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Tag: national

  • Malaysia Vows to Slash Reliance on Foreign Food by Half by 2050 for Enhanced National Food Security

    Malaysia Vows to Slash Reliance on Foreign Food by Half by 2050 for Enhanced National Food Security

    Malaysia has outlined an ambitious plan to decrease its dependence on imported food by half by 2050 in an effort to bolster national food security. This objective arises as the nation grapples with an annual food import expenditure hitting around 80 billion MYR, or approximately US$20 billion, as per the statement of Ahmad Zahid Hamidi, Deputy Prime Minister and Minister of Rural and Regional Development, on July 4.

    Phased Implementation

    The strategy is set to be executed in stages, with intermediate milestones set at a 15% reduction by 2030 and just over 30% by 2040, before eventually realizing the ultimate aim by 2050. Hamidi stated that the strategy would focus on maximizing the use of underemployed and unused land owned by branches under the Ministry of Rural and Regional Development. This land would be transformed into agricultural and livestock production areas in order to increase domestic food production capacity.

    Hamidi further elaborated that the food security program has been active for the past three years and has already contributed to stabilizing prices, specifically through broiler chicken and egg production initiatives.

    Domestic Supply and Stable Prices

    Hamidi emphasized that the purpose of the plan is not to rival commercial producers. Instead, its primary focus is to guarantee an ample domestic supply and reduce price fluctuations. By increasing local production, Malaysia aims to obtain a more reliable and sustainable food source, reducing its vulnerability to global market changes and potential supply chain disruptions.

    Questions & Answers

    What is Malaysia’s goal with respect to imported food?
    Malaysia aims to cut its reliance on imported food by 50% by 2050 in order to enhance national food security.

    How does the country plan to achieve this objective?
    Malaysia plans to utilize underused and idle land owned by agencies under the Ministry of Rural and Regional Development, converting it into agricultural and livestock production zones.

    What is the purpose of this initiative?
    The goal is to ensure a sufficient domestic food supply and reduce price volatility, not to compete with commercial producers.

  • Birkenstock Dominates Chennai with Largest Indian In-Mall Store, Upping National Footprint to 63 Stores

    Birkenstock Dominates Chennai with Largest Indian In-Mall Store, Upping National Footprint to 63 Stores

    Birkenstock, the esteemed German footwear brand, has recently launched its most sizeable in-mall shop in India, situated in Chennai. This new addition brings the total count of Birkenstock locations in the country to 63, showcasing the brand’s steadfast expansion throughout India.

    A Steady Expansion in India

    Birkenstock’s journey in India began six years ago and since then, the brand has significantly broadened its footprint in the country. Despite continuing to operate its 1,600 sq. ft flagship store in Mumbai, the brand has now established its third outlet in Chennai, the capital of Tamil Nadu.

    According to Birkenstock, Chennai is a crucial market for the brand, boasting a burgeoning base of high-end consumers who have a profound appreciation for products that deliver quality and comfort.

    More Than Just Sandals

    The Chennai store displays an array of Birkenstock’s globally recognized products. Not only does it feature the brand’s emblematic sandal and clog styles, but it also offers contemporary closed-toe shoes, seasonal designs, accessories, and the fundamental care essentials range.

    Earlier this year, Birkenstock also inaugurated a flagship store in Osaka, Japan. The footwear giant has been vocal about its active strategy to expand its direct-to-consumer store presence on a global scale.

    Questions & Answers

    What is Birkenstock’s most recent expansion move in India?
    Birkenstock has opened its largest in-mall store in Chennai, India, taking its total store count in the nation to 63.

    What does the new Chennai store offer to its customers?
    The store features Birkenstock’s iconic sandal and clog styles, contemporary closed shoes, seasonal styles, accessories, and the brand’s care essentials range.

    What is Birkenstock’s global expansion strategy?
    Birkenstock is actively expanding its direct-to-consumer store footprint globally, as evidenced by its recent store openings in India and Japan.

  • Indonesia’s Gen Z Tackles Rising Unemployment and AI Influx: Is the National Internship Program the Solution?

    Indonesia’s Gen Z Tackles Rising Unemployment and AI Influx: Is the National Internship Program the Solution?

    Indonesia is currently experiencing a “demographic dividend” phase, characterized by a surge in the young population. However, this younger generation, primarily Generation Z (those born between 1997 and 2012), is wrestling with significant employment obstacles.

    Employment Challenges for Gen Z

    By 2023, nearly 10 million individuals from this generation were neither employed nor receiving an education or vocational training, according to data from Statistics Indonesia. This figure, consisting primarily of women, highlights the persistent problems of youth unemployment and skill deficits.

