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'title' => 'Germany: A cultural wonderland ',
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'description' => 'For tourists who prefer a safe, developed and vibrant destination, Germany happens to be a popular choice. Ranked No. 1 in the Nation Brand Index for six straight years, Germany has attracted an average of 12 million tourists in the last few years, 11th in the world in terms of absolute numbers. ',
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'content' => '<p>For tourists who prefer a safe, developed and vibrant destination, Germany happens to be a popular choice. Ranked No. 1 in the Nation Brand Index for six straight years, Germany has attracted an average of 12 million tourists in the last few years, 11th in the world in terms of absolute numbers.</p>
<p>More than beautiful scenery, world-class infrastructure and centuries-old breweries, Germany hosts more than 10,000 different cultural festivals that reflect its rich heritage and history, and offer an unforgettable experience to participants, both local and international.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R4/EDC-NL-R4-WK-1-GERMANY-Festivals.jpg" alt="" />
<figcaption class="image-caption">Berlin, Munich, Hamburg, and Cologne attract most of foreign tourists than traditional holiday spots like the Bavarian Alps, Black Forest, and the Baltic Sea resorts because those cities host the country's liveliest and most vibrant festivals.</figcaption>
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<p>According to a survey by WorldData, Berlin, Munich, Hamburg, and Cologne attract most of foreign tourists than traditional holiday spots like the Bavarian Alps, Black Forest, and the Baltic Sea resorts, most likely because those cities host the country’s liveliest and most vibrant festivals.</p>
<p><strong>Reeperbahn Festival in Hamburg</strong><strong> </strong></p>
<p>With more than 600 concerts taking place across 90 locations in and around the Reeperbahn, the street festival is one of the largest and most diverse in the world.</p>
<p>Not even one kilometer in length, the Reeperbahn is rich in contrast, bright, shrill, vibrant and down-to-earth. That is how Hamburg Tourismus describes the festival on its official website.</p>
<p>More than just a music festival, it also serves as a global platform for international talent.</p>
<p>Alongside concerts, organizers mount conferences and networking events that focus on topics such as sustainability, technology and marketing in the music industry.</p>
<p><strong>Karneval in Cologne</strong></p>
<p>When the clock strikes 11:11 a.m. on the 11th day of November, Cologne kicks off the <em>Karneval</em> with cheers of “<em>Kölle Alaaf!</em>” (Cologne, above all!). The history of this carnival is as old as the city itself and has been celebrated every year since the early 1800s.</p>
<p>With day-long parades that attract more than 1 million spectators, Karneval is not just a fun party held ahead of the Advent and Christmas season, the event has much economic value, generating around $630 million for the city of Cologne.</p>
<p><strong>Berlin International Film Festival</strong></p>
<p>The Berlinale attracts the elite in filmmaking from 132 countries around the world and attracts an audience of several hundreds of thousands. On its 72nd year, the first post-pandemic Berlinale in 2022, reported an attendance of 156,472 film buffs.</p>
<p>As one of the world’s most prestigious film festivals, the event also offers talent development opportunities through its program, Berlinale Talents. This budding, yet lesser-known, initiative provides discipline-specific workshops, public talks and networking opportunities to cinephiles and film professionals alike. As of 2022, its alumni reached 9,000 with many establishing their own initiatives in different parts of the world.</p>
<p><strong>Oktoberfest in Munich</strong></p>
<p>Over the years, Oktoberfest, ironically held in September, has become synonymous with the identity of Munich. What started as a simple marriage celebration between German royalty in the early 1800s, has now become a three-week-long festivity that attracts around 7 million people from all over the world, making it the world’s largest beer festival.</p>
<p>While celebrating German heritage and history, Oktoberfest provides a significant boost to the city and country’s aviation, food, hotel and transport sectors. The event has become an industry in itself and is valued at more than $1 billion.</p>',
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'title' => 'Can AI be trusted in logistics? Expedock CEOÂ answers.',
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'description' => 'In the shipping and logistics industries, where more than 80% of supply chain disruptions are caused by human error, AI can save businesses millions of dollars in billable work.
Enter, Expedock.',
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'content' => '<p>Artificial intelligence (AI) is a powerful tool that simplifies complex systems and reduces human errors across various sectors. In the shipping and logistics industries, where more than 80% of supply chain disruptions are caused by human error, AI can save businesses millions of dollars in billable work.</p>
<p>Enter, Expedock.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/FA-WK12-PH-Expedock.jpg" alt="" />
<figcaption class="image-caption">Expedock CEO King Alandy Dy</figcaption>
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<p>In an exclusive interview with GMI POST, <strong>Expedock CEO King Alandy Dy</strong> shared how the four-year-old company is driving the growth of logistics businesses worldwide through AI-powered automation services.</p>
<p>“Expedock is the data infrastructure of global trade. Our solutions provide freight forwarders with accurate data and allow them to automate their workflows, so their staff can focus on higher-value tasks and unlock impactful growth opportunities,” said Alandy Dy.</p>
<p>According to the 26-year-old CEO, who was named one of Forbes 30 Under 30 Class of 2023, Expedock is the only automation solution provider that ensures 99.97% accuracy and 100% automation coverage.</p>
<p>“What makes Expedock unique is that we are built specifically for this industry. There’s no other solution out there in the space that’s built for supply chain businesses by former supply chain business owners,” said the Expedock CEO. </p>
<p>According to Alandy Dy, the fact that Expedock’s leadership team is composed of former freight forwarding branch owners and import/export managers allows them to give expert advice to their growing number of clients.</p>
<p>“In the past year alone, two of the three largest carriers in the world have signed up with us and are quickly expanding. Five New York Stock Exchange-listed companies also signed up with us this year,” said Alandy Dy, adding that the growth of Expedock since its inception in 2019, its ‘worst’ year-on-year performance, was “2x” (two times).</p>
<p>Alandy Dy also highlighted Expedock’s globally recognized list of investors as another factor behind the company’s rapid growth.</p>
<p>“We recently raised $13.15 million from a round led by Insight Partners, whose portfolio of companies includes Twitter, Shopify, and DocuSign, among others. That brings our total amount raised to around $17.5 and $18 million,” he said.</p>
<p>The Expedock CEO said while the company’s growth has been tremendous, there is more to be done. He wants to forge more partnerships and transform more supply chain businesses into more strategic, profitable, and efficient organizations through AI and automation.</p>
<p>Download Expedock's free eBook "2023 Automation Trends in Freight Forwarding" here: <a href="https://gmipost-expedock.systeme.io/signup" target="_blank" rel="noopener"><strong><em>https://gmipost-expedock.systeme.io/signup</em></strong></a></p>',
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'section_summary' => 'In the shipping and logistics industries, where more than 80% of supply chain disruptions are caused by human error, AI can save businesses millions of dollars in billable work.
Enter, Expedock.',
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'id' => '545550',
'title' => 'The rise of green logistics: What is it and how does it affect consumers?',
'description_old' => null,
'description' => 'As electric vehicles (EVs) become more prevalent in the logistics industry worldwide, Portland-based market research firm Allied Market Research (AMR) predicts that the global 'Green Logistics Market' will hit $2.9 trillion by 2032 at a compound annual growth rate (CAGR) of 8.3%.',
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'image' => null,
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'url' => 'the-rise-of-green-logistics-what-is-it-and-how-does-it-affect-consumers',
'tags' => 'US, Oregon, Logistics, Sustainability',
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'content' => '<p>As electric vehicles (EVs) become more prevalent in the logistics industry worldwide, Portland-based market research firm <strong>Allied Market Research (AMR) </strong>predicts that the global ‘Green Logistics Market’ will hit $2.9 trillion by 2032 at a compound annual growth rate (CAGR) of 8.3%.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/FA-WK12-PACNOR-Green-Logistics.jpg" alt="" />
<figcaption class="image-caption">Hermann Services Chairman and CEO Jeffrey Hermann</figcaption>
</figure>
<p>Sustainable or green logistics is defined as any practice that minimizes the environmental impact of logistics and delivery networks, and has become a “growing imperative” in business.</p>
<p>According to its July 2023 report, 57% of consumers are willing to change their ecommerce purchasing habits to help reduce their environmental impact. From this finding, AMR concludes that companies are rapidly adjusting their supply chains and logistics systems to meet these new and higher sustainability expectations.</p>
<p>The same study also details the green logistics industry’s four primary drivers of growth: (1) increased corporate social responsibility (CSR) activities by logistic companies, (2) the growing accessibility of EVs in the logistics industry, (3) the rise in government incentives stemming from environmental regulations and legislation, and (4) increase in adoption of artificial intelligence (AI) in the global logistics industry.</p>
<p><strong>Jeffrey Hermann, </strong>Chairman and CEO of the New Jersey-based logistics company <strong>Hermann Services</strong>, weighs in on the numerous benefits of sustainable and green logistics within the report.</p>
<p>“First and foremost, these practices are essential for protecting the environment and reducing the impact of logistics operations on the planet. In addition, they can also lead to cost savings for companies by reducing energy consumption, minimizing waste, and optimizing transport routes. Furthermore, sustainable practices can also improve brand reputation and customer loyalty, as consumers are increasingly looking for products that are environmentally friendly,” said Hermann.</p>
<p>If AMR’s prediction of the future of the global supply chain industry is accurate, then logistics companies should start investing in robust, AI-powered solutions and green strategies today to keep their competitive edge.</p>',
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'id' => '545551',
'title' => 'The world wants fresh fish. Korea's shipping industry delivers',
'description_old' => null,
'description' => 'South Korea's fishery industry, the 12th largest in the world production-wise, has maximized its profitability thanks to the government's grassroots support and export-focused policies, which is boosted further by the size and efficiency of its shipping industry.',
'credit_id' => '48',
'image' => null,
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'url' => 'the-world-wants-fresh-fish-koreas-shipping-industry-delivers',
'tags' => 'South Korea, US, Fishing, Logistics',
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'content' => '<p>With total production rising 2.9 percent to 3.82 million metric tons from 2020 to 2021, according to data from the Foreign Agricultural Service of the U.S. Department of Agriculture, South Korea’s fishery industry, the 12th largest in the world production-wise, has maximized its profitability thanks to the government’s grassroots support and export-focused policies, which is boosted further by the size and efficiency of its shipping industry.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/FA-WK12-SOKOR-Fishing-Ministry.jpg" alt="" />
<figcaption class="image-caption">South Korea's Minister of Oceans and Fisheries Minister Seung-Hwan Cho</figcaption>
</figure>
<p>With one of the world's largest merchant fleets, South Korea accounts for around 10% of global maritime trade, according to Logistics Asia. Through Busan, the fifth-busiest port in the world, the country exports seafood across all continents.</p>
<p>“Since taking office as <strong>Minister of Oceans and Fisheries</strong> in May, I have worked hard to expand exports in the marine and fisheries sectors. As a result, Korea achieved record-breaking exports in both shipping and seafood last year. Additionally, we focused on improving living conditions and residential environments in both the coastal and island regions, which were often overlooked in previous policy initiatives,” said <strong>Minister Seung-Hwan Cho.</strong></p>
<p>With an extensive coastline and a deeply rooted fishing tradition, the country harvests a wide array of marine delicacies. Because of their freshness and quality, South Korean seafood has become an important export product that has found its way to dining tables and restaurants across the globe, including the United States.</p>
<p>South Korea and the United States cooperate closely in a wide range of activities, like fisheries as well as research and development. The partnership in the maritime industry has boosted seafood exports and improved the delivery of goods and services between the two countries.</p>
<p>“The United States is a steadfast ally and long-time friend of Korea, and we continue to build on those close ties in various areas that include national defense, diplomacy, and industry. Among these, shipping and logistics stand out as critical aspects of infrastructure that support bilateral trade and cooperation between the two nations,” Cho said.</p>
<p>“The ministry has also been strengthening cooperation with the U.S. across a diverse range of areas, including decarbonization, digitalization, automation, and investments for port infrastructure in the maritime sector,” the minister added.</p>',
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'id' => '545546',
'title' => 'How ModernTec is pioneering electric mobility in Korea and beyond',
'description_old' => null,
'description' => 'In the fast-evolving electric vehicle sector, ModernTec Corp. Ltd. has nurtured a strong reputation as an innovator. In a span of just over 10 years, the South Korean company has gone from makers of EV chargers to EV makers.
