A Memorandum of Understanding between the Ministry of Technology and Communications (MTC) and Lao ICT Commerce Association (LICA) was signed on 29th September 2021.
Rhenus announces an expansion on its South Korea Seoul branch and diversifies multimodal solutions with the introduction of landbridge services
The additional landbridge service on the portfolio will enhance capabilities to provide optimised solutions that balance reliability, cost-effectiveness and speed, under the backdrop of challenging supply chain conditions globally.
SEOUL, SOUTH KOREA – Media OutReach – 11 October 2021 – Leading global logistics service provider Rhenus is offering a landbridge service in South Korea. Providing a viable alternative for time-sensitive cargo, the service includes rail connections between South Korea and Europe to cater to markets shipping higher value cargo with medium turnaround times that can be up to 40 percent faster than ocean freight. Within the rail service, weekly departure schedules and door-to-door delivery with dedicated teams in inbound and outbound markets ensuring consistent tracking and management of the entire process.
The landbridge service aims to optimize inventory management by reducing logistics costs compared to air freight options, increase planning reliability and offer a highly secure solution that is faster than ocean freight. It includes daily tracing solutions and caters to various container pick-up and drop-off locations including South Korea, China and European countries such as Poland and Russia for greater flexibility in planning.
As the pandemic continues, the global market for rail freight transportation estimated at USD 159.3 Billion in the year 2020, is projected to reach USD 205.3 Billion by 2026, growing at a CAGR of 4.3 percent, according to market research company Global Industry Analysts Inc.
“The Asia-Pacific market for rail freight transport is expected to gain momentum, as intermodal solutions continue to grow in popularity amidst the evolving supply chain challenges worldwide. The introduction of our Rhenus landbridge service in South Korea will strengthen our existing range of solutions to offer customers more reliable and customised options to plan their imports and exports smoothly within their requirements,” said Patrick Dargel, Managing Director of Rhenus Korea.
Rhenus South Korea expands its Seoul Office to support growth
Rhenus announced the expansion of its current branch office in Seoul to a bigger office space in order to strengthen its operational capabilities.
The new office, located at 10F Sang Jin B/D 165, Yangwha-ro, Mapo-gu in the middle of Seoul, will provide capacity for its freight services, warehousing solutions, IT solutions, customs brokerage and clearance services in South Korea.
Since its opening in 2016, Rhenus South Korea has built an extensive portfolio in supply chain solutions, specialising in domestic distribution and project cargo handling. It supports industries including electronics, fashion and lifestyle, cosmetics, automotive, machinery, chemical and ship parts.
For more information on Rhenus South Korea, please visit https://www.rhenus.com/en/kr/ .
About Rhenus
The Rhenus Group is one of the leading logistics specialists with global business operations and annual turnover amounting to EUR 5.4 billion. 33,500 employees work at 820 business sites and develop innovative solutions along the complete supply chain. Whether providing transport, warehousing, customs clearance or value-added services, the family business pools its operations in various business units where the needs of customers are the major focus at all times.
#Rhenus
Green Common begins new chapter in green diets
With grand openings in Hall of the Sun and Taikoo Li Qiantan in Shanghai
SHANGHAI, CHINA – Media OutReach – 11 October 2021 – Green Common championed sustainability through discovering the endless potential of vegan diets, offering diverse, quality vegan choices, and has since become a household name for its unique combination of plant-based retail and eatery. Since the opening of its first Shanghai store in 2020, Green Common continues its mission to promote plant-based meat, diets and products, boosting the ever-growing awareness for plant-based food. As healthy, sustainable lifestyle takes root, an increasing number of consumers began to choose green diets as a healthier option. Expanding at an astounding rate this year, Green Common opens up two stores in prime locations Hall of the Sun and Taikoo Li Qiantan, opening up new doors for plant-based diets to penetrate different stratums.
Green Common’s latest stores introduces the new brand colour: Green Common Aqua, its tranquil colours showcases the boundless spectrum of nature. The walls are embellished with organic shapes in a warm sand colour, creating a natural, spacious setting for the perfect dining experience. The brand-new Vegan Drinks Bar uses carefully selected plant-based ingredients to curate healthy and low-calorie drinks, with a choice of adding vegan milk foam for a frothy yet light enjoyment. The new stores continues Green Common’s signature combination of retail and restaurant, inviting customers to bring the premium plant-based experience home.
