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<p>“This investment is an important step to further accelerate the growth of our biopharmaceutical CDMO (contract development and manufacturing organization) business,” said <strong>Fujifilm Corp. President and CEO Teiichi Goto</strong>.</p>
<p>“Fujifilm is committed to advancing a healthier society, and we are proud that our people, and this site in Holly Springs will play a vital role in supporting our partners in producing critical therapies to serve the needs of patients,” Goto added.</p>
<p>According to Fujifilm, the investment will also support its initiatives that contribute to net-zero operations.</p>
<p>Meanwhile, <strong>Economic Development Partnership of North Carolina CEO Christopher Chung</strong> expressed support for the project.</p>
<p>“North Carolina is known worldwide as a biotechnology hub thanks to the continued investment from companies like Fujifilm Diosynth. Our robust infrastructure, top-notch engineering talent in the state, and partnerships with entities like NC State University and the North Carolina Biotechnology Center, provide support for innovative companies like FUJIFILM to continue to grow.”</p>',
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<p>Under his stewardship, Elizabeth has emerged as an example of opportunity, attracting both domestic investors and international ventures seeking a strategic foothold in the American market, especially with Port Elizabeth.</p>
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<p>Reflecting on his transformative policies, Bollwage said, “Economic revitalization is not a solitary endeavor; it is a collaborative endeavor that requires the concerted efforts of government, business, and community stakeholders.”</p>
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'content' => '<p>Cambodia, also known popularly as the Kingdom of Wonder, is regarded by the travel industry as among Southeast Asia’s most popular tourism destinations. With a blend of natural, cultural, and historical wonders, among them the 900-year-old Angkor Wat, a UNESCO World Heritage Site, the country offers well-preserved archeological sites, a vibrant urban scene, and relaxing tropical resorts.</p>
<figure class="image-container floated-right" style="float: right;"><img class="align-right" src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-1-CAMB-Tourism-Minister-Sok-Soken.jpg" alt="" />
<figcaption class="image-caption">Tourism Minister Sok Soken</figcaption>
</figure>
<p>The kingdom continues to attract more travelers from around the world. In 2023, Cambodia saw a 156% increase in tourism arrivals from the previous year, making it one of Asia's top most-visited countries. This growth in the country’s tourism sector is predicted to become a major pillar of Cambodia’s economic growth, The Asian Development Bank projects Cambodia's economy to grow from 5.8% in 2024 to 6.0% in 2025.</p>
<p>Behind this success story is Cambodia’s Ministry of Tourism, which has launched promotional campaigns and innovative strategies that target international visitors. Following the successful campaigns in the previous years, the government announced its newest initiative, Visit Siem Reap 2024.</p>
<p>Anchored around the world-famous Angkor Archaeological Park, the campaign will showcase the splendor of its home Siem Reap, and further elevate the ancient site into a must-visit destination on the global tourism map.</p>
<p>“The Visit Siem Reap 2024 campaign, together with our other activities, will help us initiate more tourism activities with priority markets. There will be a lot of cultural activities, and interaction at the government, private, and business sector levels. With the coordination of the Ministry of Tourism, all the engagement activities will be on the horizon,” said <strong>Tourism Minister Sok Soken </strong>during the launch held at Angkor Wat.</p>
<p>Echoing his sentiment, <strong>Prime Minister Hun Maten</strong> pledged his support for the campaign, which envisions annual events in Siem Reap province and the transformation of the local Phnom Kulen National Park into “an attractive destination for cultural, natural, adventure and religious tourism.”</p>
<p><strong>Thourn Sinan, chairman of the Pacific Asia Travel Association Cambodia Chapter</strong>, also outlined a strategic roadmap for the success of the Visit Siem Reap 2024 campaign, which includes developing an evocative brand identity that highlights the unique cultural experiences of Siem Reap, launching a multilingual website and social media channels, partnering with influencers in key markets, and distributing promotional materials globally through airline partnerships and travel agencies.</p>
<p>“By comprehensively implementing these strategies across marketing, experiences, and sustainability, Siem Reap aims to become Southeast Asia’s most vibrant cultural destination, protecting heritage and inspiring visitors through authentic encounters with Khmer civilization,” he said.</p>',
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'description' => 'It's no accident the world's most recognizable brands are present in Singapore. With a total land area of only 734.3 sq. Km., the island state is dubbed The Little Red Dot. But, what the country lacks in size, it makes up for in economic dynamism. ',
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'content' => '<p>It’s no accident the world’s most recognizable brands are present in Singapore. With a total land area of only 734.3 sq. Km., the island state is dubbed The Little Red Dot. But, what the country lacks in size, it makes up for in economic dynamism.</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-1-SG-SICC-CEO-Victor-Mills.jpg" alt="" />
<figcaption class="image-caption">Singapore International Chamber of Commerce CEO Victor Mills</figcaption>
</figure>
<p>As of 2023, Singapore ranked 4th among 64 countries in the World Competitive Index, surpassed only by Denmark, Ireland, and Switzerland.</p>
<p>In an interview with GMI POST, <strong>Singapore International Chamber of Commerce CEO Victor Mills</strong> explained that because of a scarcity of natural resources, Singapore’s private, public, and non-government sectors have had to collaborate closely to achieve its economic strength.</p>
<p>“Industrial relations are no longer adversarial like they were in the 50’s. They’re consensual because everybody realizes that we’re all in the same boat. The answer is to work together. Similarly, there is racial and religious harmony. We’re a multiracial society,” Mills said.</p>
<p>Harmony. Intention. Partnership.</p>
<p>Those three words are simple enough to be appreciated by elementary school children. Yet, the same words characterize Singapore’s economic policies, world-class infrastructure, highly skilled workforce, and leadership in innovation.</p>
<p>By adhering to those core values, Singaporeans have entered into a social contract that secures a good quality of life for its people.</p>
