Business News

Stage set for growth in Tanzania

DAR ES SALAAM, Tanzania- Tanzania has tremendous untapped potential. According to the World Bank, the economy is set to grow by an estimated 7.2% this year and the government’s significant investment in the national fibre optic cable increases business and citizen access to technology creating opportunities to leapfrog technologies. Together with the emergence of disruptive technologies, the stage is set for tremendous growth opportunities. This is the view of Jane Canny, Chief Operating Officer at Business Connexion Group (http://www.bcx.co.za). Business Connexion Tanzania has been in operation since 2000, with a strong focus on financial services, telecoms, energy and mining and the public sector. “Through the creative use of technology and our partnership with the UmojaSwitch Consortium, we provide 28 banks and 200 automated teller machines in Tanzania access to a secure, shared payment infrastructure. The infrastructure is integrated with five payment switches within in East Africa to allow for international transactions, three major mobile operators to enable mobile payments and various government institutions to facilitate electronic payment collections.” “The Internet Of Things is changing the way businesses operate at a rapid pace,” says Canny. “As customers become more connected, their demands are changing and organisations simply have to evolve as the technology and how we use it changes, or face being left behind by their competitors.” She adds that there are also several ongoing projects to integrate municipals and hospitals throughout the country to enable electronic payment collections. “This is a great example where technology is being used to make consumers’ lives easier,” says Canny. “And as technology continues to evolve, so will the way in which customers interact with their service providers. In the next five years, for example, near field communication or NFC technology will be used throughout the country to enable mobile retail and bill payments. We […]

The growing middle class in India offers potential for manufacturers

Rising income levels mean that India’s huge population of around 1.2bn is becoming an increasingly important market for consumer goods, and this trend will continue during the forecast period. Private consumption expenditure will rise from US$1trn in fiscal year 2013/14 (April-March) to US$2.4trn in 2018/19. The majority of people will continue to be preoccupied with meeting their basic daily needs rather than following the latest consumer trends. However, the presence of a large number of middleclass households offers considerable potential for manu‑facturers and retailers. The rapid growth in personal incomes, combined with a more open domestic market, will make India an increasingly attractive market for foreign companies. Nevertheless, India remains a predominantly agricultural society and is home to around 40% of the world’s poorest people. Moreover, even the middle classes have limited disposable incomes. Demand for large and even medium-sized cars is still limited. Higher-quality products certainly appeal to the country’s consumers, but price remains the main determinant of the level of demand. Unreliable and limited supplies of water and electricity have forced foreign manufacturers of white goods to rethink their approach—for example, by designing smaller and more efficient washing machines and refrigerators. -The Economist

Strong International Presence at MTA VIETNAM2015 Set to Boost Vietnam’s Manufacturing Scene

Ho Chi Minh City, Vietnam, July 7, 2015 – Since August 2013, Vietnam’s benchmark purchasing managers’ index (PMI) for manufacturing has expanded every month. With its attractive location in Indochina, young population and low costs, the country has also drawn investment from renowned international brands such as Intel, LG Electronics, Samsung Electronics and Siemens[1]. This bodes well for foreign companies and investors keen to expand their business presence in Vietnam and the region, as well as for Vietnamese companies looking to extend their business networks internationally. MTA VIETNAM2015 – Strong support from international groups set to boost local manufacturing sector Launched in 2005, MTA VIETNAM2015 is to date the only manufacturing event in the country that attracts the most number of international group pavilions. This year, 346 exhibitors from 20 countries and regions, including 10 international group pavilions from Germany, Japan, Korea, Singapore and Taiwan are present. Featuring an increase of about nine per cent in exhibition space occupied from the previous year, this 13th edition of MTA VIETNAM has sold out its exhibition space many months before its opening. Spotlight on Japanese technology A stalwart group participant, the Japan External Trade Organisation (JETRO) is once again back at MTA VIETNAM, this time with a contingent comprising 22 companies that specialise in metalcutting, metalforming, metrology, cutting tools and tooling systems. Group exhibitors such as Aizaki, Asada, Enomoto, Kira, Konno, Mishima, PMT, Segawa, Towa and Rex are showcasing machines and solutions that have been specially handpicked for the local Vietnam market, to increase manufacturing productivity and quality levels. Mr. Yasuzumi Hirotaka, Managing Director from the Ho Chi Minh Office of JETRO said, “Vietnam’s manufacturing industry is in the growth cycle and shows promise of further expansion. We see opportunities for collaboration between Japanese and Vietnamese companies in the sector and will […]

