#asean growth projection

[falseandrealultravival]

Dialogue with Gemini （８）Can Indonesia become a developed country？

President Joko

My Question:

What is the probability that Indonesia will become a developed country?

Indonesia, which wanted to run a high-speed railway in its own country, had decided to adopt Japan's Shinkansen, but pro-China President Joko Widodo suddenly decided to adopt China's high-speed railway. Construction was extremely difficult, and the "accident-prone" high-speed railway was completed four years behind schedule. China demanded extra labor costs outside the contract. As a result, fares rose and there were few passengers. Japan was asked to cooperate with the high-speed railway extension plan, but Japan naturally declined. What is the probability that Indonesia, which has neither the desire nor the ability to build its high-speed railway, will become a developed country?

インドネシアが先進国になれる確率は何％か？

自国にも高速鉄道を走らせたいと考えたインドネシアは、日本の新幹線を採用することに決まっていたが、親中派のジョコ大統領は、一転中国の高速鉄道を採用した。工事は難航を極め、予定より４年遅れで「事故の多い」高速鉄道が完成した。中国は契約外の工賃を要求した。ために運賃が上がり、乗客は少ない。高速鉄道の延伸計画について日本に協力を打診したが、日本は当然断った。自分で高速鉄道を創設する意欲も能力もないインドネシアが、先進国になれる確率は何％か？

Gemini’s Answer:

Assigning a specific probability of Indonesia becoming a developed country is difficult. The situation is complex, with both positive and negative factors at play. Here's a breakdown:

Positive factors:

Economic growth: While recent growth projections are around 5%, some officials believe 6-8% is needed for developed status by 2045. Indonesia has achieved impressive growth in the past and continues to reduce poverty.

Human capital development: The current development plan focuses on improving education and skills. This is crucial for a strong workforce.

Global leadership: Indonesia's successful G20 presidency and ASEAN chairmanship showcase leadership potential.

Negative factors:

Infrastructure challenges: The high-speed railway example highlights potential issues with project management and efficiency.

Dependency on foreign expertise: Relying solely on foreign technology could hinder the long-term development of domestic capabilities.

Geopolitical considerations: Decisions based on political leanings rather than pure economic benefit could hinder progress.

Overall:

Indonesia has the potential to become a developed country, but it faces challenges. The high-speed railway example doesn't define its entire future.

Here are some resources for further research:

World Bank Indonesia Overview: https://www.worldbank.org/en/country/indonesia

Indonesia's quest for developed country status: https://www.thejakartapost.com/business/2023/11/02/indonesias-quest-for-developed-country-status-faces-economic-hurdles.html

Instead of a single probability, consider these options:

Analysts and officials might offer different forecasts based on their models and assumptions.

You could evaluate the likelihood of Indonesia overcoming specific challenges, like infrastructure efficiency.

I hope this helps provide a more nuanced perspective!

My impression:

None of the AIs seem to be able to give a clear answer to the question about the future of the nation. (Gemini, Huggingface)

[southeastasianists]

In 2023, a significant demographic milestone emerged with broad social and economic impacts: the global population of adults aged 50 surpassed the number of children under 15 for the first time. Brunei Darussalam, a small, oil-rich Islamic country on the island of Borneo in Southeast Asia, faces challenges associated with this shift. Ranked as one of the world’s wealthiest nations due to its vast oil and gas reserves, Brunei’s population of 455,858 sees a contrast with a poverty rate of 5%, positioning it 11th out of 78 countries.

Hajah Nor Ashikin binti Haji Johari, Permanent Secretary at the Ministry of Culture, Youth and Sports (MCYS), highlighted the profound economic impact of the aging global population, noting the substantial expenditures on health care, research and support services. Furthermore, Hajah pointed out the rapid growth of the aging population and its broad implications. During Brunei’s chairmanship of the Association of Southeast Asian Nations (ASEAN) in 2021, Johari emphasized Brunei’s leadership in endorsing the ASEAN Comprehensive Framework on Care Economy.

Additionally, in 2017, an action plan spanning five years was adopted to enhance elderly development, welfare and protection, aiming to create a senior-friendly support system and reduce elderly poverty in Brunei. Unfortunately, an aging demographic compounded by an ominous surge in noncommunicable diseases (NCDs) such as heart disease, cancer, chronic respiratory disease and diabetes challenges Brunei’s socio-economic development.

Addressing Poverty and Social Protection in Brunei

Bruneians who live in poverty prefer to use the phrasings “living in need” and “difficult life” over “poverty” and “poor.” This exchange of phrasings intends to protect an individual’s self-confidence and self-esteem. Yet this preference challenges officials’ attempts to accurately assess the severity of poverty and implement targeted interventions.

However, Brunei’s social protection schemes encounter challenges. These challenges include limited coverage, differential treatment between public and private sectors, exclusion of unemployed individuals and inadequate support for vulnerable groups such as divorcees, widows/widowers, single parents, orphans, the abused and disabled people.

The Dual Impact of an Ageing Society

Across developing countries, evidence showcases the productivity, creativity, vitality and participation of older adults in workplaces, communities, households and families. According to ageInternational, some of the pros of an aging society include:

Consumer Market: Older adults can create new opportunities in the consumer market with higher disposable incomes and specific needs that can drive economic growth.

Accumulated Knowledge: An aging population can possess a wealth of knowledge and experience, beneficial for education and mentorship.

Stable Workforce: Older individuals provide greater stability in employment as they switch jobs less frequently.

In addition, the aging population significantly impacts the labor market. The dependency ratio, which compares the number of economically inactive individuals to those who are economically active, is set to increase. According to the International Labour Organization, some of the cons of an aging society include:

Labor Shortages: Addressing the need to create jobs for young individuals and encourage lifelong learning for older individuals to acquire new skills.

Pension and Retirement Challenges: Ensuring adequate pensions and financial support for retirees.

Limited Social Support Systems: Establishing social support systems, including affordable housing and accessible transportation, to enhance the quality of life.

Health care Costs: Investing in health care infrastructure to meet the growing needs of an aging population and prioritizing preventive health care measures.

Brunei at a Demographic Crossroads

As Brunei Darussalam navigates through its complex demographic and health landscape, proactive and holistic measures become imperative for securing the future prosperity of its people. Moreover, by addressing the multifaceted challenges head-on, Brunei is poised to set a precedent for demographic resilience and health sustainability.