So, how did ModernTec come to dominate South Korea's $267-million EV market?',
'credit_id' => '48',
'image' => null,
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'url' => 'how-moderntec-is-pioneering-electric-mobility-in-korea-and-beyond',
'tags' => 'South Korea, Electric Vehicles, E-buses',
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'content' => '<p>In the fast-evolving electric vehicle sector, ModernTec Corp. Ltd. has nurtured a strong reputation as an innovator. In a span of just over 10 years, the South Korean company has gone from makers of EV chargers to EV makers.<img src="https://www.gmipost.com/img/uploads/FA-WK11-SOKOR-ModernTec.jpg" alt="" /></p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/FA-WK11-SOKOR-ModernTec.jpg" alt="" />
<figcaption class="image-caption">ModernTec has become a leader in South Korea's electric vehicle market in just over 10 years.</figcaption>
</figure>
<p>As of 2022, more than 1,220 electronic buses were playing the roads of South Korea, where 80% of EV buses were made by ModernTec, the country’s largest manufacturer of EVs in the country.</p>
<p>So, how did ModernTec come to dominate South Korea’s $267-million EV market?</p>
<p><strong>The power of know-how</strong></p>
<p>The company's founders were visionaries, having recognized the potential of electric mobility long before it became a global trend. Their expertise in battery technology, vehicle design, and electric propulsion systems positioned them as frontrunners in the race to electrify transportation.</p>
<p>ModernTec's dedication to research and development also paid off handsomely. Their EV buses are renowned for their efficiency, reliability, and eco-friendliness.</p>
<p>“We had a big tie-up with the Korean government in 2017 to provide the EV chargers for the public transportation systems. In 2022, we launched some beautiful models of robots, which will charge EVs directly. Now, we have five international patents and 15 domestic patents related to EV technology,” said <strong>ModernTec CEO Seong-Doo Kim</strong>.</p>
<p><strong>The open sharing of knowledge </strong></p>
<p>ModernTec has also stood out for its commitment to sharing knowledge with the global market, partly in recognition of the urgent need to combat climate change and promote sustainable transportation. This openness has yielded partnerships with companies and governments around the globe. By exporting its technology and expertise, the company has accelerated the adoption of EVs in various countries across Europe and Asia.</p>
<p>“The reasons behind our success is because of a few factors, firstly our know-how of the technology. We know it deeply. Secondly, we understand the technology from the customer's point of view. We don't make the things that we can make. We make the things that our customer needs,” said <strong>R&D Department Global Coordinator and Deputy Dr. Harsh Tiwari</strong>.</p>
<p>As the world strives to build a more sustainable future, ModernTec stands out as one of the leaders who can teach other players how to help create a greener, cleaner, and more electrified world for future generations.</p>',
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So, how did ModernTec come to dominate South Korea's $267-million EV market?',
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'id' => '545547',
'title' => 'Japanese knives as modern, cutting-edge art',
'description_old' => null,
'description' => 'Deeply rooted in centuries-old traditional techniques, Seisuke knives are hand-made in limited quantities by craftsmen. Seisuke CEO and Founder Atsuhiro "Hiro" Nakamura says appreciation and love for Japanese knives have grown in recent years thanks to technology and social media.',
'credit_id' => '48',
'image' => null,
'image_caption' => null,
'url' => 'japanese-knives-as-modern-cutting-edge-art',
'tags' => 'US, Oregon, Knives, Kitchen Equipment',
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'content' => '<p>Leave it to a skilled chef to transform a dull chore into a sensory delight. Over many decades, cooking shows have grown in popularity around the world, with many chefs having gained celebrity status and many more restaurants becoming sites of a different sort of pilgrimage.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/FA-WK11-PACNOR-Seisuke-Knives.jpg" alt="" />
<figcaption class="image-caption">Product placement in popular TV shows has resulted in higher sales for Seisuke knives.</figcaption>
</figure>
<p>This growing interest has given birth to a new breed of home cooks, those who aspire to create restaurant-quality dishes with the same tools used by their culinary idols. They no longer buy just any sort of equipment. Chef knives, for instance, are now scrutinized for their material, design and feel.</p>
<p>To further prove how technology can help foster an appreciation for authentic, handcrafted Japanese kitchen knives, <strong>Seisuke Knife Portland Store Manager Will West</strong> said product exposure in a popular TV show led to an increase in sales.</p>
<p>“Last year, we were lucky enough to work with the producers of the FX show, The Bear. We sent them quite a few knives, which were used in the second season of the show. The one particularly used by Syd (one of the main characters) has been very popular and for the past months is out of stock,” West said.</p>
<p>Deeply rooted in centuries-old traditional techniques, <strong>Seisuke</strong> knives are hand-made in limited quantities by craftsmen using mostly Damascus steel, valued for its durability and lightness. The material also allows Seisuke’s artisans to come up with razor-sharp blades and put creative designs on the sides of the blade.</p>
<p>“Don’t be afraid of something that looks like an art piece because it’s also meant to be used. But do use them with caution and make sure that you are treating the knife with respect so that it will also treat you with respect,” West said.</p>
<p>To spread its message about these unlikely art pieces, Seisuke Knife Portland organizes live knife-forging demonstrations in the city and in San Francisco, California every September. </p>',
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'id' => '545548',
'title' => 'Design innovation boosts semiconductor industry in the Philippines',
'description_old' => null,
'description' => 'Capturing 10% of the global manufacturing supply, the Philippine semiconductor industry has grown to become a valuable contributor to economic growth for over 40 years, driven by innovation in integrated circuit design. ',
'credit_id' => '48',
'image' => null,
'image_caption' => null,
'url' => 'design-innovation-boosts-semiconductor-industry-in-the-philippines',
'tags' => 'Philippines, Economy, Semiconductors, Integrated Circuits, Microelectronics',
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'content' => '<p>Capturing 10% of the global manufacturing supply, the Philippine semiconductor industry has grown to become a valuable contributor to economic growth for over 40 years, driven by innovation in integrated circuit design.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/FA-WK11-PH-XiNYX.jpg" alt="" />
<figcaption class="image-caption">XiNYX Design General Manager Charade Avondo</figcaption>
</figure>
<p>With revenue expected to reach a compounded annual growth rate (CAGR) of 11.50% between 2023 and 2027, the Philippine IC market appears to have a promising trajectory.</p>
<p>At the forefront of this design innovation are homegrown engineers from hundreds of Philippine companies like <strong>XiNYX Design</strong>, which works closely with semiconductor and technological giants around the world. Backed by more than 600 years of combined experience, XiNYX Design has built a vast client base spread across Asia, North America and Europe.</p>
<p>“We provide our clients with our capabilities and we pride ourselves in working with the latest technologies out there to provide diversified design services,” said <strong>XiNYX Design General Manager Charade Avondo</strong> told GMI POST.</p>
<p>The company attributes its robust growth to the collaborative process from conceptualization to implementation. It works closely with clients to first understand their technical needs, before it checks and verifies the functionality of the working design and finally implements the layout of the IC chip.</p>
<p>As each step is executed remotely, XiNYX Design has nurtured long-standing partnerships in major markets, including the United States.</p>
<p>“For the American semiconductors industry, one of the key drivers is innovation. It wants to push the needle as far as possible to get compact processes. This enables us to get more advanced technologies that we can leverage to diversify our services even further. This is fundamental to our success,” Avondo said.</p>
<p>The value of Philippine IC exports to the United States is projected to reach $8.27 billion by 2027.</p>
<p>To secure its position as a major player in the local industry, XiNYX will continue investing in its Filipino engineers, equipping them with more capabilities to work with the latest transformative technologies. XiNYX wants to become the first Filipino intellectual property (IP) holder in the semiconductor and microelectronics space.</p>',
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'id' => '545543',
'title' => 'How does the Philippines promote inclusive economic growth?',
'description_old' => null,
'description' => 'One of the most dynamic economies in Southeast Asia, the Philippine economy grew at a pace of 7.6% last year, the fastest rate of economic growth recorded since 1976, according to data from S&P Global Market Intelligence. GMI POST spoke with the National Development Company to learn how it serves as a driver for inclusive growth.',
'credit_id' => '48',
'image' => null,
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'url' => 'how-does-the-philippines-promote-inclusive-economic-growth',
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'content' => '<p>One of the most dynamic economies in Southeast Asia, the Philippine economy grew at a pace of 7.6% last year, the fastest rate of economic growth recorded since 1976, according to data from S&P Global Market Intelligence.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/EDC-NL-R3-WK-10-PH-NDC.jpg" alt="" />
<figcaption class="image-caption">National Development Company Assistant General Manager Leopoldo Acot</figcaption>
</figure>
<p>GMI POST spoke with officials from the <strong>National Development Company (NDC)</strong> to learn more about investment opportunities in the Philippines and how the organization serves as a driver for inclusive growth.</p>
<p>Established in 1919, NDC is one of the oldest companies in the Philippines and is the country’s leading state-owned enterprise. Tasked to drive industrial development and spur growth in local communities, NDC’s mandate includes pursuing commercial, industrial, and mining ventures that will support national economic development.</p>
<p><strong>NDC Assistant General Manager Leopoldo Acot </strong>pointed out that NDC supports various innovative projects across various sectors, from agriculture to financial services. It also provides financial support to qualified startups as part of its mandate to further develop the Philippine’s startup ecosystem. <br /><br />“Innovation is essential for development. Both the Department of Trade and Industry and NDC are creating programs to help local creative enterprises, promising tech-based companies, and forward-thinking startup businesses sustain and expand their operations,” Acot said.</p>
<p>In its 104-year history, the NDC has invested in 117 companies, according to <strong>NDC Corporate Planning Officer Joyce Azurin, </strong>who said the company partners not just with Filipino businesses but also with foreign investors and partners as well.</p>
<p>The NDC, Azurin also said, guarantees foreign and domestic loans, undertakes developmental projects, and invests in projects within the ASEAN region.</p>
<p>“We have shares in ASEAN Bintulo Fertilizer in Malaysia and ASEAN Potash in Thailand. We also organize subsidiary companies, like the Philippine International Trade Corporation and Philippine Pharma Procurement Incorporated,” she said.</p>
<p>The breadth of NDC’s investments is wide: from pineapple plantations in the southern Philippines to transportation, logistics, banking, and even Philippine Airlines, the country’s flag carrier, to name a few.</p>
<p>“As of year-end 2022, we invested a total of 8.15 billion pesos (around $150 million) in several projects, ranging from industrial estates to innovation, infrastructure, trading, and mining. We have recorded 58,000 jobs generated from these investments and projects,” Azurin said.</p>',
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'id' => '545544',
'title' => 'Invest Korea: Is this Asian tiger economy still a safe bet?',
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'description' => 'South Korea continues to see a rise in foreign direct investments. According to the Ministry of Trade, Industry and Energy, net FDI increased by $11.5 million in the second quarter of 2023. ',
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'content' => '<p>South Korea continues to see a rise in foreign direct investments. According to the Ministry of Trade, Industry and Energy, net FDI increased by $11.5 million in the second quarter of 2023.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/EDC-NL-R3-WK-10-SOKOR-Invest-Korea-2.jpg" alt="" />
<figcaption class="image-caption">Invest Korea Commissioner Tae Hyung Kim</figcaption>
</figure>
<p>“Our job is to deliver accurate information at the right time. We help investors take advantage of what's on the table and use the information to their maximum advantage so we can build trust. Our goal is to work together from start to finish,” <strong>Invest KOREA (IK) Commissioner Tae Hyung Kim</strong> told GMI POST.</p>
<p>A part of the Korea Trade-Investment Promotion Agency (KOTRA), IK is the national agency in charge of bringing in foreign capital. It provides comprehensive support at all stages, including feasibility studies, investment execution (i.e. the establishment of the investing entity, and legal consultation), to grievance resolution.</p>
<p>Among IK’s key strengths is its extensive global network. It has 36 overseas offices, all of which are staffed by KOTRA employees, public officials dispatched from related government ministries and agencies, and private sector experts. This diverse and highly skilled team is well-equipped to provide tailored support and guidance to foreign investors, ensuring their successful entry and growth in the Korean market.</p>
<p>On South Korea's relationship with the United States, the largest contributor of FDI in the country, Kim said IK has built a strong and reliable relationship with the United States for more than eight decades.</p>
<p>As the United States pivots back to Asia-Pacific, according to Kim, IK has stepped up its efforts to publicize fresh investment opportunities in South Korea and drive the economic partnership forward.</p>
<p>"Korea offers world-class digital infrastructure for foreign direct investment. Subsidy programs and tax incentives cater to the expectations of investors in advanced sectors. What makes Korea distinct, however, is our highly educated talent. Korea has the highest proportion of young talent with high school diplomas and bachelor's degrees among OECD (members),” Kim said.</p>',
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'title' => 'Tourism as a driver of development: Find out how Portland plays to its strengths',
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'description' => 'Portland's tourism sector brought in $248 million in state and local tax revenue. The group also said Portland's travel industry supported 32,700 local jobs and generated $2.3 billion in employment earnings.
