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GuarantCo launches new report on mobilising private investment into sustainable infrastructure in Indonesia

  • Proposes knowledge-sharing among policymakers and market participants to increase awareness and demystify misconceptions of using credit guarantees for infrastructure in Indonesia
  • Recommends exploring the development of new guarantee products specific to Indonesia, based on a deep understanding of market needs

JAKARTA, Indonesia, March 3, 2025 /PRNewswire/ — GuarantCo, part of the Private Infrastructure Development Group (PIDG), has published an insightful new Indonesia Market Report on Credit Guarantees (“Indonesia Market Report”). The report explores how credit guarantees can be used to mobilise private investment into the country’s critical sustainable infrastructure projects.

The report is based on new data analysis and illustrated by case studies of how this strategic approach has been used successfully by GuarantCo in other emerging markets across Asia.

The report was launched at an exclusive PIDG Institute event, hosted in partnership with Infrastructure Asia, at the Ritz-Carlton Jakarta last night. The event was attended by key stakeholders in Indonesia’s infrastructure sector such as policymakers, investors, and project developers.

Indonesia, the largest nation in Southeast Asia by population and landmass, stands at a critical juncture in its pursuit of sustainable infrastructure development. With a commitment to achieving net-zero emissions by 2060, the country is presented with both opportunities and challenges in achieving its long-term infrastructure goals.

A significant funding gap necessitates more innovative financing solutions. Infrastructure financing in Indonesia is highly dependent on public funds, with 37 per cent expected from the state budget and 21 per cent from state-owned enterprises, based on RJPMN 2020-2024 over the previous period. Private investment, covering the remaining 42 per cent of total needs, is key to sustaining infrastructure development. The private sector has significant potential to play a transformative role in bridging the financing gaps necessary to advance this nationally important agenda.

In the Indonesia Market Report, GuarantCo brings together analysis of the financing landscape, an evaluation of long-term debt credit options and assessment of market constraints to build a comprehensive vision for a way forward. The report is designed to be a practical resource to empower stakeholders with insights and strategies to engage blended finance players from the public and private sector in this critical mission.

The report highlights credit guarantees as one such innovative financing solution, which can more efficiently blend financing instruments to leverage larger amounts of private capital using public funding. Credit guarantees can play a vital role in unlocking new capital pools for infrastructure financing and offering an alternative approach for risk mitigation.

The report provides four recommendations, inviting further engagement amongst stakeholders to more effectively utilise this innovative financing product:

  • Conduct knowledge-sharing among policymakers and market participants to increase awareness and demystify misconceptions of using credit guarantees for infrastructure in Indonesia
  • Explore the development of new guarantee products specific to Indonesia, based on a deep understanding of market needs
  • Create partnerships with international and national guarantors to share guarantee capacity, knowledge and leverage each other’s unique strengths and knowledge
  • Engage in policy dialogue on guarantees to foster open communication and shared understanding on a way forward for development of credit guarantee markets for infrastructure.

British Ambassador to Indonesia Dominic Jermey said: “Mobilising private investment is essential to financing Indonesia’s sustainable infrastructure, as well as delivering economic growth and climate-resilient development. As a major funder of PIDG, the UK is delighted to see GuarantCo helping to unlock more private capital in Indonesia through innovative financial mechanisms, boosting investor confidence and enabling finance to flow. Together with our sustainable infrastructure platform, MELAJU, recently launched in Jakarta, the UK is working alongside Indonesia to deliver high-quality, bankable infrastructure projects that create jobs, benefit communities, promote equality and drive long-term prosperity.”

Philippe Valahu, CEO of PIDG and Chair of the GuarantCo Board, said: “The development of sustainable infrastructure is pivotal to bolstering economic growth and promoting equality in Indonesia. The Government has rightly prioritised this sector, resulting in significant improvements in both the quantity and quality of new infrastructure in recent years. There is a great opportunity for private capital to be mobilised to support these efforts. Our PIDG Institute event and the GuarantCo report are designed to help address existing barriers to accessing capital for sustainable projects and dramatically increase Indonesia’s global competitiveness in this regard.”