<p>Among the key stakeholders, SICC contributes to the strong social and economic framework by being strategic and innovative. Mills explained that over the years, the organization has served both local and multinational corporations, positioning it as a “Singaporean chamber with a global perspective”.</p>
<p>Currently, SICC has partnered with the Singaporean American School. The collaboration aims to benefit industries with a special focus on the education sector. </p>',
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'id' => '545677',
'title' => 'Toyota makes big move to advanced tech and clean energy solutions',
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'description' => 'Toyota Ventures, the early-stage venture capital arm of Japanese car giant Toyota, announced plans to invest $300 million in startups focusing on advanced technology and clean energy projects, boosting its capital asset commitment to over $800 million. ',
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'content' => '<p><strong>Toyota Ventures</strong>, the early-stage venture capital arm of Japanese car giant Toyota, announced plans to invest $300 million in startups focusing on advanced technology and clean energy projects, boosting its capital asset commitment to over $800 million. </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-WK1-Toyota.jpg" alt="" />
<figcaption class="image-caption">Toyota Ventures Founder and General Partner Jim Adler (Photo credit: Toyota USA Newsroom)</figcaption>
</figure>
<p>The investment will be split evenly between two global funds: Toyota Ventures Frontier Fund II (TVFF II) led by veteran angel investor<strong> David Sokolic</strong> and Toyota Ventures Climate Fund II (TVCF II) headed by <strong>Partner Lisa Coca</strong>.</p>
<p>Funds from TVFF II will be used to support international startups focused on emerging technologies such as AI, mobility robotics, cloud services, and quantum computing. It is expected to diversify the portfolio range of its predecessor, the initial TVFF, which invested in organizations such as satellite service operator Starfish Space, biosensor producer Scentian Bio, and quantum computing software developer Haiqu.</p>
<p>Meanwhile, TVCF II will focus on startups that develop smart, scalable, and sustainable clean energy solutions to combat climate change. Like its predecessor in 2021, TVFC II will invest in diverse solutions ranging from renewable energy, energy storage, and hydrogen, building on a portfolio that includes green hydrogen producer Ecolectro, carbon capture and removal service provider Air Company, and energy storage and battery producer e-Zinc and AM Batteries.</p>
<p>Emphasizing the importance of these investments,<strong> Toyota Ventures Founder and General Partner Jim Adler </strong>said, “With seismic breakthroughs in generative AI, e-fuels, space commercialization, carbon capture, and synthetic biology, it’s a crucial time to be investing for Toyota.”</p>
<p>For <strong>Gill Pratt</strong>, chief scientist of Toyota Motor Corporation, CEO of Toyota Research Institute (TRI), and board member at Toyota Ventures, the company, through these funds, will work closely with innovators to solve the world’s biggest challenges.</p>
<p>“These new funds underscore our dedication to supporting entrepreneurs who are pushing the boundaries of what’s possible,” said Pratt.</p>
<p>Since its inception in 2017, Toyota Ventures has advanced Toyota's mobility transformation efforts by investing in more than 75 early-stage startups in diverse industries ranging from artificial intelligence to hydrogen solutions.</p>
<p>“We are explorers. Our role is to understand technology trends and embrace the next generation of disruptive innovation in the long term,” Adler added.</p>',
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'description' => 'Microsoft announced it will invest $2.9 billion in Japan's cloud computing and AI infrastructure over the next two years. It will be the largest investment by the tech giant, which has enjoyed steady growth in the Japanese market for over 46 years.',
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'content' => '<p>Microsoft announced it will invest $2.9 billion in Japan’s cloud computing and AI infrastructure over the next two years. It will be the largest investment by the tech giant, which has enjoyed steady growth in the Japanese market for over 46 years.</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-1-Microsoft.jpg" alt="" />
<figcaption class="image-caption">(Left to right) Japanese Prime Minister Fumio Kishida, Microsoft Vice Chair and President Brad Smith, U.S. Chamber of Commerce President and CEO Suzanne P. Clark, U.S. Ambassador to Japan Rahm Emanuel, and Microsoft Japan President Miki Tsusaka (Photo credit: Microsoft News)</figcaption>
</figure>
<p>The investment in Japan’s tech industry is expected to benefit at least 3 million Japanese through upskilling and new full-time and part-time jobs.</p>
<p>This new investment also builds on Microsoft’s support for the Generative AI Accelerator Challenge (GENIAC), a program led by Japan’s Ministry of Economy, Trade and Industry that helps innovative startups and established enterprises develop foundation models as a core technology of generative AI in the country.</p>
<p>As part of its investment, Microsoft also plans to work with Japan’s Cabinet Secretariat to strengthen cybersecurity resilience under its updated National Security Strategy. </p>
<p><strong>Japanese Prime Minister Fumio Kishida</strong> has expressed full support for Microsoft’s initiatives.</p>
<p>“As economic activities in the digital space increase, it is important for the Japanese industry as a whole to work with global companies like Microsoft that are equipped with a set of digital infrastructure. We appreciate Microsoft’s announcement of its new investment in Japan,” Kishida said.</p>
<p>“Microsoft has made significant contributions to the social implementation of generative AI in Japan through various initiatives, and we look forward to further collaboration. We also look forward to deepening our cooperation in the field of cybersecurity,” the prime minister added.</p>
<p>Meanwhile, <strong>Microsoft Japan President Miki Tsusaka</strong> said, “We are honored to contribute to Japan and its future with our largest investment to date, technology and knowledge. In collaboration with our partners, Microsoft Japan is fully committed to supporting the people and organizations of Japan to solve social problems and achieve more.”</p>',
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'id' => '545679',
'title' => 'Kishida urges American tech giants to increase investments in Japan',
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'description' => 'During an official visit to the United States in April, Japanese Prime Minister Fumio Kishida called for stronger bilateral economic relations through increased investments in Japan's semiconductor, artificial intelligence, and quantum computing sectors, stressing that it will result in reciprocal investments from his country.',