What makes the city such an attractive tourist destination? ',
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'content' => '<p>As Oregon’s largest city, Portland is no stranger to the economic benefits of tourism. <strong>Travel Portland</strong>, a private, not-for-profit destination marketing and management organization, reported that, in 2022, the city’s tourism sector brought in $248 million in state and local tax revenue. The group also said Portland’s travel industry supported 32,700 local jobs and generated $2.3 billion in employment earnings.</p>
<p>But what makes Portland such an attractive tourist destination?</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/EDC-NL-R3-WK-10-PACNOR-Portland-Oregon-2.jpg" alt="" />
<figcaption class="image-caption">The Portland Japanese Garden</figcaption>
</figure>
<p>The city’s lifestyle is centered on its charming urban landscape, vibrant community and diverse neighborhoods. Its vibe, creative culture, and commitment to sustainability make Portland enticing for students, business and leisure travelers.</p>
<p>Those looking for gastronomic adventures need not worry because the city offers a wide variety of food and drink, from voodoo donuts and craft beer to creative, French-inspired dishes at the widely-acclaimed Le Pigeon restaurant. Adventure-seekers, on the other hand, can also enjoy breathtaking views of waterfalls and volcanic peaks during their hikes.</p>
<p>Portland has everything for everybody.</p>
<p>According to <strong>Travel Portland Senior Tourism Manager Yoko Furukawa</strong>, prior to the pandemic, over-tourism was a major problem for the city. While the sector has not fully recovered to pre-pandemic levels, the number of visitors to Portland has been rising gradually, which allows travelers to enjoy many sites and attractions without the crowds.</p>
<p>Also, the stable growth in numbers allows the city to plan for more hectic seasons in advance. Travel Portland’s latest report, Economic Impacts of Travel, shows that tourist spending in the Portland metro area grew 36.0% from $3.8 billion in 2021 to $5.2 billion in 2022.</p>
<p>What is one of the city’s strongest markets?</p>
<p>On its website, Travel Portland identifies Japan as “Portland’s most important overseas market.” Hosting a thriving and influential Japanese-American community, the city’s popular attractions include the Japanese-American Historical Plaza, the Oregon Nikkei Legacy Center, and the Portland Japanese Garden.</p>
<p>The city’s academic institutions and cultural centers offer opportunities to learn about Japanese arts, language, and history.</p>
<p>More evidence of its strong ties with Japan, Portland has nurtured a sister city relationship with Sapporo since 1959. Every year, the Portland-Sapporo Sister City Association organizes several cultural events and festivals open to residents and visitors.</p>
<p>Because of the strong ties between Portland and Japan, Furukawa predicts that new growth will be found in the student-tourist segment.</p>',
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'title' => 'Under the investment radar: Is Newberg the next big thing?',
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'description' => 'Just a 35-minute drive from Portland, the state's largest city, Newberg has grown more popular for a quick weekend break. With a handful of top-rated independent inns, first-class restaurants, and more than 50 top-rated wineries, Newberg wants to become more than a destination for foodies and Pinot Noir lovers.',
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'content' => '<p>Just a 35-minute drive from Portland, the state’s largest city, <strong>Newberg</strong> has grown more popular for a quick weekend break. With a handful of top-rated independent inns, first-class restaurants, and more than 50 top-rated wineries, Newberg wants to become more than a destination for foodies and Pinot Noir lovers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/EDC-NL-R3-WK-9-PACNOR-Newberg-Oregon.jpg" alt="" />
<figcaption class="image-caption">Newberg City Manager Will Worthey</figcaption>
</figure>
<p>While its small-town charm has attracted a steady stream of visitors, Newberg also has a lively local population, thanks to George Fox University, the largest private university in Oregon. Like many cities in the Pacific Northwest, Newberg offers business opportunities that are underreported.</p>
<p>“We are a global center for the manufacture of dental equipment. We have two international shipping and dental manufacturers, A-dec and DCI, which are our leading employers,” said <strong>Newberg City Manager Will Worthey</strong>.</p>
<p>“We have plenty of land for housing construction and industrial uses. (We are) within an hour’s drive from all the major metropolitan centers of the state. (We also have) a solid transformer electrical base here, a rail line, and clean water,” Worthey added.</p>
<p>To support the city’s expansion, Mayor Bill Rosacker has announced major changes, including the eradication of burdensome fees related to infrastructure development. The changes, due in April next year, will benefit both the local government and businesses in the city.</p>
<p>As part of its goal to expand its global reach, Newberg wants to further strengthen ties with its sister city Asago in Hyogo Prefecture on Honshu, the largest and most populous island of Japan.</p>',
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'title' => 'Busan, South Korea: How one city is raising the stakes in the tourism race',
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'description' => 'Located at South Korea's southern tip, Busan is blessed with a sub-tropical climate, which has made the country's second-largest city a popular year-round destination for millions of local tourists. Apart from its beaches that get packed during the summer, the port city offers other attractions and events, like the Busan International Film Festival, the largest in Asia. ',
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'content' => '<p>Located at South Korea’s southern tip, Busan is blessed with a sub-tropical climate, which has made the country’s second-largest city a popular year-round destination for millions of local tourists. Apart from its beaches that get packed during the summer, the port city offers other attractions and events, like the Busan International Film Festival, the largest in Asia.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/EDC-NL-R3-WK-9-SOKOR-Busan-Tourism.jpg" alt="" />
<figcaption class="image-caption">Busan Tourism Organization CEO and President Jung-Sil Lee</figcaption>
</figure>
<p>Having attracted 3.2 million international tourists in 2022, according to figures from Visit Korea, Seoul remains the country’s largest tourism revenue generator. While Busan has seen more tourist arrivals, the <strong>Busan Tourism Organization</strong> has stepped up efforts to promote the city’s hidden gems to the world.</p>
<p>“With the alleviation of coronavirus cases, the number of foreign tourists visiting Busan has increased rapidly. By June 2023, the number went up by nearly 500% compared to the same period last year. It is expected that more than 1.8 million people will visit Busan by the end of this year,” said <strong>BTO CEO and President Jung-Sil Lee</strong>.</p>
<p>The organization wants to highlight the city’s historical, cultural and natural attractions, like its Buddhist temples, as well as its food markets.</p>
<p>“BTO’s short-term priorities include making Busan a global “work-cation” city and a tourism city that offers tourists a full experience. We are focusing on promoting and developing content such as gastronomic tourism, night tourism, and marine leisure sports by utilizing Busan's beautiful beaches and coasts, historical heritage, delicious food and seafood, cityscapes and night views, and cultural and artistic events. Through these efforts, we are seeking to generate fresh and enriching experiences for visitors,” Lee said.</p>
<p>Busan is no longer a hidden treasure waiting to be discovered. Thanks to the Busan Tourism Organization's dedication and the increasing interest of travelers, this coastal gem has risen to prominence on the global tourism stage.</p>',
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'description' => 'Tenstorrent CEO Jim Keller, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant's global market dominance.',
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'content' => '<p><strong>Tenstorrent CEO Jim Keller</strong>, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant’s global market dominance.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-Tenstorrent.jpg" alt="" />
<figcaption class="image-caption">Tenstorrent CEO Jim Keller (Photo source: Tenstorrent)</figcaption>
</figure>
<p>Headquartered in Toronto, Tenstorrent has offices in Austin, Texas and Santa Clara, California, as well as in Belgrade, Tokyo, Bangalore, and Seoul. The company claims to be developing AI processors that perform as efficiently as Nvidia's AI GPUs but at a lower cost.</p>
<p>At present, Nvidia is the global market leader when it comes to AI chips. Its AI accelerators command between 70% and 95% of the global market share, according to CNBC.</p>
<p>Keller also said in the interview that Tenstorrent hopes to sell its second-generation multipurpose AI chip by the end of this year.</p>
<p>According to Keller, Tenstorrent can achieve its objective because it does not use high-bandwidth memory (HBM), a popular type of advanced memory chip capable of transferring large amounts of data quickly. HBM is a vital component for generative AI chips and has played a significant role in the success of Nvidia's offerings.</p>
<p>But Keller pointed out that HBM was also one of the culprits behind the massive energy consumption and high prices of AI chips.</p>
<p>"Even the people that use HBM struggle with the cost of it, [and] the design time to build it,” he said.</p>
<p>By doing away with HBM, Tenstorrent will design a chip that can replace both GPUs and HBMs in some areas of AI development, adding that its new product will be "as cost-effective as possible".</p>',
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'content' => '<p>Tokyo-based trading giant <strong>ITOCHU</strong> secured a contract to develop and test AI systems that will help run the transportation network and energy infrastructure of a future smart city project in southern Taiwan, according to a company press release.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-ITOCHU-Taiwan.jpg" alt="" />
<figcaption class="image-caption">ITOCHU plans to roll out AI-powered buses for Taiwan's new smart city project in Tainan. (Photo source: Nikkei Asia)</figcaption>
</figure>
<p>ITOCHU outbid other parties interested in the Integrated Development Project for Shalun Smart Green Energy Science City located in Tainan. The early-stage contract, according to Nikkei Asia, is worth around $332,000 (10.8 million New Taiwan dollars).</p>
<p>According to ITOCHU, the goal is to test its AI systems on a trial basis by the end of October. This is the first time the trading house has officially participated in an overseas smart city project.</p>
<p>The Taiwanese government also announced plans to earmark an additional $306.9 million (or 10 billion NTD) to develop the country’s artificial intelligence (AI) industry. In line with this goal, ITOCHU will collaborate with various Taiwanese partners, including IT company Accton Technology and National Cheng Kung University.</p>
<p>Home to the world's largest semiconductor maker, Taiwan Semiconductor Manufacturing Company (TSMC), Taiwan has a global market share of 61.7%. CNN estimates that TSMC produces 90% of the world's super-advanced semiconductor chips, which are used to power everything from smartphones to artificial intelligence applications.</p>',
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'content' => '<p>Belgium-based supplier of semiconductor solutions <strong>Melexis</strong> has opened its largest wafer testing site worldwide in Kuching in the Malaysian state of Sarawak to strengthen its presence in Asia-Pacific and meet the rising demand for semiconductors around the world, according to a company announcement.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-Melexis.jpg" alt="" />
<figcaption class="image-caption">Melexis' new 70 million-euro facility in Kuching is a nod to the local architectural design. (Photo source: Melexis)</figcaption>
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<p>Wafer testing is part of the manufacturing process wherein all individual integrated circuits are checked for functional defects through special test patterns.</p>
<p>According to Melexis, its expansion in Malaysia is a strategic move to streamline logistics and reduce its ecological footprint. Additionally, it selected Kuching because of its diverse, multilingual, entrepreneurial and highly skilled workforce.</p>
<p><strong>Melexis CEO Marc Biron </strong>said, “With an investment of 70 million euros, this opening underscores the ambition of Melexis and will ensure future growth. With Melexis, we are at the forefront of innovation, and this opening will support us in the markets that we serve.”</p>
<p>The new four-storey building, a collaboration of award-winning Belgian architect Sebastian Mortelmans and local architectural firm DNA, covers a ground surface of 4,500 sq. m., making it the company’s largest wafer testing site worldwide. The modern design evokes local longhouse architecture, incorporates advanced energy-saving systems, like a solar installation that can generate 30.000 kWh per month, and minimizes its environmental impact.</p>
<p>“Melexis has made the right choice to invest in Sarawak. With political stability, Sarawak is business-friendly and welcomes investments that can create mutual benefits. The Sarawak government has always been very supportive of investors both foreign and domestic. It is among the most preferred destinations for investment in Malaysia,” <strong>Sarawak’s Ministry of International Trade, Industry and Investment </strong>said in a statement<strong>.</strong></p>
<p>“Sarawak possesses many comparative advantages for businesses to grow and prosper such as strategic location, availability of green energy, talented workforce, and suitable land for industrial activities,” the statement also said.</p>',
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'content' => '<p>Japanese trading giant <strong>ITOCHU</strong> announced this month it had invested in <strong>ZeroAvia</strong>, a British-American maker of hydrogen-electric engines for aircraft, according to a company statement.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-Itochu-ZeroAvia.jpg" alt="" />
<figcaption class="image-caption">An aircraft powered by ZeroAvia's hydrogen-electric engines (Photo source: ZeroAvia)</figcaption>