Mr David Yeung, the Founder and CEO of Green Common and Green Monday Group, said, “We are glad to see sustainable lifestyles becoming more widespread and valued across the nation. As the pioneer of the industry, we are beyond proud to open Green Common in the prestigious landmarks Hall of the Sun, Ruihong Tiandi and Taikoo Li Qiantan. We will continue our endeavour to discover the boundless potential of vegan cuisine, creating a beautiful green future where delectable food, innovation, sustainability, health and accessibility can co-exist in total harmony.”
Revolutionary vegan dining leads next generation diets
Green Common brings never-before-seen vegan menus to its new stores, revolutionising the perception of vegan dishes by courses curated from the OmniPork series, including OmniPork Mince, OmniPork Strip and OmniPork Luncheon. The brand new menu includes innovative dishes such as Omni-Lolli-Pork, Skewer Platter, Moving Mountains Mala Burger and the “fish” dishes featuring the ground-breaking OmniSeafood series, including Hot Pickled Omni Ocean Burger, OmniTuna Tartare, O! Crab Cake, Omni Fish & Chips and Deep Fried Curry Oat Omni Golder Fillet, delighting all with appetising dishes. Furthermore, the menu would be categorised to cater to all customers with dietary needs. The “Light & Yummy Menu” is designed especially for health and beauty-lovers, all dishes are labelled with calorie content, ranging from 120-300 and boasting a 200-calorie average, providing a light and delectable meal to customers.
About Green Common
Green Common is a one-stop plant-based platform combining retail, distribution and dining service, empowering communities in Asia and beyond with sustainable, innovative and wholesome food choices. Green Common has operated outlets across Hong Kong since 2015, and expanded overseas with its first Shanghai and Singapore store in December 2020 and January 2021 respectively. Green Common distributes plant-based products of over 30 brands to retailers and food service outlets across Asia. Signature brands include Alpha Foods, Beyond Meat, Califia Farms, Gardein, Heura, Moving Mountains Foods and Unlimeat.
#GreenCommon
CPA Australia: Demand for ESG talent to boom in Mainland China
BEIJING, MAINLAND CHINA – Media OutReach – 11 October 2021 – Demand for environment, social and governance (ESG) talent in Mainland China will boom in the next five years, according to a survey by one of the world’s largest professional accounting bodies, CPA Australia. This finding comes as CPA Australia as joins 12 global accounting bodies in committing to net zero greenhouse gas emissions.
CPA Australia surveyed over 400 accounting and financial professionals across industries in the Greater China region, including 139 respondents from Mainland China. Eighty-eight per cent of surveyed Mainland Chinese accounting and financial professionals expect local demand for ESG talent to increase in the next five years. Seventy-four per cent of respondents expect accountants will play a key role in achieving carbon emission reduction commitments in Mainland China.
Deborah Leung FCPA (Aust.), Executive General Manager International of CPA Australia said, “The results clearly reflect Mainland Chinese businesses’ growing focus on ESG. This ties in with the green and environmental protection commitments of the 14th Five-Year Plan and we are glad to see more Mainland Chinese businesses have begun to consider ESG performance as a key factor for business success.
“Accounting and financial professionals play a critical role as enablers of environmental protections and promoting ESG in the capital market. They are qualified to provide deep business insights about sustainability risks and opportunities, support green finance, and help improve disclosure mechanisms and policy frameworks.
“As an organisation with a global presence and deep commitments in the Greater China market for over 65 years, we acknowledge the impact of climate change and the urgency of taking actions to achieve net-zero emissions and promoting ESG in the businesses.”
The launch of the global accounting profession commitment to net zero emissions is an initiative of The Prince of Wales’ Accounting for Sustainability (A4S) Project Accounting Bodies Network (ABN), of which CPA Australia is a member. The ABN represents over 2.5 million professional accountants and students in 179 countries.
