CACCI Profilepatronage of H.E. Recep Tayyip Erdogan, President of Turkey. Opening Ceremony The...

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1 CACCI Profile Confederation of Asia-Pacific Chambers of Commerce and Industry Vol. LIIII, No. 12 December 2018 The Confederation of Asia Pacific Chambers of Commerce and Industry (CACCI) successfully held its 32nd CACCI Conference in Istanbul, Turkey on November 23-24, 2018, with the participation of some 450 delegates composed largely of businessmen and chamber of commerce representatives from 22 Asia-Pacific countries, led by CACCI President Mr. Jemal Inaishvili and Mr. Rifat Hisarciklioglu, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB). Held at the Ciragan Palace Kempinski, the 2018 Conference was co-hosted by CACCI with TOBB, the umbrella organization of the business community of Turkey representing 1.5 million member companies. It was organized under the patronage of H.E. Recep Tayyip Erdogan, President of Turkey. Opening Ceremony The Istanbul gathering of CACCI members focused on the theme “Asia: Expanding Boundaries”. It was designed to provide delegates a platform to exchange views on measures that the business sector and governments in the region can undertake to address the challenges and take full advantage of the current opportunities offered not just by markets in the Asia- Pacific region but by countries in other parts of the world, thereby enabling them to grow and expand beyond the domestic borders and into the global market. TOBB President Mr. Rifat Hisarciklioglu and CACCI President Mr. Jemal Inaishvili delivered their Welcome Statements during the Opening Ceremony. The Special Guests of Honor included Turkish Vice President Fuat Oktay and Turkish Trade Minister Ruhsar Pekcan, and the Keynote Speech was 32nd CACCI Conference Successfully Held in Istanbul In this Issue: CACCI Elects New President / Officers ... 3 2018 CACCI Awards Presented in Istanbul ...................................................... 4 FPCCI signs MOU with TOBB ................... 5 CACCI President Attends WCF General Council Meeting ........................................... 5 CACCI Joins 3rd ASEAN Young Entrepreneurs Carnival ............................... 5 Product & Service Councils ........................ 6 Economic Cooperation News ..................... 8 Technology .................................................... 9 Fairs & Exhibits in Asia-Pacific ................. 10 Investment & Joint Ventures in the Region ............................................... 11 Policy Updates ............................................. 12 given by Mr. Yi Xiaozhun, Deputy Director-General of the World Trade Organization. In his Welcome Remarks, TOBB President Mr. Rifat Hisarciklioglu said that the center of gravity of the world economy is shifting to Far Asia and that we are entering the Pacific century, TOBB President Mr. Rifat Hisarciklioglu welcomes delegates to the 32nd CACCI Conference CACCI President Jemal Inaishvili delivers his opening statement

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    CACCI ProfileConfederation of Asia-Pacific Chambers of Commerce and Industry

    Vol. LIIII, No. 12 December 2018

    The Confederation of Asia Pacific Chambers ofCommerce and Industry (CACCI) successfully held its 32ndCACCI Conference in Istanbul, Turkey on November 23-24,2018, with the participation of some 450 delegates composedlargelyofbusinessmenandchamberofcommercerepresentativesfrom22Asia-Pacificcountries,ledbyCACCIPresidentMr.JemalInaishviliandMr.RifatHisarciklioglu,PresidentoftheUnionofChambersandCommodityExchangesofTurkey(TOBB). Held at the Ciragan Palace Kempinski, the 2018Conferencewasco-hostedbyCACCIwithTOBB,theumbrellaorganizationofthebusinesscommunityofTurkeyrepresenting1.5 million member companies. It was organized under thepatronageofH.E.RecepTayyipErdogan,PresidentofTurkey.

    Opening Ceremony The Istanbul gathering of CACCI members focusedon the theme “Asia: Expanding Boundaries”. It was designedtoprovidedelegatesaplatformtoexchangeviewsonmeasuresthat the business sector and governments in the region canundertake to address the challenges and take full advantageofthecurrentopportunitiesofferednotjustbymarketsintheAsia-Pacificregionbutbycountriesinotherpartsoftheworld,therebyenablingthemtogrowandexpandbeyondthedomesticbordersandintotheglobalmarket. TOBBPresidentMr.RifatHisarciklioglu andCACCIPresident Mr. Jemal Inaishvili delivered their WelcomeStatementsduringtheOpeningCeremony.TheSpecialGuestsofHonorincludedTurkishVicePresidentFuatOktayandTurkishTrade Minister Ruhsar Pekcan, and the Keynote Speech was

    32nd CACCI Conference Successfully Held in Istanbul

    In this Issue:

    • CACCI Elects New President / Officers ... 3• 2018 CACCI Awards Presented

    in Istanbul ...................................................... 4• FPCCI signs MOU with TOBB ................... 5• CACCI President Attends WCF General

    Council Meeting ........................................... 5• CACCI Joins 3rd ASEAN Young

    Entrepreneurs Carnival ............................... 5• Product & Service Councils ........................ 6• Economic Cooperation News ..................... 8• Technology .................................................... 9• Fairs & Exhibits in Asia-Pacific ................. 10• Investment & Joint Ventures

    in the Region ............................................... 11• Policy Updates ............................................. 12

    givenbyMr.YiXiaozhun,DeputyDirector-GeneraloftheWorldTradeOrganization. In hisWelcome Remarks, TOBB PresidentMr. RifatHisarciklioglusaidthatthecenterofgravityoftheworldeconomyisshiftingtoFarAsiaandthatweareenteringthePacificcentury,

    TOBB President Mr. Rifat Hisarciklioglu welcomes delegates to the 32nd CACCI Conference

    CACCI President Jemal Inaishvili delivers his opening statement

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    adding that all kinds of products areproducedintheregion,indifferentqualityandscales. “With over 3 billion consumers,the largest global market is here. Both,economic growth and the increase inimports of goods and services, are abovethe world’s average. Therefore, the AsiaPacific region is becoming increasinglyimportantfortheglobaleconomy.” Mr. Hisarciklioglu also pointedouttheimportanceofIstanbulintheworld,noting that Turkey exports $ 170 billiona year and exports $ 50 billion and thatbecauseofitsgeographicalposition,ithasalargeindustrialproductionbase.Hesaidthat Turkey also has great potential andwants to develop Asia-Pacific business,adding that “Turkey aims to increase thetrade and investments between us, toestablishnewcooperationandpartnerships.WewantastrongeconomicintegrationwiththeAsia-Pacific region.”TOBBconsidersCACCImembers as strategicpartners, hesaid. CACCI President Mr. JemalInaishvili in his Opening Statement,said that the global economy is currentlyundergoing changes that have created amarket environment that is particularlydisorientingforbusinessleaders.Thetwinforcesofrisingeconomicnationalismandthe rapid adoption of digital technologiesare radically redefining globalization aswe have long known it, he said, addingthat, indeed the combinationof economicnationalism and digital integration posesseveralmajorchallenges. However,Mr.Inaishviliexpressedconfidence that with effective leadership,theregionisinastrongpositiontomaketheneededtransitionandcapitalizeonthenewopportunities. He pointed out that whilethe risks andopportunities createdby theemergingglobalizationframeworkpresenta daunting agenda for both business and

    government, few entrepreneurial culturesand governments have proved moreadaptivetochangethanthoseofAsia.“Theregion has successfully navigated everymajor economic shift over the past sevendecadesandcomeoutahead.Byworkingtogether,businessandgovernmentleaderscanensure thatAsiacontinues to succeedin the coming new era of globalization,”Mr.Inaishviliconcluded.