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<p>Founded in 2018, ZeroAvia describes itself as “a team of passionate innovators dedicated to bringing safe, zero-emission flight to aviation.” The company claims its hydrogen-electric propulsion systems are “the most environmentally friendly and economically attractive solution to aviation’s growing climate change impact.”</p>
<p>According to ZeroAvia, its hydrogen-electric engines cut more than 90% of harmful emissions, lower operating costs by more than 40%, improve air quality and reduce noise pollution in airport communities.</p>
<p>Under the deal, ITOCHU will serve as ZeroAvia's distributor in Asia, marking its first investment in a developer of hydrogen engines for aircraft and a further expansion into the aviation industry. ITOCHU is part of Japan Aerospace, which is involved in aircraft sales, and of JAMCO, which manufactures materials for aircraft interiors.</p>
<p>According to ITOCHU, this recent investment is part of the company’s long-term goal of helping save the planet by decarbonizing the aviation industry.</p>',
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'description' => 'For the third time in the last five years, Virginia was ranked America's Top State for Business in 2024 by CNBC, which cited the state for having the best public schools in the country. It grabbed the top spot in 2007, 2009, 2011, 2019, and 2021.',
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'content' => '<p>For the third time in the last five years,<strong> Virginia</strong> was ranked America’s Top State for Business in 2024 by CNBC, which cited the state for having the best public schools in the country. It grabbed the top spot in 2007, 2009, 2011, 2019, and 2021.</p>
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<figcaption class="image-caption">Fairfax County Economic Development Authority President and CEO Victor Hoskins (Photo source: Fairfax County Economic Development Authority)</figcaption>
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<p>“Congratulations to Virginia on being named America’s Top State for Business in 2024 by CNBC, a record six times achieving that designation. I know that Virginia succeeds because of our shared belief that collaboration and innovation yield great results for our businesses and their employees,” said <strong>Fairfax County Economic Development Authority President and CEO Victor Hoskins</strong>.</p>
<p>Virginia ranks in the top half or better in each of the study’s 10 categories this year, “a rare feat,” noted CNBC. The state landed in the top 10 in four additional categories: infrastructure (3rd), business friendliness (5th), access to capital (8th) and workforce (9th).</p>
<p>For the first time, CNBC counted infrastructure (including the availability of shovel-ready sites) as the most important component for businesses when deciding on investment and cited the Virginia Business Ready Sites Program, as well as its world-class port, rail, roadway, and air transportation ecosystem as major contributors to the recognition.</p>
<p>CNBC’s annual ranking measures all 50 states on 128 different metrics in 10 key categories of competitiveness. North Carolina ranked second on the list, followed by Texas, Georgia and Florida.</p>
<p>Regarding Virginia’s economic relations with Japan, over $32.5 billion in capital investment has been made by Japanese companies in the last 5 years, according to the Virginia Economic Development Partnership, which also reports that Japanese companies employ more than 15,2000 people in the state.</p>',
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'description' => 'The U.S. subsidiary of Japanese group FANUC, one of the world's largest makers of industrial robots, has opened a $110 million facility in Michigan to store, sell and maintain made-in-Japan industrial robots for North American customers, according to a statement from FANUC America.',
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'content' => '<p>The U.S. subsidiary of Japanese group <strong>FANUC</strong>, one of the world’s largest makers of industrial robots, has opened a $110 million facility in Michigan to store, sell and maintain made-in-Japan industrial robots for North American customers, according to a statement from FANUC America.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-FANUC.jpg" alt="" />
<figcaption class="image-caption">Michigan Gov. Gretchen Whitmer (center) with senior officers of FANUC America at its West Campus. (Photo source: FANUC America)</figcaption>
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<p>The new 650,000-square-foot facility was inaugurated on July 10 and is located in FANUC America’s West Campus in Auburn Hills, Michigan. The expansion increases the company’s footprint in Michigan to over 2 million square feet and is part of FANUC America’s plan to advance industrial automation in North America. The West Campus represents a $110 million investment built on 67 acres of land.</p>
<p>The facility, built on 270,000 square meters, has warehouse space to hold more than 6,000 robots and features automated systems for moving the robots in and out of the building, according to FANUC America.</p>
<p>"Our ongoing upward trajectory allows us to better support our customers with cutting-edge robotic and automation solutions, helping to drive more efficiency across all industries,” <strong>FANUC America CEO Michael Cicco </strong>said at the unveiling ceremony.</p>
<p>The Japanese company said it would have invested $250 million in North America since 2019 once this and other projects in its pipeline are completed. Currently, FANUC America has created over 400 jobs in Michigan.</p>',
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'description' => 'K Health, a leading AI-driven primary care company that provides 24/7 virtual primary care solutions through its mobile app, announced this month that it had raised $50 million in funding led by Claure Group with participation from investors, including Pablo Legorreta (founder and CEO of Royalty Pharma) and Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.',
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'content' => '<p><strong>K Health</strong>, a leading AI-driven primary care company that provides 24/7 virtual primary care solutions through its mobile app, announced this month that it had raised $50 million in funding led by Claure Group with participation from investors, including Pablo Legorreta (founder and CEO of Royalty Pharma) and Mangrove Capital Partners, Valor Equity Partners, and Atreides Management.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-NYNJ-K-Health-Alan-Bloch.jpg" alt="" />
<figcaption class="image-caption">K Health founder and CEO Allon Bloch (Photo source: K Health)</figcaption>
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<p>K Health said in the same statement that it had been developing its own AI technology for more than seven years. Today, it can provide 24/7 virtual primary care solutions to millions of people in the United States.</p>
<p>The K Health platform includes clinical-grade medical chat and AI predictive models based on large datasets to help physicians optimize diagnosis and treatment and focus on patient care.</p>
<p>Instead of doctors taking patients through lengthy procedures and manually piecing together their medical history from electronic medical records, K Health allows healthcare providers to engage more quickly and closely with patients by giving them a complete medical chart with patient insights straight from the app.</p>
<p>According to K Health, this new model of care delivery achieves dramatically higher quality of care at lower costs compared to traditional primary care.</p>
<p>“K Health solves the need to make primary care visits highly personalized by giving doctors AI superpowers that enable them to practice at the top of their license. Our primary care platform offers a concierge medical experience with an assigned provider and 24/7 access to care,” explained<strong> K Health founder and CEO Allon Bloch.</strong></p>
<p>“When partnered with leading health systems, this model creates significant benefits to access, clinical outcomes, and patient experience. All you need to get care is your health insurance, a stark contrast to concierge medicine services that typically cost thousands of dollars,” Bloch added.</p>
<p>Meanwhile, <strong>Claure Group</strong> <strong>Founder and CEO Marcelo Claure </strong>said: As I invest in the AI landscape, I have found it incredibly difficult to discover companies making tangible, real-world progress with AI. K Health is the first company I've seen successfully using AI to impact millions of lives. They are addressing some of healthcare's greatest challenges by providing accessibility to faster, higher-quality, lower-cost care on a large scale."</p>',
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'content' => '<p>Ontario-based multinational <strong>Lee Li Holdings (LLH)</strong> <strong>CEO Lee Q. Shim</strong> told <strong>Cambodian Prime Minister Hun Manet </strong>in a meeting at the capital Phnom Penh this month that his company was looking at investment opportunities in the country, including its automotive healthcare, gas and oil, food processing and logistics, automobiles, and exports accreditation sectors.</p>
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<figcaption class="image-caption">Cambodia Prime Minister Hun Manet (right) met with Lee Li Holdings President and CEO Lee Q. Shim (Ieft) in Phnom Penh this month. (Photo source: Office of the Prime Minister)</figcaption>
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<p>During the meeting, Manet pointed out that the <strong>Cambodia Chamber of Commerce</strong> had two representative offices in Canada (Toronto and Montreal) that promote bilateral trade and assist exporters and importers in their two countries.</p>
<p>“Shim’s visit will further contribute to the promotion of trade relations between Cambodia and Canada,” Manet said.<br /><br />The prime minister also encouraged Shim to pursue discussions with relevant ministries and agencies, such as the Ministry of Health, the Ministry of Mines and Energy, and Ministry of Commerce, adding that his government has supported the private sector by encouraging international investment in the country.</p>
<p>Canada is one of the largest investors in Cambodia and has brought in around $1.1 billion in foreign direct investment as of 2021, Cambodian socio-economic analyst Chey Tech told The Phnom Penh Post in an interview.</p>',
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<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-SG-NU-Hospital.jpg" alt="" />
<figcaption class="image-caption">Key representatives of NUH during the launch of the National University Centre for Trauma (Photo source: Singapore's National University Hospital)</figcaption>
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'title' => 'Germany: A cultural wonderland ',
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'description' => 'For tourists who prefer a safe, developed and vibrant destination, Germany happens to be a popular choice. Ranked No. 1 in the Nation Brand Index for six straight years, Germany has attracted an average of 12 million tourists in the last few years, 11th in the world in terms of absolute numbers. ',
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'content' => '<p>For tourists who prefer a safe, developed and vibrant destination, Germany happens to be a popular choice. Ranked No. 1 in the Nation Brand Index for six straight years, Germany has attracted an average of 12 million tourists in the last few years, 11th in the world in terms of absolute numbers.</p>
<p>More than beautiful scenery, world-class infrastructure and centuries-old breweries, Germany hosts more than 10,000 different cultural festivals that reflect its rich heritage and history, and offer an unforgettable experience to participants, both local and international.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R4/EDC-NL-R4-WK-1-GERMANY-Festivals.jpg" alt="" />
<figcaption class="image-caption">Berlin, Munich, Hamburg, and Cologne attract most of foreign tourists than traditional holiday spots like the Bavarian Alps, Black Forest, and the Baltic Sea resorts because those cities host the country's liveliest and most vibrant festivals.</figcaption>
</figure>
<p>According to a survey by WorldData, Berlin, Munich, Hamburg, and Cologne attract most of foreign tourists than traditional holiday spots like the Bavarian Alps, Black Forest, and the Baltic Sea resorts, most likely because those cities host the country’s liveliest and most vibrant festivals.</p>
<p><strong>Reeperbahn Festival in Hamburg</strong><strong> </strong></p>
<p>With more than 600 concerts taking place across 90 locations in and around the Reeperbahn, the street festival is one of the largest and most diverse in the world.</p>
<p>Not even one kilometer in length, the Reeperbahn is rich in contrast, bright, shrill, vibrant and down-to-earth. That is how Hamburg Tourismus describes the festival on its official website.</p>
<p>More than just a music festival, it also serves as a global platform for international talent.</p>
<p>Alongside concerts, organizers mount conferences and networking events that focus on topics such as sustainability, technology and marketing in the music industry.</p>
<p><strong>Karneval in Cologne</strong></p>
<p>When the clock strikes 11:11 a.m. on the 11th day of November, Cologne kicks off the <em>Karneval</em> with cheers of “<em>Kölle Alaaf!</em>” (Cologne, above all!). The history of this carnival is as old as the city itself and has been celebrated every year since the early 1800s.</p>
<p>With day-long parades that attract more than 1 million spectators, Karneval is not just a fun party held ahead of the Advent and Christmas season, the event has much economic value, generating around $630 million for the city of Cologne.</p>
<p><strong>Berlin International Film Festival</strong></p>
<p>The Berlinale attracts the elite in filmmaking from 132 countries around the world and attracts an audience of several hundreds of thousands. On its 72nd year, the first post-pandemic Berlinale in 2022, reported an attendance of 156,472 film buffs.</p>
<p>As one of the world’s most prestigious film festivals, the event also offers talent development opportunities through its program, Berlinale Talents. This budding, yet lesser-known, initiative provides discipline-specific workshops, public talks and networking opportunities to cinephiles and film professionals alike. As of 2022, its alumni reached 9,000 with many establishing their own initiatives in different parts of the world.</p>
<p><strong>Oktoberfest in Munich</strong></p>
