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AIA Hong Kong continues to lead the insurance industry with 9 market No.1 in 2024

Number of New Business Policies tops the market for 11 consecutive years

HONG KONG SAR – Media OutReach Newswire – 25 April 2025 – AIA Hong Kong continues to lead the industry with 9 market No.1 in 2024, according to the Provisional Statistics of the Insurance Authority on Hong Kong Long-Term Insurance Business1:
  • Number of Inforce Policies
  • Number of New Business Policies (Top the market for 11 consecutive years2)
  • Number of Local New Business Policies
  • Number of Non-Local New Business Policies
  • Non-local Annualised New Premiums3
  • New Office Premiums from Agency Channel3
  • Annualised New Premiums from Agency Channel3
  • Number of New Business Policies from Agency Channel
  • Number of New Business Policies from Brokerage Channel
Mr. Alger Fung, Chief Executive Officer of AIA Hong Kong & Macau
Mr. Alger Fung, Chief Executive Officer of AIA Hong Kong & Macau

Mr. Alger Fung, Chief Executive Officer of AIA Hong Kong & Macau, said, “This success would not have been possible without the trust of our customers and the relentless dedication of our teams. We will maintain our commitment to customer centricity in order to sustain our position as the number 1 choice for our customers and help everyone live Healthier, Longer, Better Lives. ”

Hashtag: #AIA #友邦

The issuer is solely responsible for the content of this announcement.

About AIA Hong Kong & Macau

AIA Group Limited established its operations in Hong Kong in 1931. To date, AIA Hong Kong and AIA Macau have over 18,000 financial planners1, as well as an extensive network of independent financial advisors, brokerage and bancassurance partners. We serve over 3.6 million customers2, offering them a wide selection of professional services and products ranging from individual life, group life, accident, medical and health, pension, personal lines insurance to investment-linked assurance schemes with numerous investment options. We are also dedicated to providing superb product solutions to meet the financial needs of high-net-worth customers.

1 as of 31 December 2024

2 Including AIA Hong Kong and AIA Macau’s individual life, group insurance and pension customers (as of 31 December 2024)

Feng Wei Ju and 8½ Otto e Mezzo BOMBANA Garner Coveted Diamond Awards in Black Pearl Restaurant Guide 2025


MACAU SAR – Media OutReach Newswire – 25 April 2025 – 2025 Black Pearl Restaurant Guide Award ceremony for Hong Kong, Macau, Taiwan and overseas regions took place today in Singapore. Galaxy Macau™, the world-class luxury integrated resort (referred to as “Galaxy Macau”), proudly celebrated standout recognition for its most esteemed dining establishments—8½ Otto e Mezzo BOMBANA and Feng Wei Ju at StarWorld Hotel. With each restaurant receiving a coveted One-Diamond award rating for a continual year running, further expanding each restaurant’s impressive industry accolades. Galaxy Macau is committed to delivering exceptional gastronomic experiences that embody the essence of its well-earned place as “Asia’s Ultimate Singular Dining Destination,” consistently achieving critical acclaim.

8½ Otto e Mezzo BOMBANA at Galaxy Macau and Feng Wei Ju at StarWorld had attained One-Diamond rating once again in the 2025 Black Pearl Restaurant Guide.
8½ Otto e Mezzo BOMBANA at Galaxy Macau and Feng Wei Ju at StarWorld had attained One-Diamond rating once again in the 2025 Black Pearl Restaurant Guide.

Celebrating Black Pearl One-Diamond award wins, both restaurants epitomize the rigorous standards that Galaxy Macau has come to represent. Feng Wei Ju, which has maintained its Michelin Two-Star status for nine consecutive years, is led by Assistant Vice President of Food & Beverage Culinary of StarWorld Hotel and Executive Chef of Feng Wei Ju, Chan Chek Keong. With nearly 30 years of expertise in Hunan and Sichuan cuisine, Chef Chan artfully highlights the authentic flavors of these regions, securing Feng Wei Ju’s standout status as a premier dining destination in Hong Kong and Macau.

Helmed by Executive Chef Marino D’Antonio, 8½ Otto e Mezzo BOMBANA at Galaxy Macau adheres to gastronomic legend Umberto Bombana’s award-winning philosophy of providing the most authentic Italian cuisine, together with the natural essence of seasonal ingredients, presenting the vibrant culinary culture of Italy.