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'content' => '<p>During an official visit to the United States in April, <strong>Japanese Prime Minister Fumio Kishida </strong>called for stronger bilateral economic relations through increased investments in Japan’s semiconductor, artificial intelligence, and quantum computing sectors, stressing that it will result in reciprocal investments from his country.</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-1-Japan-Trade.jpg" alt="" />
<figcaption class="image-caption">Japanese Prime Minister Fumio Kishida and U.S. President Joe Biden (Photo credit: Reuters)</figcaption>
</figure>
<p>“I want to make this year a period when Japan can completely exit the mindset of deflation and cost cutting,” said Kishida, who emphasized his government’s commitment to propel the country towards the next economic stage.</p>
<p>Meanwhile, <strong>U.S. President Joe Biden </strong>welcomed the prime minister’s comments as the two leaders celebrated the deep and historic ties between their countries.</p>
<p>“We very much welcome U.S. investments in Japan to foster collaboration on vital emerging technologies,” said Kishida, who believes his country will benefit from American expertise and resources in critical technological domains.</p>
<p>During the visit, Kishida also met with various American business leaders including executives from IBM, Pfizer, Boeing, Micron Technology, and Western Digital.</p>
<p>Stressing that Japan has remained the largest investor in the United States and has generated more than 1 million jobs in the country, Kishida also cited the collaboration between IBM and Japan's Rapidus in advancing logic chip production.</p>
<p>Kishida said Japan was on its way to economic growth, mentioning the central bank's recent interest rate hike and record share prices.</p>',
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'title' => 'Why invest in Bangladesh? A.S. & Associates gives the answers',
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'description' => 'In terms of foreign direct investment (FDI), Bangladesh is attracting more attention from abroad thanks to substantial incentives and huge improvements in the business landscape. Full-service law firm A.S. & Associates has guided many international investors through the complexities of doing business in Bangladesh.',
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'content' => '<p>In terms of foreign direct investment (FDI), Bangladesh is attracting more attention from abroad thanks to substantial incentives and huge improvements in the business landscape. Full-service law firm <strong>A.S. & Associates</strong> has guided many international investors through the complexities of doing business in Bangladesh.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-11-BANGLA-AS-Associates.jpg" alt="" />
<figcaption class="image-caption">A.S. & Associate Partner, and CEO Ferdaus Rahman</figcaption>
</figure>
<p>Among the most enticing aspects for foreign investors is a 10-year tax holiday offered by the government. Under this scheme, industrial undertakings established between July 2019 and June 2024 in certain districts will enjoy a 90% tax exemption for the first two years, which will taper gradually down to 10% by the 10th year.</p>
<p>According to a survey conducted by the<strong> Japan External Trade Organization</strong>, the attraction of Bangladesh for Japanese companies is hard to resist. Around 42% of Japanese companies operating in Bangladesh have expressed plans to expand their business over the next two years, driven by mainly by affordable labor and high profitability.</p>
<p>The same survey by JETRO also said approximately 70% of these companies intend to hire more local workers.</p>
<p>“(Bangladesh) is a winning combination. We have high connectivity, a competitive market, a business-friendly environment, tax breaks, double taxation treaties, modern legislation, and a competitive cost structure that can yield the best returns,” said <strong>A.S. & Associates Partner and CEO Ferdaus Rahman.</strong></p>
<p>“We have an industrious and competitive workforce. The people are well-educated, highly adaptive, and industrious, and they come with the lowest wages and salaries in the region. About 57.3% of the population is under 25, providing (investors with) a young group for recruitment,” Rahman added.</p>',
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'title' => 'Should financial literacy training be exclusive?',
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'description' => 'In the corporate world, outstanding personnel who are eyed for managerial positions usually go through training in financial literacy ahead of promotion. For their colleagues who show little potential, financial literacy is considered an unneeded skill set.',
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'content' => '<p>In the corporate world, outstanding personnel who are eyed for managerial positions usually go through training in financial literacy ahead of promotion. For their colleagues who show little potential, financial literacy is considered an unneeded skill set.</p>
<p>But times are changing. A growing number of companies have realized that financial literacy is for everyone and will ultimately benefit the entire organization.</p>
<p><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-11-GP-Financial-Literacy.jpg" alt="" /></p>
<p>According to Forbes magazine, financial literacy refers to one’s grasp and effective use of various financial skills, like budgeting, saving, debt management and retirement planning. It helps people make more informed decisions, which translates to financial stability and better quality of life, both for themselves and for the company.</p>
<p>When working parents learn how to manage the company’s finances through training, they apply those new skills in making their family’s budget. In an ideal scenario, there will be a seamless application of financial skills in the workplace and at home.</p>
<p>When employees make wrong decisions in budgeting and resource management, they will avoid making the same mistakes when handling their personal finances. Or vice versa. In managing their credit card debt, employees gain a valuable lesson in prioritizing expenses and in debt-to-income ratios.</p>
<p>When every employee is trained in financial literacy, a company may be left with a huge pool of number crushers and future managers. And that isn’t necessarily a bad thing.</p>',
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'title' => '3 AI tools to raise your financial management game',
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'description' => 'In today's cutthroat world of business, AI has ceased being a luxury; it is now a necessity to stay competitive.