<p>Over the years, Oktoberfest, ironically held in September, has become synonymous with the identity of Munich. What started as a simple marriage celebration between German royalty in the early 1800s, has now become a three-week-long festivity that attracts around 7 million people from all over the world, making it the world’s largest beer festival.</p>
<p>While celebrating German heritage and history, Oktoberfest provides a significant boost to the city and country’s aviation, food, hotel and transport sectors. The event has become an industry in itself and is valued at more than $1 billion.</p>',
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'title' => 'Germany: A cultural wonderland ',
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'description' => 'For tourists who prefer a safe, developed and vibrant destination, Germany happens to be a popular choice. Ranked No. 1 in the Nation Brand Index for six straight years, Germany has attracted an average of 12 million tourists in the last few years, 11th in the world in terms of absolute numbers. ',
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'content' => '<p>For tourists who prefer a safe, developed and vibrant destination, Germany happens to be a popular choice. Ranked No. 1 in the Nation Brand Index for six straight years, Germany has attracted an average of 12 million tourists in the last few years, 11th in the world in terms of absolute numbers.</p>
<p>More than beautiful scenery, world-class infrastructure and centuries-old breweries, Germany hosts more than 10,000 different cultural festivals that reflect its rich heritage and history, and offer an unforgettable experience to participants, both local and international.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R4/EDC-NL-R4-WK-1-GERMANY-Festivals.jpg" alt="" />
<figcaption class="image-caption">Berlin, Munich, Hamburg, and Cologne attract most of foreign tourists than traditional holiday spots like the Bavarian Alps, Black Forest, and the Baltic Sea resorts because those cities host the country's liveliest and most vibrant festivals.</figcaption>
</figure>
<p>According to a survey by WorldData, Berlin, Munich, Hamburg, and Cologne attract most of foreign tourists than traditional holiday spots like the Bavarian Alps, Black Forest, and the Baltic Sea resorts, most likely because those cities host the country’s liveliest and most vibrant festivals.</p>
<p><strong>Reeperbahn Festival in Hamburg</strong><strong> </strong></p>
<p>With more than 600 concerts taking place across 90 locations in and around the Reeperbahn, the street festival is one of the largest and most diverse in the world.</p>
<p>Not even one kilometer in length, the Reeperbahn is rich in contrast, bright, shrill, vibrant and down-to-earth. That is how Hamburg Tourismus describes the festival on its official website.</p>
<p>More than just a music festival, it also serves as a global platform for international talent.</p>
<p>Alongside concerts, organizers mount conferences and networking events that focus on topics such as sustainability, technology and marketing in the music industry.</p>
<p><strong>Karneval in Cologne</strong></p>
<p>When the clock strikes 11:11 a.m. on the 11th day of November, Cologne kicks off the <em>Karneval</em> with cheers of “<em>Kölle Alaaf!</em>” (Cologne, above all!). The history of this carnival is as old as the city itself and has been celebrated every year since the early 1800s.</p>
<p>With day-long parades that attract more than 1 million spectators, Karneval is not just a fun party held ahead of the Advent and Christmas season, the event has much economic value, generating around $630 million for the city of Cologne.</p>
<p><strong>Berlin International Film Festival</strong></p>
<p>The Berlinale attracts the elite in filmmaking from 132 countries around the world and attracts an audience of several hundreds of thousands. On its 72nd year, the first post-pandemic Berlinale in 2022, reported an attendance of 156,472 film buffs.</p>
<p>As one of the world’s most prestigious film festivals, the event also offers talent development opportunities through its program, Berlinale Talents. This budding, yet lesser-known, initiative provides discipline-specific workshops, public talks and networking opportunities to cinephiles and film professionals alike. As of 2022, its alumni reached 9,000 with many establishing their own initiatives in different parts of the world.</p>
<p><strong>Oktoberfest in Munich</strong></p>
<p>Over the years, Oktoberfest, ironically held in September, has become synonymous with the identity of Munich. What started as a simple marriage celebration between German royalty in the early 1800s, has now become a three-week-long festivity that attracts around 7 million people from all over the world, making it the world’s largest beer festival.</p>
<p>While celebrating German heritage and history, Oktoberfest provides a significant boost to the city and country’s aviation, food, hotel and transport sectors. The event has become an industry in itself and is valued at more than $1 billion.</p>',
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'title' => 'Can AI be trusted in logistics? Expedock CEOÂ answers.',
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'description' => 'In the shipping and logistics industries, where more than 80% of supply chain disruptions are caused by human error, AI can save businesses millions of dollars in billable work.
Enter, Expedock.',
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'content' => '<p>Artificial intelligence (AI) is a powerful tool that simplifies complex systems and reduces human errors across various sectors. In the shipping and logistics industries, where more than 80% of supply chain disruptions are caused by human error, AI can save businesses millions of dollars in billable work.</p>
<p>Enter, Expedock.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/FA-WK12-PH-Expedock.jpg" alt="" />
<figcaption class="image-caption">Expedock CEO King Alandy Dy</figcaption>
</figure>
<p>In an exclusive interview with GMI POST, <strong>Expedock CEO King Alandy Dy</strong> shared how the four-year-old company is driving the growth of logistics businesses worldwide through AI-powered automation services.</p>
<p>“Expedock is the data infrastructure of global trade. Our solutions provide freight forwarders with accurate data and allow them to automate their workflows, so their staff can focus on higher-value tasks and unlock impactful growth opportunities,” said Alandy Dy.</p>
<p>According to the 26-year-old CEO, who was named one of Forbes 30 Under 30 Class of 2023, Expedock is the only automation solution provider that ensures 99.97% accuracy and 100% automation coverage.</p>
<p>“What makes Expedock unique is that we are built specifically for this industry. There’s no other solution out there in the space that’s built for supply chain businesses by former supply chain business owners,” said the Expedock CEO. </p>
<p>According to Alandy Dy, the fact that Expedock’s leadership team is composed of former freight forwarding branch owners and import/export managers allows them to give expert advice to their growing number of clients.</p>
<p>“In the past year alone, two of the three largest carriers in the world have signed up with us and are quickly expanding. Five New York Stock Exchange-listed companies also signed up with us this year,” said Alandy Dy, adding that the growth of Expedock since its inception in 2019, its ‘worst’ year-on-year performance, was “2x” (two times).</p>
<p>Alandy Dy also highlighted Expedock’s globally recognized list of investors as another factor behind the company’s rapid growth.</p>
<p>“We recently raised $13.15 million from a round led by Insight Partners, whose portfolio of companies includes Twitter, Shopify, and DocuSign, among others. That brings our total amount raised to around $17.5 and $18 million,” he said.</p>
<p>The Expedock CEO said while the company’s growth has been tremendous, there is more to be done. He wants to forge more partnerships and transform more supply chain businesses into more strategic, profitable, and efficient organizations through AI and automation.</p>
<p>Download Expedock's free eBook "2023 Automation Trends in Freight Forwarding" here: <a href="https://gmipost-expedock.systeme.io/signup" target="_blank" rel="noopener"><strong><em>https://gmipost-expedock.systeme.io/signup</em></strong></a></p>',
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'title' => 'The rise of green logistics: What is it and how does it affect consumers?',
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'description' => 'As electric vehicles (EVs) become more prevalent in the logistics industry worldwide, Portland-based market research firm Allied Market Research (AMR) predicts that the global 'Green Logistics Market' will hit $2.9 trillion by 2032 at a compound annual growth rate (CAGR) of 8.3%.',
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'content' => '<p>As electric vehicles (EVs) become more prevalent in the logistics industry worldwide, Portland-based market research firm <strong>Allied Market Research (AMR) </strong>predicts that the global ‘Green Logistics Market’ will hit $2.9 trillion by 2032 at a compound annual growth rate (CAGR) of 8.3%.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/FA-WK12-PACNOR-Green-Logistics.jpg" alt="" />
<figcaption class="image-caption">Hermann Services Chairman and CEO Jeffrey Hermann</figcaption>
</figure>
<p>Sustainable or green logistics is defined as any practice that minimizes the environmental impact of logistics and delivery networks, and has become a “growing imperative” in business.</p>
<p>According to its July 2023 report, 57% of consumers are willing to change their ecommerce purchasing habits to help reduce their environmental impact. From this finding, AMR concludes that companies are rapidly adjusting their supply chains and logistics systems to meet these new and higher sustainability expectations.</p>
<p>The same study also details the green logistics industry’s four primary drivers of growth: (1) increased corporate social responsibility (CSR) activities by logistic companies, (2) the growing accessibility of EVs in the logistics industry, (3) the rise in government incentives stemming from environmental regulations and legislation, and (4) increase in adoption of artificial intelligence (AI) in the global logistics industry.</p>
<p><strong>Jeffrey Hermann, </strong>Chairman and CEO of the New Jersey-based logistics company <strong>Hermann Services</strong>, weighs in on the numerous benefits of sustainable and green logistics within the report.</p>
<p>“First and foremost, these practices are essential for protecting the environment and reducing the impact of logistics operations on the planet. In addition, they can also lead to cost savings for companies by reducing energy consumption, minimizing waste, and optimizing transport routes. Furthermore, sustainable practices can also improve brand reputation and customer loyalty, as consumers are increasingly looking for products that are environmentally friendly,” said Hermann.</p>
<p>If AMR’s prediction of the future of the global supply chain industry is accurate, then logistics companies should start investing in robust, AI-powered solutions and green strategies today to keep their competitive edge.</p>',
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'title' => 'The world wants fresh fish. Korea's shipping industry delivers',
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'description' => 'South Korea's fishery industry, the 12th largest in the world production-wise, has maximized its profitability thanks to the government's grassroots support and export-focused policies, which is boosted further by the size and efficiency of its shipping industry.',
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'content' => '<p>With total production rising 2.9 percent to 3.82 million metric tons from 2020 to 2021, according to data from the Foreign Agricultural Service of the U.S. Department of Agriculture, South Korea’s fishery industry, the 12th largest in the world production-wise, has maximized its profitability thanks to the government’s grassroots support and export-focused policies, which is boosted further by the size and efficiency of its shipping industry.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/FA-WK12-SOKOR-Fishing-Ministry.jpg" alt="" />
<figcaption class="image-caption">South Korea's Minister of Oceans and Fisheries Minister Seung-Hwan Cho</figcaption>
</figure>
<p>With one of the world's largest merchant fleets, South Korea accounts for around 10% of global maritime trade, according to Logistics Asia. Through Busan, the fifth-busiest port in the world, the country exports seafood across all continents.</p>
<p>“Since taking office as <strong>Minister of Oceans and Fisheries</strong> in May, I have worked hard to expand exports in the marine and fisheries sectors. As a result, Korea achieved record-breaking exports in both shipping and seafood last year. Additionally, we focused on improving living conditions and residential environments in both the coastal and island regions, which were often overlooked in previous policy initiatives,” said <strong>Minister Seung-Hwan Cho.</strong></p>
<p>With an extensive coastline and a deeply rooted fishing tradition, the country harvests a wide array of marine delicacies. Because of their freshness and quality, South Korean seafood has become an important export product that has found its way to dining tables and restaurants across the globe, including the United States.</p>
<p>South Korea and the United States cooperate closely in a wide range of activities, like fisheries as well as research and development. The partnership in the maritime industry has boosted seafood exports and improved the delivery of goods and services between the two countries.</p>
<p>“The United States is a steadfast ally and long-time friend of Korea, and we continue to build on those close ties in various areas that include national defense, diplomacy, and industry. Among these, shipping and logistics stand out as critical aspects of infrastructure that support bilateral trade and cooperation between the two nations,” Cho said.</p>
<p>“The ministry has also been strengthening cooperation with the U.S. across a diverse range of areas, including decarbonization, digitalization, automation, and investments for port infrastructure in the maritime sector,” the minister added.</p>',
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'title' => 'How ModernTec is pioneering electric mobility in Korea and beyond',
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'description' => 'In the fast-evolving electric vehicle sector, ModernTec Corp. Ltd. has nurtured a strong reputation as an innovator. In a span of just over 10 years, the South Korean company has gone from makers of EV chargers to EV makers.
