforming for digital future by making ASEAN a leading digital economy, building deeper connections across ASEAN and using modern tools.

The LNCCI will focus on the two core values of connectivity and resilience through six key priorities, namely:

• Digital Transformation – Digital transformation can boost ASEAN growth, empowers MSMEs, and encourages responsible ethical tech use;
• Sustainable Development – Equitable access to energy, financial incentives, and renewables are key for Net Zero in Southeast Asia;
• Health Resilience – Prioritize on One ASEAN Healthcare Market, VTD R&D Manufacturing and de-risking private sector investment in healthcare;
• Foo Security – Strengthen food security, promote sustainable production, enhance information systems, and identify nutritionenhancing agricultural mechanisms for sustainable ASEAN food systems;
• Trade and Investment Facilitation – Address intra-regional trade disparity by reducing nontariff barriers, balancing trade with partners, and exploring Free Trade Agreement upgrade;
• Connectivity and Supply Chain – Crucial role of connectivity in supporting an integrated ASEAN community building process and transforming from a land-locked to a landlinked country and connectivity hub.

As the ASEAN-BAC 2024 Chairman, Lao PDR plans to implement as its Legacy Project the ASEAN Plus Supply Chain Connectivity, which aims to address the connectivity agenda by:

• Promoting development along ASEAN logistic corridors;
• Reaching new markets by mapping and enhancing new connectivity and supply chain integration;
• Integrating and consolidating the objectives and work-activities of other ASEAN-BAC Legacy Projects.

Laos assumes Chair of ASEAN Business Advisory Council in 2024

Laos, under its chairmanship of ASEAN for 2024, hosted the 99th ASEAN Business Advisory Council 2024 meeting and the 23rd Joint Business Council meeting in Luang Prabang province, which
saw numerous positive results and outlined future business connection plans.

The Lao National Chamber of Commerce and Industry (LNCCI), on behalf of the Business Advisory Council ASEAN Laos, organized the 99th ASEAN Business Advisory Council meeting and
the 23rd Joint Business Council Meeting. Members of the ASEAN Business Advisory Council from the

10 ASEAN countries took part in the meeting and members of the ASEAN Joint Business Advisory Council from various countries also participated. The meeting discussed specific directions
and solutions for carrying out ASEAN activities in 2024. Under the theme “Enhancing Connectivity and Resilience”, ASEAN is formulating a connectivity masterplan and aiming to increase resilience amid global competition and other unprecedented issues.

Deputy Prime Minister and Minister of Foreign Affairs, Mr. Saleumxay Kommasith, attended the meetings together with Minister of Industry and Commerce, Mr. Malaythong Kommasith, and
Deputy Governor of Luang Prabang province, Mrs. Siliphone Souphanthong. Representatives from Vientiane, Luang Prabang province, members of the LNCCI executive committee, the Luang Prabang provincial executive committee of commerce and industry, ambassadors to Laos from ASEAN countries, and other invited guests also attended the meetings.

Mr. Malaythong emphasised the importance of the ASEAN Business Advisory Council and said Laos continues to support the Council as a special committee that works with the ASEAN Secretariat to strengthen ASEAN through growth of the region’s businesses, especially small and medium-sized enterprises (MSMEs). In addition, Chairman of the ASEAN Business Advisory Council Lao PDR, and the President of LNCCI, Mr. Oudet Souvannavong, said “Laos’ chairmanship of the ASEAN Business Advisory Council this year will follow the same
slogan as that of the central government for Laos’ ASEAN chairmanship, namely “ASEAN: Enhanching Connectivity and Resilience”.

On the same day, the chairmanship of the ASEAN Business Advisory Council for 2024 and the hosting of the ASEAN Business and Investment Summit for 2024 were handed over to Laos. Under Laos’ chairmanship of the ASEAN Business Advisory Council, the focus will be on six priority sectors: 1) Digital transformation, 2) Sustainable development, 3) Health resilience, 4) Food security,
5) Trade and investment facilitation, and 6) Connectivity and supply chains.

Deputy Prime Minister and Minister of Foreign Affairs Mr. Saleumxay Kommasith (fourth right) last week attends the 99th ASEAN Business Advisory Council meeting together with other ministers and ASEAN business leaders.