Recognized as one of the most influential restaurant award platforms in China’s dining industry, the Black Pearl Restaurant Guide relies on anonymous evaluations from seasoned food enthusiasts, culinary professionals, and researchers. Its assessment focuses on three main criteria: culinary excellence, service quality, and innovation in culinary traditions.

Within Galaxy Macau’s impressive portfolio of over 120 dining options, the highlighted award-winning restaurants exemplify the resort’s commitment to culinary excellence. Their talented chefs craft authentic dishes that reflect the rich diversity of Northern Chinese, Hunan, and Cantonese cuisines, along with Macanese-Portuguese fusion and international flavors from Japan, Thailand, and Italy. Diners can indulge in unique culinary experiences, savoring fresh, local ingredients while appreciating the deep cultural heritage and innovation behind each dish, all delivered with genuine hospitality.

Hashtag: #GalaxyMacau

The issuer is solely responsible for the content of this announcement.

About Galaxy Macau Integrated Resort

Galaxy Macau™, The World-class Luxury Integrated Resort delivers the “Most Spectacular Entertainment and Leisure Destination in the World”. Developed at an investment of HK$43 billion, the property covers 1.1 million-square-meter of unique entertainment and leisure attractions that are unlike anything else in Macau. Eight award-winning world-class luxury hotels provide close to 5,000 rooms, suites and villas. They include Banyan Tree Macau, Galaxy Hotel™, Hotel Okura Macau, JW Marriott Hotel Macau, The Ritz-Carlton, Macau, Broadway Hotel, Raffles at Galaxy Macau and Andaz Macau. Unique to Galaxy Macau, the 75,000-square-meter Grand Resort Deck features the world’s longest Skytop Adventure Rapids at 575-meters, the largest Skytop Wave Pool with waves up to 1.5-meters high and 150-meters pristine white sand beach. Two five-star spas from Banyan Tree Spa Macau and The Ritz-Carlton Spa, Macau help guests relax and rejuvenate.

As the dining destination in Asia, Galaxy Macau offers a wide variety of gastronomic delights, exquisite experiences and ingredients of the finest quality with over 120 dining options from Michelin dining to authentic delicacies; Galaxy Promenade is the hottest shopping destination featuring the latest in fashion and curated experiences in Macau. Spanning over 100,000-square-meter, luxury flagship stores, lifestyle boutiques and our selection of labels are among the more than 200 world-renowned brands for a world-class shopping journey; Galaxy Cinemas, immersive thrills and luxurious comfort go hand in hand at Galaxy Cinemas. All 10 theaters are equipped with the latest audio-visual technology; CHINA ROUGE, one-of-a-kind cabaret lounge that evokes the glamor of Shanghai’s golden era with stylish entertainment and customizable surrounds; and Foot Hub, which presents the traditional art of reflexology for authentic relaxation and revitalization. For Authentic Macau Flavours and Vibrant Asian Experiences, Broadway Macau – just a 90-second walk via a bridge from Galaxy Macau, has over 35 Authentic Macau & Asian Flavours at Broadway Food Street. The 2,500-seat Broadway Theatre plays host to world-class entertainers and a diverse array of cultural events. Meeting, incentive and banquet groups are also catered to with a portfolio of unique venues in Galaxy Macau and an expert service team.

Galaxy International Convention Center (GICC) is the latest addition to the Group’s ever-expanding integrated resort precinct and will usher in a new era for the MICE industry in Macau. GICC is a world-class event venue featuring 40,000-square-meters of total flexible MICE, and the 16,000-seat Galaxy Arena – the largest indoor arena in Macau.

For more details, please visit , and .

CLOU Electronics honored as a TOP 5 Battery & Energy Storage Innovation Company at Battery Energy Storage Indonesia 2025

JAKARTA, Indonesia, April 25, 2025 /PRNewswire/ — CLOU Electronics, a global leader in energy storage commercialization, made a strong debut at Solartech | Battery Energy Storage Indonesia 2025, held from April 23 to 25 in Jakarta. Demonstrating its commitment to the APAC market, CLOU was honored as TOP 5 Battery & Energy Storage Innovation Company by Visitors’ Choice, awarded by GEM Indonesia. Also included on the list are prominent companies such as Sungrow, Trina, Huawei, and JASolar.