    Address by the Vice President of Turkey

    Turkish Vice-President FuatOktay said in his address stated thatthe Asia-Pacific region is becoming theepicenterofworldtradeandthattheAsia-Pacificcountries’shareof the totalglobaleconomy increased from 20 percent in2001,totoday’s30percent.HeemphasizedCACCI’simportantroleasakeychamberofcommerceinthedevelopmentofeconomicboundaries of Asia, regional economicintegrationandbroadeningconsultationonneweconomictrends. Vice-President Oktay also saidthatitisimportanttousethemomentuminthe conversion to sustainablepartnershipsin order to constitute economic value.“The participation of professionalorganizationsinTurkey,theprivatesector,legalrepresentatives,andTOBBasoneofthemost powerfulmembers inCACCI issatisfactory,” the Turkish Vice-Presidentadded. As regards the economicdevelopments inTurkey, he said that “byapplying powerful and practical actionplans against the speculative attack ontheTurkish economy, theNewEconomicProgram will be firmly implemented for2019-2021toensureconfidenceonTurkeyasaglobaleconomicactor.”

    Address by the Trade Minister of Turkey Turkish Trade Minister RuhsarPekcaninherAddresspointedoutthatitisimportantthatyoungentrepreneurs,womenentrepreneurs and SMEs participated

    in the CACCI conference this year andsaid that the world economy cannot beinterpretedcorrectlywithoutunderstandingdevelopments in the Asia Pacific region.MinisterPekcansaidthatAsia’sweightintheglobaleconomyisgraduallyincreasing.“WhiletheshareofAsiaPacificcountriesin the global economy was 23.1 percentin 2001, it increased to 29.7 percent in2017. In the same period, the share ofglobalexportsincreasedfrom25.8percentto 33.7 percent. It clearly shows that theAsia Pacific region has become a newcenter of gravity for global productionandtrade.”Thesedevelopmentsshowthataccelerationwill continue, shenoted.Sheaddedthat,moreover,onethingiscertain:a competitive, industrialized, urbanizedAsiamustbecomeaconsumptioneconomyin the near future. “For this reason, theAsia Pacific Region will be of strategicimportance to the Turkish economy andTurkish exporter in the next decades.Wewillcarryoutpoliciesbasedonthisglobalmega-trend.”theTradeMinisteradded.

    Keynote Speech by WTO Deputy Director General

    In his Keynote Speech, Mr. YiXiaozhun,DeputyDirector-General,WorldTradeOrganization,describednoteworthytradedevelopmentsinAsiaandhighlighted

    Turkish Vice-President Fuat Oktay, in his address, says that Asia-Pacific region is becoming the epicenter of world trade.

    Turkish Vice-President Mr. Fuat Oktay and Turkish Trade Minister Ms. Ruhsar Pekcan receive a token of appreciation from TOBB

    Mr. Yi Xiaozhun, Deputy Director-General, World Trade Organization, describes trade developments in Asia and highlights opportunities that these might present to countries in other regions such as Turkey.

    Delegates take part in the opening ceremony of the 32nd CACCI Conference in Istanbul.

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    TheCACCICouncil,theorganization’sgoverningbody,elected the office bearers for the term 2018-2020. Mr. SamirModi,Member of Executive Committee, Federation of IndianChambers of Commerce & Industry (FICCI), and ExecutiveDirectorofK.K.ModiGroup,waselectedCACCIPresident. Mr. Modi is concurrently Executive Director, K.K. Modi Group; Executive Director, Godfrey Phillips IndiaLimited;Director,IndofilIndustriesLimited;President,24SevenConvenience Stores; Managing Director, Colorbar CosmeticsPvt.Ltd.andManagingDirector,ModicarePrivateLimited.Heserved asCACCI SeniorVice President prior to assuming thePresidency. Mr.ModiisthesonofMr.K.K.Modi,whowasCACCIPresident from 2002 to 2206. In hisAcceptance Speech, Mr.Modi said: “As I’ve learned from the various CACCI eventsandactivitiesthatIattendedoverthepasttwoyears-manyofwhichwereledbyformerCACCIPresidentsincludingmyfatherMr. K. K.Modi and of course, our Immediate Past PresidentMr. Jemal Inaishvili - theCACCIpresidency is aposition thatcarrieswithitenormousresponsibilityandchallenges.KeepingtheConfederationdynamicandintheforefrontofthechambermovementintheregionisadauntingtaskforanyleader,giventhe rapid changes in the world economy and their impact onthe region’s markets. However, I am confident of workingharmoniouslywith thenew teamof officerswho, individually,

    arecommittedtopushourConfederationforward.” Theothernewly-electedCACCIofficebearersincludethefollowing:Vice Presidents -PeterMcMullin(ACCI)-SheikhFazleFahim(FBCCI)-PedramSoltani(ICCIMA)-WylerWong(KowloonChamber)-TeruoAsada(JCCI)-MagvanOyunchimeg(MNCCI)-PradeepKumarShrestha(FNCCI)-HenryKao(CIECA)-RifatHisarciklioglu(TOBB)

    Honorary Treaurer -Mr.ErnestYuen(KowloonChamber)

    Budget Commission -SteveHsieh(CIECA)-ObaidurRahman(FBCCI)-MuhammadIqbalThaheem(FPCCI)

    CACCI Elects New President and Officers

    opportunities that these might present tocountries inotherregionssuchasTurkey.He also discussed recent WTO researchonhowtechnologyischangingthefaceoftrade.Hehighlightedsomeof theWTO’srecent achievements that members canbuildontoreinforcethetradingsystem. In the course of his speech,Mr.Yi noted that attitude towards trade andmultilateralism have hardened recentlyin some countries. He said that in 2018,rising anti-trade sentiment translated into

    significant new trade actions, includingtariffs covering hundreds of billionsof dollars’ worth of goods, adding thatfurther escalation could pose real risks tothe multilateral system and by extensionto the broader trading environment. Thisdeterioration of trade relations should beof utmost concern to both governmentsandtheprivatesectorasitthreatensfuturegrowthandsharedprosperity. “To make progress on theemerging issues of greatest interest to

    businessinthefuture,astrongmultilateraltradingsystemis indispensable.Iaskyouand thecompaniesyou represent tovoiceyour concerns to your governments andask them to engage constructively withthe multilateral trading system, includingtheir participation in ongoing discussionsonWTOreform.SafeguardingtheWTOisthebestwaytokeepprotectionistpressuresatbayandtosecurethebenefitsofglobaltrade today and in the future,” Mr. Yiconcluded.

    Incoming CACCI President Samir Modi takes formal oath officiated by Past CACCI President and current Advisory Board Member Amb. Benedicto Yujuico

    (Left) Outgoing CACCI President Jemal Inaishvili hands over the CACCI flag to incoming President Samir Modi

    (Above)Newly elected president Samir Modi presides the 90th CACCI Council Meeting with new CACCI officers

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    2018 CACCI Awards Presented in Istanbul The 2018 CACCIAwards was presented at the galanightofthe32ndCACCIConferenceinIstanbul.