During 2024, the Lao National Chamber of Commerce and Industry, also known as the ASEAN Business Advisory Council Lao PDR, will carry out work according to the priority plans set from
time to time, along with cooperation with the 10 ASEAN Business Advisory Councils, international organisations, and leaders of government in ASEAN and international regions. The ASEAN Business and Investment Summit and the ASEAN Business Awards will be held in October this year in conjunction with the ASEAN Leaders’ Summit and related meetings, which are held every year under the rotating ASEAN chairmanship.

ASEAN leaders, external partner countries (ASEAN plus), government representatives, the ASEAN Business Advisory Board, international organisations from various sectors, business representatives of each member country and business partners will take part in these events. Various business partners in the region will participate in seminars and workshops to share their business experiences and will hold meetings and networking sessions.

Vientiane Times

FBCCI invites Sri Lankan investors to invest in Bangladesh’s SEZs

The President of the Federation of Bangladesh Chambers of Commerce and Industry (FBCCI) Mahbubul Alam invited Sri Lankan businessmen and investors to invest in the Special Economic Zones (SEZs.) The FBCCI President made this call during a courtesy meeting with the high commissioner of Sri Lanka in Bangladesh Dharmapala Weerakkody at FBCCI’s Gulshan office. Mahbubul said the government has been establishing 100 special economic zones in Bangladesh with All kinds of facilities including oil, gas, and electricity for the investors.

Besides, one-stop service, e-platform, and many other attractive incentives are on offer to facilitate business and investment in Bangladesh. Sri Lankan businessmen can be benefitted by setting up industry here on their own or in joint ventures, he said. He said garments, pharmaceuticals, ecotourism, hospitality, etc. are some of the potential sectors in Bangladesh. If Sri Lankan investors want to invest in Bangladesh, FBCCI will provide all-out support.

Speaking at the meeting, the Sri Lankan High Commissioner Dharmapala Weerakkody said that Sri Lanka has many business entrepreneurs who are interested in doing business in Bangladesh. Besides many potential sectors, Sri Lanka receives a large number of tourists from Bangladesh every year. He said it is time to increase bilateral trade between the two countries.
FBCCI president praised the Sri Lankan Central Bank’s role in overcoming the economic challenges.

Commercial Counselor of the Sri Lankan High Commission Srimali Jayarathna, FBCCI Vice-President Shomi Kaiser, Rashadul Hossain Chowdhury (Ronni), Secretary General Md. Alamgir,
among others, were present at the meeting.

FBCCI

14th World Chambers Congress to be held in Melbourne on 2-4 September 2025

The World Chambers Congress is the largest and only international forum that enables chamber leaders and professionals to share best practices, exchange insights, develop networks, address the latest business issues affecting their communities, and learn about new areas of innovation from chambers around the world. This year, the 14th World Chambers Congress will be held at the Melbourne Convention and Exhibition Centre in the city of Melbourne, Australia on 2-4 September 2025.

The theme of its 14th edition, “Business, chambers, government: Partners for prosperity”, will explore how fostering collaboration among businesses, chambers of commerce, and governments can drive economic growth and prosperity.

Uniting more than 1,000+ business, chamber and political leaders from 100+ countries, the Congress is an ideal platform to connect public and private sector voices. Participants will also discuss the potential that mega trends in our economic landscape present and how we can leverage them for societal gain.

More information: https://wcc.iccwbo.org/

Contact: info@14wcc.au

Global investors plow into Asia data centers on AI boom

Asia is becoming the latest hunting ground for global investors in data centers, as companies from KKR & Co. to Bain Capital bet on the region’s growing computing and data storage needs following an artificial intelligence boom.

Like in the U.S., Asia is seeing a surge in demand for data centers as giants like Amazon and Alphabet’s Google boost cloud services, the recent generative AI wave fuels data and capacity requirements, and the region’s growing population spurs storage needs.

Demand in Southeast Asia and North Asia is expected to expand about 25% a year through 2028, according to Cushman & Wakefield data. That compares with 14% a year in the U.S. “It’s the U.S. first and then the trend tends to follow soon after into Europe and with a little time lag into Asia Pacific,” said Udhay Mathialagan, global head of Brookfield Asset Management’s data center business.