GMI POST selects a few of the best AI-powered financial apps that have emerged this year and can help improve your workflow and simplify financial management for your business. ',
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'content' => '<p>In today’s cutthroat world of business, AI has ceased being a luxury; it is now a necessity to stay competitive. Yet, many small and medium-scale businesses still rely on familiar software, like Excel and Google Sheets for their financial analysis. Meanwhile, the rapid proliferation of AI-powered finance tools has revolutionized how many companies manage their finances, providing them with unparalleled efficiency and accuracy</p>
<p>GMI POST selects a few of the best AI-powered financial apps that have emerged this year and can help improve your workflow and simplify financial management for your business.</p>
<p> </p>
<p><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-11-GL-AI-Tools-for-Financial-Literacy.jpg" alt="" /></p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>1. Receipt Cat: Income and expense tracking for small businesses</strong></span></p>
<p> </p>
<p>Useful for small businesses and freelancers, Receipt Cat is a game-changer. This tool makes receipt management easy by using OCR (optical character recognition) to effortlessly convert paper receipts into digital data. It automatically captures essential details like merchant name, amount, tax, date, and method of payment, organizing them into customizable categories.</p>
<p>With its user-friendly interface and comprehensive dashboard, you can easily monitor income and expenses. The information is organized through a simple drag-and-drop interface and is presented in a comprehensive dashboard. Users can also easily compare expenses against income and measure business performance with one click.</p>
<p>Receipt Cat also goes beyond basic receipt scanning. It offers features like secure document storage, powered by 256-bit end-to-end encryption.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>2. Booke AI: Automated AI bookkeeping service</strong></span></p>
<p> </p>
<p>Booke AI takes bookkeeping to the next level with its AI-driven automation. Users can now say goodbye to manual transaction entry. The tool can extract invoice information from various sources, irrespective of language and currency, using OCR AI and GPT-4 technology. It helps users manage uncategorized transactions and provides actionable insights at the end of every month that give business owners a comprehensive view of company finances.</p>
<p>Transactions are categorized at five times the speed based on historical reconciliation and through analysis of client comments on transactions, with any issues flagged for review.</p>
<p>Booke AI also simplifies client communication and seamlessly integrates with existing systems like Excel and QuickBooks, ensuring hassle-free syncing of transactions with just one click. Its constant evolution and adaptability make it a must-have for businesses seeking accurate and efficient bookkeeping solutions.</p>
<p>The application is evolving constantly, enabling it to adapt to every organization’s unique document templates and ensuring consistent enhancements of the accuracy of the data captured.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>3. Domo: User-friendly dashboards for essential business insights</strong></span></p>
<p> </p>
<p>Encouraging users to move away from basic charts and graphs, Domo promises to fuel data experiences through AI-powered unified dashboards that integrate data in real-time from various diverse sources.</p>
<p>Utilizing low-code and pro-code BI (business intelligence) and analytical applications, this tool generates intuitive dashboards that help organizations understand precise impact areas and financial pain points. </p>
<p>Domo makes financial reporting easier. The automated reporting system, based on centralized data, updates in real-time with every update sent to key stakeholders and enables collaboration.</p>
<p>Domo’s focus on simplicity and accessibility makes it an indispensable tool for businesses looking to make informed decisions based on actionable insights.</p>',
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'title' => 'Dai-ichi Life invests $255M in Canyon Partners',
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'description' => 'Giving its clear vote of confidence in the U.S. credit market, Dai-ichi Life, Japan's third-largest life insurance company, has announced a plan to invest $255 million in the credit fund managed by Canyon Partners, which oversees a wide variety of assets valued at $24 billion from seven office across the world.',
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'content' => '<p>Giving its clear vote of confidence in the U.S. credit market, <strong>Dai-ichi Life</strong>, Japan’s third-largest life insurance company, has announced a plan to invest $255 million in the credit fund managed by <strong>Canyon Partners</strong>, which oversees a wide variety of assets valued at $24 billion from seven office across the world.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-WK9-Daiichi-LIfe.jpg" alt="" />
<figcaption class="image-caption">Dai-ichi Life is Japan's third-largest life insurance company.</figcaption>
</figure>
<p>Announced in March 2024, the decision comes amid uncertainty and volatility in the global economy and highlights Dai-ichi Life’s efforts to diversify its investment portfolio and identify sources of stable returns.</p>
<p>“This investment aligns with our long-term investment strategy to pursue attractive risk-adjusted returns for our policyholders while maintaining a diversified portfolio,” said <strong>Dai-ichi Life President and CEO Masahiro Hashimoto, </strong>who is committed to delivering value to its policyholders through astute investment decisions.</p>
<p>Canyon Partners, founded in 1990, has established itself as a prominent player in the alternative investment space, managing assets across various strategies including credit, distressed debt, and real estate. The firm's track record of delivering consistent returns and managing risk effectively has garnered trust and confidence from institutional investors worldwide.</p>
<p>Dai-ichi Life's investment in Canyon Partners’ U.S. credit fund happens as a growing number of Japanese institutions venture beyond the domestic market in search of investment opportunities.</p>
<p>This move by Dai-ichi Life reflects a broader strategy among Japanese institutional investors to diversify their portfolios and seek higher yields in international markets.</p>
<p>By tapping into Canyon Partners' expertise and the resilience of the U.S. credit market, Dai-ichi Life hopes to deliver substantial returns to its shareholders.</p>',
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'description' => 'The $14.9 billion acquisition of U.S. Steel by Japan's Nippon Steel should be completed by the end of September this year, according to a report by Nikkei Asia. The deal will provide Nippon Steel, the fourth-largest in the world, with an additional capacity of 100 million metric tons of global crude steel and boost its production in the United States. ',
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'content' => '<p>The $14.9 billion acquisition of <strong>U.S. Steel</strong> by Japan’s <strong>Nippon Steel </strong>should be completed by the end of September this year, according to a report by Nikkei Asia. The deal will provide Nippon Steel, the fourth-largest in the world, with an additional capacity of 100 million metric tons of global crude steel and boost its production in the United States.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-WK9-Nippon-Steel.jpg" alt="" />
<figcaption class="image-caption">Nippon Steel Executive Vice President Takahiro Mori</figcaption>
</figure>
<p>To ensure the deal closes soon, Nippon Steel has intensified talks with key stakeholders. At the start of the year, <strong>Executive Vice President Takahiro Mori </strong>met with various members of the U.S. Congress members to “discuss the benefits of this deal for all stakeholders,” the report said.</p>