    Furthermore, these individuals must adapt to an increasingly competitive job market, exacerbated by the advent of Artificial Intelligence (AI). According to a report from the World Economic Forum, AI’s broader implementation in workplaces is projected to alter approximately 23% of all jobs.

    Indonesia’s Population and Economic Prospects

    Indonesia’s population, which is growing at an annual rate of about 1.11%, is expected to reach 284.4 million by 2025. During the “demographic dividend” decade from 2020 to 2030, Generation Z has become the largest demographic, comprising almost 28% of the total population, or roughly 75 million people.

    Despite this surge, the demographic dividend period offers not only potential opportunities but also significant challenges. If not properly harnessed, it could hinder the country’s economic growth and overall wellbeing.

    In early 2025, a hashtag translating to “Just Escape for Now” gained popularity among young Indonesians, symbolizing a collective urge to seek better opportunities overseas.

    National Internship Program

    To address these issues, the Indonesian government launched the National Internship program in 2025. The Ministry of Manpower reported that the program successfully achieved its target of enrolling 100,000 participants, primarily recent graduates, during its first year. The program is expected to continue in 2026 with an equivalent number of participants.

    Media Wahyudi Askar, the Director of Public Policy at the Centre of Economic and Law Studies, believes that the National Internship Program could expedite the shift towards improved access to formal employment opportunities.

    Questions & Answers

    What is the “demographic dividend” period in Indonesia?
    The “demographic dividend” period refers to the current decade (2020-2030) in Indonesia where Generation Z (those born between 1997 and 2012) has become the most significant population group.

    What are the major employment challenges faced by Generation Z in Indonesia?
    The primary issues include high rates of unemployment, a lack of necessary skills, and changes in the job market due to the implementation of Artificial Intelligence.

    What is the objective of the National Internship program initiated by the Indonesian government?
    The National Internship Program aims to address employment challenges faced by the younger generation by providing them with better access to formal employment. The program enrolled 100,000 participants in 2025, with a similar number expected to continue in 2026.

  • Vietnam Preps for Gold Trading Revolution: National Assembly Mandates Roadmap for Gold Exchange Amid Surging Prices

    Vietnam Preps for Gold Trading Revolution: National Assembly Mandates Roadmap for Gold Exchange Amid Surging Prices

    The National Assembly of Vietnam has directed the government to construct a strategic plan for establishing a gold trading exchange. This endeavor is in response to the escalating prices of gold and aims to control and regulate the bullion market.

    The Need for a Gold Exchange

    Lawmakers have been emphasizing the importance of such an exchange in order to guarantee transparency in gold trading. This concern arises from the current market situation where the gold price in Vietnam is approximately 15% more than the global rates.

    The State Bank of Vietnam’s Plan

    The State Bank of Vietnam has introduced a plan to instigate a gold trading platform in three successive phases. The first phase involves trading raw gold, followed by trading gold bars in the second phase. The final phase will encompass trading gold certificates and derivatives.

    Current Gold Market in Vietnam

    The Saigon Jewelry Company recently listed the price of gold slightly lower than the highest peak recorded on Dec.1, at VND154.7 million (US$5,873.31) per tael of 37.5 grams. Furthermore, the price of gold in Vietnam has increased by more than 80% since the start of the year.

    In an effort to liberalize the market, the government in October lifted its monopoly on gold production. Private firms meeting specific financial criteria are now allowed to produce bullion.

    Questions & Answers

    What is the new directive given by The National Assembly of Vietnam?
    The National Assembly has directed the government to establish a gold trading exchange to control the bullion market and ensure transparency amid rising gold prices.

    What is the plan of the State Bank of Vietnam regarding the gold trading platform?
    The State Bank of Vietnam intends to set up a gold trading platform in three phases. These include trading raw gold initially, followed by gold bars, and finally gold certificates and derivatives.

    What changes have occurred in the gold market in Vietnam recently?
    Two significant changes have taken place. First, gold prices have risen by more than 80% since the start of the year. Second, the government has lifted its monopoly on gold production, now allowing private firms, that meet certain financial conditions, to produce bullion.

  • Coopers Brewery Defies Downturn: Annual Beer Sales Soar Despite National Decline

    Coopers Brewery Defies Downturn: Annual Beer Sales Soar Despite National Decline

    Coopers Brewery, a family-owned independent brewing company, has experienced a slight rise in its annual beer sales, outperforming the overall market that has seen a downturn.