Li & Fung’s Dr William Fung discusses the future of product manufacturing

Dr William Fung’s company is a vital cog in almost every major supply chain. But how will soaring costs alter his sourcing strategy? “In the next five years, prices are only going in one direction.” If you were looking to crown the most influential, best-connected company most people have never heard of, you might start your search at one of the most conspicuous addresses in Hong Kong. Looming over the city’s bustling Sham Shui Po district is the headquarters of Li & Fung, the sourcing and logistics Company that provides the operational heft behind China’s dominance of consumer goods. Li & Fung does not shout about its achievements, but its value as a power broker in global supply chains inspires awe among its Western rivals. If it is Made in China, Li & Fung knows about it and probably helped it on the journey from factory to shelf. Founded in Guangzhou, China, in 1906, the company has become increasingly vertically integrated and now offers everything from product design and material sourcing to shipping services for retailers and manufacturers including Walmart, Toys “R” Us and Avon. It distributes in more than 40 countries and turned over US$15bn in 2010, with profits up 27% at US$551m. In July 2011, it announced the acquisition of five companies to boost its design and distribution arms. Change is in the air, however, for a company that set itself an ambitious (overambitious, say some analysts) target of doubling operating profit in the three years to 2013. Chairman Victor Fung will step down by 2012 to be replaced by his brother, Dr William Fung, currently Group Managing Director. Meanwhile, the landscape is shifting, according to a new report from KPMG International – Product Sourcing in Asia Pacific – which identifies rising manufacturing capabilities in Bangladesh, Vietnam and other […]

City of Sydney – fit for now and the future

The City of Sydney is supporting business and residents while cementing Sydney’s place as a regional powerhouse. A record budget of nearly $2 billion over the next decade will provide the infrastructure necessary to support economic and population growth while attracting trade, tourism and high-value jobs. This investment is on top of the round-the-clock services delivered every day to meet the needs of over one million people who visit the City each day. “The City of Sydney is ‘fit for the future’ and has the scale and capacity to ensure Sydney continues to deliver its potential as a thriving, business-friendly and liveable global city,” Lord Mayor Clover Moore said. “The City has more than 400 infrastructure projects planned for the next 10 years. These will generate tens of millions of dollars in new contracts for businesses of all sizes and support around 2,000 new jobs a year. “This comes on top of the $3.9 billion worth of residential and commercial developments we have recently approved, including two new residential buildings in the heart of the city that will be over 230m tall.” “This enormous combination of public and private investment is a vote of confidence in the City of Sydney.” The Independent Pricing and regulatory Tribunal (IPAR) is currently assessing the City’s response to the NSW Government’s ‘Fit for the Future’ program. Members of the public are also able to tell IPART what they think of their councils between now and July 31. Through prudent financial management and forward planning, the City of Sydney has the scale and capacity to meet Sydney’s current and future needs. The NSW Treasury Corporation, TCorp, rates the City’s Financial Sustainability as ‘Strong’ with a positive outlook – the only one of 152 NSW Councils to receive this rating. The City is leading its own […]