So, how did ModernTec come to dominate South Korea's $267-million EV market?',
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'url' => 'how-moderntec-is-pioneering-electric-mobility-in-korea-and-beyond',
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'content' => '<p>In the fast-evolving electric vehicle sector, ModernTec Corp. Ltd. has nurtured a strong reputation as an innovator. In a span of just over 10 years, the South Korean company has gone from makers of EV chargers to EV makers.<img src="https://www.gmipost.com/img/uploads/FA-WK11-SOKOR-ModernTec.jpg" alt="" /></p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/FA-WK11-SOKOR-ModernTec.jpg" alt="" />
<figcaption class="image-caption">ModernTec has become a leader in South Korea's electric vehicle market in just over 10 years.</figcaption>
</figure>
<p>As of 2022, more than 1,220 electronic buses were playing the roads of South Korea, where 80% of EV buses were made by ModernTec, the country’s largest manufacturer of EVs in the country.</p>
<p>So, how did ModernTec come to dominate South Korea’s $267-million EV market?</p>
<p><strong>The power of know-how</strong></p>
<p>The company's founders were visionaries, having recognized the potential of electric mobility long before it became a global trend. Their expertise in battery technology, vehicle design, and electric propulsion systems positioned them as frontrunners in the race to electrify transportation.</p>
<p>ModernTec's dedication to research and development also paid off handsomely. Their EV buses are renowned for their efficiency, reliability, and eco-friendliness.</p>
<p>“We had a big tie-up with the Korean government in 2017 to provide the EV chargers for the public transportation systems. In 2022, we launched some beautiful models of robots, which will charge EVs directly. Now, we have five international patents and 15 domestic patents related to EV technology,” said <strong>ModernTec CEO Seong-Doo Kim</strong>.</p>
<p><strong>The open sharing of knowledge </strong></p>
<p>ModernTec has also stood out for its commitment to sharing knowledge with the global market, partly in recognition of the urgent need to combat climate change and promote sustainable transportation. This openness has yielded partnerships with companies and governments around the globe. By exporting its technology and expertise, the company has accelerated the adoption of EVs in various countries across Europe and Asia.</p>
<p>“The reasons behind our success is because of a few factors, firstly our know-how of the technology. We know it deeply. Secondly, we understand the technology from the customer's point of view. We don't make the things that we can make. We make the things that our customer needs,” said <strong>R&D Department Global Coordinator and Deputy Dr. Harsh Tiwari</strong>.</p>
<p>As the world strives to build a more sustainable future, ModernTec stands out as one of the leaders who can teach other players how to help create a greener, cleaner, and more electrified world for future generations.</p>',
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'description' => 'Deeply rooted in centuries-old traditional techniques, Seisuke knives are hand-made in limited quantities by craftsmen. Seisuke CEO and Founder Atsuhiro "Hiro" Nakamura says appreciation and love for Japanese knives have grown in recent years thanks to technology and social media.',
'credit_id' => '48',
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'url' => 'japanese-knives-as-modern-cutting-edge-art',
'tags' => 'US, Oregon, Knives, Kitchen Equipment',
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'content' => '<p>Leave it to a skilled chef to transform a dull chore into a sensory delight. Over many decades, cooking shows have grown in popularity around the world, with many chefs having gained celebrity status and many more restaurants becoming sites of a different sort of pilgrimage.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/FA-WK11-PACNOR-Seisuke-Knives.jpg" alt="" />
<figcaption class="image-caption">Product placement in popular TV shows has resulted in higher sales for Seisuke knives.</figcaption>
</figure>
<p>This growing interest has given birth to a new breed of home cooks, those who aspire to create restaurant-quality dishes with the same tools used by their culinary idols. They no longer buy just any sort of equipment. Chef knives, for instance, are now scrutinized for their material, design and feel.</p>
<p>To further prove how technology can help foster an appreciation for authentic, handcrafted Japanese kitchen knives, <strong>Seisuke Knife Portland Store Manager Will West</strong> said product exposure in a popular TV show led to an increase in sales.</p>
<p>“Last year, we were lucky enough to work with the producers of the FX show, The Bear. We sent them quite a few knives, which were used in the second season of the show. The one particularly used by Syd (one of the main characters) has been very popular and for the past months is out of stock,” West said.</p>
<p>Deeply rooted in centuries-old traditional techniques, <strong>Seisuke</strong> knives are hand-made in limited quantities by craftsmen using mostly Damascus steel, valued for its durability and lightness. The material also allows Seisuke’s artisans to come up with razor-sharp blades and put creative designs on the sides of the blade.</p>
<p>“Don’t be afraid of something that looks like an art piece because it’s also meant to be used. But do use them with caution and make sure that you are treating the knife with respect so that it will also treat you with respect,” West said.</p>
<p>To spread its message about these unlikely art pieces, Seisuke Knife Portland organizes live knife-forging demonstrations in the city and in San Francisco, California every September. </p>',
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'id' => '545548',
'title' => 'Design innovation boosts semiconductor industry in the Philippines',
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'description' => 'Capturing 10% of the global manufacturing supply, the Philippine semiconductor industry has grown to become a valuable contributor to economic growth for over 40 years, driven by innovation in integrated circuit design. ',
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'image' => null,
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'url' => 'design-innovation-boosts-semiconductor-industry-in-the-philippines',
'tags' => 'Philippines, Economy, Semiconductors, Integrated Circuits, Microelectronics',
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'content' => '<p>Capturing 10% of the global manufacturing supply, the Philippine semiconductor industry has grown to become a valuable contributor to economic growth for over 40 years, driven by innovation in integrated circuit design.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/FA-WK11-PH-XiNYX.jpg" alt="" />
<figcaption class="image-caption">XiNYX Design General Manager Charade Avondo</figcaption>
</figure>
<p>With revenue expected to reach a compounded annual growth rate (CAGR) of 11.50% between 2023 and 2027, the Philippine IC market appears to have a promising trajectory.</p>
<p>At the forefront of this design innovation are homegrown engineers from hundreds of Philippine companies like <strong>XiNYX Design</strong>, which works closely with semiconductor and technological giants around the world. Backed by more than 600 years of combined experience, XiNYX Design has built a vast client base spread across Asia, North America and Europe.</p>
<p>“We provide our clients with our capabilities and we pride ourselves in working with the latest technologies out there to provide diversified design services,” said <strong>XiNYX Design General Manager Charade Avondo</strong> told GMI POST.</p>
<p>The company attributes its robust growth to the collaborative process from conceptualization to implementation. It works closely with clients to first understand their technical needs, before it checks and verifies the functionality of the working design and finally implements the layout of the IC chip.</p>
<p>As each step is executed remotely, XiNYX Design has nurtured long-standing partnerships in major markets, including the United States.</p>
<p>“For the American semiconductors industry, one of the key drivers is innovation. It wants to push the needle as far as possible to get compact processes. This enables us to get more advanced technologies that we can leverage to diversify our services even further. This is fundamental to our success,” Avondo said.</p>
<p>The value of Philippine IC exports to the United States is projected to reach $8.27 billion by 2027.</p>
<p>To secure its position as a major player in the local industry, XiNYX will continue investing in its Filipino engineers, equipping them with more capabilities to work with the latest transformative technologies. XiNYX wants to become the first Filipino intellectual property (IP) holder in the semiconductor and microelectronics space.</p>',
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'id' => '545543',
'title' => 'How does the Philippines promote inclusive economic growth?',
'description_old' => null,
'description' => 'One of the most dynamic economies in Southeast Asia, the Philippine economy grew at a pace of 7.6% last year, the fastest rate of economic growth recorded since 1976, according to data from S&P Global Market Intelligence. GMI POST spoke with the National Development Company to learn how it serves as a driver for inclusive growth.',
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'url' => 'how-does-the-philippines-promote-inclusive-economic-growth',
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'content' => '<p>One of the most dynamic economies in Southeast Asia, the Philippine economy grew at a pace of 7.6% last year, the fastest rate of economic growth recorded since 1976, according to data from S&P Global Market Intelligence.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/EDC-NL-R3-WK-10-PH-NDC.jpg" alt="" />
<figcaption class="image-caption">National Development Company Assistant General Manager Leopoldo Acot</figcaption>
</figure>
<p>GMI POST spoke with officials from the <strong>National Development Company (NDC)</strong> to learn more about investment opportunities in the Philippines and how the organization serves as a driver for inclusive growth.</p>
<p>Established in 1919, NDC is one of the oldest companies in the Philippines and is the country’s leading state-owned enterprise. Tasked to drive industrial development and spur growth in local communities, NDC’s mandate includes pursuing commercial, industrial, and mining ventures that will support national economic development.</p>
<p><strong>NDC Assistant General Manager Leopoldo Acot </strong>pointed out that NDC supports various innovative projects across various sectors, from agriculture to financial services. It also provides financial support to qualified startups as part of its mandate to further develop the Philippine’s startup ecosystem. <br /><br />“Innovation is essential for development. Both the Department of Trade and Industry and NDC are creating programs to help local creative enterprises, promising tech-based companies, and forward-thinking startup businesses sustain and expand their operations,” Acot said.</p>
<p>In its 104-year history, the NDC has invested in 117 companies, according to <strong>NDC Corporate Planning Officer Joyce Azurin, </strong>who said the company partners not just with Filipino businesses but also with foreign investors and partners as well.</p>
<p>The NDC, Azurin also said, guarantees foreign and domestic loans, undertakes developmental projects, and invests in projects within the ASEAN region.</p>
<p>“We have shares in ASEAN Bintulo Fertilizer in Malaysia and ASEAN Potash in Thailand. We also organize subsidiary companies, like the Philippine International Trade Corporation and Philippine Pharma Procurement Incorporated,” she said.</p>
<p>The breadth of NDC’s investments is wide: from pineapple plantations in the southern Philippines to transportation, logistics, banking, and even Philippine Airlines, the country’s flag carrier, to name a few.</p>
<p>“As of year-end 2022, we invested a total of 8.15 billion pesos (around $150 million) in several projects, ranging from industrial estates to innovation, infrastructure, trading, and mining. We have recorded 58,000 jobs generated from these investments and projects,” Azurin said.</p>',
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'title' => 'Invest Korea: Is this Asian tiger economy still a safe bet?',
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'description' => 'South Korea continues to see a rise in foreign direct investments. According to the Ministry of Trade, Industry and Energy, net FDI increased by $11.5 million in the second quarter of 2023. ',
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'content' => '<p>South Korea continues to see a rise in foreign direct investments. According to the Ministry of Trade, Industry and Energy, net FDI increased by $11.5 million in the second quarter of 2023.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/EDC-NL-R3-WK-10-SOKOR-Invest-Korea-2.jpg" alt="" />
<figcaption class="image-caption">Invest Korea Commissioner Tae Hyung Kim</figcaption>
</figure>
<p>“Our job is to deliver accurate information at the right time. We help investors take advantage of what's on the table and use the information to their maximum advantage so we can build trust. Our goal is to work together from start to finish,” <strong>Invest KOREA (IK) Commissioner Tae Hyung Kim</strong> told GMI POST.</p>
<p>A part of the Korea Trade-Investment Promotion Agency (KOTRA), IK is the national agency in charge of bringing in foreign capital. It provides comprehensive support at all stages, including feasibility studies, investment execution (i.e. the establishment of the investing entity, and legal consultation), to grievance resolution.</p>
<p>Among IK’s key strengths is its extensive global network. It has 36 overseas offices, all of which are staffed by KOTRA employees, public officials dispatched from related government ministries and agencies, and private sector experts. This diverse and highly skilled team is well-equipped to provide tailored support and guidance to foreign investors, ensuring their successful entry and growth in the Korean market.</p>
<p>On South Korea's relationship with the United States, the largest contributor of FDI in the country, Kim said IK has built a strong and reliable relationship with the United States for more than eight decades.</p>
<p>As the United States pivots back to Asia-Pacific, according to Kim, IK has stepped up its efforts to publicize fresh investment opportunities in South Korea and drive the economic partnership forward.</p>
<p>"Korea offers world-class digital infrastructure for foreign direct investment. Subsidy programs and tax incentives cater to the expectations of investors in advanced sectors. What makes Korea distinct, however, is our highly educated talent. Korea has the highest proportion of young talent with high school diplomas and bachelor's degrees among OECD (members),” Kim said.</p>',
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'title' => 'Tourism as a driver of development: Find out how Portland plays to its strengths',
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'description' => 'Portland's tourism sector brought in $248 million in state and local tax revenue. The group also said Portland's travel industry supported 32,700 local jobs and generated $2.3 billion in employment earnings.