<p>The Japanese steelmaker, in a press statement, said it was the right partner to ensure the long-term success of the Pennsylvania-based company. It added that the resulting synergy will benefit U.S. Steel, its union workers, the national steel industry, and national security.</p>
<p>“Nippon Steel will advance American priorities by driving greater quality and competitiveness for customers in critical industries that rely on American steel. Our aim is to bolster and grow U.S Steel in the U.S. market in a way that prioritizes its talented employees,” it also said.</p>
<p>Despite Nippon Steel’s optimism about the benefits of the acquisition, U.S. President Joe Biden has expressed his reservations over the deal. But, Mori remains confident that the purchase will be approved in the end.</p>
<p>“I don’t think they (American government) can block a project that is meaningful to both sides and beneficial to related industries and both counties simply because of political considerations,” he said.</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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<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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<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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'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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'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>
<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-CAMB-Li-Lee-Holdings.jpg" alt="" />
<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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<p>Today, NUH has over 1,200 beds and serves more than 1 million patients a year with over 50 medical, surgical, and dental specialties. NUH is the only public and not-for-profit hospital in Singapore that provides care for adults, women and children under one roof, including the country’s only pediatric kidney and liver transplant program.</p>',
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'description' => 'With a blend of natural, cultural, and historical wonders, among them the 900-year-old Angkor Wat, a UNESCO World Heritage Site, Cambodia offers well-preserved archeological sites, a vibrant urban scene, and relaxing tropical resorts.',
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'content' => '<p>Cambodia, also known popularly as the Kingdom of Wonder, is regarded by the travel industry as among Southeast Asia’s most popular tourism destinations. With a blend of natural, cultural, and historical wonders, among them the 900-year-old Angkor Wat, a UNESCO World Heritage Site, the country offers well-preserved archeological sites, a vibrant urban scene, and relaxing tropical resorts.</p>
<figure class="image-container floated-right" style="float: right;"><img class="align-right" src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-1-CAMB-Tourism-Minister-Sok-Soken.jpg" alt="" />
<figcaption class="image-caption">Tourism Minister Sok Soken</figcaption>
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<p>The kingdom continues to attract more travelers from around the world. In 2023, Cambodia saw a 156% increase in tourism arrivals from the previous year, making it one of Asia's top most-visited countries. This growth in the country’s tourism sector is predicted to become a major pillar of Cambodia’s economic growth, The Asian Development Bank projects Cambodia's economy to grow from 5.8% in 2024 to 6.0% in 2025.</p>
<p>Behind this success story is Cambodia’s Ministry of Tourism, which has launched promotional campaigns and innovative strategies that target international visitors. Following the successful campaigns in the previous years, the government announced its newest initiative, Visit Siem Reap 2024.</p>
<p>Anchored around the world-famous Angkor Archaeological Park, the campaign will showcase the splendor of its home Siem Reap, and further elevate the ancient site into a must-visit destination on the global tourism map.</p>
<p>“The Visit Siem Reap 2024 campaign, together with our other activities, will help us initiate more tourism activities with priority markets. There will be a lot of cultural activities, and interaction at the government, private, and business sector levels. With the coordination of the Ministry of Tourism, all the engagement activities will be on the horizon,” said <strong>Tourism Minister Sok Soken </strong>during the launch held at Angkor Wat.</p>
<p>Echoing his sentiment, <strong>Prime Minister Hun Maten</strong> pledged his support for the campaign, which envisions annual events in Siem Reap province and the transformation of the local Phnom Kulen National Park into “an attractive destination for cultural, natural, adventure and religious tourism.”</p>
<p><strong>Thourn Sinan, chairman of the Pacific Asia Travel Association Cambodia Chapter</strong>, also outlined a strategic roadmap for the success of the Visit Siem Reap 2024 campaign, which includes developing an evocative brand identity that highlights the unique cultural experiences of Siem Reap, launching a multilingual website and social media channels, partnering with influencers in key markets, and distributing promotional materials globally through airline partnerships and travel agencies.</p>
<p>“By comprehensively implementing these strategies across marketing, experiences, and sustainability, Siem Reap aims to become Southeast Asia’s most vibrant cultural destination, protecting heritage and inspiring visitors through authentic encounters with Khmer civilization,” he said.</p>',
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'content' => '<p>Fujifilm announced an additional $1.2 billion investment this month to expand its end-to-end bio-manufacturing facility in Holly Springs, North Carolina. The expansion brings Fujifilm’s total investment in its North Carolina facility to over $3.2 billion and is projected to create 680 new jobs by 2031. The fresh investment also makes it the largest facility of its kind in North 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-2-Fujifilm.jpg" alt="" />
<figcaption class="image-caption">Fujifilm Corporation President and CEO Teiichi Goto</figcaption>
</figure>
<p>“This investment is an important step to further accelerate the growth of our biopharmaceutical CDMO (contract development and manufacturing organization) business,” said <strong>Fujifilm Corp. President and CEO Teiichi Goto</strong>.</p>
<p>“Fujifilm is committed to advancing a healthier society, and we are proud that our people, and this site in Holly Springs will play a vital role in supporting our partners in producing critical therapies to serve the needs of patients,” Goto added.</p>
<p>According to Fujifilm, the investment will also support its initiatives that contribute to net-zero operations.</p>
<p>Meanwhile, <strong>Economic Development Partnership of North Carolina CEO Christopher Chung</strong> expressed support for the project.</p>
<p>“North Carolina is known worldwide as a biotechnology hub thanks to the continued investment from companies like Fujifilm Diosynth. Our robust infrastructure, top-notch engineering talent in the state, and partnerships with entities like NC State University and the North Carolina Biotechnology Center, provide support for innovative companies like FUJIFILM to continue to grow.”</p>',
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'title' => 'How one New Jersey city became an investment magnet',
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'description' => 'In the heart of New Jersey lies the industrial city of Elizabeth, a burgeoning metropolis under the leadership of Mayor James Christian Bollwage. Since assuming office in 1992, Bollwage has orchestrated a strategic transformation to steer the city toward economic prosperity.',
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'content' => '<p>In the heart of New Jersey lies the industrial city of Elizabeth, a burgeoning metropolis under the leadership of<strong> Mayor James Christian Bollwage</strong>. Since assuming office in 1992, Bollwage has orchestrated a strategic transformation to steer the city toward economic prosperity.</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-1-NYNJ-Elizabeth-Ciyy-Mayor-Christian-Bollwage.jpg" alt="" />