    8th Local Chamber Awards

    There were two winners for the 8th Local ChamberAwards.TheAegeanRegionChamberofIndustryfromTurkeywon under the Big Chamber category, and the Union ThePrimorsky Chamber of Commerce and Industry from Russiawasproclaimedthewinnerunder theSmallChambercategory.Thetwochamberswerecitedfortheiroutstandingachievementsin promoting the industrial, commercial and social well-beingof their respective communities and their contribution to thechambermovement.

    7th Asia-Pacific Young Entrepreneur Award CACCI presented the 7th Asia-Pacific YoungEntrepreneurAwardtoMs.NazaninDaneshvar,FounderandCEOofTakhfifanfromIran,whowascitedforherentrepreneurialandbusinessleadership,contributiontothesocialwell-beingofthelocalcommunity,practiceofgoodbusinessethics,andsupportofthechambermovementintheregion.ASpecialrecognitionwasalsogiventoMr.RomanNikolaevichBobylev,Found/HeadofLozaholdingfromRussia,whowascitedforhisachievementsdespitephysicallimitations.

    2nd Asia-Pacific Woman Entrepreneur Award TwonomineesweredeclaredjointWinnersofthe2ndAsia-PacificWoman EntrepreneurAward, namely:Ms. SherillR.Quintana,President/CEOofOryspaSpaSolutions,Inc.fromthePhilippines,andMs.ZeynepErkuntArmagan,Chairpersonof Erkunt Tractor Industries Ltd. from Turkey. Ms. Quintana

    andMs.Armaganwerebothcitedfor theirentrepreneurialandbusinessleadership,contributiontothesocialwell-beingofthelocalcommunity,practiceofgoodbusinessethics,andsupportofthechambermovementintheregion.

    3rd Hydropower and Clean Energy Award Thewinnerof the3rdHydropowerandCleanEnergyExcellence Award was Meghna Group of Industries fromBangladesh.Thecompanywascitedforitssignificantcontributiontothesustainablepromotion,supportanddevelopmentofcleanenergyintheAsiaPacificregion. ThewinnerswereannouncedandreceivedtheirawardsfromOutgoingPresidentMr.JemalInaishviliandnewlyelectedCACCIPresidentMr.SamirModi.

    (Above) The Aegean Region Chamber of Industry Turkey, 8th Local Chamber Award Winner Big Chamber Category with CACCI VP Mrs. Magvan Oyunchimeg (Below) The Union of Primorsky Chamber of Commerce and Industry Russia- 8th Local Chamber Award Winner Small Chamber Category with CACCI VP Mrs. Magvan Oyunchimeg from Mongolian CCI

    Nazanin Daneshvar, Founder and CEO of Takhfifan Iran, 7th Asia Pacific Young Entrepreneur Award Winner with Wellington Chamber of Commerce CEO Mr. John Milford

    Sherill Quintana, President/CEO of Oryspa Spa Solutions, Inc. from the Philippines, and Zeynep Erkunt Armağan, Chairperson of Erkunt Traktör Industries Ltd. from Turkey, recipients of 2nd Asia Pacific Woman Entrepreneur Award

    3rd Hydropower Clean Energy Excellence Award Winner Meghna Group of Industries from Bangladesh represented by its Executive Director Mr. Taif Bin Yousuf with ACWEE Chairman Mr. Gyanendra Lal Pradhan from Nepal

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    Beforethestartofthe89thCACCICouncilMeetingonNovember23,theTOBBandtheFederationofPakistanChambersofCommerceand Industry (FPCCI) signedaMemorandumofUnderstandingoutliningpossible areasof cooperationbetweenthetwoorganizations.TOBBPresidentMr.RifatHisarcikliogluandFPCCISeniorVicePresidentSyedMazharAliNasirsignedtheMOUonbehalfoftheirrespectiveorganizations.ThesigningwaswitnessedbyseveralCACCIandTOBBofficers,includingCACCIPresidentMr.JemalInaishvili.

    FPCCI signs MOU with TOBB

    CACCI President attends WCF General Council Meeting


    CACCI -represented by Deputy Director-General Mr.Amador Honrado Jr. - participated in the 3rdASEANYoungEntrepreneurs Carnival upon the invitation of the SingaporeBusiness Federation and the ASEAN Young EntrepreneursCouncil. Held on 13-14 November 2018 at the Raffles CityConventionCentre inSingapore, theCarnivalwasattendedbyyoungbusinessleadersfrom14countries. Focusing on the theme “Smart Leaders: SmartBusinesses”, the Carnival sought to strengthen ASEAN as aresilientandinnovativeregionandconnectASEAN’seconomiesand businesses through digital technology. The two-day eventdeployed the use of artificial intelligence and analytics in aspecially organized workshop to help delegates analyze theirbusinessperformance, recommend improvements to strengthentheirmanagement capabilities, and help improve the appeal to

    CACCI joins 3rd ASEAN Young Entrepreneurs Carnival

    Continued on page 6

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    Lazada Philippines Helps Entrepreneurs and SMEs

    Surmount Logistical Challenges

    Lazada Group has pledgedto support eight million eCommerceentrepreneurs and small and medium

    of eCommerce in Southeast Asia, RayAlimurung, Chief Executive Officerof Lazada Philippines said: “Havingovercometheearlychallengesofbuildingup the business and industry in a nascentlandscape, we now want to lead ourecosystemthroughtheeraofrobustdigitaltransformation.Ourfocusisoncreatingatrusted platform connecting sellers to theSoutheast Asian consumers. By enablingsellers with our technology and logisticscapabilities, we want to help sellersflourish,tobecomesustainablebusinessesthat will contribute to Southeast Asiaeconomicgrowthinthelongrun.”

    Marketing Interactive

    financier,allwithlesserhumanintervention. TheCarnival also delvedon enhancing collaborationsforfive industries namely IT and technology, agribusiness andcommodities, construction and real estate development, supplychainandlogisticsandconsumergoods.

    ThePlenarySessionsof theCarnival focusedon thefollowingtopics:

    * Future of Business in ASEAN – Key discussion topicsincluded: macroeconomic developments in ASEAN;how ASEAN will be impacted by developments inregulatoryenvironmentandtechnologyadvancements;andopportunitiesforfuturebusinessinASEAN

    * Regional Partnership with ASEAN – Key discussiontopics included: present and future regional cooperation

    and business opportunities betweenASEAN and dialoguepartners;developmentsontheBeltandRoadInitiativeandASEAN’s Roles in maritime and overland routes; futuregrowth opportunities for businesses beyond infrastructure(e.g., digital connectivity, agriculture investments,technologyandfoodsecurity)

    * SMARTInnovation–Keydiscussiontopicsincluded:howbusinesses generate new ideas and technologies to turnthemintonewbusinessrealities,sustainedbynewbusinessmodels; and how to learn from successful businessmenand their innovative business models using disruptivetechnologies.

    * SMARTFinancing–Keydiscussiontopicsincluded:whataresomeofthetraditionalfinancingmodalitiesforbusinesses;whatarethenewandemergingtrendsinbusinessfinancingoptions;andwhatpotentia;ltrolesdoescryptocurrenciesandinitialcoinofferingshaveinthenewfinancinglandscape.

    * FinancingandFundraising–ThissessionprovidedinsightsonhowASEANsmallandmediumenterprisesfareagainstpeers in their respective industries in terms of businessperformance,theimplicationsontheirvaluationandfundingrequirements.