Philippines to ride global manufacturing growth wave

With Asia well poised for future economic success, the Philippines is slated to be one of the region’s growth leaders, as long as it continues to reduce corruption, invest public monies to build key infrastructure, and solve its electric generation and transmission issues. This is a according to Competitiveness: Catching the next wave: The Philippines a report released by Deloitte Touche Tohmatsu Limited (Deloitte Global). Additionally, the report projects the key industries that will likely drive the Philippines growth over the next 20 years include manufacturing, business process outsourcing (BPO), construction, transportation and logistics, and information and communications. The report also outlines steps the government can take to make the region more attractive to business, including increasing corporate governance and reducing corruption. “The strong growth in global manufacturing to 2033 will drive world growth, and this presents the Philippines with great potential to integrate into the global supply chain of high-value manufacturing,” said Gary Coleman, Managing Director, Global Clients and Industries, Deloitte Global. “If the government makes smart investments in infrastructure—including roads and harbors—that would help to boost the construction and transportation sectors and lead to higher productivity growth in the coming years as well.” While the report notes that the BPO industry will be a source of employment for new graduates, it cautions that to achieve long-term growth, the Philippines must reduce unemployment and the government must implement policies to improve the business climate. It also urges the government to reduce bribery and corruption through reform measures that include the procurement process, civil servant training and wages, and instituting reporting and enforcement mechanisms. Additional industry driving growth highlights include: Manufacturing: To help boost manufacturing initiatives, the government should introduce a number of special industrial zones that benefit from a combination of supportive government policies. The Philippines should also begin […]

Showa Denko expands utilisation of used plastic to produce ammonia

Showa Denko has completed the expansion of used-plastic gasification facility at the Kawasaki Plant. As part of its basic chemicals business, SDK is producing ammonia at Kawasaki. SDK processes used plastic to obtain part of hydrogen necessary for the synthesis of ammonia. As an industrial material, ammonia is used in the production of synthetic fibers and metal surface treatment for automotive and construction machinery parts. The demand for ammonia used for removing nitrogen oxides contained in exhaust gas from thermal electric power plants and other facilities has been increasing in recent years. Furthermore, SDK’s liquefied ammonia (trade name: Ecoann(TM)) has been approved and rated high as “eco-friendly goods for procurement” by major electric power companies because the product is partly based on used plastic. In January 2015, SDK’s plan to raise the percentage of feedstock from used plastic was recognized by the Ministry of Economy, Trade and Industry as eligible for the ministry’s interest subsidy program for the promotion of effective utilisation of resources. Under the program, SDK received a loan from the Development Bank of Japan Inc., and invested in the expansion of used-plastic gasification facility at the Kawasaki Plant*. After the expansion, the percentage of hydrogen from used plastic to produce Ecoann(TM) will increase to 65%. The method to produce hydrogen from used plastic entails significantly lower environmental burden compared to the conventional methods to produce hydrogen from petroleum-derived raw materials. By providing products indispensable for protecting the environment and improving social infrastructure, SDK will continue meeting the expectations of society and local communities. Showa Denko K.K. is a major manufacturer and marketer of chemical products serving a wide range of fields ranging from heavy industry to the electronic and computer industries. SDK makes petrochemicals (ethylene, propylene), aluminum products (ingots, rods), electronic equipment (hard disks for computers) and […]

Vitafoods Asia Conference 2015: Translating Science into Good Business

New Expanded Content Programme & Exclusive Content from Frost & Sullivan Singapore, 20 Jun 2015 – Vitafoods Asia, the only event dedicated to the nutraceutical, functional food and beverages, and dietary supplement industries in Asia, today announces the programme for its second edition of the Vitafoods Asia Conference. Running alongside the exhibition from 2 – 3 September at AsiaWorld-Expo in Hong Kong, the conference boasts a brand new format and an increase in content offering. Delegates can expect to hear from well-respected industry experts across segments and job functions during the two-day event. Speakers include professionals from A*STAR, Agence Tesla, ASEAN Food & Beverage Alliance, BrandHive, The Chinese University of Hong Kong, Chung Shan Medical University, Duke-NUS Graduate Medical School, EAS Strategies, Euromonitor International, Food Industry Asia, Frost & Sullivan, HealthBrandBuilders, The HealthyMarketingTeam Ltd, Herbalife Taiwan Inc., Hong Kong University of Science and Technology, Innova Market Insights, International Society for Nutraceuticals and Functional Foods, Kaohsiung Medical University, National Yang-Ming University, and NSF International. Mr Chris Lee, Portfolio Director, Vitafoods Events, shared, “Building upon the success of our European event in May, the Vitafoods Asia Conference will bear a similar programme structure. We continue to highlight best practice, with market research and development in areas such as weight management and healthy ageing. The Conference also focuses more on regulatory aspects this year, in response to industry demand. Through this platform, we aim to facilitate dialogue, knowledge-sharing, and innovation within the industry, so as to facilitate the development of better and safer end-products for the consumer.” Two Streams: Connecting Science with Business With sessions that cover both commercial and science aspects of business, delegates are presented with a full picture of the production cycle from idea to retail shelves. Content is divided into two distinct, parallel streams: Your Business focuses on how […]