While it’s a diverse region, the one thing in common in Asia is that everyone is online, he said. “You need phenomenal amounts of connectivity and really good data centers.” Investors have already made moves. Bain Capital announced a deal in August to take Beijing-based data center business Chindata Group Holdings private with an implied equity value of $3.2 billion.

In September, KKR & Co. agreed to acquire a 20% stake in Singapore Telecommunications’ regional data center business for about $800 million. Blackstone announced the launch of its first wholly owned data center platform in Asia in November 2022. Including the Singtel platform, KKR sees the potential to invest $1 billion in equity on data center projects in the Asia-Pacific region in coming years, said Projesh Banerjea, the firm’s director of
infrastructure.

Returns for such investments are in line with targets for KKR’s infrastructure strategy, which are in the mid-to-high teens, he said in an interview. The bet is that Asia will eventually provide
a bigger slice of the pie. About 29% of so-called hyperscale cloud revenue — used in the industry as a proxy for market growth — is generated from Asia Pacific versus 49% from the U.S., according to Cushman & Wakefield.

By 2028, Asia’s share is expected to increase to as much as 33%, or $173 billion. “This is a super-easy investment story,” said Morgan Laughlin, global head of data center investments
at PGIM. “You have demand, which is growing with no end in sight, and you’ve got supply becoming increasingly constrained with no solution in sight.”

Asia is seeing a surge in demand for data centers as giants like Amazon and Alphabet’s Google boost cloud services, the recent generative AI wave fuels data and capacity requirements, and the
region’s growing population spurs storage needs. PGIM plans to invest as much as $3 billion in the global data center sector over the next three years, including in major Asia-Pacific markets, said
Laughlin.

The company has been negotiating for sites in Tokyo and Seoul, according to a person familiar with the matter. PGIM declined to reveal the location.

Bain Capital will continue to invest in China and Southeast Asian markets, as well as look for opportunities in developed regions elsewhere in Asia, Jonathan Zhu, partner and co-head of the firm’s
Asia private equity business, said by email. “Driven by cloud and AI, the entire Asia market will continue to grow,” Zhu said. That will “ramp up the competition for assets and resources.”

There are challenges. Data center development is time-consuming and complex — requiring a mix of expertise around real estate, technology local regulations and environmental requirements.
Asia’s highly fragmented market makes navigating these factors even more onerous.

“There is no such thing as one Asia, and each country has its own regulations, so we see more single-country operators than pan-regional ones,” said Ellen Ng, co-head of Asia real estate at Warburg Pincus. “Being able to offer products and services across multiple markets in Asia is important to users, so investors and operators try to crack this.”

China has proposed easing cross-border data controls after tightening its grip in recent years, although rules there remain vague. Singapore authorities lifted a moratorium on data center
construction in 2022 but remain selective about awarding projects, investors interviewed said, and the country has published standards for operators to ensure energy efficiency.
Warburg Pincus, through its portfolio Princeton Digital Group, has a presence in six markets and is looking for opportunities in existing and new locations, Ng said.

As part of its ESG strategy, it has also expanded to Malaysia’s Johor and Batam in Indonesia to serve Singapore as the city-state imports most of its energy and has fewer renewable power options. Warburg’s investment in the sector in Asia has totaled almost $1 billion, she said.

Data centers are also racing to improve their cooling systems, which have come under pressure from increased use of graphics processing units to handle a surge in complex computation demands
from areas such as AI. GPUs consume more power and emit more heat than central processing units, the primary component of computing engines.

In October, a fault in the cooling system of data center operator Equinix affected 2.5 million payment and ATM transactions of DBS Group Holdings and Citigroup. DBS, Singapore’s largest bank,
was later banned from acquiring new business ventures for six months. Singapore’s government also said it will study how to further strengthen the security and resilience of data centers.

“Risk-wise, government regulations around data privacy, national data sovereignty and sustainability are building out across most markets,” said Glen Duncan, Asia-Pacific director of data center
research at Jones Lang LaSalle. “If investors and operators don’t keep abreast of the changes, they can become wrong-footed.”

Bloomberg at Japan Times

Manufacturing sentiment remains upbeat in Q3, Q4 for FY24: FICCI survey

Federation of Indian Chambers of Commerce & Industry’s (FICCI) latest quarterly survey on manufacturing for Q4 FY24 projected future investment outlook as steady but industry respondents
have flagged the availability of raw materials and their escalating prices, uncertainty in global demand, shortage of skilled labour, market volatility, increased power costs, unutilised capacities, and high bank interest rates, as some of the major constraints going forward.