Above all, the nation’s commitment to comprehensive solutions promises not only to enhance the well-being of its aging population and reduce elderly poverty in Brunei but also to pave the way for long-term national growth. At this pivotal juncture, Brunei’s journey offers valuable insights into the power of foresight and action in shaping a thriving society.

– Pamela Fenton

[123567-9qaaq9]

Detailed Report on Propane Dehydration to Propylene Market | BIS Research 

Propane dehydration to propylene is a chemical process in which propane (C₃H₈) is converted into propylene (C₃H₆) by removing hydrogen (H₂) molecules. This process typically occurs through catalytic dehydrogenation, where propane is passed over a catalyst, often chromium, platinum, or vanadium-based, at high temperatures (typically between 500°C and 700°C).

At BIS Research, we focus exclusively on technologies related to precision medicine, medical devices, life sciences, artificial intelligence (AI), machine learning (ML), Internet of Things (IoT), big data, blockchain technology, Propane Dehydration to Propylene Material , advanced materials and chemicals, agriculture and FoodTech, mobility, robotics, and aerospace and defense, among others.

The global propane dehydrogenation (PDH) to propylene market is projected to reach $22,721.2 million by 2031 from $10,314.6 million in 2022, growing at a CAGR of 9.2% during the forecast period 2022-2031.

Propane Dehydration to Propylene Overview  

Propane dehydration to propylene, also known as propane dehydrogenation (PDH), is a key industrial process used to convert propane (C₃H₈) into propylene (C₃H₆), an essential building block in the petrochemical industry. Propylene is a vital raw material in the production of polypropylene plastics, acrylonitrile, propylene oxide, and other chemicals.

Chemical Reaction

The primary reaction in propane dehydrogenation is the removal of hydrogen atoms from propane to produce propylene and hydrogen gas:

C3H8→C3H6+H2C₃H₈ \rightarrow C₃H₆ + H₂C3​H8​→C3​H6​+H2​

This is an endothermic reaction, meaning it requires the input of energy (in the form of heat) to proceed. The reaction typically takes place at high temperatures, generally between 500°C and 700°C, depending on the catalyst and reactor design used.

Catalysts Used in PDH Includes 

Chromium Based Catalysts 

Platinum Based Catalysts 

Vanadium Based Catalysts 

Bimetallic Catalysts 

Grab a look at the report page click here ! 

Key factors influencing market growth include 

Abundant availability of low cost propane feedstock especially from shale gas 

Rapid Industrialization and expanding consumer markets 

PDH technology is expected to play an increasingly central role in the global propylene supply chain, offering a more flexible and scalable solution for producers. 

The PDH market is poised for long-term growth, supported by favorable economic conditions, strong demand drivers, and continued innovation in process and catalyst technology.

In the automobile industry, the demand for propylene derivatives such as propylene oxide and polypropylene is rising due to the increasing number of electric vehicles that are made from lightweight materials.

Market Segmentation 

1 By Technology

CATOFIN

UOP Oleflex

Fluidized Catalytic Dehydrogenation (FCDh)

Steam Active Reforming (STAR)

Based on technology, the propane dehydrogenation (PDH) to propylene market is estimated to be led by the UOP Oleflex segment during the forecast period of 2022-2031. 

2 By End Users 

Automotive and Transportation

Construction

Packaging

Textile 

Electrical and Electronics

Based on end users, the propane dehydrogenation (PDH) to propylene market is estimated to be led by the packaging segment during the forecast period of 2022-2031.

3 By Derivative 

Polypropylene

Propylene Oxide

Acrylonitrile

Cumene

Alcohols

Based on derivative, the propane dehydrogenation (PDH) to propylene market is estimated to be led by the polypropylene segment during the forecast period of 2022-2031.

4  By Region 

North America - U.S., Canada, and Mexico

Europe - Germany, France, Italy, Spain, Russia, and Rest-of-Europe

China

U.K.

Asia-Pacific and Japan - Japan, India, South Korea, ASEAN, and Rest-of-Asia-Pacific and Japan

In the global propane dehydrogenation (PDH) to propylene market, China and North America are anticipated to gain traction in terms of propane dehydrogenation (PDH) to propylene production, owing to the presence of the world’s largest manufacturers in those regions.

Demand Drivers and Limitations 

Growing demand for propylene based products

Increased availability of shale gas 

Sustainable and Circular Economy Initiatives 

Petrochemical Demand 

Fluctuation in Crude Oil Price 

Have a look at the free sample click here ! 

Key Companies 

•    LyondellBasell Industries Holdings B.V.

•    Borealis AG

•    INEOS Group Limited

•    GAIL (India) Limited

•    Dow Chemical Company

•    Koch Industries, Inc.

•    Formosa Plastics Corporation

•    KBR Inc.

Recent Developments in Propane Dehydrogenation (PDH) to Propylene Market

In March 2022, KBR and ExxonMobil Catalysts and Licensing collaborated on the advancements of propane dehydrogenation (PDH) technology. Under the collaboration, ExxonMobil's proprietary catalyst technology would be combined with KBR's proprietary K-PRO PDH technology to convert propane into propylene.

In January 2022, Hyosung Chemical started the production of propylene by PDH technology for the production of polypropylene units. Before the start-up of this plant, the polypropylene units were dependent on imported propylene.

Visit our Next Generation Fuel/ Energy Storage Solutions 

Conclusion

The propane dehydration to propylene (PDH) market has experienced significant growth, driven by increasing global demand for propylene, especially for downstream products like polypropylene, acrylonitrile, and propylene oxide. 

[mordormr]

The ASEAN Construction Machinery Industry: Growth and Innovations

Introduction

The ASEAN Construction Machinery Market is projected to be valued at USD 7.63 billion in 2024 and is expected to grow to USD 10.5 billion by 2029, reflecting a compound annual growth rate (CAGR) of 6.59% during the forecast period from 2024 to 2029.

The ASEAN (Association of Southeast Asian Nations) construction machinery industry is a vital component of the region's economic development. As countries within ASEAN continue to urbanize and invest in infrastructure projects, the demand for advanced construction machinery is on the rise. This blog explores the current state, trends, challenges, and future outlook of the ASEAN construction machinery market.

Current Market Overview

The ASEAN construction machinery market is experiencing robust growth, driven by increasing government spending on infrastructure, urbanization, and the expansion of the construction sector. Recent market research indicates a significant uptick in the demand for heavy machinery, such as excavators, loaders, and cranes, as countries strive to meet their development goals.