 

CLOU at Battery Energy Storage Indonesia 2025

CLOU was honored as TOP 5 Battery & Energy Storage Innovation Company by Visitors’ Choice, awarded by GEM Indonesia
CLOU was honored as TOP 5 Battery & Energy Storage Innovation Company by Visitors’ Choice, awarded by GEM Indonesia

At the exhibition, CLOU presented its complete portfolio of advanced energy storage technologies, including the Aqua-C2.5 Utility Solution, Aqua-E233 for commercial and industrial applications, a cloud-edge-end EMS system, and its flagship Engineering & Procurement (EP) Package solution.

Among the highlights, the Aqua-C2.5 with string PCS drew significant attention—integrating string inverters and batteries into one AC storage cabinet. This design improves efficiency, modularity, and installation flexibility. CLOU is among the few companies worldwide capable of delivering mature string PCS solutions. The system also incorporates CLOU’s proprietary Smart Scales Active Balancing Technology, which optimizes energy distribution through active balancing and recently passed the CSA TS-800 Large-Scale Fire Test (LSFT), showcasing its safety and reliability credentials.

CLOU’s EP Package emerged as a key highlight, offering end-to-end system integration across the full project lifecycle—from design and engineering to grid connection, capacity expansion, and long-term service agreements of up to 20 years. This comprehensive approach enables customers to maximize system performance and return on investment.

In an official keynote presentation, Mr. Harrison Ye, Director of CLOU APAC Region, emphasized the importance of holistic system integration. “True integration is not just about assembling components,” he said. “It’s about engineering excellence, operations and maintenance, warranty strategy, and total lifecycle value. Profitability must be measured by energy output, cycle performance, and long-term reliability.”

With nearly 30 years of experience in the global energy sector, CLOU has delivered 6GWh of energy storage systems as of Q4 2024, with successful projects in the Americas, Chile, and Europe.

Looking ahead, CLOU is accelerating its localized manufacturing plans in Indonesia. The first phase of its Indonesian factory will go online in Q1 2026 with an initial production capacity of 4GWh, scalable to 6GWh. Further expansion is already in planning, with an aim to meet TKDN requirements and strengthen investment in the broader APAC market.

For more information regarding CLOU’s products and solutions in the APAC region, please contact:Harrison Ye with yeys31@szclou.com, Summer Zhang with zhangyy77@midea.com

State Grid Xinjiang Information & Telecommunication Company: Facial Recognition Enhances Enterprise Security Management

URUMQI, China, April 25, 2025 /PRNewswire/ — Recently, State Grid Xinjiang Information & Telecommunication Company has successfully completed the optimization and upgrade of its visitor management system. By constructing a user facial database and implementing facial recognition technology, the company has achieved precise control over personnel, locations, and time. This has significantly strengthened the security of entry and exit in the office area while greatly reducing manual verification processes, thereby improving the efficiency of personnel access.

Through comprehensive software and hardware upgrades to the visitor management system, visitors can now complete reservations by selecting “I’m a Visitor” in the WeChat mini-program, entering their mobile phone number, obtaining a verification code, and logging in. Visitors are required to accurately fill out details such as their name, affiliated organization, ID number, visiting department, contact person, purpose of visit, and start/end times before submitting the form. According to statistics, the average passage time for visitors has been reduced from 8 minutes to 10 seconds, effectively enhancing the efficiency of office area access and preventing congestion at entrances and exits.

Furthermore, the visitor management system integrates with the SMS platform to provide automated reminders three days prior to the expiration of visitor credentials and real-time notifications upon approval of reservation authorizations. This ensures precise control over the validity period of visitor access, enabling proactive measures such as “early reminders,” “early reservations,” and “timely access.” Additionally, the system collects and analyzes data on visitor passage times, frequently visited areas, and abnormal records, further enhancing the convenience and security of office area access and assisting enterprises in optimizing the allocation of security personnel.