The survey found that 85 per cent of respondents in the current fourth quarter of the financial year 2023-24 are expecting a higher number of orders compared to 73 per cent in the previous quarter. The hiring outlook is expected to remain stable, with around 40 per cent of respondents planning to hire additional workforce in the next three months.

The FICCI survey has suggested an extension of the FAME subsidy for Electric Vehicles for at least five years until the ecosystem and supply chain mature. “The current digital process for FAME and processing of FAME subsidy claims are time-consuming, often extending between five to six months. Streamlining this process would benefit original equipment manufacturers (OEMs),” the
survey noted.

The survey has drawn responses from over 400 manufacturing units from both large and small and medium enterprise (SME) segments with a combined annual turnover of over Rs 3.4 trillion.

The Business Standard

PCCI: Economy to grow at faster pace this year

The Philippines’ biggest business group has expressed optimism about the performance of the Philippine economy, projecting it to grow faster, or by at least six percent this year.

In an interview with ANC, newly elected Philippine Chamber of Commerce and Industry (PCCI) president Enunina Mangio said “the growth will be driven by resilience and domestic consumption, increase in government spending on infrastructure projects, and a gradual recovery in some sectors.”

Mangio said she is upbeat on the business environment this year, acknowledging both the efforts of the government and the private sector to address the issue of the ease of doing business. “We are looking forward to a better year,” she said.

To make the country more attractive to investors, Mangio stressed the need for the country to strengthen its foreign relations as well as continue upskilling its workers.

She said reskilling and upskilling the laborers is important so that the country’s foreign partners will be able to appreciate the potential of Philippine workers.

Mangio officially started her term as PCCI president this month. She is the third woman president of the PCCI since its inception in 1978. She owns several businesses including the SamgyeopMasarap chain of restaurants. Prior to her post, she served as the vice president for regional affairs of the PCCI.

“I am honored by the trust and confidence that my colleagues in PCCI have entrusted in me. I will do my best to serve the chamber movement and represent the organization in the local and global
arena,” said Mangio, who is also an honorary consul of the Republic of Liberia in West Africa.

Mangio earlier vowed to continue the work that her predecessor started, and committed to proactively work with the national government in attracting investors to the Philippines.

She also aims to push for programs that will create more businesses and generate jobs across the country.

Mangio has been engaged in several businesses including Servcare International Corp., an international holding company with subsidiaries in the US, Asia and Dubai, where she sits as president.

Meanwhile, global banking giant Citi also sees the Philippine economy bouncing back with a six percent gross domestic product (GDP) growth this year after expanding by only 5.5 percent in 2023.

In a report, Citi economist for the Philippines Nalin Chutchotitham said domestic demand expansion would stay robust and remain a key driver of Philippine economic growth.

“We expect GDP growth to improve to six percent in 2024 from 5.5 percent in 2023,” Chutchotitham said.

She said the Philippines’ low unemployment and minimum wage hikes would support labor income, adding that the continued expansion of income remittances and easing inflation would also
support household consumption.

Chutchotitham said public and private investments, including foreign direct investments would pick up more strongly this year.

“The year 2023 was mired with rate hikes, volatile commodity prices and foreign exchange movements. With a more favorable domestic economic environment this year, we expect stronger
investment expansion, supported by significant legislative reforms over the past few years,” she said.

Citi said the Philippines’ fiscal deficit is expected to remain wide, but on a steady decline to three percent by 2028 as steady growth in revenues, supported by growing economy, would help partly offset substantial expansion of planned expenditures.

It added several tax reforms pending, some of which have been passed by the House of Representatives, would increase revenue collection significantly in the coming years. Chutchotitham said upside inflation risks remain, but expectations are better anchored.

“While base effects will help to bring inflation down to 3.4 percent in 2024, we continue to monitor risks from electricity and transport service costs and El Niño,” she said.

Chutchotitham said the Philippine central bank may start cutting interest rates in the third quarter of the year, ending its tightening cycle that started in May 2022.

We expect the BSP to maintain its policy rate through the first half of 2024, to help anchor inflation at around the mid-point of the policy target. We expect gradual rate cuts from the third
quarter onwards as inflation shows a steady declining trend,” she said.