Key Trends in the ASEAN Construction Machinery Industry

Infrastructure Development: The region's governments are investing heavily in infrastructure projects, including transportation, housing, and public utilities. This surge in construction activities is propelling the demand for construction machinery across ASEAN member states.

Technological Advancements: Innovations in construction machinery, such as automation, telematics, and advanced materials, are reshaping the industry. These technologies enhance productivity, improve safety, and reduce operational costs, making them attractive to construction companies.

Sustainability Initiatives: There is a growing emphasis on sustainable construction practices within the ASEAN region. Manufacturers are increasingly focusing on producing eco-friendly machinery that minimizes emissions and energy consumption, aligning with global sustainability goals.

Rising Rental Market: The rental market for construction machinery is expanding, driven by the desire of construction firms to reduce capital expenditures and access a wider range of equipment. This trend is particularly evident among small and medium-sized enterprises (SMEs) that prefer renting over purchasing machinery.

Digitalization: The adoption of digital technologies, including Building Information Modeling (BIM) and project management software, is transforming how construction projects are planned and executed. This shift is driving the demand for machinery that integrates seamlessly with digital platforms.

Challenges Facing the Industry

Despite its growth potential, the ASEAN construction machinery industry faces several challenges:

Regulatory Hurdles: Varying regulations and standards across ASEAN countries can create complexities for manufacturers and importers, impacting market entry and operations.

Skilled Labor Shortage: The lack of skilled operators and technicians poses a challenge to the efficient use of advanced machinery, affecting productivity on construction sites.

Supply Chain Disruptions: Global supply chain issues, exacerbated by the pandemic, have led to delays and increased costs for machinery components, impacting manufacturers' ability to meet demand.

Future Outlook

The future of the ASEAN construction machinery industry appears bright, with sustained growth expected in the coming years. As countries continue to prioritize infrastructure development, the demand for advanced and sustainable construction machinery will likely increase. Collaboration between governments, manufacturers, and industry stakeholders will be crucial in addressing challenges and capitalizing on growth opportunities.

Conclusion

In conclusion, the ASEAN construction machinery industry is poised for significant growth, driven by infrastructure investments, technological advancements, and a focus on sustainability. Stakeholders must remain informed about market trends and challenges to effectively navigate this dynamic landscape and leverage the opportunities it presents.

This blog content provides an overview of the ASEAN construction machinery industry, highlighting key trends, challenges, and future prospects based on market research insights.

[tamanna31]

Industrial Coatings Market Dynamics, Top Manufacturers Analysis, Trend And Demand, Forecast To 2030

Industrial Coatings Industry Overview

The global industrial coatings market size was valued at USD 87.19 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 2.5% from 2023 to 2030. 

Industrial coatings are widely used in various other end-use sectors, including automotive and vehicle refinish, electronics, aerospace, oil & gas, mining, marine, and power generation. Automotive and refinish coatings are among the major industrial coatings. The growing usage of refinish coatings for automotive maintenance, repair, and aftermarket painting on account of visual appearance, surface protection, and corrosion resistance is expected to propel the demand for industrial coatings.

Gather more insights about the market drivers, restrains and growth of the Industrial Coatings Market 

Moreover, the growing need for customized designs and paints in vehicles is likely to support the market growth. The U.S. is a leading manufacturer of aerospace and related components and one of the major aerospace markets in the world. The availability of well-trained aerospace engineers, machinists & other skilled laborers, and increasing air commute are driving investments in the U.S. aerospace industry. The presence of prominent aircraft manufacturers, such as The Boeing Company, Gulfstream Aerospace, and Textron Aviation, Inc., is expected to significantly fuel the growth of the aerospace industry in the country.

This, in turn, is anticipated to create ample growth opportunities for the market during the forecast period. Increasing awareness about vehicle paint protection by healing damages and scratches on vehicle surfaces has boosted market growth. Moreover, expanding the consumer base in the Middle East and Asia Pacific regions on account of the rising disposable income is expected to boost the product demand in the automotive and other end-use industries during the forecast period. Increasing demand for industrial coatings from packaging applications, such as caps & closures, and cans, is also projected to positively influence market growth in the coming years.

Excellent CO2 retention properties to preserve freshness and high flexibility & adhesion of these coatings are boosting their demand in the packaging industry. Furthermore, increasing construction activities drive product demand in the wood industry. However, environmental and health hazards associated with Volatile Organic Compounds (VOCs) are majorly affecting the industry growth. Various environmental and safety regulations, such as The Occupational Safety and Health Administration (OSHA), The Environmental Protection Agency (EPA), and California Air Resource Board (CARB), are being implemented by governments globally to limit the harmful effects of these compounds on human health and the environment.

Industrial Coatings Market Segmentation

Grand View Research has segmented the global industrial coatings market report on the basis of product, technology, end-user, and region:

Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Acrylic

Alkyd

Polyurethane

Epoxy

Polyester

Others

Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Solvent Borne

Water Borne

Powder Based

Others

End-user Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

General Industrial

Marine

Automotive & Vehicle Refinish

Electronics

Aerospace

Oil & Gas

Mining

Power Generation

Others

Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

North America

US

Canada

Mexico

Europe

Germany

France

U.K.

Italy

Asia Pacific

China

India

Japan

Australia

South Korea

ASEAN

Central & South America

Brazil

Argentina

Middle East & Africa

Saudi Arabia

UAE

Browse through Grand View Research's Paints, Coatings & Printing Inks Industry Research Reports.

The global synthetic dyes market size was estimated at USD 6.35 billion in 2023 and is projected to reach at a CAGR of 6.8% from 2024 to 2030. 

The global texture paints market size was estimated at USD 12,357.21 million in 2023 and is projected to grow at a CAGR of 4.5% from 2024 to 2030.

Key Companies & Market Share Insights

The industry is highly fragmented with the presence of several key as well as some small- and medium-scale global and regional players. The global players face intense competition from each other as well as from regional players who have well-established supply chain networks and are well aware of the regulations and suppliers in the market. Major players are involved in the expansion of their manufacturing facilities, R&D investments, mergers & acquisitions, and new product development to cater to the increasing global demand, ensure competitive effectiveness, enhance sales & operations planning, and expand their customer base. Some of the prominent players in the global industrial coatings market include:

Akzo Nobel N.V.

Axalta Coating Systems, LLC

Jotun

PPG Industries, Inc.

The Sherwin-Williams Company

Nippon Paint Holdings Co., Ltd.