What makes the city such an attractive tourist destination? ',
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'content' => '<p>As Oregon’s largest city, Portland is no stranger to the economic benefits of tourism. <strong>Travel Portland</strong>, a private, not-for-profit destination marketing and management organization, reported that, in 2022, the city’s tourism sector brought in $248 million in state and local tax revenue. The group also said Portland’s travel industry supported 32,700 local jobs and generated $2.3 billion in employment earnings.</p>
<p>But what makes Portland such an attractive tourist destination?</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/EDC-NL-R3-WK-10-PACNOR-Portland-Oregon-2.jpg" alt="" />
<figcaption class="image-caption">The Portland Japanese Garden</figcaption>
</figure>
<p>The city’s lifestyle is centered on its charming urban landscape, vibrant community and diverse neighborhoods. Its vibe, creative culture, and commitment to sustainability make Portland enticing for students, business and leisure travelers.</p>
<p>Those looking for gastronomic adventures need not worry because the city offers a wide variety of food and drink, from voodoo donuts and craft beer to creative, French-inspired dishes at the widely-acclaimed Le Pigeon restaurant. Adventure-seekers, on the other hand, can also enjoy breathtaking views of waterfalls and volcanic peaks during their hikes.</p>
<p>Portland has everything for everybody.</p>
<p>According to <strong>Travel Portland Senior Tourism Manager Yoko Furukawa</strong>, prior to the pandemic, over-tourism was a major problem for the city. While the sector has not fully recovered to pre-pandemic levels, the number of visitors to Portland has been rising gradually, which allows travelers to enjoy many sites and attractions without the crowds.</p>
<p>Also, the stable growth in numbers allows the city to plan for more hectic seasons in advance. Travel Portland’s latest report, Economic Impacts of Travel, shows that tourist spending in the Portland metro area grew 36.0% from $3.8 billion in 2021 to $5.2 billion in 2022.</p>
<p>What is one of the city’s strongest markets?</p>
<p>On its website, Travel Portland identifies Japan as “Portland’s most important overseas market.” Hosting a thriving and influential Japanese-American community, the city’s popular attractions include the Japanese-American Historical Plaza, the Oregon Nikkei Legacy Center, and the Portland Japanese Garden.</p>
<p>The city’s academic institutions and cultural centers offer opportunities to learn about Japanese arts, language, and history.</p>
<p>More evidence of its strong ties with Japan, Portland has nurtured a sister city relationship with Sapporo since 1959. Every year, the Portland-Sapporo Sister City Association organizes several cultural events and festivals open to residents and visitors.</p>
<p>Because of the strong ties between Portland and Japan, Furukawa predicts that new growth will be found in the student-tourist segment.</p>',
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'id' => '545540',
'title' => 'Under the investment radar: Is Newberg the next big thing?',
'description_old' => null,
'description' => 'Just a 35-minute drive from Portland, the state's largest city, Newberg has grown more popular for a quick weekend break. With a handful of top-rated independent inns, first-class restaurants, and more than 50 top-rated wineries, Newberg wants to become more than a destination for foodies and Pinot Noir lovers.',
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'url' => 'under-the-investment-radar-is-newberg-the-next-big-thing',
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'content' => '<p>Just a 35-minute drive from Portland, the state’s largest city, <strong>Newberg</strong> has grown more popular for a quick weekend break. With a handful of top-rated independent inns, first-class restaurants, and more than 50 top-rated wineries, Newberg wants to become more than a destination for foodies and Pinot Noir lovers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/EDC-NL-R3-WK-9-PACNOR-Newberg-Oregon.jpg" alt="" />
<figcaption class="image-caption">Newberg City Manager Will Worthey</figcaption>
</figure>
<p>While its small-town charm has attracted a steady stream of visitors, Newberg also has a lively local population, thanks to George Fox University, the largest private university in Oregon. Like many cities in the Pacific Northwest, Newberg offers business opportunities that are underreported.</p>
<p>“We are a global center for the manufacture of dental equipment. We have two international shipping and dental manufacturers, A-dec and DCI, which are our leading employers,” said <strong>Newberg City Manager Will Worthey</strong>.</p>
<p>“We have plenty of land for housing construction and industrial uses. (We are) within an hour’s drive from all the major metropolitan centers of the state. (We also have) a solid transformer electrical base here, a rail line, and clean water,” Worthey added.</p>
<p>To support the city’s expansion, Mayor Bill Rosacker has announced major changes, including the eradication of burdensome fees related to infrastructure development. The changes, due in April next year, will benefit both the local government and businesses in the city.</p>
<p>As part of its goal to expand its global reach, Newberg wants to further strengthen ties with its sister city Asago in Hyogo Prefecture on Honshu, the largest and most populous island of Japan.</p>',
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'description' => 'Located at South Korea's southern tip, Busan is blessed with a sub-tropical climate, which has made the country's second-largest city a popular year-round destination for millions of local tourists. Apart from its beaches that get packed during the summer, the port city offers other attractions and events, like the Busan International Film Festival, the largest in Asia. ',
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'content' => '<p>Located at South Korea’s southern tip, Busan is blessed with a sub-tropical climate, which has made the country’s second-largest city a popular year-round destination for millions of local tourists. Apart from its beaches that get packed during the summer, the port city offers other attractions and events, like the Busan International Film Festival, the largest in Asia.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R3/EDC-NL-R3-WK-9-SOKOR-Busan-Tourism.jpg" alt="" />
<figcaption class="image-caption">Busan Tourism Organization CEO and President Jung-Sil Lee</figcaption>
</figure>
<p>Having attracted 3.2 million international tourists in 2022, according to figures from Visit Korea, Seoul remains the country’s largest tourism revenue generator. While Busan has seen more tourist arrivals, the <strong>Busan Tourism Organization</strong> has stepped up efforts to promote the city’s hidden gems to the world.</p>
<p>“With the alleviation of coronavirus cases, the number of foreign tourists visiting Busan has increased rapidly. By June 2023, the number went up by nearly 500% compared to the same period last year. It is expected that more than 1.8 million people will visit Busan by the end of this year,” said <strong>BTO CEO and President Jung-Sil Lee</strong>.</p>
<p>The organization wants to highlight the city’s historical, cultural and natural attractions, like its Buddhist temples, as well as its food markets.</p>
<p>“BTO’s short-term priorities include making Busan a global “work-cation” city and a tourism city that offers tourists a full experience. We are focusing on promoting and developing content such as gastronomic tourism, night tourism, and marine leisure sports by utilizing Busan's beautiful beaches and coasts, historical heritage, delicious food and seafood, cityscapes and night views, and cultural and artistic events. Through these efforts, we are seeking to generate fresh and enriching experiences for visitors,” Lee said.</p>
<p>Busan is no longer a hidden treasure waiting to be discovered. Thanks to the Busan Tourism Organization's dedication and the increasing interest of travelers, this coastal gem has risen to prominence on the global tourism stage.</p>',
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'description' => 'Tenstorrent CEO Jim Keller, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant's global market dominance.',
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'content' => '<p><strong>Tenstorrent CEO Jim Keller</strong>, who worked for Intel, AMD and Tesla, said in an interview with Nikkei Asia that he wants to lower the price of AI applications by designing chips that are more efficient than Nvidia's and, in the process, end the American giant’s global market dominance.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-Tenstorrent.jpg" alt="" />
<figcaption class="image-caption">Tenstorrent CEO Jim Keller (Photo source: Tenstorrent)</figcaption>
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<p>Headquartered in Toronto, Tenstorrent has offices in Austin, Texas and Santa Clara, California, as well as in Belgrade, Tokyo, Bangalore, and Seoul. The company claims to be developing AI processors that perform as efficiently as Nvidia's AI GPUs but at a lower cost.</p>
<p>At present, Nvidia is the global market leader when it comes to AI chips. Its AI accelerators command between 70% and 95% of the global market share, according to CNBC.</p>
<p>Keller also said in the interview that Tenstorrent hopes to sell its second-generation multipurpose AI chip by the end of this year.</p>
<p>According to Keller, Tenstorrent can achieve its objective because it does not use high-bandwidth memory (HBM), a popular type of advanced memory chip capable of transferring large amounts of data quickly. HBM is a vital component for generative AI chips and has played a significant role in the success of Nvidia's offerings.</p>
<p>But Keller pointed out that HBM was also one of the culprits behind the massive energy consumption and high prices of AI chips.</p>
<p>"Even the people that use HBM struggle with the cost of it, [and] the design time to build it,” he said.</p>
<p>By doing away with HBM, Tenstorrent will design a chip that can replace both GPUs and HBMs in some areas of AI development, adding that its new product will be "as cost-effective as possible".</p>',
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'content' => '<p>Tokyo-based trading giant <strong>ITOCHU</strong> secured a contract to develop and test AI systems that will help run the transportation network and energy infrastructure of a future smart city project in southern Taiwan, according to a company press release.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-13-ITOCHU-Taiwan.jpg" alt="" />
<figcaption class="image-caption">ITOCHU plans to roll out AI-powered buses for Taiwan's new smart city project in Tainan. (Photo source: Nikkei Asia)</figcaption>
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<p>ITOCHU outbid other parties interested in the Integrated Development Project for Shalun Smart Green Energy Science City located in Tainan. The early-stage contract, according to Nikkei Asia, is worth around $332,000 (10.8 million New Taiwan dollars).</p>
<p>According to ITOCHU, the goal is to test its AI systems on a trial basis by the end of October. This is the first time the trading house has officially participated in an overseas smart city project.</p>
<p>The Taiwanese government also announced plans to earmark an additional $306.9 million (or 10 billion NTD) to develop the country’s artificial intelligence (AI) industry. In line with this goal, ITOCHU will collaborate with various Taiwanese partners, including IT company Accton Technology and National Cheng Kung University.</p>
<p>Home to the world's largest semiconductor maker, Taiwan Semiconductor Manufacturing Company (TSMC), Taiwan has a global market share of 61.7%. CNN estimates that TSMC produces 90% of the world's super-advanced semiconductor chips, which are used to power everything from smartphones to artificial intelligence applications.</p>',
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'content' => '<p>Belgium-based supplier of semiconductor solutions <strong>Melexis</strong> has opened its largest wafer testing site worldwide in Kuching in the Malaysian state of Sarawak to strengthen its presence in Asia-Pacific and meet the rising demand for semiconductors around the world, according to a company announcement.</p>
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<figcaption class="image-caption">Melexis' new 70 million-euro facility in Kuching is a nod to the local architectural design. (Photo source: Melexis)</figcaption>
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<p>Wafer testing is part of the manufacturing process wherein all individual integrated circuits are checked for functional defects through special test patterns.</p>
<p>According to Melexis, its expansion in Malaysia is a strategic move to streamline logistics and reduce its ecological footprint. Additionally, it selected Kuching because of its diverse, multilingual, entrepreneurial and highly skilled workforce.</p>
<p><strong>Melexis CEO Marc Biron </strong>said, “With an investment of 70 million euros, this opening underscores the ambition of Melexis and will ensure future growth. With Melexis, we are at the forefront of innovation, and this opening will support us in the markets that we serve.”</p>
<p>The new four-storey building, a collaboration of award-winning Belgian architect Sebastian Mortelmans and local architectural firm DNA, covers a ground surface of 4,500 sq. m., making it the company’s largest wafer testing site worldwide. The modern design evokes local longhouse architecture, incorporates advanced energy-saving systems, like a solar installation that can generate 30.000 kWh per month, and minimizes its environmental impact.</p>
<p>“Melexis has made the right choice to invest in Sarawak. With political stability, Sarawak is business-friendly and welcomes investments that can create mutual benefits. The Sarawak government has always been very supportive of investors both foreign and domestic. It is among the most preferred destinations for investment in Malaysia,” <strong>Sarawak’s Ministry of International Trade, Industry and Investment </strong>said in a statement<strong>.</strong></p>
<p>“Sarawak possesses many comparative advantages for businesses to grow and prosper such as strategic location, availability of green energy, talented workforce, and suitable land for industrial activities,” the statement also said.</p>',
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'title' => 'ITOCHU invests in U.S. hydrogen aircraft engine maker ZeroAvia',
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'description' => 'Japanese trading giant ITOCHU announced this month it had invested in ZeroAvia, a British-American maker of hydrogen-electric engines for aircraft, according to a company statement.',