    Annual Sales Report

    In the 2024-25 fiscal year, Coopers Brewery reported total beer sales of 80.6 million litres, marking a growth of 2.4% compared to the preceding year. This contrasts the 0.9% contraction witnessed within the national beer market during the same period.

    Growth in Keg and Packaged Beer Sales

    Sales of kegs, which account for approximately 12.4% of Coopers’ total beer sales, saw a substantial increase of 5.9%. Additionally, the sales of packaged beers also saw a modest uptick of 1.8%.

    Product-Specific Sales Performance

    Sales of malted barley and wheat saw an increase of 3.4%. However, there was a 17% drop in DIY brewing product volumes, a result of reduced consumer demand and restricted space on supermarket shelves.

    Statement from the Managing Director

    Michael Shearer, the Managing Director of the brewery, noted that the figures indicate a resilient performance throughout their beer portfolio. He highlighted considerable consumer demand for Dry 3.5 and Australian Lager, both relative newcomers to their range. Traditional ale products also continued their growth trajectory at 1.2%, while Stout saw a resurgence with a 3.3% rise compared to the previous year.

    Shearer admitted that cost-of-living pressures have made consumers more selective in their purchasing decisions. However, he was optimistic about achieving another year of solid sales growth in a challenging market, expressing it as a testament to the team and their craft.

    Regional Growth and Profit

    Over the course of the year, the company saw sales growth across all states and territories. SA emerged as the largest market in terms of sales volume, while Queensland experienced the most substantial growth at 4.8%.

    International beer exports, excluding New Zealand, which make up around 1% of total sales, fell by 22.3%. Conversely, sales to New Zealand grew by 2.6%.

    In terms of profitability, Coopers Brewery witnessed a decrease in pre-tax profits, which fell from $32.8 million in the previous year to $22.5 million. This shift reflects the investment in a new $70 million visitor center and its associated costs.

    The Visitor Center

    The company described the visitor centre as a generational investment and an integral part of its long-term strategy. In addition to housing a restaurant, the facility also includes a microbrewery and a whisky distillery. Since its inauguration in August of the previous year, the centre has welcomed approximately 60,000 visitors.

    Questions & Answers

    What contributed to the decrease in Coopers Brewery’s pre-tax profits?
    The pre-tax profit decrease reflected the brewery’s investment in a new $70 million visitor centre and its associated costs.

    What sales growth was seen across different product ranges at Coopers Brewery?
    Keg sales rose by 5.9% and packaged beer sales increased by 1.8%. Malted barley and wheat sales grew by 3.4%, but DIY brewing product volumes fell by 17%.

    Which areas experienced the most growth in terms of beer sales for Coopers Brewery?
    In terms of sales volume, SA was the largest market. However, Queensland recorded the highest growth rate at 4.8%.

  • South Korean Fast-food Chain Lotteria Targets Malaysian Market In Strategic Expansion

    South Korean Fast-food Chain Lotteria Targets Malaysian Market In Strategic Expansion

    The South Korean quick-service restaurant chain, Lotteria, is set to enter the Malaysian market by the end of the current year. This move is a result of a strategic alliance with the local firm, Serai Group.

    Exclusive Partnership with Serai Group

    As part of the collaboration, Serai Group has secured exclusive privileges to establish and manage Lotteria stores throughout Malaysia. Furthermore, it is authorized to sub-franchise the brand to other parties.

    Lotteria’s Expansion Strategy

    The venture in Malaysia is a component of Lotteria’s extensive growth strategy in Southeast Asia. This initiative is spearheaded by its parent organization, Lotte GRS Co., which is a branch of the South Korean conglomerate, Lotte Group.

    Lotte GRS has an ambitious plan to open an additional 30 Lotteria outlets throughout Malaysia in the next half-decade.

    Past Ventures and Future Prospects

    The decision to expand in Malaysia was made after Lotte GRS’s leadership, including CEO Cha Woo-cheol, conducted feasibility assessments in the region, and in Singapore, earlier in 2023. The company was exploring master franchise possibilities in these areas, indicating a strong desire to grow beyond Lotteria’s existing international markets, which include Vietnam, Myanmar, Laos, and Mongolia.

    A significant international market for Lotteria has been Vietnam, where the chain has been active since 1998. As per the 2024 financial report of Lotte Group, there are currently 253 Lotteria outlets operating across Vietnam.

    In tandem with its growth in Southeast Asia, Lotte GRS is also gearing up to open its inaugural US outlet in Orange County, California, in the middle of August.

    Questions & Answers

    What are Lotteria’s expansion plans in Malaysia?
    Lotteria plans to establish an additional 30 outlets throughout Malaysia in the next five years.