Hempel A/S

Order a free sample PDF of the Industrial Coatings Market Intelligence Study, published by Grand View Research. 

[indiaandforeignaid]

Tech Diplomacy and Strategic Importance of India’s Technological Aid in Asia

In the dynamic landscape of international relations, technology has become an increasingly critical pillar, shaping how nations interact, compete, and collaborate. This fusion of diplomacy and technology, often referred to as tech diplomacy, is redefining the traditional understanding of soft power. For India, a nation on the road to becoming a global technological powerhouse, tech diplomacy has emerged as a potent tool to forge deeper ties across Asia and beyond. India’s technological prowess is steadily gaining global recognition, with its homegrown tech industry playing a pivotal role in driving innovation and economic growth. In Asia and India’s strategic use of technological aid is reshaping alliances and providing the nation with significant diplomatic leverage.

India’s technological advancements, particularly in sectors such as information technology, telecommunications, and space technology, have become instrumental in building partnerships with other Asian countries. Indian tech companies, government-backed initiatives, and international collaborations have positioned India as an important player in the region’s tech ecosystem. But beyond economic partnerships, India’s tech diplomacy involves offering technological assistance, resources, and expertise to its neighbors, which helps foster diplomatic goodwill and strengthens strategic alliances. This approach not only highlights India’s on going leadership in the digital space but also allows it to offer an alternative to the growing influence of China’s Belt and Road Initiative (BRI).

A recent and notable example of India’s tech diplomacy is its collaboration with Bhutan in the field of space technology. In 2020, the two countries launched the Bhutan-1 satellite, a collaboration facilitated by ISRO (Indian Space Research Organization). India provided crucial technical training and support, helping Bhutan launch its first satellite into space. This initiative is not only a reflection of India’s growing space capabilities but also an effort to nurture ties with its neighbors through knowledge sharing and capacity-building. By providing Bhutan with the tools to develop its satellite technology, India helped a smaller nation access space, something previously considered impossible for Bhutan. It also strengthened bilateral relations, positioning India as a friend that enables progress rather than as a domineering power.

India's partnership with ASEAN countries in digital connectivity and cybersecurity is another testament to the country's strategic technological aid. Through initiatives such as the India-ASEAN ICT Fund and other capacity-building projects, India has been instrumental in enhancing digital infrastructure in Southeast Asia. India’s role in assisting ASEAN nations to improve cybersecurity frameworks and build stronger digital economies plays a vital role in ensuring regional stability. In addition, India’s focus on providing affordable, scalable technology solutions such as low-cost telemedicine platforms demonstrates how tech diplomacy can address real-world challenges like healthcare access, especially in developing regions.

In Afghanistan, India’s tech diplomacy has been manifested through the Indian Technical and Economic Cooperation (ITEC) program. India helped build critical IT infrastructure in the country and trained Afghan professionals in various technical skills. Even as Afghanistan faces political instability, India’s technological investments have created long-lasting goodwill and a stable foundation for potential future cooperation. Through projects like these, India contributes to the socioeconomic development of war-torn regions, positioning itself as a stabilizing force while simultaneously advancing its own geopolitical interests.

India’s strategic investments in technology throughout Asia are not simply altruistic. They serve the dual purpose of fostering development and promoting India’s national interests. In a region where geopolitical tensions often run high particularly with China's growing influence, India’s tech diplomacy offers an appealing alternative for Asian countries seeking to diversify their technological partnerships. Another example, India’s strong presence in space technology and digital innovation counters China’s dominance in infrastructure through the BRI. While China focuses on physical connectivity, India emphasizes digital connectivity, providing an inclusive, tech driven pathway for economic and social development in the region. This approach aligns with India’s goal of becoming the leading digital partner of choice in Asia, while also mitigating its traditional security concerns regarding Chinese expansion.

Moreover, as the global competition for technological supremacy intensifies, India’s strategic use of tech diplomacy can be seen as a direct response to China’s expanding digital footprint in Asia which many scholars and academicians call neo-colonialism. By exporting its technological expertise, India creates opportunities to influence policies, shape digital governance norms, and ensure that democratic values are embedded in the region’s growing tech landscape.

India's private sector is an integral part of its tech diplomacy efforts. Companies like Tata Consultancy Services (TCS), Infosys, and Wipro are involved in developing technological solutions for several Asian countries. For example, TCS has played a crucial role in modernizing Malaysia’s e-governance systems, improving digital access, and supporting various national digital infrastructure projects. The involvement of private enterprises helps India enhance its image as a reliable partner in tech-driven growth. It also allows India to complement its diplomatic initiatives with tangible results on the ground, where partnerships go beyond the public sector to include innovation-driven private collaborations.

In today’s geopolitical climate, tech diplomacy is no longer a niche field but in fact is central to how nations interact. India’s tech diplomacy, particularly in Asia, offers a compelling alternative to authoritarian models of digital governance. India’s promotion of open, inclusive, and democratic tech ecosystems positions it as a counterbalance to more centralized, restrictive models. To maintain its strategic edge, India must continue investing in technological infrastructure, expanding collaborations across Asia in emerging areas like AI, quantum computing, and 5G. These efforts will help India shape the region's digital future while ensuring that its technological aid is sustainable and builds local capacities. 

India’s growing role in tech diplomacy reflects its evolving influence on the global stage. By fostering cooperation through digital innovation, space technology, and IT education, India is redefining relationships across Asia. Its focus on inclusivity and democratic values offers an alternative model of technological growth. In this era, tech diplomacy is about more than providing aid—it’s about shaping the future. India’s leadership in this space will be crucial in ensuring prosperity and stability for the region.

[darkmaga-retard]

Something quite extraordinary happened at the plenary session of the Eastern Economic Forum in Vladivostok last week – very much in tune with the forum’s main theme: “Far Eastern 2030. Combining Strengths to Create New Potential.”

The stage was shared by President Putin; Vice-President of China Han Zheng; and Prime Minister of Malaysia Anwar Ibrahim.

That translates as Russia-China-ASEAN: a key interlocking partnership, constantly being strengthened, on the road to explore all the potential towards a new, equitable, fair, multi-nodal (italics mine) world.

In his address, President Putin focused on what is arguably the most ambitious national development project of the 21st century: the Russian Conquest of the East – a mirror image of the Chinese Conquest of the West that started in earnest in 1999, via the “Go West” campaign.