Looking ahead, State Grid Xinjiang Information & Telecommunication Company will continue to explore advanced technologies for visitor security management. The company aims to achieve multi-scenario applications based on facial recognition technology and implement a framework of “unified entry, networked access, and precise distribution” for identity information. Standardized appointment and authorization processes will be established, along with flexible strategies to ensure seamless integration and technical prevention networking. These efforts will drive the company toward modernization, enhanced safety, intelligent operations, and improved convenience.

SERES Debuts Intelligent Safety at Auto Shanghai 2025, Setting Industry Standard and Capturing Global Spotlight

SHANGHAI, April 25, 2025 /PRNewswire/ — On April 23, SERES made a major announcement at Auto Shanghai with the debut of the Intelligent Safety ecosystem. Pioneering a new approach by defining safety through real-world scenarios, SERES sets a new benchmark for intelligent safety in the automotive industry.

Pioneering Scenario-Based Safety with Industry-Leading Coverage Across Four Core Domains

As the automotive industry advances through intelligent connectivity, electrification, and shared mobility, vehicle safety is undergoing a paradigm shift—from passive safety to “passive + active safety”, and now toward all-dimensional protection. Pioneering the industry’s first scenario-defined safety philosophy, SERES has developed an intelligent safety ecosystem encompassing four core pillars: life protection, vehicle body protection, health care, and privacy protection.

Life Protection: SERES developed the industry’s first 720° protection architecture and introduced the mass-produced and world’s largest aluminum alloy integrated rear body, now featured in the AITO M9. Additionally, SERES is the first to develop a magnesium alloy version for production use. Moving forward, all AITO models will adopt this integrated casting technology. SERES also leads with a battery protection system and a 24/7 cloud-based battery safety monitoring, delivering comprehensive personal safety.

Vehicle Body Protection: SERES continuously enhances active safety performance through continuously training the perception system. The comprehensive collision prevention capabilities – including frontal, lateral, and rear impact protection – have been significantly upgraded across all dimensions.

Health Care: SERES employs healthy material technologies to create a five-sense wellness cabin featuring fresh air, baby-safe surfaces, eye comfort, harmonious quietness, and low electromagnetic interference—ensuring a healthy environment for all passengers.

Privacy Protection: As vehicle intelligence advances, data and network security and privacy protection become ever more critical. SERES has built a multi-layered security architecture encompassing cloud, transmission, vehicle, and chip, providing full lifecycle data protection for users and their vehicles.

Building a Safety Assurance Framework, Co-Creating a Security Ecosystem

SERES has developed a holistic safety assurance framework that integrates R&D, testing, intelligent manufacturing, quality control, supply chain among others. This systematically ensures all-round protection for passengers, vehicles, and personal belongings. In R&D, SERES has logged over 11 million kilometers of testing across more than 1,300 scenarios, significantly shortening development cycles and enhancing product quality.

On the manufacturing side, SERES employs 10,000-ton level die-casting and achieves 100% automated welding and chassis bolt assembly. Supported by an industry-leading intelligent testing and quality assurance system, the company leverages automation, big data, and full-scenario validation to guarantee vehicle safety.


Globally Recognized Excellence and Expanding International Partnerships

Since the beginning of this year, the AITO 9 and AITO 5 have undergone upgrades, while the AITO 7 has introduced a new color option. With the latest addition of the AITO 8, AITO has now formed four-model lineup, catering to users’ diverse mobility needs. As of April 20, AITO users have collectively driven over 12.4 billion kilometers in intelligent range-extended electric vehicles.

Since its debut at the Paris Motor Show 2024, AITO’s innovation has captured global attention. At Auto Shanghai this year, international delegations visited AITO’s booth to witness the launch of its Intelligent Safety ecosystem and experience the future of smart mobility. Distributors from the UAE, Bahrain, Azerbaijan, Armenia, and Mongolia signed partnerships with SERES, joining the AITO family. Moving forward, AITO will collaborate with more global partners to redefine luxury.


Firmly upholding the philosophy that “Safety is the greatest luxury,” SERES is redefining the standards of luxury mobility in the new era and delivering an intelligent, secure travel experience that exceeds user expectations.