She explained that the BSP is expected to maintain at least 50 basis points from the current 100-basis-point interest rate spread with the US Federal Reserve to help ensure the stability of the
peso.

Philippine Star

CEO of Shareena Garments from Pakistan Assumes Chairmanship of ATGC

Ms. Shareena Safdar Janjua, Chief Executive Officer of Shareena Garments from Pakistan, as been appointed Chairperson of the Asian Textiles and Garments Council (ATGC), one of the Product and Service Councils established under the CACCI umbrella.

Ms. Janjua and her Lahore-company have a proven track record in the manufacturing, retail and export of garments and textile industry in Pakistan, specializing mainly in uniforms for employees in healthcare, hospitality and other industries. She has been conferred the Daughter of Punjab Award by the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) in recognition of her contribution to the textile industry of the country.

Ms. Janjua is a member of the Lahore Chamber of Commerce and Industry, the Women Chamber of Commerce and Industry Lahore, the Punjab Bar Council, and the Lahore Bar Council. The Product and Service Councils of CACCI have been established with the primary aim of promoting greater business interaction among CACCI members who are in the same product or service line.

Membership in the PSCs will provide businessmen regular platform for networking, identifying and addressing issues affecting their respective sectors, finding solutions to common problems, working out specific programs to accelerate regional cooperation, particularly in the area of trade, investment, technology transfer, capital flow, and the exchange of information; and, exploring opportunities for business cooperation and joint venture, and initiating and completing business deals.

Newly-elected FPCCI president, colleagues assume office

Atif Ikram Sheikh, the newly-elected president of the Pakistan Federation of Chambers of Commerce and Industry on December 31, 2023.

Atif Ikram Sheikh, the newly-elected president of Pakistan Federation of Chambers of Commerce and Industry, and his colleagues took charge of their new positions on December 31, 2023

Former president Sheikh Irfan vacated his seat for FPCCI President Atif Ikram Sheikh, who was elected by the business community for two years. The business community across the country
had elected Atif Ikram Sheikh with 240 votes in a transparent election, while Muhammad Ali of the All Pakistan Stainless Steel Importers Merchants Association got 154 votes. A total of 440 votes were cast.

President of United Business Group SM Tanveer, UBG President Zubair Tufail, Secretary General Zafar Bakhtavari and their team members were present. Zafar Bakhtavari said that just as the chambers of commerce and industry of Pakistan, trade organisations and industrialists and businessmen of the four provinces have transferred power in a peaceful manner, the business community wishes that our politicians should go peacefully into the next election.

The News

SMF President Lennon Tan Appointed CACCI Vice President

Mr. Lennon Tan, President of the Singapore Manufacturing Federation (SMF) – which is the newest Primary Member of the Confederation  of Asia-Pacific Chambers of Commerce and Industry (CACCI) – has been appointed Vice President of the Confederation  of Asia-Pacific Chambers of Commerce and Industry (CACCI), representing the Southeast Asia region.

Mr. Tan was named to the position by the CACCI Council during the 97^th CACCI Council Meeting held on November 6, 2023 in conjunction with the 37^th CACCI Conference in Kathmandu, Nepal.

Mr. Tan is Chairman of ADERA Global Group, which is considered Singapore’s globally trusted leader in data security and automation, working in partnership with international banks, businesses and governments to advance the future of a secure world. In 2017, Lennon was named by Ernst & Young as the EY Entrepreneur of the Year for Financial Technology Enablement.

The SMF is the largest national organisation representing the interests of manufacturing and manufacturing-related industries in Singapore since 1932, with about 5,000 corporate members, comprising SMEs, MNCs and Affiliate Members.

Mr. Tan joins eight other key leaders of  CACCI Primary Members from other Asia-Pacific regions who currently serve as CACCI Vice Presidents, namely: (a) Sheikh Fazle Fahim, Immediate Past President, FBCCI; (b) Dr. Alireza Yavari, Deputy President for International Affairs, ICCIMA; (c) Mr. Khurram Tariq Sayeed, Representing FPCCI; (d) Mr. Ernest Yuen, Chairman Kowloon Chamber of Commerce; (e) Mr. Hiroshi Oshima, Special Advisor, Japan CCI;  (f)  Mr. Pradeep Kumkar Shrestha, Former President, FNCCI; (g) Mr. Henry C. S. Kao, Chairman, CIECA, Taiwan; and (h) Mr. Rifat Hisarciklioglu, President, TOBB.

