ASEAN-Australia Special Summit: Emerging industries fuel growth, jobs
A set of seven potential sunrise industries in ASEAN and neighbouring nations, including Australia, that will create momentum for economic growth and job creation were announced at the ASEAN-Australia Special Summit in Sydney, Australia on March 16.
Sydney (VNA) – A set of seven potential sunrise industries in ASEANand neighbouring nations, including Australia, that will create momentum foreconomic growth and job creation were announced at the ASEAN-Australia SpecialSummit in Sydney, Australia on March 16.
According to Data 61 from the data sciences and technology arm of Australia’sCommonwealth Scientific and Industrial Research Organisation (CSIRO), thoseemerging industries include artificial intelligence and autonomous systems,financial and regulatory services technology, high value nutrition, nextgeneration energy storage and distribution, cyber-physical systems security,personal health and ageing and digital infrastructure and connectivity.
Australian Minister for Jobs and Innovation Michaelia Cash stated opportunitiesfor Australia to cooperate with ASEAN member states to create new flow foreconomic growth and jobs in those countries.
The ASEAN members and Australia have enjoyed close economic ties with two-waytrade hitting over 100 billion AUD in 2017 fiscal year.
Australian Minister for Trade, Tourism and Investment Steven Ciobo stressed thesignificance of the new industries to the bilateral investment and trade in thefuture.
The emerging industries will help promote export growth and create more exportjobs in the coming time, he noted.
Ciobo said that ASEAN will be the fourth largest economy in the world by 2030and the bloc will have huge economic benefits when Australia helps it transformto digital economy.-VNA
An ASEAN-Australia Special Business Conference was organised on March 16 in Sydney, New South Wales, within the framework of the on-going ASEAN-Australia Special Summit.
Australian Minister for Trade, Tourism and Investment Steven Ciobo has announced a joint initiative between Australia and ASEAN countries to promote digital trade and support inclusive economic growth
Australia has tightened security ahead of the ASEAN-Australia Special Summit which is being held from March 16-18 in Sydney, the capital city of New South Wales.
Australian Prime Minister Malcolm Turnbull on March 17 announced Australia will provide an investment of 30 million AUD (23.4 million USD) to support “smart cities” in Southeast Asia.
Officials of Australia and the ASEAN member states signed a Memorandum of Understanding (MoU) on strengthening cooperation to counter international terrorism in Sydney, Australia on March 17.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
The 30-storey tower crumbled seconds after a 7.7-magnitude earthquake hit neighbouring Myanmar on March 28. The partially built high-rise, meant to house the State Audit Office (SAO), was the only building in Thailand to collapse, killing 89 people on the site, mostly construction workers.
Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
The new framework is designed to ensure that incoming investments deliver tangible national benefits, such as the creation of high-quality jobs for Malaysians and the development of local company ecosystems and technologies.
Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Thai Acting Prime Minister Phumtham Wechayachai on August 7 outlined his strategy for tackling drug problems in Thailand, aiming for a "Zero Drugs Thailand" within three months.
The US has described Malaysia's role as Chair of the Association of Southeast Asian Nations (ASEAN) as vital in helping ease tension between Thailand and Cambodia.
Indonesia ranks as the world's sixth-largest gold reserve holder, producing an estimated 160 to 200 tonnes annually, mainly through major state-owned enterprises. Despite this, much of the mined gold is held or traded abroad. In 2024 alone, Indonesia exported gold worth 5.4 billion USD while reimporting 2.6 billion USD worth of the metal.
Cambodia and Thailand vowed not to undertake provocative actions that may escalate tensions, including entering the other side’s air space and territory, and refrain from constructing or enhancing military infrastructure.
Logo of ASEAN bloc. (Photo: Internet) 