Nishant Kumar, Managing Director of Asia Investments at GuarantCo, said: “We have a wealth of experience in employing innovative credit solutions to help close the infrastructure funding gap by crowding in private capital. This report builds on our proven expertise across Southeast Asian markets, including Vietnam and Cambodia, and explores how these insights can be applied specifically to accelerating sustainable infrastructure development in Indonesia.”

Lavan Thiru, Executive Director of Infrastructure Asia, said, “We are pleased to co-organise the event with PIDG and extend our congratulations on the successful report launch. The report offers valuable insights on the use of innovative financing mechanism, such as credit guarantees, to mobilise private capital and bridge the funding gap. At Infrastructure Asia, we are committed to fostering strategic partnerships between public and private stakeholders to enable the co-development and financing of sustainable infrastructure across Asia. By working with trusted partners like PIDG and GuarantCo, we can unlock the potential of Indonesia’s infrastructure sector and contribute to its continued economic and social growth.”

The Indonesia Market Report is available to be downloaded here.

Liberty Mutual Insurance Agrees to Sell Thailand and Vietnam Operations to Chubb

Deal reflects Liberty Mutual’s conviction to its focused Asia Pacific strategy

BOSTON, March 3, 2025 /PRNewswire/ — Liberty Mutual Insurance has agreed to sell its operations in Thailand and Vietnam to Chubb Limited. Terms of the deal have not been disclosed. Thailand is expected to close by the second quarter of 2025 and Vietnam is expected to close in 2026, subject to certain closing and regulatory conditions.

The sale includes LMG Insurance Public Company Limited (LMG Insurance), a top 10 motor and non-life insurer in Thailand, and Liberty Insurance Limited (Liberty Insurance), the leading foreign retail motor insurer in Vietnam. The majority of each company’s written premiums is motor insurance, and both also offer accident and health and other property casualty products through multiple distribution channels.

This transaction allows Liberty Mutual to focus on its portfolio in Asia Pacific, projected to be the largest property and casualty insurance market by 2045. The company will continue to execute on its strategy to capitalize on the greatest opportunities in the region through remaining operations in Australia, China, Malaysia, Hong Kong, Singapore and India.

Thailand and Vietnam are well-performing businesses with real potential, and this transaction aligns them with an organization that has the strategy and commitment to invest in the development of these markets,” said Liberty Mutual President and Chief Executive Officer Tim Sweeney. “We are grateful to our teams who have been dedicated to serving the needs of our clients, brokers and partners in these markets.”

Goldman Sachs acted as financial advisor, and Baker McKenzie, Thailand and Baker & McKenzie (Vietnam) Ltd. provided legal advice to Liberty Mutual in the transaction.

About Liberty Mutual Insurance 
At Liberty Mutual, we believe progress happens when people feel secure. By providing protection for the unexpected and delivering it with care, we help people and businesses embrace today and confidently pursue tomorrow. 

In business since 1912, and headquartered in Boston, today we are the eighth largest global property and casualty insurer based on 2023 gross written premium. We also rank 87 on the Fortune 100 list of largest corporations in the US based on 2023 revenue. As of December 31, 2023, we had $49.4 billion in annual consolidated revenue. 

We employ over 40,000 people in 29 countries and economies around the world. We offer a wide range of insurance products and services, including personal automobile, homeowners, specialty lines, reinsurance, commercial multiple-peril, workers compensation, commercial automobile, general liability, surety, and commercial property. 

For more information, visit www.libertymutualinsurance.com

Media inquiries: mediarelations@libertymutual.com

Logo – https://laotiantimes.com/wp-content/uploads/2025/03/liberty_mutual_insurance_logo.jpg 

Thailand to Implement 300-Baht Tourism Tax by Year-End

Thailand to Implement 300-Baht Tourism Tax by Year-End
A tourist in a rented traditional Thai costume poses for photographs at Wat Arun Buddhist temple in Bangkok on November 18, 2024. (Photo by Lillian SUWANRUMPHA / AFP)

Thailand’s 300-baht tourism tax for foreign visitors is set to take effect by the end of this year, Thailand’s Tourism and Sports Minister Sorawong Thienthong announced on 24 February. 