<figcaption class="image-caption">Elizabeth Mayor James Christian Bollwage</figcaption>
</figure>
<p>Bollwage's vision transcends conventional municipal governance as it embodies a commitment to fostering sustainable growth and nurturing a vibrant economy. <br /><br />"We must not only adapt to change but drive it ourselves," Bollwage told GMI POST.</p>
<p>Under his stewardship, Elizabeth has emerged as an example of opportunity, attracting both domestic investors and international ventures seeking a strategic foothold in the American market, especially with Port Elizabeth.</p>
<p>Central to Bollwage's agenda is the cultivation of a robust service economy tailored to meet the evolving needs of the current marketplace. Embracing innovation as the cornerstone of progress, he has championed initiatives aimed at harnessing the city's human capital and technological infrastructure,</p>
<p>Reflecting on his transformative policies, Bollwage said, “Economic revitalization is not a solitary endeavor; it is a collaborative endeavor that requires the concerted efforts of government, business, and community stakeholders.”</p>
<p>The mayor stressed that he would foster a climate of cooperation and synergy wherein public-private partnerships flourish and entrepreneurial spirit thrives.</p>
<p>Through strategic investments in infrastructure, education, and workforce development, Bollwage has laid the foundation for sustained prosperity, ensuring that Elizabeth remains an attractive destination for investment and innovation.</p>
<p>“In the city of Elizabeth, we have a slogan: It all starts here. This could refer to the history of our city, but it also could refer to the investment or the future investment in our city. This is the entry point for the goods that come from all around the world. I think that the entrepreneurs and corporations would find our city to be a very welcoming place,” Bollwage said.</p>',
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'title' => 'Visit Siem Reap 2024: Cambodia's next ace in tourism',
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'content' => '<p>Cambodia, also known popularly as the Kingdom of Wonder, is regarded by the travel industry as among Southeast Asia’s most popular tourism destinations. With a blend of natural, cultural, and historical wonders, among them the 900-year-old Angkor Wat, a UNESCO World Heritage Site, the country offers well-preserved archeological sites, a vibrant urban scene, and relaxing tropical resorts.</p>
<figure class="image-container floated-right" style="float: right;"><img class="align-right" src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-1-CAMB-Tourism-Minister-Sok-Soken.jpg" alt="" />
<figcaption class="image-caption">Tourism Minister Sok Soken</figcaption>
</figure>
<p>The kingdom continues to attract more travelers from around the world. In 2023, Cambodia saw a 156% increase in tourism arrivals from the previous year, making it one of Asia's top most-visited countries. This growth in the country’s tourism sector is predicted to become a major pillar of Cambodia’s economic growth, The Asian Development Bank projects Cambodia's economy to grow from 5.8% in 2024 to 6.0% in 2025.</p>
<p>Behind this success story is Cambodia’s Ministry of Tourism, which has launched promotional campaigns and innovative strategies that target international visitors. Following the successful campaigns in the previous years, the government announced its newest initiative, Visit Siem Reap 2024.</p>
<p>Anchored around the world-famous Angkor Archaeological Park, the campaign will showcase the splendor of its home Siem Reap, and further elevate the ancient site into a must-visit destination on the global tourism map.</p>
<p>“The Visit Siem Reap 2024 campaign, together with our other activities, will help us initiate more tourism activities with priority markets. There will be a lot of cultural activities, and interaction at the government, private, and business sector levels. With the coordination of the Ministry of Tourism, all the engagement activities will be on the horizon,” said <strong>Tourism Minister Sok Soken </strong>during the launch held at Angkor Wat.</p>
<p>Echoing his sentiment, <strong>Prime Minister Hun Maten</strong> pledged his support for the campaign, which envisions annual events in Siem Reap province and the transformation of the local Phnom Kulen National Park into “an attractive destination for cultural, natural, adventure and religious tourism.”</p>
<p><strong>Thourn Sinan, chairman of the Pacific Asia Travel Association Cambodia Chapter</strong>, also outlined a strategic roadmap for the success of the Visit Siem Reap 2024 campaign, which includes developing an evocative brand identity that highlights the unique cultural experiences of Siem Reap, launching a multilingual website and social media channels, partnering with influencers in key markets, and distributing promotional materials globally through airline partnerships and travel agencies.</p>
<p>“By comprehensively implementing these strategies across marketing, experiences, and sustainability, Siem Reap aims to become Southeast Asia’s most vibrant cultural destination, protecting heritage and inspiring visitors through authentic encounters with Khmer civilization,” he said.</p>',
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'description' => 'It's no accident the world's most recognizable brands are present in Singapore. With a total land area of only 734.3 sq. Km., the island state is dubbed The Little Red Dot. But, what the country lacks in size, it makes up for in economic dynamism. ',
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'content' => '<p>It’s no accident the world’s most recognizable brands are present in Singapore. With a total land area of only 734.3 sq. Km., the island state is dubbed The Little Red Dot. But, what the country lacks in size, it makes up for in economic dynamism.</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-1-SG-SICC-CEO-Victor-Mills.jpg" alt="" />
<figcaption class="image-caption">Singapore International Chamber of Commerce CEO Victor Mills</figcaption>
</figure>
<p>As of 2023, Singapore ranked 4th among 64 countries in the World Competitive Index, surpassed only by Denmark, Ireland, and Switzerland.</p>
<p>In an interview with GMI POST, <strong>Singapore International Chamber of Commerce CEO Victor Mills</strong> explained that because of a scarcity of natural resources, Singapore’s private, public, and non-government sectors have had to collaborate closely to achieve its economic strength.</p>
<p>“Industrial relations are no longer adversarial like they were in the 50’s. They’re consensual because everybody realizes that we’re all in the same boat. The answer is to work together. Similarly, there is racial and religious harmony. We’re a multiracial society,” Mills said.</p>
<p>Harmony. Intention. Partnership.</p>
<p>Those three words are simple enough to be appreciated by elementary school children. Yet, the same words characterize Singapore’s economic policies, world-class infrastructure, highly skilled workforce, and leadership in innovation.</p>
<p>By adhering to those core values, Singaporeans have entered into a social contract that secures a good quality of life for its people.</p>
<p>Among the key stakeholders, SICC contributes to the strong social and economic framework by being strategic and innovative. Mills explained that over the years, the organization has served both local and multinational corporations, positioning it as a “Singaporean chamber with a global perspective”.</p>
<p>Currently, SICC has partnered with the Singaporean American School. The collaboration aims to benefit industries with a special focus on the education sector. </p>',
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'title' => 'Toyota makes big move to advanced tech and clean energy solutions',
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'description' => 'Toyota Ventures, the early-stage venture capital arm of Japanese car giant Toyota, announced plans to invest $300 million in startups focusing on advanced technology and clean energy projects, boosting its capital asset commitment to over $800 million. ',