    The Carnival featured as Guest of Honour Ms. SimAnn,SeniorMinisterofState,MinistryofCommunicationsandInformation, and Ministry of Culture, Community andYouth,Singapore.

    CACCI joins 3rd ASEAN Young Entrepreneurs Carnival

    Product & Service Councilsenterprises (SMEs) in Southeast Asia togrow and thrive by 2030. The companyalso announced its commitment to createan inclusive and sustainable eCommerceecosystem in the region and championopportunities in technology and logisticsinfrastructure to benefit its ecosystem ofsellers,consumersandlocalcommunities. Aspartofthepledge,LazadawillassistSMEstodigitizetheirbusinessesandgain better access to Internet-savvy andmobileconsumers;makeiteasierforsellerstocreatetheirownbrandsonLazada;whileleveragingthecompany’slogisticsnetworktofacilitatethetransferofgoods. At theopeningspeechofapaneldiscussion hosted by Lazada on the state

    SME Development Council

    Continued from page 5

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    Product & Service Councils

    Vietnam to Begin Testing 5G Networks Next Year

    Vietnam has ambitions to beamongtheworld’sfirstcountriestolaunch5Gnetworksin2020,withatestingphaseexpectedin2019. The launchof5Gwillbeahugeleap forward in quality for Vietnam’stelecommunications industry, saidinformationministerNguyenManhHungataninnovationeventinHanoi. 5Gisthefifthgenerationofcellularmobile communications, succeeding the4G,3G,and2Gsystems. 5G networkswill rely on denserarraysof small antennaeand thecloud tooffer data speeds up to 50 or 100 timesfasterthancurrent4Gnetworksandserveas critical infrastructure for a range ofindustries,accordingtoaReutersreport. Unlike the upgrades of cellularstandards2Gintheearly1990s,3Garoundthe newmillennium and 4G in 2010, 5Gstandardswillnotjustdeliverfasterphoneand computer data but they also helpconnectupcars,machines,cargoandcropequipment.


    Asian Textiles and Garments Council

    Oo(CEOofRecyglo). Women of the Future AwardsSoutheast Asia prize 2019 will beannouncedthiscomingMarch2019andaprize-givingceremonywillbeheldat theHilton Hotel in Singapore with a grandbanquet.

    Mizzima Myanmar

    Seven Myanmar Women Shortlisted for Women of Future

    Awards Southeast Asia

    JSevenwomenfromMyanmarareshortlisted for ‘TheWomenof theFutureAwards SoutheastAsia’ which is usuallyawarded towomen in ten fields from tencountries.

    Women of the Future (WOF)announced on November 8 that theyhad shortlisted 54 women in ten fieldsfrom Brunei, Cambodia, Indonesia,Laos, Malaysia, Myanmar, Philippines,Singapore,Thailand,andVietnam. These ten awards are forsectors in Arts and Culture, Business,Community Spirits and Public Service,Entrepreneur,MediaandCommunications,Property, Construction and Infrastructure,Professions, Science, Technology andDigital,SocialEntrepreneurandMentor. FounderofWomenof theFuture(WOP)Programme,PinkyLilaniCBEDL,said,“Weareverymuchpleasedtoseethatmanyyoungandcompetentwomenfromadiversebackground,motivatedandmentorsare nominated for these prizes.All theseshortlisted women are those who reallyworked tirelessly for capacity buildingto others and paved new paths for greatadvancementintheirfields.Andtheyneverfear challenging deep-rooted stereotypesandtraditionsformakingapositivechangeinthem.So,wewillgivethemaplatformwhichwillcomplementtheirsuccess.” All the shortlisted women areunder35andoutstandingintheirrespectivefields. The seven shortlisted MyanmarwomenareDr.TheingiWai(FounderandChiefExecutiveOfficerofGlobalAssistantCo.Ltd),PoePoeKyi(Founder/ManagingDirectorofMyanmarImperialUniversity)from Entrepreneur sector, Zar Phyu TintLwin (Co-founder and CEO Konesi),Aye Thiri Kyaw (Writer, Researcher,Humanitarian) in Community Spiritsand Public Service,Thinzar Shun LaeYi(YouthAdvocate and TV host, Under 30DialogueTV Show) in Profession sector,Thet Mon Aye (Founder of Star Ticket,Ignite Software Solutions) in Science,TechnologyandDigital,andShweYamin

    CACCI Women’s Entrepreneur Council

    Climate Change Already a Health Emergency, Say Experts

    People’shealthisbeingdamagedtoday by climate change through effectsrangingfromdeadlyheatwavesinEuropeto rising dengue fever in the tropics,accordingtoareport. Billions of hours of farmworkhasbeenlostduringhightemperaturesandglobalwarminghasdamagedtheabilitytogrowcrops,itsaid. TheLancetCountdownonHealthandClimateChangewasproducedby150expertsfrom27universitiesandinstitutionsincluding the World Health OrganizationandtheWorldBank. “The findings are clear and thestakes could not be higher,” said TedrosAdhanomGhebreyesus,theWHOdirector-general.“Wecannotdelayactiononclimatechange.Wecannotsleepwalkthroughthishealthemergencyanylonger.” Thereportsetsouttheimpactsofglobal warming on health in stark terms.”A rapidly changing climate has direimplications for every aspect of humanlife, exposing vulnerable populations toextremes of weather, altering patterns ofinfectiousdisease,andcompromisingfoodsecurity,safedrinkingwaterandcleanair,”itsaid. The Guardian

    Asian Council on Health and Education

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    Economic Cooperation News Indonesia, China Agree to Enhance

    Comprehensive Partnership ChineseAmbassadortoIndonesiaXiao Qian has stated that the Indonesianand Chinese governments have agreedto enhance bilateral comprehensivepartnershipcooperation. “Thankyoufortheeffortsofbothparties,especiallythestrongleadershipofPresident Xi Jinping and President JokoWidodo. The bilateral comprehensivestrategic partnership has been enjoyingstrongandstabledevelopment,”QiannotedataseminarontheFive-YearsofIndonesia-China Strategic and ComprehensiveCooperationheldonNovember27. Accordingtohim,thecooperationhasbeenrapidlygrowing,indicated,amongothers, by the frequent bilateral meetingsbetweenthetwoheadsofstate.Qian remarked that Jinping had visitedIndonesiatwice,whileJokowihadvisitedChinafivetimes. He also stated that the leadersof the two countries had consolidatedpolitical consensus of China`s Road andBelt Initiative, and Indonesia`s vision ofbecomingtheWorld`sMaritimeAxis. The completion of negotiationsontradeagreements,throughtheRegionalComprehensive Economic Partnership(RCEP),isconsideredcrucialinthemidstof aheated tradewarbetween theUnitedStatesandChina.

    Antara News

    N. Korean FM Visits Vietnam to Discuss Bilateral Ties

    NorthKoreanForeignMinisterRiYong-ho has discussed bilateral ties withtopVietnameseofficialsduringhis trip tothe Southeast Asian country, the North’sstatemediasaidonDecember3. Ri met Vietnamese PrimeMinister Nguyen Xuan Phuc and DeputyPrimeMinisterPhamBinhMinhduringhistripthere,accordingtotheKoreanCentralNewsAgency. “Both sides had an in-depthexchangeofviewsandreachedconsensuson the issue of further developing therelations of friendship and cooperation

    between the two countries,” the KCNAsaidinEnglish. Itdidnotprovidemoredetailsonwhattheydiscussedduringthemeetings.Local media earlier reported that Ri andthe prime minister exchanged views onVietnam’s reformpolicy, better known as“DoiMoi.” Duringhisstay there, theKCNAreportedthatRialsovisitedthemausoleumoflateVietnamesePresidentHoChiMinhand toured the Academy of AgriculturalSciencesinHalongBay.