As part of the commitment, CPA Australia has pledged to achieve net zero greenhouse gas emissions within our organisation and to provide sound advice to the business community for a just transition to a net zero emissions economy.
“The accounting profession occupies a privileged position in the global economy. As trusted advisers, we’re privy to deep business insights about sustainability risks and opportunities. This knowledge creates an obligation to use our skills to protect our environmental heritage. CPA Australia is a global organisation in a global profession and we’re proud to be part of the global response to climate change,” Leung said.
According to the survey, there is a market shortage of skills and understanding of ESG. Eighty-nine per cent of Mainland Chinese respondents stated that they were looking forward to participating in ESG-relevant training courses in the coming 12 months.
CPA Australia will provide training and guidance to our members to support them in reducing greenhouse gas emissions in their own organisations and businesses, as part of its net zero commitment.
“We suggest that accounting bodies, research institutions, universities and businesses collaborate in nurturing ESG experts across the finance and accounting sectors in Mainland China. “With more requirements on ESG information disclosures being issued globally and more investors considering ESG performance as an indicator to evaluate a company, and as a key consideration in their investment strategy, we believe this is a huge opportunity for accounting and financial professionals with solid ESG knowledge and skillset in the future,” Leung said.
Read the Net Zero Commitment here.
About CPA Australia
CPA Australia is one of the largest professional accounting bodies in the world, with more than 168,000 members in over 100 countries and regions, including more than 20,000 members in Greater China. We have offices in Beijing, Shanghai and Guangzhou. Our core services include education, training, technical support and advocacy. CPA Australia provides thought leadership on local, national and international issues affecting the accounting profession and public interest. We engage with governments, regulators and industries to advocate policies that stimulate sustainable economic growth and have positive business and public outcomes. Find out more at cpaaustralia.com.au
#CPAAustralia
Amazon releases report on e-commerce export opportunities for Singapore SMEs at inaugural Seller Boot Camp
- Huge potential for local SMEs with B2C e-commerce export value in Singapore forecast to grow from S$1.4B in 2021 to S$3.5B by 2026, per Amazon’s first-of-its-kind report
- 87% of SMEs find e-commerce critical to expand globally, with greater sales growth expected overseas than domestically, reveal report findings
SINGAPORE – Media OutReach – 11 October 2021 – (NASDAQ:AMZN) – The annual value of business-to-consumer (B2C) e-commerce exports in Singapore is estimated at S$1.4 billion in 2021 and could reach S$3.5 billion in 2026 if micro, small, and medium-sized enterprises (MSMEs) accelerate their pace of using e-commerce to sell overseas. Currently, MSMEs are estimated to contribute 45% of Singapore’s B2C value of e-commerce exports in 2021.
These are findings from Amazon’s new ‘Local Sellers, Global Consumers: Capturing Singapore’s e-commerce export opportunity‘ report, which surveyed over 300 MSMEs from Singapore, and was released at the inaugural ‘2021 Amazon Expo, Seller Boot Camp‘. The report, prepared by consulting firm AlphaBeta, is the first-of-its-kind in analysing the size of Singapore’s e-commerce export potential, the perspective of local MSMEs, and best practices to achieve that potential.
Over 3,000 SMEs from Singapore, Malaysia, and the Philippines are expected to join this Seller Boot Camp, a 3-day virtual event hosted by Amazon from 11-13 October 2021, to equip themselves with the tools, resources, and knowledge to seize cross-border opportunities, increase their customer reach, and expand their business globally. During the event, Enterprise Singapore’s (ESG) Executive Director (ICM & Digitalisation), Mr Lee Yee Fung, will also share how the Singapore government and industry experts are working together to help local businesses unlock opportunities with e-commerce.
Mr. Bernard Tay, Head of Amazon Global Selling, Southeast Asia, said, “We are on a mission to help MSMEs start local, grow global. Local businesses of any size can benefit from this report to understand a range of topics, from business models and export regulations to consumer needs and foreign competition. Along with the report insights, our first-ever Seller Boot Camp comes as a timely opportunity for small enterprises to identify the current gaps in their operations and arm themselves with the knowledge, resources, and connections to sustainably expand their business. Not only can MSMEs learn from Amazon, but they can also connect with Enterprise Singapore and our key partners to glean insights, additional support, and an expanded network to grow globally.”
