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Thousands of Undocumented Migrant Laborers Living in Golden Triangle SEZ

Golden Triangle Special Economic Zone in Laos

The Lao Ministry of Labour and Social Welfare is working with Bokeo Province to solve the problem of unlawful labor practices in the Golden Triangle Special Economic Zone.

Xlife Sciences AG is elected as Innovation Partner for Saudi Arabia

ZÜRICH, SWITZERLAND – EQS Newswire – 26 October 2021 – Xlife Sciences AG has signed a strategic partnership with the development organization Peace City World as part of the Vision 2030 future program. Peace City World is the official developer of four Smart Cities in Saudi Arabia and Tunisia as well as part of Vision 2030. The program was launched by the Saudi Crown Prince in 2016 and aims to reduce Saudi Arabia’s dependence on fossil fuels and diversify its economy financially. As part of the partnership, Xlife Sciences will be granted a budget of up to 50 Million US Dollars. The core focus is the establishment of an innovation center and technology transfer for the Smart Cities initiative.

The partnership of Xlife Sciences AG with Vision 2030 takes place in the field of sustainable health and particularly focuses on promoting innovation and technology transfer to the Middle East. Oliver R. Baumann, CEO of Xlife Sciences sees significant potential in the collaboration: “For Xlife, the partnership with Saudi Arabia is a recognition of our work and a step towards more international presence and innovation in our four pillars of technology platforms, biotech, medtech and artificial intelligence.” “Furthermore, by participating in the program, Xlife is significantly expanding its network of relationships and presence in the region. In terms of the program, further license partners for the various technologies may be found, particularly for the exit of project companies and the acceleration of registration processes”, says Baumann.

According to the management of Xlife, the funds of up to 50 Million US Dollars will especially be used for the construction of an innovation center and the further development of smart city technologies. As part of the Smart City Sustainability initiative, Saudi Arabia aims to operate ten cities sustainably in the mid term. Moreover, the funds are also intended to further advance the scaling process of various Xlife project companies.

About Xlife Sciences AG

Xlife Sciences AG is a Swiss company with focus on investing in promising technologies in the life science industry. Xlife Sciences AG is building the bridge from research and development to healthcare markets by supporting researchers and entrepreneurs in positioning, structuring, developing and implementing their concepts. Together with industrial partners or universities, Xlife Sciences AG leads projects through the proof-of-concept phase after an invention disclosure or start-up. Subsequently, the firm focuses on out-licensing or selling the company, often with a combination of a strategic partnership. Xlife Sciences AG offers its investors direct access to the further development of innovative and future-oriented technologies at a very early stage. For more information, please visit: www.xlifesciences.ch

Laos Confirms 770 New Cases of Covid-19 and Three Deaths

Covid-19 Update Vientiane

Laos has recorded 770 new cases of Covid-19 across the country today, with three new deaths recorded.

Fintech the Main Driver of Financial Services Employment Up 45% in Q3 2021 from Q2: Michael Page Indonesia

JAKARTA, INDONESIA – Media OutReach – 26 October 2021 – According to job opportunity data shared by global recruitment specialists Michael Page Indonesia the number of jobs rose in Q3 2021 compared to Q2 led by job positions within Financial Services (up 45%), Digital (up 14%) and Technology (up 13%).

Olly Riches, President Director of Michael Page Indonesia & Philippines

 

Olly Riches, President Director of Michael Page Indonesia & Philippines observes, “As Indonesia continues to enjoy a digital boom, multinational and domestic financial services players are investing heavily into Fintech. This is the key enabler for the Indonesian population to access e-wallets, make online payments and manage all their banking and insurance activities. There is also keen competition between the traditional financial services firms and the new Fintech start ups for Indonesian talent right now which is really driving the healthy hiring activity.”

 

Similarly, the uptick in Digital job opportunities (up 14%) is again led by tech unicorns who initiated growth in Indonesia and is currently being fuelled by changing lifestyles due to the pandemic. “Indonesia is a young population who are savvy with home deliveries and online services which makes it a very compelling demographic for rapid growth in this space. We have seen quite an increase in employment opportunities as well within private equity and venture capital firms for their portfolio businesses, which are often in digital and technology,” Olly Riches continues.

As the population becomes increasingly connected, Indonesians who live in farther out locations now have access to education and healthcare via technology as well. In order to provide these essential services to the large population, Medtech and Edtech have also emerged as one of the key growth areas in order to reach citizens living outside of the major cities.

