Author: OBG Admin

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Top speed: Infrastructure building continues as industry players anticipate 5G rollout and updated data regulations

Posted OBG AdminPosted in Uncategorized

  In keeping with its position as the largest economy in ASEAN, Indonesia is expected to eventually capture the largest share of rising consumer and enterprise revenues as a result of 5G deployment. A study by global management consulting firm Kearney suggests that the technology could lift consumer revenue across the region by 6-9% before 2025, and enterprise revenue by 18-22%, as operators spend an estimated $10bn on infrastructure investments. Indonesia is expected to be well placed to drive enterprise value as a result of

Sheikh Ahmad Duaij Jaber Al Sabah-Chairman-Commercial Bank of Kuwait

One click away: Tech-based travel agencies attract a widening middle class

Posted OBG AdminPosted in Uncategorized

  With an internet adoption rate of 64.8% as of 2018 and a widening middle class, online travel agencies (OTAs) have become increasingly popular in Indonesia in recent years. OTAs do not require the same level of infrastructure, staff and working capital as traditional travel agencies, and the convenience they provide to businesses and individuals alike has been key to their expansion. Local brands such as Traveloka, Pegipegi and Tiket.com continue to diversify their operations and products for a population increasingly drawn to technology for purchases. Traveloka purchased Pegipegi in December 2018, part of a $66.8m deal with Japan-based Recruit Holdings that also included Vietnam’s

Azeem Azimuddin-CFO and Advisor to Chairman-Aya Bank

Sustainable approach: Governments across the region are taking steps to protect popular destinations from overdevelopment and environmental damage

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  Tourism in the Asia-Pacific region has seen impressive growth in recent years, aided by cheaper air fares, an expanding consumer class and increased exposure brought about by improved internet connectivity. Although these developments have led to significant economic benefits for countries across the region, they have also had some negative consequences, particularly for the environment. Around 133.1m visitors travelled to the ASEAN region in 2019, up from 129.2m in 2018 and 125.7m in 2017. While this figure was expected to reach 155.4m by 2022,

George Richani-CEO-Al Ahli Bank of Kuwait

Supportive framework: The government and regulators are taking steps to develop the digital economy, with a focus on local tech start-ups

Posted OBG AdminPosted in Uncategorized

  Indonesia is the largest economy in South-east Asia, the world’s fourth-most-populous nation, the 10th-largest economy in terms of purchasing power parity and a member of the G20. PwC’s “World in 2050” report predicted that, by 2050, Indonesia will be the fourth-largest economy in the world. However, President Joko Widodo, commonly known as President Jokowi, believes that Indonesia could reach this position even earlier, by 2045. In the first five years of President Jokowi’s administration, from 2014 to 2019, one area that particularly prospered –

Roberto Garcia-Chairman and Administrator-Subic Bay Metropolitan Authority

Game-changer: A new trade deal lays the groundwork for acceleration of integration and intra-continental trade in Africa

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  Although trade flows among African states remain below their potential, an ambitious project is under way to accelerate economic integration and significantly expand intra-continental trade. Spearheaded by the African Union (AU), the African Continental Free Trade Area (AfCFTA) agreement was signed in March 2018 and aims to substantially reduce both tariff and non-tariff barriers to trade. As of December 2019 the AfCFTA had the backing of 54 out of the 55 member states of the AU. Major Deal The agreement stands to make the

Mohammed El Etreby-Chairman-Banque Misr

Strategic reorientation: How will the international Covid-19 outbreak impact projects associated with China’s Belt and Road Initiative?

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  The Belt and Road Initiative (BRI) is a far-reaching plan for transnational infrastructure development, linking five continents through land and sea corridors, and industrial clusters. Launched in 2013, it was initially planned to revive ancient trade routes between Eurasia and China, but the scope of the BRI has since extended to cover 138 countries, including 38 in sub-Saharan Africa, and 18 in Latin America and the Caribbean. Financing Needs Prior to the Covid-19 pandemic, the Asian Development Bank estimated that the infrastructure financing needs

Nhon Luc Ly-CEO-AIA Myanmar; Son Nguyen-Country President-Chubb Life Insurance Myanmar; Daw Zarchi Tin-CEO

Strengthening ties: In recent years the authorities have rebuilt traditional ties and established agreements with new partners

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  Since independence in 1960 Côte d’Ivoire’s foreign policy has been characterised by friendly relations with the West, particularly France, and participation in regional and international multilateral organisations. The country’s relations with its immediate neighbours have generally been good, with few of the border tensions that are notable in other West African countries. In recent years Côte d’Ivoire has also played its part in ensuring regional security, and combatting religious extremism and international criminal activities. Post-Independence President Felix Houphouë tBoigny’s long period of rule, from

Mohammed El Etreby-Chairman-Banque Misr

Step by step: Moves towards the launch of a new West African currency

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  Côte d’Ivoire’s high level of regional integration is evidenced in numerous ways: it is a net exporter of energy, has ratified free movement protocols of the regional economic blocs it belongs to – including ECOWAS and the Community of Sahel-Saharan States – and has played its part in successfully implementing convergence agendas set by the eight-country economic and monetary union UEMOA. The topic of enhanced monetary and economic convergence has been brought to the fore in recent years, with calls to rename and restructure the West African CFA franc accompanied by a renewed push from ECOWAS for stronger monetary ties and the establishment of

Peter Wong-Deputy Chairman and Chief Executive-HSBC

Technological solutions: The role of online learning platforms and digital health care services expands during the Covid-19 pandemic

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  Côte d’Ivoire is turning to technology to ensure the ongoing education of and health care provision to its citizens amid the Covid-19 pandemic. After recording its first confirmed case of the virus in March 2020, the country is looking towards innovative solutions as people are staying home to stop the spread of the virus. E-Learning On April 6, 2020 the Ministry of National Education, Technical Education and Vocational Training launched free online education courses, giving students access to learning materials via dedicated websites, as

Pham Hong Hai-CEO-HSBC Vietnam

Broader reach: Financial inclusion takes centre stage locally and across the region

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  The authorities in Côte d’Ivoire have prioritised the expansion of financial inclusion as a mechanism to spread economic growth across a wider share of the population. As of 2015 almost 46% of Ivorians lived on less than CFA750 ($1.29) per day, according to the World Bank. Policymakers have identified limited access to financing mechanisms, for individuals as well as for small and medium-sized enterprises (SMEs), as a key obstacle to the distribution of economic prosperity. Strategy Launch In an effort to improve access to financial services, in May 2019 the Ivorian authorities adopted the National Financial Inclusion Strategy 2019-24. Progress towards the roadmap’s aims