Sizeable regional growth opportunities for e-commerce exports
According to the report, if current e-commerce adoption trends continue, the annual value of B2C e-commerce exports in Singapore is expected to grow at 5% per year to reach S$1.7 billion in 2026, from S$1.4 billion in 2021. However, if MSMEs accelerate their use of e-commerce to export, this value is projected to increase more than two-fold and reach S$3.5 billion in 2026.
Singapore MSMEs surveyed anticipate greater sales growth prospects overseas (35%) than at home (13%), with Asia Pacific countries – Malaysia, China, Australia, Indonesia and Thailand – seen as the top five e-commerce export markets in five years’ time, by 2026.
Currently, close to one-quarter (24%) of MSMEs in Singapore conduct B2C e-commerce, of which, more than 90% use it for export.
87% of those surveyed locally agreed that e-commerce is critical for their ability to export, with top motivations including the ability to reach overseas customers, access to sales and marketing tools that are available on e-commerce marketplaces, and support for logistics and payments provided by these marketplaces. For 35% of surveyed Singapore MSMEs that export via e-commerce, more than half of their annual e-commerce sales were generated from abroad.
Key challenges faced by local MSMEs in e-commerce exports
Amidst the opportunities for growth and global expansion through e-commerce, MSMEs surveyed in Singapore revealed that key challenges can be narrowed down to three categories – barriers in cost, regulation, and information and capabilities.
High cross-border shipping costs is the most common challenge faced by Singapore MSMEs surveyed, with 81% citing it as a major barrier. While Singapore offers a robust range of grants to support local businesses on their e-commerce export journeys, about one-third of small enterprises (32%) surveyed admitted that they will find further support valuable.
Lastly, 72% of MSMEs surveyed believe they lack the ability to compete with other sellers globally, and 71% admitted that they are unsure of foreign consumers’ demands and preferences.
Tackling current challenges: Start local, go global with Amazon
Amazon offers various resources for thousands of local sellers to tackle their current barriers and complement existing efforts by industry and government agencies.
Most recently in Singapore, Amazon launched its IP Accelerator programme to make it easier and more cost-effective for small businesses to protect their brands by obtaining trademarks and tackling goods infringement in Amazon’s stores. ESG will also support Singapore businesses defray some of the costs associated with internationalisation, such as Intellectual Property Protection services in North America offered under the Amazon IP Accelerator programme.
Enterprise Singapore’s Executive Director (ICM & Digitalisation), Mr. Lee Yee Fung, said, “Key players in the e-commerce landscape, such as Amazon, have an established ecosystem of solution providers and suite of resources to assist sellers in deepening their digital capabilities for market expansion. We hope participants at the 2021 Amazon Expo, Seller Boot Camp will take the opportunity to acquire new knowledge about selling overseas and tap the range of support that can help them do so. We look forward to partnering more Singapore businesses to grow their sales avenues and international footprint through e-commerce.”
Amazon has supported many homegrown businesses such as Hegen, Malt and Wine Asia, and Tack. Details on the success of these MSMEs is included in appendix A.
To further help sellers manage cross-border shipping costs and logistics, Amazon’s over 225 tools also include the Fulfilment by Amazon (FBA) service through which Amazon picks, packs, and ships products, as well as takes care of customer service and returns, across its 20 stores globally. Locally, Amazon is also waiving its monthly seller subscription fees until 31 December 2022[1].
Other resources include the Amazon Seller App for local sellers with accounts on Amazon.sg to track sales and manage their business via mobile, the Marketplace Appstore, a one-stop shop to discover third-party applications and services for automating tedious business aspects, and the Seller Forum, a resource for first-hand advice from fellow business owners on selling with Amazon.sg. Sellers can also join the Sell on Amazon Singapore Facebook page to connect with the community of sellers on Amazon.sg. These resources are in addition to easy listing tools, payment processing and credit card fraud protection, and promotional features that businesses of all sizes on Amazon.sg can use to be discovered by customers and improve sales.