Engineering marvel unveiled: Kai Tak Sports Park sets new standards in design and innovation


HONG KONG SAR – Media OutReach Newswire – 3 March 2025 – Kai Tak Sports Park (KTSP) officially opened on 1 March 2025 as the largest integrated sports and entertainment complex in Hong Kong, setting a new benchmark in design innovation and engineering excellence.

Engineering marvel unveiled: Kai Tak Sports Park sets new standards in design and innovation

With Arup as the engineering consultant, KTSP is designed to cater to the city’s unique urban environment and its vibrant community, providing an unparalleled experience for visitors and spectators alike.

“Kai Tak Sports Park is a testament to our commitment to pushing the boundaries of design, innovation, and sustainability. We’re immensely proud to help realise this new icon for Hong Kong, which will promote community sports and support the hosting of international events in our city.”

Michael Kwok, East Asia Region Chair, Arup

A venue like no other

Central to the park is the 50,000-seat Kai Tak Stadium, dubbed as the ‘Pearl of the Orient’. Designed to address Hong Kong’s humid sub-tropical climate, the stadium features one of the world’s largest retractable roofs and a flexible pitch surface, allowing the venue to host a variety of events in any weather.

The retractable roof, weighing nearly 4,800 tonnes, operates quietly and can open or close in just 30 minutes using advanced mechanisms similar to railway technology. To support this massive roof, Arup engineered a bespoke structure with four mega trusses spanning between 150m to 180m, anchoring on four bearing-free reinforced concrete towers at the corners to ensure an unobstructed view for every spectator. Building information modelling (BIM) was fully adopted to optimise the structural design, ensuring constructability and minimising steel use.

Given the stadium’s proximity to residential areas, the retractable roof is acoustically sealed when closed, using sound-proof barriers and heavy cladding panels to dampen low-frequency sound, making the stadium one of the most efficient soundproofing sports facilities in the world.

Spectator experience redefined

The stadium boasts a pioneering air-conditioning system activated when the roof is closed. This system adopts a bowl cooling method with individual outlets beneath each seat, circulating cool air in spectator areas without having to cool the entire stadium. This approach optimises spectator comfort while enhancing energy efficiency.

The successful implementation of this system is a result of the meticulous coordination and integration between structural and MEP engineering. Advanced precast construction techniques have been used alongside an innovative multi-trade integrated MEP (MiMEP) design approach, setting high standards in both functionality and sustainability.

Seamless accessibility for visitors

Pedestrian access to KTSP is seamlessly integrated at the podium level, ensuring safe and convenient visitor movement without the need to cross busy roads. The facilities throughout the park are interconnected through thoughtfully designed paths and walkways, enhancing the visitor experience.

Arup’s total engineering services for KTSP extend to the 10,000-seat Kai Tak Arena, the 5,000-seat Youth Sports Ground, and various retail and leisure spaces.

“Working closely with our clients and partners, our multidisciplinary engineering team has overcome numerous challenges to bring Kai Tak Sports Park to life. We’ve accomplished something incredible together, delivering a vibrant hub that will enrich the community.”

Ben Lam, Project Director of Kai Tak Sports Park, Arup

Working in close collaboration with the Culture, Sports and Tourism Bureau, Kai Tak Sports Park Limited, Hip Hing Engineering Co. Ltd, Populous, Simon Kwan & Associates Ltd., and ADI Limited, Arup provided civil, structural, geotechnical and building services engineering, as well as traffic, fire engineering, façade, acoustics, audio-visual, sports lighting, advanced digital engineering, security, environmental and sustainability consulting.Hashtag: #Arup

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

About Arup

Dedicated to sustainable development, Arup is a collective of 18,000 designers, advisors and experts working across 140 countries. Founded to strive for humanity and excellence in everything that we do, we collaborate with our clients and partners, using imagination, technology, and rigour to shape a better world.