Rizhao, Shandong’s sunshine destination, prepares for influx of tourists

RIZHAO, China, April 25, 2025 /PRNewswire/ — A news report from chinadaily.com.cn:

Rizhao, a coastal city in East China’s Shandong province famous, renowned for its water sports venues, scenic areas, seafood, and stunning sunrises, is gearing up for a culture and tourism feast to embrace tourists from around the world during the upcoming peak tourist season, as revealed at a press conference organized by the Information Office of the Rizhao Municipal People’s Government on April 23.

Ctrip, a leading online travel service provider in China, recently released its list of the top 100 destinations in China, with Rizhao being recognized as a “Classic Destination” and a “Coastal and Island Destination.”

During this year’s May Day holiday, Rizhao will offer a rich array of cultural and tourism options, including holiday resorts, forest park, and immersive performances open to tourists. The city will also launch urban exploration activities connecting its top 10 key scenic spots, turning travel into a true adventure.

During the peak tourist season, Rizhao will actively develop its cultural and entertainment economy and nurture local music brands. The city will also host major concerts, music festivals, and sporting events to enrich the experience for tourists.

Local authorities are putting on a “Taste of Rizhao” culinary feast, launching a “Rizhao foodie” live program to promote local specialties and hidden gem eateries. By creatively combining traditional delicacies with gourmet coffee, they aim to create an immersive experience of Rizhao flavors that transcend time, blending old flavors with new scenes. Through markets, pop-up stores, and exploratory activities popular among young people, they strive to build a culinary social scene that is both delectable and Instagram-worthy.

Moreover, the city will provide tourists with travel packages for dining, accommodation, and scenic areas, allowing every visitor to easily enjoy authentic Rizhao flavors and experience the city’s renowned hospitality.

This May Day holiday, Rizhao invites everyone to come and enjoy the unique charm and warmth of this coastal city.

 

Neusoft Launches Three Product Portfolios for AI-Powered Intelligent Mobility at Auto Shanghai 2025

SHANGHAI, April 25, 2025 /PRNewswire/ — Recently, at Auto Shanghai 2025, Neusoft Corporation (Neusoft, SSE:600718) announced the launch of three core product portfolios: Neusoft A³ Cockpit-Driving-Parking Platform, Neusoft NeuMind Empowerment System for automotive industry, and OneCoreGo® Global In-Vehicle Intelligent Mobility Solutions 6.0. Bringing the latest technological achievements, Neusoft presented a comprehensive “Neusoft Solution” in the field of intelligent automotive connectivity to global users, accelerating the arrival of an era of human-vehicle synergy.

Neusoft A³ Cockpit-Driving-Parking Platform: One Chip Solution, Ushering in a New Era of Full Domain Intelligence 

As the intelligent cockpit shifts from simple function combination to full domain integration, the automotive industry has entered into a new era of full domain intelligence. Neusoft, leveraging its extensive experience in the intelligent cockpit field, has newly launched the Neusoft A³ Cockpit-Driving-Parking Platform. This platform seamlessly integrates cockpit, instrument cluster, driving, and parking features through one single chip, which can reduce hardware costs, deliver multiple functions across all domains with one chip. It supports independent deployment of multi-domain functions, enhancing software iteration efficiency and interaction flexibility between the cockpit and the driving systems. Furthermore, it supports mainstream driving features like HWA (highway assist) and HPA (home-zone parking assist), while reserving upgrade space for continuous evolution of vehicle models. With a complete self-developed AI toolchain, it also enables rapid iteration to address long-tail issues.

From improving software efficiency, to reducing hardware cost and streamlining the supply chain, the Neusoft A³ Cockpit-Driving-Parking Platform adopts an innovative model of leveraging ADAS to enhance cockpit capabilities. It integrates driving and parking technology solutions with cockpit interaction capabilities, helping automakers easily achieve cockpit-driving integration, accelerating the mass production of intelligent vehicle products, providing global users with a safer, more delightful and intelligent mobility experience.

Neusoft NeuMind Empowerment System: Transforming the Automotive Industry through AI Empowerment

As AI technology continues to evolve, vehicles are being equipped with more intelligent features of perception, analysis and decision-making. The shift from software-defined vehicles to AI-powered vehicles has increased the requirements for intelligent vehicle software complexity, prompting automakers to swiftly integrate AI functionalities across various application scenarios. The Neusoft NeuMind Empowerment System precisely meets this demands, which serves as the AI brain, bridging perception, decision-making, and evolution chains to streamline AI into a standardized, production-ready capability, offering automakers full-stack intelligent solutions.