    Korea Herald

    Vietnam and Russia Expand Joint South China Sea Gas Projects

    Vietnam andRussia areworkingmorecloselytogetherongasdevelopmentprojects in the South China Sea as theyseek to reduce their dependence on tradewithChina. Locked in a bitter territorialdispute with China over islands in thearea, Vietnam is trying to insulate itselffrom economic pressure by its giantneighbor.Russia,whoseeconomyhasbeenpummeled by Western sanctions, is alsotryingtoavoidbecomingtoodependentoneconomictieswithChina. ButcooperationbetweenVietnamand Russia to develop resources in theSouth China Sea could trigger a fiercebacklashfromBeijing. Earlier in November, RussianPrimeMinisterDmitryMedvedevtraveledto Hanoi for talks with his Vietnamesecounterpart,NguyenXuanPhuc.The tworeaffirmed theircountries’commitment tojoint natural gas development projects inthe South China Sea and other forms ofeconomic cooperation. They also agreedtodoublebilateral trade to$10billionby2020. At the meeting, local mediareportssaidPhuctookathinlyveiledswipeat China’s naval expansion in the SouthChinaSea, saying countries should try tosettle issues peacefully, while respectinginternational law.Medvedevwas reportedassupportingPhuc’scall.

    Nikkei Asian Review

    Mahathir Leans to Japan and Away for China

    “Malaysia is waiting to be yourprofit center,” declared Prime MinisterMahathirMohamadduringhisNovember7addresstocorporatefiguresandcaptainsofindustry at theMalaysia-Japan EconomicAssociationforuminTokyo. Investors can expect Mahathir’sPakatanHarapangovernmenttoupholdtheruleof law in resolvingdisputes, said the93-year-old premier, who also promisedtoremoveobstacles toforeigninvestmentin high technology and informationtechnology-basedindustriesinhiscountry. Economic ties aren’t the onlyarea of cooperation tipped to expand asMalaysia-Japan relations blossom. Tokyohopes Mahathir’s government will helppersuade Association of Southeast AsianNations (Asean) members to support itspushforfreedomofnavigationintheSouthChinaSea,akeytransportarteryforoilandfreightboundtoandfromJapan. For Malaysia – whose scandal-plagued former premier Najib RazakcontroversiallysoughtrobusteconomicandsecuritytieswithChina–deeperrelationswithJapanunderarevitalized“LookEast”policyareseenasastrategichedgeagainstNajib-eraover-relianceonBeijingand itsambitiousglobaldevelopmentfinancing. Mahathir’svisit to JapanmarkedhisthirdtriptothecountrysincebecomingprimeministerforthesecondtimeinMay.During his first stint as premier between1981 and 2003, Mahathir promoted a“LookEast”policythatpromotedJapanasamodelforMalaysia’smodernizationanddevelopment.

    Asia Times

    Australia-Indonesia Free-Trade Deal Delayed

    Australia’s free-trade deal withIndonesiawasmeant to be signed beforeChristmas but a delay means the dealprobably won’t be ratified until after thenextelection. Any deal that gets signed has tospend at least five parliamentary weeksbeingscrutinised,butthereareunlikelyto

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    beenoughsittingweeksbeforenextyear’selection. InaspeechgiventotheAustraliaIndonesia Business Council in SurfersParadise on November 13, Labor’sshadow assistant treasurerAndrew Leighsaid economic connections between the

    countriesmustdeepensoon. “Australiahastoooftenneglectedourrelationship,”hesays. “Between our two countries, westillhave too little economicactivity, andtoofewinterpersonalconnections. “Weneedarelationshipbasedon

    morethanbatik,BaliandBintang.” Thefree-tradedealwasmeant tobe a step in that direction, but it appearstobeonholdas Indonesia isangryaboutAustralia’s potentialmove of an embassytoJerusalem.

    The Herald Australia

    Amazon ‘Testing Cashierless Technology for Bigger Stores’

    Amazon is testing its cashierlesscheckout technology for bigger storeswith larger spaces and experimenting thetechnology in Seattle, The Wall StreetJournalhassaid. The technologyfunctionswell ina small store format but is harder to usein bigger spaceswith higher ceilings andmoreproduction,thereportadded,citingasource. Amazonisreportedlyconsideringusing the technology in itsWhole Foodsstores,thesupermarketchainitboughtlastyear.Therearealmost500WholeFoodsstoresintheUS,althoughthechaindoesalsohaveasmallUKpresence,withsevenstores,allofwhichareinLondon. Amazon’s checkout-free systemis already operational in certainAmazonGostores,acrossSeattle,ChicagoandSanFrancisco. It allows shoppers to buy thingswith the help of a smartphone app bytrackingwhattheypickupfromtheshelves

    andwhattheyputback,billingtheircreditcardsaftertheyleave. The company is understood tobe planning to have around 3,000 of thecashierlessstoresby2021.Itisnotknownwhereorwhen itwill beopening itsfirstUKcashierlessstore. Amazon did not immediatelyreplytoarequestseekingcomment.

    The Telegraph

    Made-in-Singapore Smart T-shirt Allows Runners to Track ECG

    A made-in-Singapore smartfitnessT-shirtwastrialedforthefirsttimeonDecember2attheone-northRun.It’s a test more commonly performed atthe doctors. But you can now track yourelectrocardiography(ECG),whichdetectscardiacabnormalities,throughyourmobilephone,byusingaT-shirt thatconnects toanapp. Developedbylocalstart-upKaHaandtextilecompanyTexLine,withthehelpoftheAgencyforScience,TechnologyandResearch (A*STAR), the smart shirt canalso track and record fitness data such asheartrate,caloriesburnedandstepcounts.


    Economic Cooperation News

    Developers aim tomarket the product bymidnextyear,withpricesexpected tobeabout 20 to 30 per cent more expensivethanaregularsportsappareloutfit. An advanced prototype of thesmartwearablewastrialedforthefirsttimeduring the annual one-north Run held onDecember2,withabout100of the2,500runnersattheeventdonningit. Most of the runners ChannelNewsAsia spoke to said that the smartfunctionswereuseful,butsomecommentedthat the design of the outfit could beimproved. “The accuracy of the ECG isquitegood,theyactuallycapturetheheartrate variance,” said 43-year-old seasonedrunnerAdrianMok, who frequently usesheartratemonitorsforhisruns.“Ithinkthecomfort level isokay,and there’sa lotofpotentialwiththeproduct.” Mr Alvin Tan, a 39-year-oldbanker, said: “This app is very usefulbecause it really helps me track myheartbeat per minute before my run andwhileI’mrunning.IttellsmewhetherI’mtakingittoorelaxed,orifI’mpushingtoomuch.”Channel

    News Asia

    People walk by the Amazon Go brick-and-mortar grocery store without lines or checkout counters, in Seattle Washington, U.S. December 5, 2016. REUTERS

    The smart fitness T-shirt contains wearable tech to track endurance, heart rate and ECG for optimal performance.