Five Footway Festival 2025 Honours Chinatown’s Storied Past through Immersive Cultural Experiences

Happening from 14 – 23 March 2025, this year’s festival features a line-up of new and exciting activities, including a Theatrical Walking Tour based on a fictional account of a letter writer’s life in the 1940s, a guided tour at the recently reopened Chinatown Heritage Centre, Kaya Making Workshops, and more.


SINGAPORE – Media OutReach Newswire – 3 March 2025 – The Chinatown Business Association proudly presents the fourth edition of the Five Footway Festival, running from 14 to 23 March 2025. This festival honours Singapore’s iconic five-footways and Chinatown’s rich heritage through immersive experiences, performances, and workshops.

Executive Director of the Chinatown Business Association, Ms Lim Yick Suan shared, “The Five Footways of Chinatown are more than just physical spaces – they are a living testament to the rich heritage, resilience, and spirit of the community that have shaped Singapore especially as we celebrate SG60 this year. This year’s Five Footway Festival provides an opportunity to explore Chinatown’s vibrant past through engaging cultural experiences, allowing visitors to immerse themselves in the sights, sounds, and tastes that bring Chinatown’s history to life.”

TAKE A STROLL THROUGH HISTORY WITH CAPTIVATING WALKING TOURS
This year’s Five Footway Festival invites visitors to explore the rich history of Chinatown through four immersive walking tours, each offering a distinctive glimpse into the district’s lively past and present.

Among the highlights is the Chinatown Theatrical Tour – Letter Writer’s Lament, a storytelling journey that transports participants back to the 1940s. Led by Let’s Go Tour, winner of Tripadvisor’s Traveler’s Choice Awards and a finalist in the 2024 Singapore Tourism Awards, this experience follows the journey of Ace Wan, a young immigrant who found his calling as a Chinese letter writer. Through a blend of theatre and history, visitors will witness the struggles and aspirations of early immigrants, retracing the lives of early immigrants who once gathered along the bustling five-footways.

Under One Roof” – An Immersive Guided Experience @ Chinatown Heritage Centre offers a rare glimpse into the daily lives of Chinatown’s early residents. Housed within three shophouses, the centre recreates the 1950s interiors of its tenants, from family homes to tradesmen’s workshops to offer an authentic glimpse into the lives of Chinatown’s early residents.

The OG Hustlers walking tour celebrates the resilience of Chinatown’s pioneers, who transformed its narrow five-footways into thriving hubs of trade and community. Step inside century-old establishments like Pek Sin Choon, one of Singapore’s oldest tea merchants, and beloved Cantonese pastry shop Tong Heng to uncover the enduring legacies of these family-run businesses. For those eager to explore beyond the heart of Chinatown, Hey Bukit Pasoh! The Vibrant Yesteryears takes visitors through the charming enclave of Bukit Pasoh. Discover hidden gems where the past and present of Singapore’s heritage scene come to life – from The Pioneers’ Memorial Hall (PMH), which honours the contributions of Singapore’s leaders, to the iconic filming locations of Crazy Rich Asians.

A SPECTACULAR SHOWCASE OF CULTURAL PERFORMANCES
Smith Street comes alive with vibrant performances at this year’s Five Footway Festival! Meet and Greet Stilt Walkers in traditional wear and be amazed by show-stopping Lion Dances from renowned and award-winning troupes, including Singapore Tian Eng Dragon & Lion Dance Centre (新加坡天鷹龍狮学院) and Singapore Hok San Association (新加坡鶴山會館武術醒獅團), Singapore’s first lion dance troupe.

Look forward to an exciting lineup of performances, including Face Changing (变脸), traditional Chinese music featuring the guzheng (古箏) and pipa (琵琶), Street Storytelling, and Reverberations of Heritage, a lively performance featuring Chinese instruments. Don’t miss the thrilling Monkey King Show and Wushu Performance by Choy’s Brothers Opera Troupe.