Putin detailed how the Russian Far East is fast developing, with more than 3,500 techno-industrial projects. He expanded on the Northern Sea Route (NSR) – the Chinese call it the Arctic Silk Road – with building of new nuclear icebreakers and the development of the port of Murmansk included. The NSR’s turnover, Putin remarked, is already a record five times bigger, and counting, when compared to the USSR times.

All the numbers concerning the Far East and the Arctic are staggering. The Far East is a strategic macro-region occupying no less than 41% of the territory of the Russian Federation. The Arctic, an immense natural resource treasure, linked to the NSR potential, occupies 28% - accounting for 17% of Russian oil production, 83% of gas production and holding immense deposits of gold, coal, nickel, copper, cobalt, platinum group metals and diamonds.

EEF-2024: Russia shows readiness to help build international system reflecting interests of global majority “President Putin emphasized global cooperation, [that] Russia is ready to cooperate to establish a multipolar world order which reflects justice for a majority of… pic.twitter.com/vlr4xLbD2y— Sputnik (@SputnikInt) September 6, 2024

So it’s no wonder the recurrent Western colonialist dream of attacking, dismembering and plundering Russia – whose latest iteration is the obsession on inflicting a “strategic defeat” of Russia in Ukraine - is directly linked to grabbing and exploiting the infinite wealth of the Far East/Arctic.

Putin once again described how the two regions are “the future of Russia” – and a federal priority for the entire 21st century: in fact, a matter of national security. Investment growth in starting capital is already up by 20% - twice the Russian average; and each ruble of state funding is matched by 34 rubles of private investment. Key industries include energy, petrochemicals, mining, timber, logistics, aircraft/machinery/shipbuilding, agriculture and fisheries.

[thevibes1]

Exploring the Latest Malaysia News: Top Headlines and Updates

Malaysia continues to be a vibrant hub of activity with developments unfolding across various sectors. From political changes to economic forecasts, the country is always buzzing with newsworthy events. In this article, we will explore some of the latest happenings in Malaysia, delving into the key stories shaping the nation today.

Political Landscape: New Leadership and Policies

Malaysia's political scene remains dynamic, with ongoing debates and leadership changes that impact both domestic and international relations. Recent developments have seen new policy implementations aimed at enhancing governance and promoting transparency. The latest Malaysia news reports indicate a shift towards more inclusive policies, reflecting the diverse nature of its society.

The government is actively working on revising policies to boost economic recovery post-pandemic. This includes initiatives to attract foreign investments and foster innovation in sectors like technology, healthcare, and education. Malaysia is also ramping up efforts to address concerns over environmental sustainability, a hot topic in Malaysia today's news.

Economic Developments: A Focus on Recovery and Growth

The Malaysian economy is on a steady path to recovery, rebounding from the challenges posed by the global pandemic. According to the latest updates, economic growth is projected to stabilize, with key sectors such as manufacturing, services, and tourism playing significant roles.

Malaysia is witnessing an increase in foreign direct investments, especially in green energy and digital technologies. These sectors are expected to drive job creation and boost the overall economic outlook. Malaysia today's news highlights the government's emphasis on digital transformation, aimed at positioning the country as a leader in the ASEAN region for technology and innovation.

Social Trends: Embracing Digitalization

Digitalization continues to be a major trend in Malaysia, impacting everyday life, businesses, and governance. The shift to digital platforms for services ranging from education to healthcare has been a recurring theme in the latest Malaysia news.

With an increasing number of Malaysians adapting to digital tools, there is a noticeable change in consumer behavior and business practices. Online shopping, digital banking, and virtual communication platforms have become the norm, reflecting the broader trend of digitalization highlighted in Malaysia today's news.

 Health and Safety: Navigating the New Normal

Malaysia continues to adapt to the 'new normal' brought about by the COVID-19 pandemic. The latest Malaysia news shows a sustained focus on public health measures, vaccination drives, and safety protocols to ensure the well-being of its citizens.

The Ministry of Health has been proactive in providing updates on new variants and has rolled out booster programs to maintain high immunity levels within the population. Malaysia Najib News today's news also points to the government's efforts to ensure the healthcare system is equipped to handle future health crises.

Cultural and Environmental Initiatives

Malaysia is not just focusing on economic and political developments; there is also a significant emphasis on cultural and environmental conservation. Recent news highlights various initiatives aimed at preserving the country’s rich cultural heritage while promoting eco-friendly tourism.

Efforts to combat climate change are gaining traction, with the government and various NGOs launching campaigns to protect the environment. Malaysia today's news showcases several initiatives, such as mangrove restoration projects and promoting sustainable travel practices.

[businessindustry]

Steel Sheet Piling Market Trends | Report by Reports and Insights 2032

The Reports and Insights, a leading market research company, has recently releases report titled “Steel Sheet Piling Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2031.” The study provides a detailed analysis of the industry, including the global Steel Sheet Piling Market Forecast share, size, trends, and growth. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the Steel Sheet Piling Market?

The global steel sheet piling market size was US$ 2.8 Billion in 2022. Furthermore, the market is expected to register a revenue CAGR of 5.5% during the forecast period and reach a market size of US$ 4.5 Bn in 2031.

What are Steel Sheet Piling?

Steel sheet piling is a method used in construction for earth retention and excavation support. It entails driving thin, interlocking steel sheets into the ground to create a continuous wall that retains soil or water. This technique is commonly employed in constructing underground structures, preventing soil erosion along water bodies, and establishing temporary cofferdams for construction. Steel sheet piles are valued for their durability, strength, and ease of installation, making them a versatile choice for a range of civil engineering and construction projects.

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What are the growth prospects and trends in the Steel Sheet Piling industry?

The steel sheet piling market growth is driven by various factors. The global steel sheet piling market is experiencing a consistent upsurge due to ongoing infrastructure development and construction projects worldwide. These sheet piles are favored in civil engineering for their robustness, longevity, and economical nature. The market growth is propelled by urban expansion, population growth, and a growing demand for sustainable construction solutions. Moreover, advancements in manufacturing techniques are improving the quality and versatility of steel sheet piles, making them suitable for a wide range of applications such as retaining walls, flood protection, and harbor structures. Hence, all these factors contribute to steel sheet piling market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

By Product Type:

U-shaped Piles

Z-shaped Piles

Straight Web Piles

Material Type:

Hot-rolled Steel

Cold-formed Steel

Application:

Flood Protection

Shoreline Stabilization

Foundation Construction

Underground Structures

Bridge Abutments

End-Use Industry:

Construction

Energy (Renewable and Non-renewable)

Transportation

Mining

Others

Coating Type:

Corrosion-resistant Coatings

Painted Coatings

Untreated/Plain

Polymer Coatings

Segmentation By Region:

North America:

United States

Canada

Europe:

Germany

The U.K.