    The app can detect a runner’s ECG, which can detect cardiac abnormalities. (Photo: Ahmad Khan)

  • 10

    Fairs & Exhibits in Asia-Pacific

    DATES 2018

    NAME OF FAIR (Further Information)


    3-4 Jan.

    HEAL Expo for Green Food Ingredients & Lifestyle (Solomon Venture Capital Advisors Limited, Tel: 852-2623-2629, Email: [email protected], URL:

    Guangzhou China

    7-10 Jan.

    HKISF (Messe Frankfurt (HK) Ltd., Tel: 852-2238-9951, Email: [email protected], URL)

    Hong Kong China

    11-14 Jan.

    Midex 2019 (Nama Negar International Co., Tel: 98-21-8820-3020, Email: [email protected], URL:

    Tehran Iran

    14-17 Jan.

    WFES 2019 (Reed Exhibitions Middle East, Tel: 971-2-4090301, Email: [email protected], URL:

    Abu Dhabi U. A. E.

    16-18 Jan.

    EV Japan (Reed Exhibitions Japan Ltd., Tel: 81-3-3349-8502, Email: [email protected], URL:

    Tokyo Japan

    16-18 Jan.

    2nd Autonomous Driving Technology Expo (Reed Exhibitions Japan Ltd., Tel: 81-3-3349-8502, Email: [email protected], URL)

    Tokyo Japan

    16-18 Jan.

    5th Wearable Expo (Reed Exhibitions Japan Ltd., Tel: 81-3-3349-8502, Email: wearab[email protected], URL:

    Tokyo Japan

    16-19 Jan.

    Anfas Food Product (Antalya Expo Center, Tel: 90-242-462-2000, Email: [email protected], URL:

    Antalya Turkey

    17-19 Jan.

    IRE 2019 (All India Rubber Industries Association, Tel: 91-22-4973-0495, Email: i[email protected], URL:

    Mumbai India

    17-19 Jan.

    Café Malaysia 2019 (CEMS Conference & Exhibition (M) Sdn Bhd, Tel: 603-6211-2438, Email: [email protected], URL:

    Kuala Lumpur / Malaysia

    17-19 Jan.

    18th Garmentech Bangladesh 2019 (Zakaria Trade & Fair International / Ask Trade & Exhibitions Pvt Ltd., Tel: Zakaria: 9856260 / Ask: 91-44-4385-6156, Email: Zakaria: [email protected] / Ask: [email protected], URL)

    Dhaka Bangladesh

    DATES 2018

    NAME OF FAIR (Further Information)


    17-21 Jan.

    2019 Taiwan New Year Market Fair (TAITRA, Tel: 886-2-2725-5200, Email: [email protected], URL:

    Taipei Taiwan

    18-20 Jan.

    Vibrant Gujarat 2019 (iNDEXTb (Industrial Extension Bureau), Tel: 91-79-2325-6009, Email:, URL:

    Gandhinagar / India

    20-22 Jan.

    INTERSEC 2019 (Messe Frankfurt Middle East GmbH, Tel: 971-4-389-4500, Email: [email protected], URL)

    Dubai U. A. E.

    23-25 Jan.

    Tokyo Health Industry Show 2019 (UBM Japan Co., Ltd., Tel: 81-3-5296-1025, Email: [email protected], URL:

    Tokyo Japan

    23-25 Jan.

    SEMICON Korea 2019 (SEMI (Semiconductor Equipment & Materials International, Tel: 82-2-531-7800, Email: [email protected], URL)

    Seoul Korea

    23-26 Jan.

    IPCC 2019 – 18th International Paint, Resin, Coating, Composites and Plating Industries Fair (Banian Omid Co., Tel: 9821-7450-1000, Email: [email protected], URL)

    Tehran Iran

    24-26 Jan.

    PROPAK PHILIPPINES 2019 (International Expo Management Pte Ltd., Tel: 65-6233-6688, Email: [email protected], URL)

    Manila Philippines

    25-27 Jan.

    Nepal Agritech International Expo 2019 (Futurex Trade Fair & Events Pvt. Ltd., Tel: 91-11-2622-4721, Email: [email protected], URL:


    25-27 Jan.

    JITF 2019 (Lanka Exhibition & Conference Services (Pvt) Ltd., Tel: 94-11-2390-56062, Tel: [email protected], URL)

    Jaffna Sri Lanka

    28-30 Jan.

    Cybertech 2019 (Arrowmedia Israel Ltd., Tel: 972-76-539-0450, Email:, URL:

    Tel Aviv Israel

    28-31 Jan.

    Arab Health 2019 (Informa Life Sciences Exhibitions, Email: [email protected], URL:

    Dubai U. A. E.

  • 11

    Investment & Joint Ventures in the RegionRed Planet to Invest up to 22 Billion Yen Into New Hotels Through Japan

    Joint Venture With GreenOak

    Red Planet Japan Inc. onDecember 4 announced the formation ofa joint venture with funds managed byGreenOak InvestmentManagement K.K.,theJapanesearmofGreenOakRealEstate,thatwilldevelopRedPlanetbrandedhotelsinselectcitycentresthroughoutJapan. GreenOak shall invest up to5 billion yen into the venture, whileRed Planet Japan shall invest up to 500million yen and, with non-recourse debt,the venture shall have total capital ofapproximately 22.2 billion available tofinanceuptosixnewhotelsinJapanoverthenexttwoyears. Through the new venture, RedPlanet Japan plans to build hotels acrossmajor Japanese city centres, commencingwitha160roomhotelinHiroshima.Bothparties expect to expand the scope of theventure over the following two yearsto keep pace with the rapidly-growingJapanesetravelmarket. Red Planet Japan’s ChiefExecutive Officer, Tim Hansing, said,“Thispartnershipenablesmajorexpansionof our hotel footprint across Japan’surban centres, solidifying our position asthe leading Asian budget hotel chain tomeet increasing demand from, above all,the booming tourism surge into Japan.We are particularly pleased to be able toshowcase our guest-facing technologywhichistransformingthestayexperience.Noneofourcompetitorshavebeenabletoimplementanythinglikethis.” GreenOak has operated in Japansince 2010 and has USD 10.6 billion inassets under management worldwide.Tokyo-based GreenOak Partner, DanKlebes,commented,“Throughthisventure,GreenOakseekstoinvestinasought-after

    asset classwith abrandwhich appeals totheregionalvalue-seekingtravellervisitingJapan today. The Japanese hospitalitymarket enjoys high occupancy rates andrising rooms rates, providing high yieldsandsubstantialassetappreciation. We believe our relationshipswill assist Red Planet in identifying newopportunities in Japan, and we hopeto commit further funds to the budgethospitalitysectorinanongoingpartnershipwithRedPlanet.”