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'content' => '<p>Japanese trading giant <strong>ITOCHU</strong> announced this month it had invested in <strong>ZeroAvia</strong>, a British-American maker of hydrogen-electric engines for aircraft, according to a company statement.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-US-Jap-WK-13-Itochu-ZeroAvia.jpg" alt="" />
<figcaption class="image-caption">An aircraft powered by ZeroAvia's hydrogen-electric engines (Photo source: ZeroAvia)</figcaption>
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<p>Founded in 2018, ZeroAvia describes itself as “a team of passionate innovators dedicated to bringing safe, zero-emission flight to aviation.” The company claims its hydrogen-electric propulsion systems are “the most environmentally friendly and economically attractive solution to aviation’s growing climate change impact.”</p>
<p>According to ZeroAvia, its hydrogen-electric engines cut more than 90% of harmful emissions, lower operating costs by more than 40%, improve air quality and reduce noise pollution in airport communities.</p>
<p>Under the deal, ITOCHU will serve as ZeroAvia's distributor in Asia, marking its first investment in a developer of hydrogen engines for aircraft and a further expansion into the aviation industry. ITOCHU is part of Japan Aerospace, which is involved in aircraft sales, and of JAMCO, which manufactures materials for aircraft interiors.</p>
<p>According to ITOCHU, this recent investment is part of the company’s long-term goal of helping save the planet by decarbonizing the aviation industry.</p>',
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'description' => 'For the third time in the last five years, Virginia was ranked America's Top State for Business in 2024 by CNBC, which cited the state for having the best public schools in the country. It grabbed the top spot in 2007, 2009, 2011, 2019, and 2021.',
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'content' => '<p>For the third time in the last five years,<strong> Virginia</strong> was ranked America’s Top State for Business in 2024 by CNBC, which cited the state for having the best public schools in the country. It grabbed the top spot in 2007, 2009, 2011, 2019, and 2021.</p>
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<figcaption class="image-caption">Fairfax County Economic Development Authority President and CEO Victor Hoskins (Photo source: Fairfax County Economic Development Authority)</figcaption>
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<p>“Congratulations to Virginia on being named America’s Top State for Business in 2024 by CNBC, a record six times achieving that designation. I know that Virginia succeeds because of our shared belief that collaboration and innovation yield great results for our businesses and their employees,” said <strong>Fairfax County Economic Development Authority President and CEO Victor Hoskins</strong>.</p>
<p>Virginia ranks in the top half or better in each of the study’s 10 categories this year, “a rare feat,” noted CNBC. The state landed in the top 10 in four additional categories: infrastructure (3rd), business friendliness (5th), access to capital (8th) and workforce (9th).</p>
<p>For the first time, CNBC counted infrastructure (including the availability of shovel-ready sites) as the most important component for businesses when deciding on investment and cited the Virginia Business Ready Sites Program, as well as its world-class port, rail, roadway, and air transportation ecosystem as major contributors to the recognition.</p>
<p>CNBC’s annual ranking measures all 50 states on 128 different metrics in 10 key categories of competitiveness. North Carolina ranked second on the list, followed by Texas, Georgia and Florida.</p>
<p>Regarding Virginia’s economic relations with Japan, over $32.5 billion in capital investment has been made by Japanese companies in the last 5 years, according to the Virginia Economic Development Partnership, which also reports that Japanese companies employ more than 15,2000 people in the state.</p>',
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<figcaption class="image-caption">Michigan Gov. Gretchen Whitmer (center) with senior officers of FANUC America at its West Campus. (Photo source: FANUC America)</figcaption>
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<p>The new 650,000-square-foot facility was inaugurated on July 10 and is located in FANUC America’s West Campus in Auburn Hills, Michigan. The expansion increases the company’s footprint in Michigan to over 2 million square feet and is part of FANUC America’s plan to advance industrial automation in North America. The West Campus represents a $110 million investment built on 67 acres of land.</p>
<p>The facility, built on 270,000 square meters, has warehouse space to hold more than 6,000 robots and features automated systems for moving the robots in and out of the building, according to FANUC America.</p>
<p>"Our ongoing upward trajectory allows us to better support our customers with cutting-edge robotic and automation solutions, helping to drive more efficiency across all industries,” <strong>FANUC America CEO Michael Cicco </strong>said at the unveiling ceremony.</p>
<p>The Japanese company said it would have invested $250 million in North America since 2019 once this and other projects in its pipeline are completed. Currently, FANUC America has created over 400 jobs in Michigan.</p>',
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<figcaption class="image-caption">K Health founder and CEO Allon Bloch (Photo source: K Health)</figcaption>
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<p>K Health said in the same statement that it had been developing its own AI technology for more than seven years. Today, it can provide 24/7 virtual primary care solutions to millions of people in the United States.</p>
<p>The K Health platform includes clinical-grade medical chat and AI predictive models based on large datasets to help physicians optimize diagnosis and treatment and focus on patient care.</p>
<p>Instead of doctors taking patients through lengthy procedures and manually piecing together their medical history from electronic medical records, K Health allows healthcare providers to engage more quickly and closely with patients by giving them a complete medical chart with patient insights straight from the app.</p>
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<p>“K Health solves the need to make primary care visits highly personalized by giving doctors AI superpowers that enable them to practice at the top of their license. Our primary care platform offers a concierge medical experience with an assigned provider and 24/7 access to care,” explained<strong> K Health founder and CEO Allon Bloch.</strong></p>
<p>“When partnered with leading health systems, this model creates significant benefits to access, clinical outcomes, and patient experience. All you need to get care is your health insurance, a stark contrast to concierge medicine services that typically cost thousands of dollars,” Bloch added.</p>
<p>Meanwhile, <strong>Claure Group</strong> <strong>Founder and CEO Marcelo Claure </strong>said: As I invest in the AI landscape, I have found it incredibly difficult to discover companies making tangible, real-world progress with AI. K Health is the first company I've seen successfully using AI to impact millions of lives. They are addressing some of healthcare's greatest challenges by providing accessibility to faster, higher-quality, lower-cost care on a large scale."</p>',
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'content' => '<p>Ontario-based multinational <strong>Lee Li Holdings (LLH)</strong> <strong>CEO Lee Q. Shim</strong> told <strong>Cambodian Prime Minister Hun Manet </strong>in a meeting at the capital Phnom Penh this month that his company was looking at investment opportunities in the country, including its automotive healthcare, gas and oil, food processing and logistics, automobiles, and exports accreditation sectors.</p>
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<figcaption class="image-caption">Cambodia Prime Minister Hun Manet (right) met with Lee Li Holdings President and CEO Lee Q. Shim (Ieft) in Phnom Penh this month. (Photo source: Office of the Prime Minister)</figcaption>
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<p>During the meeting, Manet pointed out that the <strong>Cambodia Chamber of Commerce</strong> had two representative offices in Canada (Toronto and Montreal) that promote bilateral trade and assist exporters and importers in their two countries.</p>
<p>“Shim’s visit will further contribute to the promotion of trade relations between Cambodia and Canada,” Manet said.<br /><br />The prime minister also encouraged Shim to pursue discussions with relevant ministries and agencies, such as the Ministry of Health, the Ministry of Mines and Energy, and Ministry of Commerce, adding that his government has supported the private sector by encouraging international investment in the country.</p>
<p>Canada is one of the largest investors in Cambodia and has brought in around $1.1 billion in foreign direct investment as of 2021, Cambodian socio-economic analyst Chey Tech told The Phnom Penh Post in an interview.</p>',
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'content' => '<p><strong>National University Hospital (NUH)</strong>, the main teaching hospital of the country’s top-ranking National University of Singapore, announced this month the opening of a center focused on providing trauma care to vulnerable groups, particularly children, older adults, and migrant workers.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-12-SG-NU-Hospital.jpg" alt="" />
<figcaption class="image-caption">Key representatives of NUH during the launch of the National University Centre for Trauma (Photo source: Singapore's National University Hospital)</figcaption>
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<p>According to the NUH, the center will use a code system to reduce the time between admission to the emergency department and the transfer to an operating theatre. Code Trauma involves the mobilization of all essential staff, including emergency physicians, nurses, surgeons, and anesthesiologists, to accelerate decision-making and response for patients with polytrauma or multiple injuries.</p>
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'description' => 'For tourists who prefer a safe, developed and vibrant destination, Germany happens to be a popular choice. Ranked No. 1 in the Nation Brand Index for six straight years, Germany has attracted an average of 12 million tourists in the last few years, 11th in the world in terms of absolute numbers. ',
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'content' => '<p>For tourists who prefer a safe, developed and vibrant destination, Germany happens to be a popular choice. Ranked No. 1 in the Nation Brand Index for six straight years, Germany has attracted an average of 12 million tourists in the last few years, 11th in the world in terms of absolute numbers.</p>
<p>More than beautiful scenery, world-class infrastructure and centuries-old breweries, Germany hosts more than 10,000 different cultural festivals that reflect its rich heritage and history, and offer an unforgettable experience to participants, both local and international.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Non-Report/Newsletters%202023/2023-R4/EDC-NL-R4-WK-1-GERMANY-Festivals.jpg" alt="" />
<figcaption class="image-caption">Berlin, Munich, Hamburg, and Cologne attract most of foreign tourists than traditional holiday spots like the Bavarian Alps, Black Forest, and the Baltic Sea resorts because those cities host the country's liveliest and most vibrant festivals.</figcaption>
</figure>
<p>According to a survey by WorldData, Berlin, Munich, Hamburg, and Cologne attract most of foreign tourists than traditional holiday spots like the Bavarian Alps, Black Forest, and the Baltic Sea resorts, most likely because those cities host the country’s liveliest and most vibrant festivals.</p>
<p><strong>Reeperbahn Festival in Hamburg</strong><strong> </strong></p>
<p>With more than 600 concerts taking place across 90 locations in and around the Reeperbahn, the street festival is one of the largest and most diverse in the world.</p>
<p>Not even one kilometer in length, the Reeperbahn is rich in contrast, bright, shrill, vibrant and down-to-earth. That is how Hamburg Tourismus describes the festival on its official website.</p>
<p>More than just a music festival, it also serves as a global platform for international talent.</p>
<p>Alongside concerts, organizers mount conferences and networking events that focus on topics such as sustainability, technology and marketing in the music industry.</p>
<p><strong>Karneval in Cologne</strong></p>
<p>When the clock strikes 11:11 a.m. on the 11th day of November, Cologne kicks off the <em>Karneval</em> with cheers of “<em>Kölle Alaaf!</em>” (Cologne, above all!). The history of this carnival is as old as the city itself and has been celebrated every year since the early 1800s.</p>
<p>With day-long parades that attract more than 1 million spectators, Karneval is not just a fun party held ahead of the Advent and Christmas season, the event has much economic value, generating around $630 million for the city of Cologne.</p>
<p><strong>Berlin International Film Festival</strong></p>
<p>The Berlinale attracts the elite in filmmaking from 132 countries around the world and attracts an audience of several hundreds of thousands. On its 72nd year, the first post-pandemic Berlinale in 2022, reported an attendance of 156,472 film buffs.</p>
<p>As one of the world’s most prestigious film festivals, the event also offers talent development opportunities through its program, Berlinale Talents. This budding, yet lesser-known, initiative provides discipline-specific workshops, public talks and networking opportunities to cinephiles and film professionals alike. As of 2022, its alumni reached 9,000 with many establishing their own initiatives in different parts of the world.</p>
<p><strong>Oktoberfest in Munich</strong></p>
<p>Over the years, Oktoberfest, ironically held in September, has become synonymous with the identity of Munich. What started as a simple marriage celebration between German royalty in the early 1800s, has now become a three-week-long festivity that attracts around 7 million people from all over the world, making it the world’s largest beer festival.</p>
<p>While celebrating German heritage and history, Oktoberfest provides a significant boost to the city and country’s aviation, food, hotel and transport sectors. The event has become an industry in itself and is valued at more than $1 billion.</p>',
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Germany: A cultural wonderland
For tourists who prefer a safe, developed and vibrant destination, Germany happens to be a popular choice. Ranked No. 1 in the Nation Brand Index f...