Bilingual puppetry theatre Paper Monkey Theatre presents a unique blend of traditional Chinese hand puppetry and modern theatrical techniques in their Hand Puppet Show: The Tiger Hero (武松打虎). Inspired by The Water Margin, one of China’s great classic novels, this tale follows the courageous Wu Song as he bravely faces a ferocious tiger in a thrilling test of strength and wit.

Adding to the festivities, opera performances will take place every weekend, bringing to life beloved stories from Chinese folklore. Audiences can also enjoy a traditional Beijing Opera Performance by Ping Sheh and a Teochew Opera & Drums Performance by Nam Hwa Opera (南华潮剧社), one of Singapore’s most prominent and prolific Teochew Opera companies. Featuring performers ranging from 10 to 70 years old, the performance will showcase the depth and vibrancy of this traditional art form through captivating storytelling, elegant movements, and the rich musical heritage of Teochew opera.

DIVE INTO TRADITION WITH INTERACTIVE WORKSHOPS
Visitors can dive into the rich heritage of Chinatown through enriching workshops and highlight various aspects of its history and traditions.

Food plays a key role in Singapore’s cultural identity, both past and present. In the Kaya Making Workshop, participants will learn step-by-step techniques to make traditional Gula Melaka Kaya. The Intangible Cultural Heritage of Ang Ku Kueh workshop will provide insights into this iconic red pastry, allowing participants to make it the traditional way. The Teochew Png Kueh Masterclass offers a chance to learn the art of creating the beloved savoury glutinous rice cake. In the Get Prosperous with Egg Huat Kueh workshop, attendees will discover the history and varieties of Huat Kueh (prosperity cake) and learn to make traditional Egg Huat Kueh. The Chinese Kung Fu Tea Workshop provides hands-on experience in the art of Chinese tea, where participants will explore the cultural significance of tea and learn to brew and serve traditional varieties.

The Sights & Sounds of Chinese Opera workshop offers an exploration into the world of Cantonese Opera, featuring insightful discussions, live demonstrations, and an excerpt from a traditional Chinese Opera performance, all accompanied by a soothing Chinese tea experience.

Visitors can also join the Plate Spinning Experiential Workshop, where they will learn the fundamentals of plate spinning, from balancing to keeping the plates in motion. Additionally, there are free workshops such as the Chinese Ink Painting, Bamboo Pinwheel Making and Bamboo Windchimes Making, where visitors can try their hand at crafting these traditional items.

FIVE FOOTWAY FESTIVAL: A FESTIVAL FOR ALL
In collaboration with Sun Yat Sen Nanyang Memorial Hall, and students from Hwa Chong Institution, the festival will showcase an exhibition entitled “The Warmth and Bustle of The Five-Footways”, which explores the history of the five-footways, including the trades, occupations, and recreational activities commonly found along these iconic walkways.

“While Chinatown today is modern and vibrant, the local Chinese community still cherishes its past, when the five-footway space was defined by the simple charm of everyday life. This exhibition offers a glimpse into the lives of early Chinese in Singapore, it aims to preserve traditions, and foster appreciation for local cultural heritage.” said Ng Kia Hui, Senior Manager, Education & Outreach, Sun Yat Sen Nanyang Memorial Hall.

Along Smith Street, visitors can also enjoy a Chinese Opera Roving Exhibition , as well as a Mini Food & Retail Bazaar, a Street Scene Photo Booth, and a Traditional Games Booth featuring nostalgic games such as pick-up sticks, five stones, marbles, and the eraser game – all taking place along the bustling Smith Street.

On select days during the festival, insightful talks will delve into The Beauty of the Hokkien Language, alongside informative Traditional Chinese Medicine (TCM) Health Talks led by Science Arts TCM Clinic, focusing on cholesterol levels and eye health.