France

Spain

Italy

Russia

Poland

BENELUX

NORDIC

Rest of Europe

Asia Pacific:

China

Japan

India

South Korea

ASEAN

Australia & New Zealand

Rest of Asia Pacific

Latin America:

Brazil

Mexico

Argentina

Middle East & Africa:

Saudi Arabia

South Africa

United Arab Emirates

Israel

Who are the key players operating in the industry?

The report covers the major market players including:

ArcelorMittal

Nippon Steel Corporation

Thyssenkrupp AG

EVRAZ

Skyline Steel (Nucor Corporation)

Hammer & Steel

Meever & Meever Group

Gerdau

ESC Group

JFE Steel Corporation

Zekelman Industries

Emirates Steel

View Full Report: https://www.reportsandinsights.com/report/Steel Sheet Piling-market

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[rhk111sblog]

Here is a nice, long Article on the “Foreign Affairs” Website talking about how the United States (US) is losing Ground to China in most Countries in South East Asia (SEA) in Terms of Influence. I suggest everybody read it, you can find the Link below. In the meantime, here are some selected Excerpts from the Article itself:

“In the Poll this Year, the Majority of Respondents picked China over the United States when asked whom ASEAN should align with if forced to choose between the two. This was the first time Respondents picked China since the Survey began posing this question in 2020.”

“In its 2020 Survey—the first Year that the ISEAS-Yusof Ishak Institute asked Respondents “If ASEAN were forced to align itself with one of the Strategic Rivals, which should it choose?”—50.2 percent chose the United States, compared with 49.8 percent who chose China, when responses are adjusted (as they have been since the 2022 poll) to ensure that the responses of each Country are represented by equal proportion. In 2023, 61 percent of Respondents chose the United States compared with 39 percent who chose China, although the United States fared below the overall average in Brunei, Indonesia, Laos, Malaysia, and Thailand. In the 2024 Survey, however, China edged past the United States as the Region’s choice of alignment Partner: 50.5 percent of Respondents chose China, and 49.5 percent chose the United States.”

“Breaking down this Year’s result by Country shows that since the 2023 poll, the United States has lost the most ground to China among Respondents in Laos (a 30 percentage point decline), Malaysia (a 20 percentage point decline), Indonesia (a 20 percentage point decline), Cambodia (an 18 percentage point decline), and Brunei (a 15 percentage point decline). The United States has also lost ground in Myanmar and Thailand (10 and 9 percentage point declines, respectively).”

“Western Media Outlets often carry Reports about the Debt Traps associated with China’s Belt and Road Initiative. But BRI Projects are generally welcomed in Southeast Asia for the growth and development potential they offer the recipient Country. One high-ranking Diplomat from the Region pronounced it a Model for how to win “Hearts and Minds.” In January, I traveled to Laos, where the ASEAN Foreign Ministers’ Retreat was taking place in Luang Prabang, the Country’s Cultural and Spiritual Center. There were no Signs of competition for Influence between China and the United States; Chinese Influence alone pervaded People’s daily Lives. Residents of Luang Prabang spoke positively of the boost to local Businesses since April 2023, when a BRI-affiliated Railway running through the City and connecting Laos to China opened fully.”

Here is the Link to the Article on the “Foreign Affairs” Website: https://www.foreignaffairs.com/united-states/america-losing-southeast-asia

SOURCE: America Is Losing Southeast Asia {Archived Link}

[prajwal-agale001]

According to Meticulous Research®, the South East Asia galvanized steel market is anticipated to reach $25.9 billion by 2031, growing at a CAGR of 14.6% from 2023 to 2031. By volume, the market is projected to hit 27.6 million tons by 2031, with a CAGR of 13.8% during the same period. This growth is driven by increased infrastructure investments, heightened demand in the construction sector, and rising GDPs across the region. However, challenges such as volatile raw material prices, regulatory compliance issues, and a decline in Chinese steel purchases due to shifting international trade dynamics could hinder market expansion. Opportunities for growth are expected from technological advancements in steel manufacturing and the ASEAN economic community's development, though high manufacturing costs remain a significant challenge.

[industryinsightsandanalysis]

Limestone Market Size, Share, Growth & Forecast

The global Limestone market is expected to demonstrate the growth of ~4% during the forecast period (2021-2027). In developing countries like China, India, Brazil, and ASEAN countries, the growing population, increasing trend of urbanization in countries like India, government investment in improving the infrastructure sector are likely to boost the demand of limestone.

For a detailed analysis of the global Limestone Market browse through https://univdatos.com/report/limestone-market/

The demand of limestone depends mainly on the performance of vast range of industries including construction, metallurgy, and chemical and industrial, among others. However, construction and metallurgy industries are the major driving factor for the growth of limestone market. In construction industry, limestone is widely used in architectural applications for walls, decorative trim and veneer as it provides both aesthetic and strength in the project. Further, limestone and its associated products are widely used in the metal industry in the production of iron and steel. For instance, lime is used as a fluxing agent in electric arc furnaces and basic oxygen furnaces. Lime removes impurities (silica, phosphorus, sulfur) from the steel being manufactured. It is also used to enhance the refractory life of the furnace. Therefore, with increase in demand of steel, demand of limestone would also increase as large number of steel is produced using electric arc method. The global production of crude steel increased to 1,878 million tons in 2020 from 1,435 million tons in 2010, showcasing the compound annual growth of 2.7%.

For a detailed analysis of the market drivers browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=12308

In the light of COVID-19, governments across the globe had taken several strict measurements to curtail the spread of disease including lockdown which resulted in the halted construction activities in several nations and reduced production of chemicals and steel in the first half of 2020. This resulted in the less demand of raw materials used in the manufacturing of products. Since, limestone is a critical material in the construction and metallurgical industries, therefore with decline in the construction activities and production of metals, demand of limestone declined.

Based on application, the market is categorized into metallurgy, construction, agricultural, chemical and industrial, and others. Among these, construction category accounted for the prominent share in the limestone market. Growing population and increasing investment in infrastructure projects by the governments in developing economies is increasing the demand of limestone as it has myriad of applications in the construction industry. For instance, it is used as a loadbearing stone for masonry walls and columns, as a key component in concrete, as a cladding for buildings and for rain screeners, as a decorative element in residences. Further, it is also used as limewash, paving slab, lime mortar, and aggregate used in road bases.