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'content' => '<p><strong>Toyota Ventures</strong>, the early-stage venture capital arm of Japanese car giant Toyota, announced plans to invest $300 million in startups focusing on advanced technology and clean energy projects, boosting its capital asset commitment to over $800 million. </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-WK1-Toyota.jpg" alt="" />
<figcaption class="image-caption">Toyota Ventures Founder and General Partner Jim Adler (Photo credit: Toyota USA Newsroom)</figcaption>
</figure>
<p>The investment will be split evenly between two global funds: Toyota Ventures Frontier Fund II (TVFF II) led by veteran angel investor<strong> David Sokolic</strong> and Toyota Ventures Climate Fund II (TVCF II) headed by <strong>Partner Lisa Coca</strong>.</p>
<p>Funds from TVFF II will be used to support international startups focused on emerging technologies such as AI, mobility robotics, cloud services, and quantum computing. It is expected to diversify the portfolio range of its predecessor, the initial TVFF, which invested in organizations such as satellite service operator Starfish Space, biosensor producer Scentian Bio, and quantum computing software developer Haiqu.</p>
<p>Meanwhile, TVCF II will focus on startups that develop smart, scalable, and sustainable clean energy solutions to combat climate change. Like its predecessor in 2021, TVFC II will invest in diverse solutions ranging from renewable energy, energy storage, and hydrogen, building on a portfolio that includes green hydrogen producer Ecolectro, carbon capture and removal service provider Air Company, and energy storage and battery producer e-Zinc and AM Batteries.</p>
<p>Emphasizing the importance of these investments,<strong> Toyota Ventures Founder and General Partner Jim Adler </strong>said, “With seismic breakthroughs in generative AI, e-fuels, space commercialization, carbon capture, and synthetic biology, it’s a crucial time to be investing for Toyota.”</p>
<p>For <strong>Gill Pratt</strong>, chief scientist of Toyota Motor Corporation, CEO of Toyota Research Institute (TRI), and board member at Toyota Ventures, the company, through these funds, will work closely with innovators to solve the world’s biggest challenges.</p>
<p>“These new funds underscore our dedication to supporting entrepreneurs who are pushing the boundaries of what’s possible,” said Pratt.</p>
<p>Since its inception in 2017, Toyota Ventures has advanced Toyota's mobility transformation efforts by investing in more than 75 early-stage startups in diverse industries ranging from artificial intelligence to hydrogen solutions.</p>
<p>“We are explorers. Our role is to understand technology trends and embrace the next generation of disruptive innovation in the long term,” Adler added.</p>',
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'description' => 'Microsoft announced it will invest $2.9 billion in Japan's cloud computing and AI infrastructure over the next two years. It will be the largest investment by the tech giant, which has enjoyed steady growth in the Japanese market for over 46 years.',
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'content' => '<p>Microsoft announced it will invest $2.9 billion in Japan’s cloud computing and AI infrastructure over the next two years. It will be the largest investment by the tech giant, which has enjoyed steady growth in the Japanese market for over 46 years.</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-1-Microsoft.jpg" alt="" />
<figcaption class="image-caption">(Left to right) Japanese Prime Minister Fumio Kishida, Microsoft Vice Chair and President Brad Smith, U.S. Chamber of Commerce President and CEO Suzanne P. Clark, U.S. Ambassador to Japan Rahm Emanuel, and Microsoft Japan President Miki Tsusaka (Photo credit: Microsoft News)</figcaption>
</figure>
<p>The investment in Japan’s tech industry is expected to benefit at least 3 million Japanese through upskilling and new full-time and part-time jobs.</p>
<p>This new investment also builds on Microsoft’s support for the Generative AI Accelerator Challenge (GENIAC), a program led by Japan’s Ministry of Economy, Trade and Industry that helps innovative startups and established enterprises develop foundation models as a core technology of generative AI in the country.</p>
<p>As part of its investment, Microsoft also plans to work with Japan’s Cabinet Secretariat to strengthen cybersecurity resilience under its updated National Security Strategy. </p>
<p><strong>Japanese Prime Minister Fumio Kishida</strong> has expressed full support for Microsoft’s initiatives.</p>
<p>“As economic activities in the digital space increase, it is important for the Japanese industry as a whole to work with global companies like Microsoft that are equipped with a set of digital infrastructure. We appreciate Microsoft’s announcement of its new investment in Japan,” Kishida said.</p>
<p>“Microsoft has made significant contributions to the social implementation of generative AI in Japan through various initiatives, and we look forward to further collaboration. We also look forward to deepening our cooperation in the field of cybersecurity,” the prime minister added.</p>
<p>Meanwhile, <strong>Microsoft Japan President Miki Tsusaka</strong> said, “We are honored to contribute to Japan and its future with our largest investment to date, technology and knowledge. In collaboration with our partners, Microsoft Japan is fully committed to supporting the people and organizations of Japan to solve social problems and achieve more.”</p>',
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'title' => 'Kishida urges American tech giants to increase investments in Japan',
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'description' => 'During an official visit to the United States in April, Japanese Prime Minister Fumio Kishida called for stronger bilateral economic relations through increased investments in Japan's semiconductor, artificial intelligence, and quantum computing sectors, stressing that it will result in reciprocal investments from his country.',
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'content' => '<p>During an official visit to the United States in April, <strong>Japanese Prime Minister Fumio Kishida </strong>called for stronger bilateral economic relations through increased investments in Japan’s semiconductor, artificial intelligence, and quantum computing sectors, stressing that it will result in reciprocal investments from his country.</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-1-Japan-Trade.jpg" alt="" />
<figcaption class="image-caption">Japanese Prime Minister Fumio Kishida and U.S. President Joe Biden (Photo credit: Reuters)</figcaption>
</figure>
<p>“I want to make this year a period when Japan can completely exit the mindset of deflation and cost cutting,” said Kishida, who emphasized his government’s commitment to propel the country towards the next economic stage.</p>
<p>Meanwhile, <strong>U.S. President Joe Biden </strong>welcomed the prime minister’s comments as the two leaders celebrated the deep and historic ties between their countries.</p>
<p>“We very much welcome U.S. investments in Japan to foster collaboration on vital emerging technologies,” said Kishida, who believes his country will benefit from American expertise and resources in critical technological domains.</p>
<p>During the visit, Kishida also met with various American business leaders including executives from IBM, Pfizer, Boeing, Micron Technology, and Western Digital.</p>
<p>Stressing that Japan has remained the largest investor in the United States and has generated more than 1 million jobs in the country, Kishida also cited the collaboration between IBM and Japan's Rapidus in advancing logic chip production.</p>
<p>Kishida said Japan was on its way to economic growth, mentioning the central bank's recent interest rate hike and record share prices.</p>',
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'title' => 'Why invest in Bangladesh? A.S. & Associates gives the answers',