Admission to the Five Footway Festival is free. Tickets for selected workshops can be purchased from Peatix here. More information about the programme rundown and festival can be found on Chinatown Singapore’s website here.
Hashtag: #ChinatownBusinessAssociation #FiveFootwayFestival



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

About Chinatown Business Association

The Chinatown Business Association (CBA) has been a key player in preserving the cultural heritage of Chinatown while fostering a thriving business community. By building strong ties with stakeholders and the business community, CBA leads placemaking efforts that honour the past while looking toward the future, ensuring Chinatown continues to be a vibrant part of Singapore’s urban landscape.

Upgraded to be Global: New Era of e-Business Comes

FUZHOU, China, March 3, 2025 /PRNewswire/ — The 5th China Cross-Border E-commerce Trade Fair, acclaimed as the No. 1 cross-border e-commerce exhibition in China, will take place from March 18th to 20th in Fuzhou, a southeastern coastal city in China. Overseas guests of online sellers, service providers, associations, influencers and content creators are all welcome to visit for e-business exploration.


20% Expansion in Size, Gathering Global Platforms in One Stop

e-biz Fair, e-biz Share. As a national-level professional exhibition, the 5th China Cross-Border E-commerce Trade Fair is characterized by its high-level organization, large-scale size, various range of exhibitors, extensive buyer invitations, and complete industrial elements. It is widely recognized as the “Canton Fair” of the cross-border e-commerce sector. The size of the fair has expanded by 20% compared to the previous session, with an area reaching 60,000 square meters. It gathers lots of popular global e-commerce platforms, including Amazon, Walmart, eBay, Alibaba, SHEIN, TikTok Shop, TEMU, Rednote, 1688, Shopee, Lazada, and Mercado Libre etc,.

80% of Participants are Suppliers

The 5th China Cross-Border E-commerce Trade Fair adheres to the principle of maintaining 80% of exhibitors as manufacturers and prioritizing transactions. Till now, more than 1,800 enterprises from all over China have participated, with overseas companies from the United States, France, Poland as well. Additionally, over 10 well-known influencers from Malaysia, Indonesia, etc. has promised to show themselves to the fair, to conduct live-streaming sales. These weeks, some online sellers and TikTok influencers from Europe and America have also praised the fair.

photo taken in 2024 session
photo taken in 2024 session

The New Conference Positioned at the Leading edge and High-end

The fair will coincide with the 2025 China Cross-Border E-commerce Conference, which will conduct in-depth analyses on leading-edge topics such as industrial trends, platform policies, AI tech, network flow, and model transformation. The conference will also release a significant annual report for the cross-border e-commerce industry, named 2025 Blue Paper on Upgrading and Development of China Export Cross-Border E-commerce, marking the industry’s development journey and future trends. The conference aims to become the most influential event in the cross-border e-commerce sector.

E-commerce is the new trend in global retail, and cross-border e-commerce is an emerging industry in the era of globalization.

Purchasing and marketing globally. The 5th China Cross-Border E-commerce Trade Fair welcomes global visitors to enjoy the convenience of visa-free entry and participate in this grand event together.

photo taken in 2024 session
photo taken in 2024 session

 

 

Asian Electronics Online Exhibition 2025 Kicks Off – Unlock Cutting-Edge Innovations & Global Trade Opportunities


TAIPEI, TAIWAN – Media OutReach Newswire – 3 March 2025 – The Asian Electronics Online Exhibition 2025 (ASIANTRONICS 2025) is set to redefine global sourcing and collaboration in the electronics sector. Running from March 3, 2025, to June 30, 2025, this hybrid event seamlessly integrates virtual and physical elements, providing an unparalleled platform for buyers to connect with top-tier Asian suppliers, manufacturers, and exporters.

新聞稿圖片 en 1200x628 (2)

Jointly organized by AsianNet and TradeAsia (www.e-tradeasia.com/), the event has been successfully held since 2022, delivering impressive results in both participation and quality. For 2025, we are expanding the scope of the exhibition, with a four-month extension that strategically aligns with major industry events such as MWC Barcelona (Mobile World Congress, MWC), IPC APEX EXPO, electronica China, PCIM Europe, and the (DAC) Design Automation Conference. This extended timeline offers international buyers the convenience of attending multiple key events in one seamless purchasing experience, while creating greater momentum for exhibitors and enhancing global networking opportunities.