16th China (Guzhen) International Lighting Fair in Zhongshan City in October

The 16th China Guzhen International Lighting Fair (Autumn Fair) will be held from 22-26 October, 2015 at the Guzhen Convention and Exhibition Centre in Zhongshan City, Guangdong Province. Guzhen, which is home to large industry clusters of lighting production and trade and has an annual output valued in the billions, is one of the world’s four major professional lighting production bases and sales markets. This year, the number of visitors to the 15th Guzhen Lighting Fair (Spring Fair) reached new highs, attracting a total of over 250,000 domestic and foreign visitors. After two years of development in the new procurement model of “One Exhibition Hall + Five Trade Marts”, the fair will bring together more than 1,800 high-quality lighting industry exhibitors covering lighting, lamps, LED lighting and electrical products and provide buyers a 700,000-square metre one-stop, highly cost-effective sourcing platform. The Guzhen Lighting Market has always been known to the world for its high quality, best wholesale price, trade convenience, high integrity and highly competitive market. This session of the Fair will launch lighting pavilions featuring creative decoration and an electrician’s fitting area. The 2015 edition of the Guzhen Lighting Fair will integrate the resources of the local lighting industry to roll out a special ‘Business Matching Service’ for overseas buyers and local premier suppliers. An experienced team of business matching specialists will offer this service with on-the-spot meetings for overseas buyers looking for anything from lighting components to end products. Onsite registration will incur a 100 RMB registration fee, which will be waived for pre-registration; pre-registration also allows visitors to enjoy VIP services provided by the organizers. During the Guzhen Lighting Fair, organizers will also open the first session of the Guzhen Lighting Culture Festival, where designers from different parts of the world will contribute to a cultural event to […]

Vitafoods Asia 2015: Asia’s Definitive Nutraceutical Event

Fifth Edition to be Held from 2 – 3 September 2015 in Hong Kong Singapore – The fifth edition of Vitafoods Asia, the only event dedicated to the nutraceutical, functional food and beverages, and dietary supplement industries in Asia, returns to Hong Kong from 2 – 3 September 2015 at the AsiaWorld-Expo. Pre-registration is now open at www.vitafoodsasia.com/register, and entrance is free for industry professionals. The global nutraceutical market has to-date enjoyed steady growth for more than a decade, and factors widely recognised as drivers include an increasing consumer interest and awareness in diet-disease relationships, rising healthcare costs, and a growing ageing population. According to Euromonitor International, the retail value of fortified (or functional) food and beverages across Asia Pacific is expected to grow by 50.0% from 2014 – 2019, amounting to US$153.7 billion by the end of that period. Within the region, the top five performing markets are China, Japan, Indonesia, South Korea, and Hong Kong respectively, with China accounting for nearly 60% of the territory’s total sales. Catering to the varied needs of manufacturers, distributors, wholesalers, scientists, R&D personnel, and marketing professionals, Vitafoods Asia features over 170 international exhibiting companies, who will present their latest ingredients and raw materials to upwards of 3,000 visitors from across Asia. Mr Chris Lee, Portfolio Director, Vitafoods Events, said, “Building upon the success of our last event, the team is working to enhance some of the best-loved visitor attractions of the show, as well as introduce fresh elements that will improve the experience for exhibitors and visitors alike. Ultimately, we aim to create a platform that promotes knowledge-sharing and networking, both of which facilitate business deals for the industry.” A Showcase of the Finest & Hottest Innovations Since its inception, Vitafoods Asia has been lauded by industry experts as a professional and […]

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