 

The technology required to deliver on those platforms has also created the 13% rise in job opportunities. “Primarily seen in software development and product engineering, the government push led by President Jokowi to nurture these talents within Indonesia is key to ensuring we maintain a sustainable technology-driven economy and increase the prominence of Indonesia on the world map,” speaks Olly Riches from recent observations.

 

Source: Information procured from Michael Page Indonesia’s proprietary data

 

Employment Led by 11% Quarter on Quarter Rise in Job Opportunities Within Technology: Michael Page Thailand

BANGKOK, THAILAND – Media OutReach – 26 October 2021 – Global recruitment specialists Michael Page Thailand witnessed a marginal 2% quarterly increase in overall job numbers within Q3 2021 as hiring evened out after the surge in the early parts of 2021.

Kristoffer Paludan, Regional Director of Michael Page Thailand

 

With consistent employment demand, Thai professionals with the right combination of technical and behavioural competencies will continue to be in demand and command a higher ratio of salary. Additionally, competition for talented professionals is intensifying and companies are increasingly adopting a candidate-first mentality and paying more attention to the overall candidate experience, to help improve their brand, their process and their overall ability to attract talent.

 

The number of jobs within the Thai Technology sector rose by 11% in Q3 from Q2 2021. “This is partly led by a buoyant tech startup community which is experiencing very healthy private equity and venture capital investments. A resulting demand is seen for professionals skilled in data citation, project and program management as well as software development,” observes Kristoffer Paludan, Regional Director of Michael Page Thailand.

 

Hiring in the Thai Engineering & Supply Chain landscape saw similar levels of heightened activity at a rate of 9% in Q3 2021 compared to Q2. According to Kristoffer Paludan, this upward trend is driven by the significant uplift in food production and packaging, chemical manufacturing as well as electronics and electricals.

 

“We have seen a number of new players entering the Thai market in the above-mentioned sectors. That combined with the expansion of the domestic marketplace has driven the uplift in hiring activity. In addition, the decline in the Thai Baht is fueling the export market which in turn has seen an increase in vacancies across both procurement, supply chain, engineering as well as manufacturing,” comments Kristoffer Paludan.

 

Also earmarked for further growth within Thailand’s employment market is the healthcare industry. Thailand being the second largest healthcare market in SEA accounting for roughly 20% of the region’s healthcare expenditure is in urgent need of a talent infusion across most disciplines. As demand for hiring grows, so will the competition for talent.

 

Source: Michael Page Thailand proprietary data

#MichaelPageThailand

Pacific Oil & Gas Limited Rebrands to Pacific Energy Corporation Limited

SINGAPORE – Media OutReach – 26 October 2021 – Pacific Oil & Gas Limited (PO&G) has announced that it will rebrand its operations to become Pacific Energy Corporation Limited.

 

Ratnesh Bedi, President of Pacific Energy said, “The Pacific Energy name and new logo reflects the next step in our growth strategy dedicated to providing cleaner energy for North American markets and growing Asian economies. Our refreshed branding also creates a platform for new product development and future acquisitions.”

 

Pacific Energy, which is part of the Singapore-based RGE group of companies founded by Sukanto Tanoto in 1973, is an independent energy resources development company focused on helping North America and growing Asian economies meet their increasing energy requirements. The company strategy is to invest, develop, build, own and operate innovative and cost-competitive projects throughout the energy value chain, while maintaining constant attention to its role as a responsible corporate citizen.

 

Established Presence in China


Since 2003, Pacific Energy has taken strategic positions in China’s gas and related power markets. Pacific Energy is one of the first two foreign companies to own interests in liquefied natural gas (LNG) receiving terminals in China. Pacific Energy also successfully built and operates the first 100% foreign-owned combined cycle gas turbine (CCGT) power plant in Xiamen, and owns 70% stake in another CCGT power plant in Wuxi.  Power plants powered by natural gas are more efficient than traditional coal-fired power plants. They can also serve as an effective bridge fuel to meet energy demand when the supply from renewable sources does not provide consistent returns throughout the day.

Growing Presence in Canada


In Canada, Pacific Energy’s exploration and production of gas are conducted through its subsidiary Pacific Canbriam Energy (PCE). Acquired by Pacific Energy in 2019, PCE is a leading exploration and production company focused on finding and developing over-pressured, liquid rich natural gas resources in the Western Canadian Sedimentary Basin. Headquartered in Calgary, Alberta, with operations near Fort St. John, British Columbia, PCE differentiates itself from competitors through the quality of its resource and commitment to sustainability.