The Neusoft NeuMind Empowerment System integrates key modules such as intelligent cockpits, ADAS, body control, and vehicle connectivity with millisecond-level real-time responsiveness. With self-developed AI middleware and development toolchain, it facilitates rapid iteration of intelligent applications and decision-making algorithms, enabling seamless OTA upgrades. As an open intelligent platform built on Neusoft’s “RongZhi” AI implementation framework, it integrates the intelligent capabilities of multiple foundational AI models to provide a scenario-based intelligent service engine and personalized user experience customization. Through the concept of “one-time development, global deployment”, it helps both local and international automakers overcome technological barriers within the ecosystem.

OneCoreGo® Global In-Vehicle Intelligent Mobility Solutions 6.0: Transforming Vehicles into Mobile Intelligent Agents

As cars are rapidly evolving from transportation tools to “the third living space”, users expect comprehensive mobility experiences rather than basic functionalities. Neusoft’s OneCoreGo® Global In-Vehicle Intelligent Mobility Solution has been upgraded to version 6.0. Building on the three core product systems: One Map (Global Navigation Product Family), One Sight (AR For Car), and One Store (Global In-vehicle Ecosystem), it has newly added One Pay (In-vehicle Payment Center) and One Mate (AI Interaction Center). This upgrade further enhances Neusoft’s in-vehicle ecosystem with more advanced AI technology, achieving a full-chain upgrade of “navigation + payment + interaction” and creating a band-new global intelligent mobility scenario.

One Pay integrates driving scenarios such as charging, parking, refueling, toll payments, and supports mainstream global payment methods. It offers one-stop reservation and flexible in-car and out-of-car payment options for software renewals, personalized service subscriptions, and full-scenario bill payments, making journeys more convenient. One Mate, built on AI capabilities, constructs an intelligent agent across application ecosystems. It integrates technologies like complex semantic understanding, scene-level task execution, multimodal interaction, and emotional voice cloning, combining the reasoning and comprehension abilities of multiple large models to intelligently plan and execute complex tasks, enabling intelligent interaction and enjoyable driving. From a mere tool to a friendly companion, the OneCoreGo® Global In-Vehicle Intelligent Mobility Solution continually deciphers the code of future mobility, ushering driving experiences into a new era of “services at hand, interaction at will”.

Gai Longjia, President of Neusoft Corporation stated, “The concept of software-defined vehicles has moved from vision to reality. The deep integration of AI technology and the automotive industry is reshaping the collaboration model among humans, vehicles, roads, and the cloud. Cars are no longer merely transportation tools, they are mobile spaces for intelligent life, and they are key arenas in the global industry’s competition for technological leadership. Over the years, Neusoft has witnessed the surging tide of intelligence in the automotive industry, and driven by innovation and customer needs, we aim to create value for global partners. Today, we’re launching three innovative products as a new start to promote the global transformation of intelligent vehicles.

Since fully launching its intelligent solutions strategy in 2024, Neusoft has been steadfastly advancing intelligent solutions and data valorization, focusing on leveraging cutting-edge technologies like AI and big data. It has now established a comprehensive AI technology system and methodology. In the field of intelligent vehicle connectivity, Neusoft will continue to empower intelligent mobility through innovative technologies, equipping vehicles with “swift responsiveness, profound thinking, and warm services”, driving global automotive industry towards a future without limits.

For more information about Neusoft, please visit www.neusoft.com

2 Billion USD Polypropylene (PP) Production Plant and Terminal Investment to Contribute $300 Million Annually to Türkiye’s Trade Balance

ISTANBUL, April 25, 2025 /PRNewswire/ — Rönesans Holding, one of Europe’s leading contracting and investment groups, has initiated one of the largest private sector investments in Türkiye to date: the construction of a new Polypropylene (PP) Production Plant and Liquid Bulk Terminal in Ceyhan. With a total investment of $2 billion, these strategic projects aim to increase Türkiye’s industrial self-sufficiency, reduce foreign dependency, and enhance the country’s position in global trade.