VCCI says limitation on loan costs harmful to businesses

The regulation on capping enterprises’ loan costs that are considered lawful expenses when defining taxable income has hindered the development of businesses, according to the Vietnam
Chamber of Commerce and Industry (VCCI).

After consulting with businesses and experts, VCCI has proposed an amendment and supplementation of articles in Decree 132/2020 on tax management of enterprises with related-party
transactions.

According to VCCI, the limit on loan costs stipulated by Article 16 of Decree 132 is intended to fight against enterprises’ ‘thin capitalization’ problem, aiming to help ensure the financial security of
enterprises, and prevent them from borrowing too much.

‘Thin capitalization’ is understood as a highly leveraged capital structure where a company’s debt-to-equity ratio is too high. However, VCCI believes that the regulation is unreasonable and has had an adverse impact on Vietnam’s businesses, especially large corporations.

VCCI pointed out that the situation is ‘understandable’ and the thirst of capital is common in developing countries under industrialization.

It said that the limits on capital costs have affected the formation of large economic groups. The impact is contrary to the Party’s Resolution 10 released in 2017 on private economic development.

“The limitation has been hindering the development of enterprises into large corporations and discouraging private economic groups to invest in risky business fields,” the VCCI document said.

In general, when a company wants to invest in a risky project, such as large-scale production project, its holding company will come forward to borrow money from banks and re-lend to the subsidiary. This is a ‘third party related transaction’ and is covered by the regulation on loan cost ceiling.

For these reasons, VCCI believes it is necessary to amend the regulation, exempting enterprises from the obligation of satisfying requirements on loan cost limits applied to third-party related
transactions among businesses bearing the same tax rates.

Under Decree 132, the loan costs of related parties must not be higher than 30 percent of EBITDA (Earnings Before Interest, Tax, Depreciation and Amortization).

The article imposes a fixed rate of 30 percent, while not allowing enterprises to prove their actual expenses in accordance with ALP (the arm’s length principle), i.e. the parties of a transaction are
independent and on an equal footing.

In other words, if enterprises’ actual loan costs are higher than 30 percent of EBITDA, the costs won’t be recognized as lawfully deductible expenses when calculating taxable income.

In late 2022 and early 2023, the lending interest rates soared in the credit market because of macroeconomic changes, which then caused the enterprises’ loan costs to exceed 30 percent. As a result, enterprises still had to pay high interest rates for their loans, and expenses were not recognized as lawful expense items.

So, though businesses have to pay a lot for bank loans, they still have to pay high corporate income tax.

In the latest move, the Ministry of Finance (MOF) planned to amend Article 5 by excluding the determination of related parties when credit institutions don’t regulate, control and contribute capital to borrowing businesses, or are not controlled by another party.

VCCI, while commenting that the amendment is necessary, still said the amendment is not enough to cover all possible cases.

If banks and borrowing businesses have relations but they lend and borrow capital at reasonable interest rates (market interest rates), they will still have a limit of 30 percent. This is not in line with the principle of fighting against transfer pricing, the major purpose of Decree 132.

VCCI emphasized that it is unreasonable to not allow businesses to pay more than 30 percent of EBITDA on bank loan interest in a transaction that satisfies requirements to be recognized as
‘arm’s length transaction’.

VCCI believes that it would be better to allow businesses to prove that they make transactions in accordance with the ‘arm’s length transaction’ principle by comparing the transaction with other lending transactions and comparing the interest rates applied in the transaction with the average market interest rates.

If they can prove this, all of their expenses must be recognized and deductible when calculating taxable income. If MOF accepts the proposal, VCCI wants the principle to be applied from the 2022 taxable year period.

Vietnamnet

Dinner Hosted by CACCI Vice President Pradeep Kumar Shrestha

On November 5, CACCI Vice President Mr. Pradeep Kumar Shrestha hosted dinner for CACCI officers at his residence as his way of personally welcoming them to Kathmandu and thanking them for participating in the Conference. Also in attendance were a number of FNCCI officers.