This year’s event will feature an impressive lineup of renowned Taiwanese suppliers, including AIRWAVE TECHNOLOGIES, GOOD OPPORTUNITY ELECTRONIC, UNILONGENTERPRISECO, HOW DER ELECTRONIC, THUNDER COMPONENTS, ARIOSE ELECTRONICS, ESMT, YNG YUH ELECTRONIC, CHIEN SHERN ENTERPRISE, ET&T TECHNOLOGY, BIPOLAR ELECTRONIC, CLEVER INTELLIGENCE, LEGEND LIFESTYLE, and FORTRON INDUSTRIAL. These industry leaders will showcase thousands of cutting-edge electronics products, covering a diverse range of categories such as Active Components, Connectors & Terminals, Consumer Electronic Accessories & Parts, Electromechanical Components, Electronic Production Machinery, Optoelectronic Displays, Wireless & IoT Solutions, Automotive Electronics, Batteries, Chargers, Transformers, and more. Buyers can expect comprehensive, engaging, and highly specialized exhibition experience tailored to their procurement needs.

In response to the evolving landscape of international trade, ASIANTRONICS 2025 offers an array of virtual solutions to ensure accessibility and global reach. These include dedicated exhibitor pages, electronic catalogs, and virtual exhibition halls—all seamlessly integrated with TradeAsia. Buyers can explore products, initiate inquiries, and engage in procurement discussions in real time, eliminating geographical barriers and travel constraints.

With its extended duration and comprehensive platform, ASIANTRONICS 2025 is poised to be the most influential event for the electronics products industry in Asia. Don’t miss this opportunity to connect with leading suppliers and explore the latest innovations.

Visit the Online Exhibition Now:
https://www.etradeasia.com/online-show/38/Asian-Electronics-Online-Exhibition-2025.html

Founded in 1997, TradeAsia (www.e-tradeasia.com) is a premier B2B international trade platform, serving as a vital link between global buyers and suppliers. With millions of registered members, over 600,000 suppliers, and a vast catalog of products, TradeAsia is a trusted resource for businesses seeking to expand their international presence. By fostering collaborations with hundreds of trading entities worldwide, TradeAsia amplifies visibility and marketing impact for its members, providing a competitive edge in the global market.Hashtag: #TradeAsia

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

Avnet Survey: China Leads AI Product Design Boom, Global Optimism Surges

Global study finds engineers worldwide, including those in China and Japan unsure of where AI will make the most impact – because they see its potential everywhere

SINGAPORE, March 3, 2025 /PRNewswire/ — Engineers are looking at the opportunity for Artificial Intelligence (AI) in product development with cautious optimism as many are still assessing in which areas of their work AI will have the greatest impact. This is according to Avnet’s (Nasdaq: AVT ) fourth annual Avnet Insights survey, which has been keeping a pulse on how engineers are responding to the market – and looking ahead – since 2021.

Global Study: Electronics Engineers Explore AI's Potential
Global Study: Electronics Engineers Explore AI’s Potential

According to the study, engineers are beginning to feel more optimistic overall – 75% of engineers believe market conditions for their design products are improving. Furthermore, half (49%) anticipate that economic and market conditions in the next year will facilitate their product design and development work. In terms of regional optimism, engineers in Mexico expressed the highest level of optimism (87%), followed by China (85%). While Japanese engineers also expressed optimism, their level (49%) was notably lower than their global counterparts.

Avnet Insights is an annual survey of engineers. The online survey gathered insights from 1,204 engineering professionals worldwide, including the United States, Mexico, the United Kingdom, Germany, China, and Japan, between October 31 and November 15, 2024. APAC respondents comprised 34% of the total surveyed engineers.