Request for Sample of the report browse through https://univdatos.com/get-a-free-sample-form-php/?product_id=12308

For a better understanding of the market adoption of limestone, the market is analyzed based on its worldwide presence in the countries such as North America (United States, Canada, Rest of North America), Europe (Germany, UK, France, Spain, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World.  Asia-Pacific held the dominating position in the global Limestone market and is expected to showcase significant growth during the forecast period owing to large base construction and steel manufacturing industry in the region. Further, government investment in improving the infrastructure propelling the limestone market.

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UnivDatos Market Insights

Email - contact@univdatos.com

Contact Number - +1 9782263411

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[industrynewsupdates]

Industrial Coatings Market Trends, Size, Revenue And Top Key Players, 2030

The global industrial coatings market size was valued at USD 87.19 billion in 2022 and is expected to grow at a compound annual growth rate (CAGR) of 2.5% from 2023 to 2030. 

Industrial coatings are widely used in various other end-use sectors, including automotive and vehicle refinish, electronics, aerospace, oil & gas, mining, marine, and power generation. Automotive and refinish coatings are among the major industrial coatings. The growing usage of refinish coatings for automotive maintenance, repair, and aftermarket painting on account of visual appearance, surface protection, and corrosion resistance is expected to propel the demand for industrial coatings.

Gather more insights about the market drivers, restrains and growth of the Industrial Coatings Market 

Moreover, the growing need for customized designs and paints in vehicles is likely to support the market growth. The U.S. is a leading manufacturer of aerospace and related components and one of the major aerospace markets in the world. The availability of well-trained aerospace engineers, machinists & other skilled laborers, and increasing air commute are driving investments in the U.S. aerospace industry. The presence of prominent aircraft manufacturers, such as The Boeing Company, Gulfstream Aerospace, and Textron Aviation, Inc., is expected to significantly fuel the growth of the aerospace industry in the country.

This, in turn, is anticipated to create ample growth opportunities for the market during the forecast period. Increasing awareness about vehicle paint protection by healing damages and scratches on vehicle surfaces has boosted market growth. Moreover, expanding the consumer base in the Middle East and Asia Pacific regions on account of the rising disposable income is expected to boost the product demand in the automotive and other end-use industries during the forecast period. Increasing demand for industrial coatings from packaging applications, such as caps & closures, and cans, is also projected to positively influence market growth in the coming years.

Excellent CO2 retention properties to preserve freshness and high flexibility & adhesion of these coatings are boosting their demand in the packaging industry. Furthermore, increasing construction activities drive product demand in the wood industry. However, environmental and health hazards associated with Volatile Organic Compounds (VOCs) are majorly affecting the industry growth. Various environmental and safety regulations, such as The Occupational Safety and Health Administration (OSHA), The Environmental Protection Agency (EPA), and California Air Resource Board (CARB), are being implemented by governments globally to limit the harmful effects of these compounds on human health and the environment.

Industrial Coatings Market Segmentation

Grand View Research has segmented the global industrial coatings market report on the basis of product, technology, end-user, and region:

Product Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Acrylic

• Alkyd

• Polyurethane

• Epoxy

• Polyester

• Others

Technology Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• Solvent Borne

• Water Borne

• Powder Based

• Others

End-user Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• General Industrial

• Marine

• Automotive & Vehicle Refinish

• Electronics

• Aerospace

• Oil & Gas

• Mining

• Power Generation

• Others

Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

• North America

o U.S.

o Canada

o Mexico

• Europe

o Germany

o France

o U.K.

o Italy

• Asia Pacific

o China

o India

o Japan

o Australia

o South Korea

o ASEAN

• Central & South America

o Brazil

o Argentina

• Middle East & Africa

o Saudi Arabia

o UAE

Browse through Grand View Research's Paints, Coatings & Printing Inks Industry Research Reports.

• The global synthetic dyes market size was estimated at USD 6.35 billion in 2023 and is projected to reach at a CAGR of 6.8% from 2024 to 2030. 

• The global texture paints market size was estimated at USD 12,357.21 million in 2023 and is projected to grow at a CAGR of 4.5% from 2024 to 2030.

Key Companies & Market Share Insights

The industry is highly fragmented with the presence of several key as well as some small- and medium-scale global and regional players. The global players face intense competition from each other as well as from regional players who have well-established supply chain networks and are well aware of the regulations and suppliers in the market. Major players are involved in the expansion of their manufacturing facilities, R&D investments, mergers & acquisitions, and new product development to cater to the increasing global demand, ensure competitive effectiveness, enhance sales & operations planning, and expand their customer base. Some of the prominent players in the global industrial coatings market include:

• Akzo Nobel N.V.

• Axalta Coating Systems, LLC

• Jotun

• PPG Industries, Inc.

• The Sherwin-Williams Company

• Nippon Paint Holdings Co., Ltd.

• Hempel A/S

Order a free sample PDF of the Industrial Coatings Market Intelligence Study, published by Grand View Research. 

[blueweave]

 Philippines Data Center Market size by value at USD 659.1 million in 2023. During the forecast period between 2024 and 2030, BlueWeave expects Philippines Data Center Market size to expand at a CAGR of 14% reaching a value of USD 1,642.11 million by 2030. The Data Center Market in Philippines is propelled by the strategic emphasis on cloud technology, supportive regulatory landscape, and business-friendly environment. The conducive ecosystem has stimulated significant interest and investment in the sector. The industry is undergoing a green transformation, with a growing emphasis on renewable energy sources, exemplified by projects like SpaceDC's MNL1, which will be powered entirely by geothermal and wind energy. Government initiatives, including the establishment of free trade zones and the ambitious Power Development Plan aiming for a 50% renewable energy share by 2040, are further propelling the market's growth by creating a sustainable and conducive operating environment for data centers.

Opportunity – Data localization regulations

The recent push for data localization regulations in Southeast Asia, including the Philippines, presents a significant opportunity for the country’s data center market. As ASEAN member states tighten data sovereignty measures, such as mandatory local data storage, the demand for data centers is surging. The Philippines, in particular, is witnessing increased interest and investment in its data center infrastructure as businesses and international tech companies anticipate stricter data localization rules. These regulations, aimed at enhancing national security and digital sovereignty, are driving the growth of the data center market by compelling organizations to build or expand local data storage facilities. This shift not only supports the country’s digital infrastructure development but also aligns with its broader digital economy goals, offering a promising avenue for market expansion and technological advancement in the region.