PCE achieved EO100™ Standard Certification from Equitable Origin in August 2021, signifying PCE’s demonstrated use of innovative and transparent practices to produce some of the world’s most sustainable and responsible natural gas.

 

Pacific Energy is expanding its existing presence in Canada with the Woodfibre LNG Project, a Liquefied Natural Gas (LNG) export facility located near Squamish, British Columbia, about 70km from Vancouver. The Woodfibre LNG Project has obtained a licence to export LNG for 40 years. The project has also received environmental approvals from the federal and provincial governments as well as the local Indigenous people:  the Squamish Nation. By using hydroelectric power for the refrigeration process, Woodfibre LNG will be one of the most innovative and cleanest LNG facilities in the world.

 

Bedi added, “We believe there is a distinct opportunity for Pacific Energy to expand as a competitive and sustainable gas-based value chain business. Economies around the world which have been hit hard by the impact of the global pandemic are rebounding at a rapid pace.  At the foundation of any economic recovery is ‘energy’.  We take great pride in providing clean energy to North American and growing Asian economies.” 

About Pacific Energy

Pacific Energy, which is part of the Singapore-based RGE group of companies, is an independent energy resources development company focused on helping North America and growing Asian economies meet their increasing energy requirements. The company strategy is to invest, develop, build, own and operate innovative and cost-competitive projects throughout the energy value chain, while maintaining constant attention to our role as a responsible corporate citizen.

#PacificEnergy

CPA Australia and HICPA sign Memorandum of Cooperation

HAIKOU, CHINA – Media OutReach – 26 October 2021 – CPA Australia, one of the world’s largest professional accounting bodies, and the Hainan Institute of Certified Public Accountants (HICPA) have today announced the signing of a Memorandum of Cooperation (Memorandum).

 

The Memorandum is designed to facilitate closer collaboration between CPA Australia and HICPA. Together, the bodies aim to enhance the standard of international accounting professionals, broaden opportunities for members from both bodies, and commit to the future development of the Hainan Free Trade Port.

 

He Yongmei, Secretary General of HICPA and Deborah Leung FCPA (Aust.), Executive General Manager International of CPA Australia, signed the Memorandum at a virtual signing ceremony in October. Over 600 representatives from the Hainan Ministry of Finance, the financial and accounting industry and the business community across Greater China attended the virtual ceremony.

 

William Huang FCPA (Aust.), President of CPA Australia’s South China Committee, said the signing of the Memorandum was a great milestone in the relationship between the two bodies.

 

“Today marks the first anniversary of the announcement of the Hainan Free Trade Port Institutional Integration and Innovation Action Plan 2020 – 2022. We are very proud to strengthen our relationship with HICPA on such a remarkable day, which we hope will contribute to the Action Plan by nurturing high-level talent in Hainan.

 

“Accounting and financial professionals play a critical role in enhancing the trade and investment relationship between Hainan and the world and establishing Hainan into a globally influential and high-level free trade port.

“As a leading global accounting body with deep commitments in Mainland China, CPA Australia has worked closely with HICPA in promoting professional standards in the region for many years. We believe this Memorandum will strengthen our relationship and enable us to continue working together to advance the knowledge, professional networks, skills and competitiveness of accounting and finance professionals.

“Together with HICPA, we look forward to creating more continued professional development resources and career development opportunities for our members, while elevating professional standards and positively contributing to the sustainable development of the Hainan Free Port,” Huang said.

 

CPA Australia has also collaborated with the Chinese Institute of Certified Public Accountants (CICPA) since the early 1990s. Through the International Partnership Program, CPA Australia offered members from CICPA the opportunity to study the CPA Program and obtain the CPA Australia designation from 2007 to 2010. In 2020, the CPA Australia designation was added to the “Accreditation Criteria for Hainan Free Trade Port High-level Talent” released by the Hainan Government.

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

Thai Conspiracy Theorist Calls on Lao Authorities to Investigate Naga Fireballs

Mysterious Naga Fireballs in the Mekong River
Mysterious Naga Fireballs in the Mekong River (Photo: J A Forbes)

A Thai national and head of a group of conspiracy theorists has called on authorities in Laos to investigate the source of mysterious fireballs known to appear in the Mekong River.