 

Erman Ilıcak, Honorary President of Rönesans Holding
Erman Ilıcak, Honorary President of Rönesans Holding

 

Dr. Erman Ilıcak, Honorary President of Rönesans Holding, said: “Once operational, these projects will directly contribute USD 300 million annually to reducing Türkiye’s current account deficit.”

Rönesans Holding recently announced that it has secured total of $1.3 billion in financing for these projects –from the U.S. International Development Finance Corporation (DFC) and Spain’s Export Credit Agency (Cesce).

Dr. Ilıcak highlighted the group’s longstanding role in advancing Türkiye’s economy through value-added projects: “Our story began with international contracting services. To date, we have undertaken projects worth a total of USD 50 billion. Seventy per cent of this, approximately USD 35 billion, was carried out abroad, and we have pioneered many firsts in the world in this field. We have worked on a wide range of projects, from Europe’s longest tunnel to its tallest building, from the world’s largest GTG facility to the world’s largest seismically isolated building. Following this, we became a large-scale investment holding company operating in real estate, social infrastructure, renewable energy, and more recently, industrial facilities. Over the past 15 years, with the significant contributions of stakeholders such as the World Bank’s investment arm IFC and the EBRD, we have structured our business in line with sustainable development goals.”

He continued: “Our model is centred on developing the right project with the right partners, and delivering it at the right time. We have successfully implemented this model with partners such as Singapore’s sovereign wealth fund GIC, Meridiam Infrastructure from France, Japan’s Sojitz, Samsung C&T, and TotalEnergies. Together, we have completed $10 billion worth of investments in Türkiye. These initiatives have laid the foundation for broader transformation, and we will continue to focus on projects that help reduce our country’s trade gap.”

Ceyhan Projects Developed with Expertise from 12 Countries

Reflecting on shifting global economic trends, Dr. Ilıcak said: “Protectionism is increasing, and supply chains are being reshaped. Energy and production are becoming localised. This transformation holds significant opportunities for countries like ours. In particular, strategic heavy industry investments are needed to reduce the foreign trade deficit arising due to imports of industrial machinery, plastics and chemicals, as well as industrial and precious metals. Over the past 10 years, industrial investments totalling approximately USD 20 billion have been made in Türkiye, including projects worth over USD 500 million. But this is not enough.”

He further emphasised: “To close the gap, Türkiye needs to allocate at least $12 billion annually over the next five years, totalling $60 billion. If an investment initiative of this scale is undertaken, we could see a USD 15 billion annual increase in GDP and a USD 10 billion reduction in the foreign trade deficit. At Rönesans Holding, we have secured international financing for our Ceyhan Polypropylene Production Facility and Liquid Bulk Terminal investments, totalling USD 2 billion, which serve this very purpose. The construction of these projects, developed in collaboration with expert solution partners from 12 countries, are ongoing. Once operational, these investments will directly contribute USD 300 million annually to reducing Türkiye’s current account deficit.”

Attracting Foreign Investment Through Strong Partnerships

Dr. Ilıcak also reflected on the importance of international collaborations: “Perhaps the most challenging project we undertook with the EBRD was Türkiye’s transformation in healthcare. The EBRD shared its expertise from around the world. As a result, Türkiye was able to attract USD 15 billion in financing from abroad and carry out its healthcare transformation. We also worked with the IFC for many years on project financing. In difficult conditions, IFC has always stood by our side. We have formed company partnerships with them. Most recently, we have been developing a PPP hospital in Kazakhstan together. In every project we have undertaken, the first question they asked was, ‘What will be the social impact of this?’ Profitability was always the last topic. Those are the reasons why I am grateful to both banks.”

He concluded: “Our relations with Central Asian countries, in particular, have developed substantially. Then, our ties with African countries began to strengthen. Today, Türkiye has become a hub that serves a population ten times its own, meeting needs such as healthcare and education. We closely follow these developments and ensure that growing diplomatic relations are also reflected in trade. We are working to support the progress of Türkiye’s industrialisation initiative. We secure financing from abroad to carry out our projects wherever possible instead of using our country’s limited resources.”

 

Ceyhan Polypropylene (PP) Production Plant and Terminal
Ceyhan Polypropylene (PP) Production Plant and Terminal