    Business Insider

    Allianz, ESR Join Forces for $1B India Logistics Venture

    Allianz is contributing half ofthe equity for an initial $225 millioncapitalisationofajointventurewithAsianwarehouse development specialist ESRto acquire logistics facilities in India,according to an announcement by theGermaninsureronNovember23. The 50:50 cooperative effort byAllianzRealEstate,thepropertyinvestmentandassetmanagementarmoftheMunich-basedfirmandHongKong-basedESR isexpectedtogrowintoa$1billionplatformmanaging warehouse assets across thesouthAsiannation,accordingtostatementsbybothAllianzandESR. The announcement of the Indiajoint venture came just two days afterAllianz unveiled its acquisition of a 50percentstakeinamainlandChinalogisticsjointventure,astheEuropeanfirm,whichcurrentlymanages$67.5billioninpropertyassets globally, seeks to reach its statedgoalofhavingAsian investmentsaccountfor10percentofitsrealestateinvestmentallocationworldwide. As Allianz grows its Asianportfolio it has targetted high growth

    markets including China and India aspriorities and seems to have a taste forlogisticsassets. “India’slogisticssectoriscomingofage,”RushabhDesai,Asia-PacificCEOofAllianzRealEstatesaidinastatement.“The sector is benefitting from a lot offavorabletrends,suchasstellarconsumptionpatterns,continuedinfrastructurespending,increasing transparency and the nation-wideimplementationofauniformindirecttaxsystem.”

    Ming Tian Di

    Siam Cement to Invest $155m at Philippine Packaging Plant

    Thailand-based cement andbuilding material firm The Siam CementPublic Company (SCC) has receivedapproval to expand its packagingpaper operations with an investment ofTHB5.115bn($155.23m)inthePhilippines. The company will use theinvestment for machinery, civil work,financial cost andworking capital. Itwillcommenceoperationsinthefourthquarterof2020. The investment will addapproximately 230,000t of productioncapacity per annum to the plant inCalumpit, Bulacan, Philippines, which isoperated by SCC subsidiary United PulpandPaper(UPPC). Investment isexpected todoubleUPPC’sexistingcapacityandaddanannual2.8milliontonnestoSCC’stotalpackagingpaper capacity inThailand,Vietnam, andthePhilippines. According to the company, theincrease in production capacitywill catertothegrowingdemandforpackagingpaperin the Philippines,while the countrywillbenefit from the supply of domestic rawmaterials.

    Nikkei Asian Review

  • 12

    Investment & Joint Ventures in the RegionInfosys and Temasek Finalise Joint

    Venture in Singapore

    The formation of an earlierannounced joint venture between Infosys

    and Singapore’s global investmentcompanyTemasekhasbeencompleted. The joint venture involvesTemasek’s wholly-owned subsidiaryTrusted Source in Singapore, withadvanced technologies such as cloud,data and analytics, cyber security,digital experiences and AI provided bythe consultancy in support of its digitaltransformationefforts. Aspartoftheagreement,Infosyswillacquirea60percentstakeinthejointventure while Temasek will hold 40 percent,aspreviouslyreported.

    Headquartered in Singapore, thejoint venture will integrate teams fromInfosys and the operations of TrustedSource, which currently delivers ITservicestoTemasekandanumberofotherclients. Theformationofthisjointventurewill see 200 employees and contractorsfrom Trusted Source play an active roleinitssuccessaswellasstafffrominfosyswhowilljoinovertimeandwillbeheadedbyShvetaArora,vicepresidentatInfosys,asCEO.

    Channel News Asia

    Policy Updates

    Hong KongHong Kong is Still Most Visited

    City in the World, Report Says, but a Protracted Trade War could be a

    Blow to Asia Tourism

    For the eighth year in a row,Hong Kong was the most visited city inthe world, beating the likes of London,ParisandNewYork,accordingtothe“Top100 City Destinations 2018” of globalmarket research company EuromonitorInternational. Bangkok kept its rank as thesecond-mostvisitedcity. The new poll highlighted thetop 100 cities based on 2017 data ofinternationalarrivals,definedasanypersonvisitinganothercountryforatleast24hoursfor a period not exceeding 12months. Itis based on publicly-available data andinterviews carried out by Euromonitorresearchers. Wouter Geerts, a travel researchconsultant at Euromonitor, said Hong

    India’s growth is still faster thanChina’s 6.5% in the same quarter, but aslowdown from the more than two-yearhighof8.2%setintheJunequarter. Some economists expect theslowdowntostretchonto theelection,orbeyond. The Statistics Ministry releaseddata showing a decline in growth of thefarmsectorandconsumerspending,raisingfears thatslowerruralwagegrowthcouldhitgrowth in thesecondhalfof thefiscalyearendinginMarch2019. The latest quarter’s annual paceof growth was lower than a Reuters pollforecastof7.4%.



    Indonesia Relaxes Palm Oil Levy Rules

    Indonesia has relaxed rules onleviesforpalmoilandderivativeproductseffective immediately following a dropin prices, according to a financeministryregulation uploaded on a governmentwebsiteonDecember5. Indonesia, the world’s topexporterofpalmoil,willnotcollectleviesfrompalmexporterswhenpricesarebelowa threshold of $570 per tonne, but will

    Kongwas likely to stay in pole position,but added that its heavy reliance on themainlandChinamarketwasrisky. “I think Bangkok does not haveanythingthatHongKongdoesnothave,soIdon’tthinktherewillbeanyreasonwhyHongKongshouldnotremainNo.1foralong time,” he said during the report’s inHongKongonDecember4.

    South China Morning Post


    India’s Economic Growth Slows to 7.1%

    India’s economic growthmoderated to 7.1% in the three monthsfromJulytoSeptember. India’s economy was draggeddown by slower consumer spending andfarm growth and weakened as PrimeMinister Narendra Modi’s governmentturns its attention to an election due byMay.

    Image: Nikkei Asian Review

  • 13

    charge$10-$25oncepricesareinarangeof$570-$619pertonne.Therangewillriseto$20-$50whenpriceshitabove$619pertonne. Thedetailsofthenewregulationwere different from the previousannouncement.Under the previous rules, exporters mustpay$20-$50per tonneregardlessofwhatpalmpricesare.Therulesforexporttaxesremainthesame.



    Japan July-Sept. Business Spending Slows on Disasters

    Capital spending by Japanesecompanies slowed in the July-Septemberquarter following a string of naturaldisastersthatweighedoneconomicactivity,governmentdatashowedonDecember3. Investment by all nonfinancialsectors for purposes such as buildingfactories and adding equipment andsoftware rose 4.5 percent from a yearearlier to 11.28 trillion yen ($99 billion),easingfroma12.8percentrisethepreviousquarter. Still, the data released by theFinanceMinistryshowedcompaniesraisedcapitalspendingforaneighthconsecutivequarter amid moves to boost productioncapacity by chemical and semiconductorfirms and increased investment in

    commercialfacilitydevelopmentprojects. Quarter-on-quarter, capitalspendingexcludingonsoftwarefellby4.0percent,thefirstdeclineinfivequarters. “Natural disasters as well asuncertainty surrounding heightened tradetensionsmayhavecontributed”totheweakcapitalexpenditurefigures,saidYoshimasaMaruyama, chief market economist atSMBCNikkoSecuritiesInc.