    What is the role of Serai Group in Lotteria’s expansion into Malaysia?
    Serai Group has secured exclusive rights to open and manage Lotteria stores across Malaysia, and it also has the authority to sub-franchise the brand to other parties.

    What are some of Lotteria’s established overseas markets?
    Lotteria has a strong presence in several international markets, including Vietnam, Myanmar, Laos, and Mongolia.

  • Nearly 70 Percent of Singaporeans Registered to National E-Payment System

    Nearly 70 Percent of Singaporeans Registered to National E-Payment System

    Singapore’s national e-payment system, «PayNow», currently boasts a nearly 70 percent penetration of the city-state’s population with monthly volumes exceeding S$1 billion, an MAS board member recently shared with parliament.

    Ong Ye Kung, minister of education and Monetary Authority of Singapore board member noted that take-up was «encouraging» with more than 65 percent of Singaporeans aged between 20 to 75 years old having already registered, representing 2.8 million accounts.

    Transaction volumes have also increased significantly. Two years ago, PayNow registered 150,000 transactions totaling S$24 million ($17 million) and in July this year, the figures rose to over 5 million and S$1 billion ($720 million), respectively.

    Despite PayNow’s success, Ong noted that Singapore made a conscious decision to keep the playing field open for all.

    «We made a deliberate decision not to have one player dominate the landscape and grow up very quickly,» he said, citing other channels like Apple or Google Pay.

    «Instead, we put in place the backbone infrastructure so that multiple providers can compete and innovate to increase consumer choice while encouraging interoperability. As a result, Singaporeans can now make e-payments in multiple ways which are simple, swift and secure.»

    Although corporate adoption has lagged its retail counterpart, Ong remains optimistic. Its corporate business currently serves entities representing half of the total unique entity number (UEN) issued in Singapore, an ID number required to interact with government agencies. It has 20 percent penetration rate of retail acceptance across hawker centers, supermarkets, healthcare and various F&B businesses.

    As a result, the ratio of cash and cheque’s relative usage to e-payments have decreased significantly. Cheques have fallen 8 percent per year over the past three years while the cash ratio dropped from 53 percent to 33 percent in the same period.

    When asked about pushing greater usage from banks, Ong agreed that the MAS should encourage the sector to promote PayNow corporates while also charging for cheques.

    «And I think having this carrot-and-stick, push-and-pull approach will continue to see higher take-up of pay now corporate,» he said.

  • Vietnam to top 7 pct growth in 2018 and 2019

    Vietnam to top 7 pct growth in 2018 and 2019

    Vietnam may grow more than 7 percent in 2018, the highest in 10 years, and is likely to maintain the rate next year, experts say. Nguyen Xuan Thanh, director of development, and public policy lecturer at the Fulbright University of Vietnam, said the country’s economy is expected to grow at over 7 percent this year, the highest level since 2007.

    “The major contributor of growth comes from industries that benefit from policies to replace import goods, such as automobile and pharmaceutical production,” he said at a conference organized Thursday by the National Financial Supervisory Commission (NFSC).

    In 2017, Vietnam rode on 20-30 percent growth of phones and electronics, but this year, that sector’s growth slowed down to only 11 percent in the first 11 months of 2018, Thanh explained.

    He also noted that a positive aspect of the growth this year has been that it is no longer dependent on credit. The NFSC estimates credit growth to have slowed significantly to 15 percent this year from 18 percent in 2017.

    “Many experts were concerned that Vietnam’s high growth rate in previous years was linked to credit growth, but there has been strong economic growth this year without high credit growth,” Thanh said.

    Meanwhile, NFSC leaders said Vietnam’s growth may exceed 7 percent in 2018 and remain at between 6.9-7.1 percent in 2019.

    Truong Van Phuoc, acting chairman of the NFSC, said the high growth in 2018 is due to large contributions from the private sector. In addition, trade agreements such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the EU-Vietnam Free Trade Agreement (EVFTA), which are expected to come into effect in 2019, may also bring positive impacts.

    Vietnam also has the opportunity to attract investment as well as new opportunities from the field of information technology and biotechnology, he added.

    But experts also point out some factors that could affect economic growth next year. Thanh noted that growth this year was not only due to investment and export but also the heavy consumption.

    Any changes to consumption can have immediate effect on economic growth, he said.

    In the first nine months this year, Vietnam’s GDP grew by 6.98 percent, the highest nine-month growth rate since 2011. The economy grew by 6.81 percent last year, the highest rate in a decade.