 AI technology is poised to have an impact… everywhere.

Avnet Insights focused on a key technology that may be impacting the year to come – AI. The survey revealed that AI is rapidly transforming product design, with 42% of engineers globally already integrating it. Chinese engineers are leading the charge, with nearly two-thirds (66%) embracing AI in their designs, significantly ahead of the US at 46.5%.

Avnet asked engineers where emerging AI technology may have the biggest impact among 14 areas, from AI-driven simulation and testing to hardware design tools and software code generation. Respondents could not identify a single leading area of opportunity – indicating that, in fact, the opportunity may lay across the board.

“The breadth of AI’s potential impact across all aspects of product development is truly remarkable,” stated Tan Aik Hoon, Regional President of Avnet, South Asia & Korea. “Our survey results clearly demonstrate this, with engineers identifying a wide range of areas where AI can significantly improve their work, from accelerating design cycles and enhancing product performance to creating entirely new possibilities.”

Looking specifically at product development, nearly all (96%) engineers agree that AI will be somewhat-to-extremely likely to impact key product development functions, including: increasing automation of design tasks, enabling more personalized and customized designs, improving predictive capabilities for market needs, and reducing the overall time for product development cycles. 

Addressing challenges with added expertise.

Avnet found the top challenges engineers expect when considering integrating AI into their products include security and privacy concerns (37%) and data quality issues (31%). For about a quarter of engineers, integration with existing tools (25%) and high costs (24%) also are top-of-mind. In APAC markets, security and privacy concerns, along with data quality issues, are also within the top 3 challenges for engineers in both China and Japan, aligning with global trends. Notably, among the top three challenges, Chinese engineers also identified sustainability as a key concern, while Japanese engineers emphasized the need for increased performance.

“The rapid advancement of AI presents both exciting opportunities and unique challenges for the region,” stated Tan. “We are seeing engineers across the region grapple with concerns such as data quality issues, and security and privacy concerns, while also prioritizing factors like sustainability and increased performance, as highlighted by our survey findings. At Avnet, we have a long history of successfully navigating complex technological landscapes. We will leverage our deep expertise and extensive network to bring together leading suppliers, innovative customers, and a diverse ecosystem of partners to address these challenges and unlock the full potential of AI in Asia Pacific.”

Engineers also expect certain skills will help them capitalize on the immediate opportunity, Avnet found. The top skills engineers feel are most necessary to use AI effectively in product design include: data analysis and interpretation (16%), AI model optimization (16%), and problem-solving and critical thinking (16%). This aligns with the findings in Japan, where data analysis and interpretation (23%) and AI model optimization (23%) are even more highly prioritized by engineers. In China, however, problem-solving and critical thinking (20%) take center stage, followed closely by proficiency in digital design tools (19%) and an understanding data needs (13%).

“By addressing the challenges identified in our survey, such as data security, privacy, and the need for skilled talent, and by fostering a collaborative ecosystem that leverages the unique strengths of each market across Asia Pacific, we can unlock the full potential of AI to drive economic growth and improve lives across the region. Avnet is committed to playing a crucial role in this journey by providing our customers with the necessary tools, technologies, and expertise to succeed in this exciting new era of AI-powered innovation. Together with our partners, we will empower engineers across the region to overcome these challenges and harness the transformative power of AI for the benefit of all,” Tan concluded.

The Avnet Insights 2025 whitepaper with the full details is available here.

About Avnet

As a leading global technology distributor and solutions provider, Avnet has served customers’ evolving needs for more than a century. We support customers at each stage of a product’s lifecycle, from idea to design and from prototype to production. Our unique position at the center of the technology value chain enables us to accelerate the design and supply stages of product development so customers can realize revenue faster. Decade after decade, Avnet helps its customers and suppliers around the world realize the transformative possibilities of technology. Learn more about Avnet at www.avnet.com.

Avnet Asia Media Contact

Seraphina Wee
Corporate Communications and PR Manager
Seraphina,wee@avnet.com
(+65) 8569 2064