    The Mainichi


    Malaysia’s E-Commerce on a Growth Trajectory

    Malaysia’s e-commerce is on agrowth trajectory and has already startedbenefiting the country following the fullimplementation of 13 key programmesunder the National eCommerce StrategicRoadmap’s(NeSR)sixthrustareas. International Trade and IndustryMinisterDarrellLeikingsaide-commercevalueaddedandcontribution to thegrossdomesticproductinMalaysiacontinuouslyimprovedover aperiodof sevenyears toRM85.8 billion in 2017 from RM37.7billion in 2010, with an average annualgrowthrateof12.5percent. “While the annual percentagechangefortheperiod2015to2016wasjust9.9percent,2017sawaremarkablejumpto14.3percentasaresultofthenation’sefforts in strengthening the e-commerceindustry. “The National eCommerceCouncil (NeCC) headed by both MITIand MDEC is committed to take the(e-commerce)industryalevelhigher. “We will continue to chart thegrowth and development of e-commerceinthecountry,”hesaidinajointstatementfrom the Ministry of International TradeandIndustry(MITI)andMalaysiaDigitalEconomy Corporation (MDEC) after


    The Star

    PhilippinesPhilippine Inflation Eases to

    Four-month Low; Central Bank May Hold Off Rate Hikes

    Philippineannualinflationslowedtoa four-month low inNovember, easingpressure on the central bank to raiseinterest rates further with some analystspredictingaratecutasearlyasnextyeariftheinflationarypressurescontinuetoease. Theconsumerpriceindexrose6.0percent inNovember from a year earlier,thePhilippineStatisticsAuthority saidonDecember5,comingoffitshighestrateinnearlyadecadeinthepasttwomonthsof6.7percentamidslowerpriceincreasesinfoodandutilities. It was the lowest inflation ratesinceJulyandbelowthemedianestimateof6.2percentinaReuterspollofeconomists. The central bank had forecastinflationwithinarangeof5.8-6.6percentforthemonth. Seasonally adjusted inflationdropped 0.3 percent in November fromthepreviousmonth-thefirstsuchdeclinesinceFebruary2016. Thecentralbankislikelytoholdoff tightening further at its next policymeeting on Dec. 13, with inflationarypressures seen easing going forward,said Jiaxin Lu, economist at ContinuumEconomics.


    SingaporeMore Singapore SMEs Expect

    Lower Turnover in 2018, Cite Challenging Business Climate:

    DP Info poll

    More small and medium-sized enterprises (SMEs) in Singaporeare expecting a decline in turnover thisyear, citing the challenging businessenvironment as the main culprit for the

    Policy Updates

    Image: Free Malaysia Today

    Image: The Japan Times

  • 14

    dampened outlook, partly weighed downbytheUS-Chinatradewar. The 2018 SME DevelopmentSurveybyDPInfofoundthat15percentofSMEsprojectednegative turnovergrowthfor2018,upfrom11percentin2017,and12percentin2016.Onlytwoinfiveexpectturnovergrowththisyear. The survey, now in its 16thedition,had2,557SMEs respondentsandwas conducted between June andAugustthisyear. Accordingtothereport,19percentofSMEssaidthattheyhavebeenaffectedby theongoing tradeconflictbetween theUSandChina. Out of which 54 percent saidthat it has affected the competitivenessof exports, while 40 percent said that itreducedoverseassales.Some28percentofSMEs said that it has affectedor delayedtheirinternationalisationplans. Despite the trade headwinds,SMEs are still looking to expand abroad.AsiacontinuestobeafocalpointinSMEs’search for new markets, with greaterinterest seen in Asean, especially in thePhilippinesandThailandthisyear,saidthereport.

    Business Times


    Academia Sinica Trims Taiwan’s 2018 GDP Growth Forecast

    Academia Sinica’s Institute ofEconomics announced on December 5 acut to its forecast forTaiwan’s economicgrowth rate in 2018, reducing it to 2.64percent. That represents a drop of 0.01percentagepointsfromthelastforecastinJuly,causedbyadeteriorationinTaiwan’seconomyinthesecondhalfoftheyear. Kamhon Kan, director of theinstitute, said that in recent months thedomestic economy has experienced adownturn. Asaresult,economicgrowthhasfallenfromabove3percentinthefirsttwoquartersof theyear toabove2percent inQ3,andisforecasttodipunder2percentinQ4,henoted. Kan attributed the loss ofeconomic momentum to a sliding globaleconomy, slowing Chinese economy,sluggish sales of newApple phones andthe trade war between the United StatesandChina.

    Focus Taiwan

    ThailandThailand First in Asia to

    Ratify Fishing Pact

    Thailand will become the firstcountryinAsiatoratifytheWorkinFishingConvention,alsoknownasC188,toensurebetterworkingconditionsforfishermen. The ratification was confirmedonNovember29byLabourMinisterAdulSangsingkeo, although the newswasmetwith opposition from fisheries groupsacrossthecountry,whofeartheagreementwillincreasetheirfinancialburden. Addressing their concerns, PolGenAdulsaidtheC188,whichcontains14keyrequirements,willapplyonlytolargefishingvesselsweighingat least30gross

    Policy Updatestonnes. “Therearecurrently5,000vesselsinthiscategory,whichmeansthatatleast30,000fishermenstandtobenefitfromtheratification,”hesaid. Currently, there are 37,000trawlersregisteredinThailand--morethanhalfofwhicharesmall,traditionalfishingboats.

    Bangkok Post

    VietnamVietnam’s Major Cities are

    ‘Underhoteled’, Expert Says

    The “golden age of tourism” inVietnampresentsrobusthoteldevelopmentopportunitiesinVietnam’sbiggestcities. Troy Griffiths, deputy managingdirector of real estate consultant Savills,saidHoChiMinh andHanoi are “under-hoteledperpopulation,per travelandperairliftcapacity”. “Hotel is a particularly dynamicsector at the moment as Vietnam isexperiencing a golden age of tourism,with international tourism rising 20-30percentyear-on-yearandmoreVietnamesetravelling thanany timebefore,”GriffithstoldVnExpressInternational. “There’s a demand for five-starhotelswhichwill be really a strong assetclassforthefuture,”headded. As of November, 14.12 millionforeignersvisitedthecountry,up21.3percentyear-on-yearandexceedinglastyear’s12.9 million, according to the GeneralStatisticsOffice. South Koreans dominated thesurge at 46.5 percent, followed by HongKong (32.8 percent), Finland (29.6percent), mainland China (26.9 percent),Taiwan(15.6percent),andDenmark(15.4percent).

    VN Express International

    Image: The Straits Times

  • 15

    Published monthly by the Secretariat, Confederation of Asia-Pacific Chambers of Commerce and Industry Ernest Lin, Director General; Amador R. Honrado, Jr., Editor, Jacqueline Uy, Associate Editor

    Wendy Yang, Contributing Editor; Teresa Liu, Assistant Editor 7F-2, No. 760, Sec. 4 Bade Road, Taipei 10567, Taiwan; Tel: (886 2) 2760-1139; Fax: (886 2) 2760-7569

    Email: [email protected]; Website:

    A b o u t C A C C I TheConfederationofAsia-PacificChambersofCommerce and Industry (CACCI) is a regional grouping ofapex national chambers of commerce and industry, businessassociations and business enterprises inAsia and theWesternPacific. Itisanon-governmentalorganization(NGO)servingasaforumforpromotingthevitalroleofbusinessmenintheregion,increasingregionalbusinessinteraction,andenhancingregionaleconomic growth. Since its establiment in 1966, CACCI has

    grown intoanetworkofnational chambersof commercewitha total now of 29 PrimaryMembers from 27 countries in theregion.ItcutsacrossnationalboundariestolinkbusinessmenandpromoteeconomicgrowththroughouttheAsia-Pacificregion. AsanNGO,CACCIisgrantedconsultativestatus,Rostercategory,undertheUnitedNations.ItisamemberoftheConferenceonNGOs(CoNGO),anassociationofNGOswithUNconsultativestatus.