Sample Request @ https://www.blueweaveconsulting.com/report/philippines-data-center-market/report-sample

[indoswisspower]

Raychem termination kits

What are the key points about Raychem termination kits?

With millions of installations worldwide, Raychem termination kits have proven more reliable and faster to install than conventional systems. Unswerving performance under exciting temperatures, air pollution, and UV light has long recognized the insulation and sealing abilities of Raychem terminations.

Termination kits are the core product range of Raychem cable accessories and are specifically designed for power system applications in the ASEAN region. It uses the same advanced technology and features as APKT terminations and is widely used, especially in India.

As most of our products are in stock, we are confident we can respond to your requirements quickly. We understand that your project needs may be urgent, and material delays can significantly impact your project.

Quality                                                                                                       

Indoswisspower has very strict quality control SOPs, so our products and services are always in the highest quality condition.

We have a wide range of high-quality products in our stock, providing a wide range of products and great value for money in one place.

Service

Our highly trained staff is always on hand to provide timely advice and unparalleled support. We work tirelessly to ensure we provide unrivalled service, helping our customers build and improve their businesses.

We are a one-stop shop for all your engineering and electronic product wants and provide services and solutions. From same-day delivery to sourcing solutions, we offer numerous convenient services that increase productivity and save time and money.

Technical Support Solutions

We have extensive knowledge of hazardous areas and industrial products. Therefore, we can provide solutions to choose the best product for you.

Our Resources

Our people support our business, and we are proud of a highly talented and diverse workforce worldwide focused on delivering excellent service to our customers and partners.

Our Mission

To provide superior products and engineering services to achieve complete customer satisfaction. To be our customers' most respected and desired provider of engineering products and services. To distribute projects on time and at the right cost using the maximum quality resources.

Conclusion

Indoswisspower has built a character as a reliable distributor of Raychem termination kits. We have evolved from a dealership to a trusted electronics retailer by serving our customers' needs for many years.

Furthermore, the key to our growth has been diversifying our business activities with a focus on this industry. The rapid growth achieved to date is a testament to Indoswisspower's high priority on product quality, customer service, and delivery. Please visit the site to learn more about our Raychem kits.

[apacbusinesstimes]

Green Growth: How Australian Businesses Are Making Sustainability a Priority

Working towards sustainability has become a critical imperative for companies globally, including in Australia. As we move into 2024, Australian businesses across various industries are taking significant actions to embed sustainability into their operations. Sustainability has become a key priority, driven by regulatory requirements, consumer expectations, and the urgent need to combat climate change. In this article, we will discuss what are the sustainability initiatives taken by different industries in Australia, along with the progress and innovative approaches in the journey towards a greener economy.

Energy Sector – Renewable Energy 

The energy sector stands ahead in implementing sustainability efforts in Australia. With a strong focus on reducing carbon emissions and combating climate change, energy companies are investing heavily in renewable energy sources such as solar, wind, and hydroelectric power. 

Companies like Sun Cable are developing large-scale solar farms, such as the Australia-ASEAN Power Link, which aims to export solar energy to Southeast Asia. The wind projects include AGL Energy and Origin Energy, which are investing in wind farms to harness wind power. Companies are exploring green hydrogen as a sustainable alternative to fossil fuels. Initiatives like the Hydrogen Energy Supply Chain project aim to produce and export hydrogen, positioning Australia as a leader in this emerging market.

Manufacturing Sector – Resource Efficiency

The manufacturing sector in Australia is adopting green technologies and processes to minimize environmental impact. Energy efficiency, waste reduction, and the circular economy are key focus areas.

Companies are focusing on implementing circular economy practices by designing products for longevity, recyclability, and repurposing. For example, companies in the electronics industry are developing take-back programs to recycle and reuse components from old devices. 

Programs like the Energy Efficiency Improvement Scheme (EEIS) are helping manufacturers reduce energy consumption. Upgrading machinery, optimizing production processes, and using energy-efficient lighting and HVAC systems are works undertaken towards sustainability. Along with this, they are also implementing zero-waste strategies, to reduce waste and reusing materials in the production process.

Retail Sector – Sustainable Consumerism

Retailers in Australia are responding to consumer demand for ethical and sustainable products by adopting various initiatives to promote responsible consumption and production. They are working on processes for eco-friendly products, waste reduction, and sustainable supply chains.

Retailers like Woolworths and Coles are expanding their eco-friendly and sustainably sourced product range. It is also actively working to reduce waste through recycling programs, composting, and initiatives to minimize single-use plastics. Retailers are also encouraging customers to bring reusable bags and containers. Hence, they are more focused on ensuring their supply chains are ethical and environmentally responsible, focusing on fair trade and reducing carbon footprint.

Financial Sector – Sustainable Investments

The financial sectors are promoting sustainability by directing capital towards environmentally and socially responsible investments. Australian financial institutions are increasingly integrating ESG (Environmental, Social, and Governance) criteria into their investment strategies.

Financial institutions are issuing green bonds to raise capital for projects with positive environmental impacts, such as renewable energy and sustainable infrastructure developments.  Investment firms are increasingly incorporating ESG criteria into their portfolios. Banks like NAB and ANZ are offering sustainable banking products, such as green loans and environmentally friendly investment options.

Transportation Sector – Clean Mobility

The transportation sector is a significant contributor to greenhouse gas emissions. To address this, Australia is investing in clean mobility solutions like electric vehicles (EVs), public transport, and sustainable aviation fuels.

To promote electric vehicles companies are installing charging infrastructure, and offering incentives to employees for using EVs. Public transportation systems are being upgraded to be more sustainable. Action like the introduction of electric buses, improvements in rail networks, and the development of cycling infrastructure to promote non-motorized transport. For sustainable aviation, airlines like Qantas are exploring the use of sustainable fuels to lower their carbon footprint.

Conclusion 

To conclude, sustainability is a critical focus for businesses across various sectors in Australia in 2024. From renewable energy projects and resource-efficient manufacturing to sustainable aviation and ethical consumerism, companies are implementing innovative approaches to drive positive environmental and social change. Hence understanding the need to protect our mother Earth, it is necessary for all of us to adopt sustainability practices in our daily activities. Visit Apac Business Times to discover more interesting business updates.

Visit More : https://apacbusinesstimes.com/green-growth-how-australian-businesses-are-making-sustainability-a-priority/