Over the three days at 2021 Amazon Expo, Seller Boot Camp, MSMEs can hear from industry experts and Amazon’s partners who will dive into topics ranging from cross-border e-commerce and payments to customer and sales conversion strategies, to help small businesses scale globally and improve customer reach.
To download the ‘Local Sellers, Global Consumers: Capturing Singapore’s e-commerce export opportunity’ report, visit https://alphabeta.com/our-research/capturing-the-e-commerce-export-opportunity-in-singapore/. A full report which includes findings from other ASEAN countries will be released at a later date.
To learn more about the small and medium-sized businesses growing with Amazon.sg, visit: https://amazon.sg/shoplocal. More information about selling on Amazon can be found here: https://www.amazon.sg/sell.
Appendix A: Success stories of local small businesses selling on Amazon.sg
- Hegen: In April 2020, Hegen started retailing its products on Amazon.sg and has since seen steady growth in revenue. During Prime Day 2021, Hegen sold 5x as many products as compared to a year ago. Aside from Singapore, Hegen also sells its products on Amazon.com and Amazon.uk to reach a global audience online.
- Malt and Wine Asia: By selling via Amazon, the brand has been able to offset its initial onboarding costs of selling online, upskill digitally to build its e-commerce capabilities, and navigate the disruptions caused by COVID-19. It also uses Fulfilment by Amazon (FBA) to deliver products to consumers and overall, has boosted sales by 3x in just 5 months.
- Tack: Founded in 2019, Tack started selling on Amazon.sg in April 2021 and within 5 months, expanded internationally via Amazon.com – all while being based in Singapore. It is now eyeing a global expansion with Amazon and expects its shoppers on Amazon.com to contribute to 25% of its GPS’ sales in the first year, followed by a 40% growth in its GPS’ sales in the next year.
[1] This waiver applies for professional selling fees only. Read more here for applicable terms and conditions.
About Amazon
Amazon is guided by four principles: customer obsession rather than competitor focus, passion for invention, commitment to operational excellence, and long-term thinking. Amazon strives to be Earth’s Most Customer-Centric Company, Earth’s Best Employer, and Earth’s Safest Place to Work. Customer reviews, 1-Click shopping, personalized recommendations, Prime, Fulfillment by Amazon, AWS, Kindle, and The Climate Pledge are some of the things pioneered by Amazon. For more information, visit Amazon.sg
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#Amazon
Deputy Mayor Discusses Removal of Police Checkpoints across Vientiane Capital
The Deputy Mayor of Vientiane Capital has conceded that police checkpoints in the city were removed recently to prevent economic collapse.
AXA BetterMe Weekend concludes successfully
Echoing the World Mental Health Day to promote mental wellness and encourage everyone to live healthily inside out to become a BetterMe
HONG KONG SAR – Media OutReach – 10 October 2021 – In response to the World Mental Health Day and celebrating the 1st anniversary of AXA BetterMe, the holistic wellness platform on the Emma by AXA app, AXA Hong Kong and Macau (“AXA”) hosted the “AXA BetterMe Weekend” (the “Event”) on 7-10 October at Hysan Place, Causeway Bay, to encourage Hong Kong citizens to take good care of their mental wellness, live healthily inside out, and become a BetterMe. The event received overwhelming response despite the inclement weather.
The AXA BetterMe Weekend was held at Hysan Place for four days, aiming to raise the awareness of mental health.
“AXA BetterMe Weekend” offered a full spectrum of activities for people of all ages, including complimentary creative dance and singing bowl workshops, brand new AXA BetterMe Mind Charger stress-relief soundtracks, DIY tote bag, special photo booth, etc.
AXA BetterMe was launched in July 2020, it offers nearly 20 programmes and services covering physical wellness, mental wellbeing and health management. Its mental wellness resources are available for free to not only AXA customers but also the general public alike. Simply access the AXA BetterMe services through the Emma by AXA app and start enjoying the services anytime, anywhere at your fingertips.
To learn more about AXA BetterMe, please visit: https://www.axa.com.hk/en/be-a-betterme-campaign
VinUni launches global case competition
VinUniversity officially launches the VinUniversity Global Case Competition (VGCC) for undergraduate and graduate students across the globe. For its inaugural year, the theme revolves around VinFast’s expansion into the US electric vehicle market. The winning team will be awarded a prize worth up to 200 million VND.
HANOI, VIETNAM – Media OutReach – 9 October 2021 – VinUniversity Global Case Competition (VGCC) is an annual competition organized by VinUniversity with support of Cornell University. This annual competition confronts participating teams with global business problems, based on real challenges facing real businesses/sectors. The competition asks teams of students from diverse educational and ethnic backgrounds to work together in order to maximize their chances of winning.
VGCC 1: Prof. Rohit Verma, Provost of VinUniversity and Mr. Michael Lohscheller, CEO of VinFast Global shared with students during the webinar introducing the competition. The Organizing Committee is currently receiving registration before 11:59 am (GMT + 7) on October 17, 2021.
According to plan, each year VGCC will collaborate with a business to come up with a realistic case study. The theme of VGCC 2021 is “VinFast – Go Global”: How can VinFast – a young Vietnamese business – lead the “green” movement and establish a permanent presence in the US market with its electric vehicle models. The competition’s methodology and case were designed with the consultation of Cornell University, a world-class Ivy League institution.
Just 8 weeks after its inauguration, the competition received approximately 2.000 applications from Vietnam and other world-leading universities around the world, such as the University of Oxford (UK), Duke University (USA), Nanyang Technology University (Singapore), Warwick University (UK), among many others.
The electric vehicle industry has gained increasing attention around the world. “We see that around the world, climate change is obviously one of a key topics and sector in term of automobile is supporting this change. Therefore, electric vehicles play a key role.” – shared Mr. Michael Lohscheller, CEO of VinFast Global in the conference introducing the competition.
Furthermore, electric vehicles will open up opportunities for the development of a myriad of other supporting industries and technology, such as Computer Science and Artificial Intelligence, which would improve living standards and customer experience.
The biggest appeal of this year’s theme is the inspirational story of VinFast, with its pioneering and “borderless” approach. “VGCC is a bold and outstanding move from a Vietnamese university and an ambitious Vietnamese enterprise. VinFast, with its “Make in Vietnam” brand, brings the desire to lead and promote the global ‘green’ revolution. VinUni, a fledgling university, has pioneered in its call for global students to participate in solving the question of expansion into the US market, one of the most fiercely competitive markets in the world. Unprecedented stories tend to have a great appeal and arouse participating teams’ desires to conquer”, shared Prof. Rohit Verma, Provost of VinUniversity.
Through VGCC, students from various disciplines, such as business administration, engineering, or computer science, have to join forces and put their knowledge into practice. Students will be trained in teamwork, research, analytical skills, in addition to problem-solving and leadership skills. Such “real learning – real practice” activities contribute to the attraction of VGCC and demonstrate VinUni’s educational philosophy, preparing students for the real world post-graduation.
VGCC is held virtually from October 4th to November 14th, 2021 with a total prize value of nearly 400 million VND (equivalent to 17,000 USD), including the First Prize worth more than 200 million VND (10,000 USD). Each participating team consists of 3-4 members, who can come from different universities or countries. Team registration must be completed on the program’s official website https://vinuni-globalcase.com/ before 11:59 AM (GMT+7) on October 17th, 2021. The top 10 teams will be selected to move on to the final round, which is scheduled to take place in November 2021. In addition to the First Prize, the winning team will have the chance to work directly with the business and carry out their solution.
About VinUniversity (VinUni)
VinUniversity (VinUni) is an excellent, private, not-for-profit university established by Vingroup. VinUni aspires to develop talents for the future, to make a breakthrough in Vietnam higher education and to become a world-class university. With the goal of becoming one of the top 50 young universities of the world, VinUni has built strategic partnership with two of the world top 20 Universities, namely Cornell University and the University of Pennsylvania.
#VinUni
About VinFast
VinFast is a member of Vingroup – one of Asia’s largest private corporations. With a vision to become a leading smart electric vehicle brand, VinFast has recently opened its branches in the US, Canada, France, Germany and the Netherlands. The company is also actively preparing for the global launch of its electric vehicle models.
#VinFast