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'description' => 'In terms of foreign direct investment (FDI), Bangladesh is attracting more attention from abroad thanks to substantial incentives and huge improvements in the business landscape. Full-service law firm A.S. & Associates has guided many international investors through the complexities of doing business in Bangladesh.',
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'content' => '<p>In terms of foreign direct investment (FDI), Bangladesh is attracting more attention from abroad thanks to substantial incentives and huge improvements in the business landscape. Full-service law firm <strong>A.S. & Associates</strong> has guided many international investors through the complexities of doing business in Bangladesh.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-11-BANGLA-AS-Associates.jpg" alt="" />
<figcaption class="image-caption">A.S. & Associate Partner, and CEO Ferdaus Rahman</figcaption>
</figure>
<p>Among the most enticing aspects for foreign investors is a 10-year tax holiday offered by the government. Under this scheme, industrial undertakings established between July 2019 and June 2024 in certain districts will enjoy a 90% tax exemption for the first two years, which will taper gradually down to 10% by the 10th year.</p>
<p>According to a survey conducted by the<strong> Japan External Trade Organization</strong>, the attraction of Bangladesh for Japanese companies is hard to resist. Around 42% of Japanese companies operating in Bangladesh have expressed plans to expand their business over the next two years, driven by mainly by affordable labor and high profitability.</p>
<p>The same survey by JETRO also said approximately 70% of these companies intend to hire more local workers.</p>
<p>“(Bangladesh) is a winning combination. We have high connectivity, a competitive market, a business-friendly environment, tax breaks, double taxation treaties, modern legislation, and a competitive cost structure that can yield the best returns,” said <strong>A.S. & Associates Partner and CEO Ferdaus Rahman.</strong></p>
<p>“We have an industrious and competitive workforce. The people are well-educated, highly adaptive, and industrious, and they come with the lowest wages and salaries in the region. About 57.3% of the population is under 25, providing (investors with) a young group for recruitment,” Rahman added.</p>',
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'id' => '545670',
'title' => 'Should financial literacy training be exclusive?',
'description_old' => null,
'description' => 'In the corporate world, outstanding personnel who are eyed for managerial positions usually go through training in financial literacy ahead of promotion. For their colleagues who show little potential, financial literacy is considered an unneeded skill set.',
'credit_id' => '48',
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'content' => '<p>In the corporate world, outstanding personnel who are eyed for managerial positions usually go through training in financial literacy ahead of promotion. For their colleagues who show little potential, financial literacy is considered an unneeded skill set.</p>
<p>But times are changing. A growing number of companies have realized that financial literacy is for everyone and will ultimately benefit the entire organization.</p>
<p><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-11-GP-Financial-Literacy.jpg" alt="" /></p>
<p>According to Forbes magazine, financial literacy refers to one’s grasp and effective use of various financial skills, like budgeting, saving, debt management and retirement planning. It helps people make more informed decisions, which translates to financial stability and better quality of life, both for themselves and for the company.</p>
<p>When working parents learn how to manage the company’s finances through training, they apply those new skills in making their family’s budget. In an ideal scenario, there will be a seamless application of financial skills in the workplace and at home.</p>
<p>When employees make wrong decisions in budgeting and resource management, they will avoid making the same mistakes when handling their personal finances. Or vice versa. In managing their credit card debt, employees gain a valuable lesson in prioritizing expenses and in debt-to-income ratios.</p>
<p>When every employee is trained in financial literacy, a company may be left with a huge pool of number crushers and future managers. And that isn’t necessarily a bad thing.</p>',
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'title' => '3 AI tools to raise your financial management game',
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'description' => 'In today's cutthroat world of business, AI has ceased being a luxury; it is now a necessity to stay competitive.
GMI POST selects a few of the best AI-powered financial apps that have emerged this year and can help improve your workflow and simplify financial management for your business. ',
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'content' => '<p>In today’s cutthroat world of business, AI has ceased being a luxury; it is now a necessity to stay competitive. Yet, many small and medium-scale businesses still rely on familiar software, like Excel and Google Sheets for their financial analysis. Meanwhile, the rapid proliferation of AI-powered finance tools has revolutionized how many companies manage their finances, providing them with unparalleled efficiency and accuracy</p>
<p>GMI POST selects a few of the best AI-powered financial apps that have emerged this year and can help improve your workflow and simplify financial management for your business.</p>
<p> </p>
<p><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-ITL-WK-11-GL-AI-Tools-for-Financial-Literacy.jpg" alt="" /></p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>1. Receipt Cat: Income and expense tracking for small businesses</strong></span></p>
<p> </p>
<p>Useful for small businesses and freelancers, Receipt Cat is a game-changer. This tool makes receipt management easy by using OCR (optical character recognition) to effortlessly convert paper receipts into digital data. It automatically captures essential details like merchant name, amount, tax, date, and method of payment, organizing them into customizable categories.</p>
<p>With its user-friendly interface and comprehensive dashboard, you can easily monitor income and expenses. The information is organized through a simple drag-and-drop interface and is presented in a comprehensive dashboard. Users can also easily compare expenses against income and measure business performance with one click.</p>
<p>Receipt Cat also goes beyond basic receipt scanning. It offers features like secure document storage, powered by 256-bit end-to-end encryption.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>2. Booke AI: Automated AI bookkeeping service</strong></span></p>
<p> </p>
<p>Booke AI takes bookkeeping to the next level with its AI-driven automation. Users can now say goodbye to manual transaction entry. The tool can extract invoice information from various sources, irrespective of language and currency, using OCR AI and GPT-4 technology. It helps users manage uncategorized transactions and provides actionable insights at the end of every month that give business owners a comprehensive view of company finances.</p>
<p>Transactions are categorized at five times the speed based on historical reconciliation and through analysis of client comments on transactions, with any issues flagged for review.</p>
<p>Booke AI also simplifies client communication and seamlessly integrates with existing systems like Excel and QuickBooks, ensuring hassle-free syncing of transactions with just one click. Its constant evolution and adaptability make it a must-have for businesses seeking accurate and efficient bookkeeping solutions.</p>
<p>The application is evolving constantly, enabling it to adapt to every organization’s unique document templates and ensuring consistent enhancements of the accuracy of the data captured.</p>
<p> </p>
<p><span style="font-family: helvetica; font-size: 18pt;"><strong>3. Domo: User-friendly dashboards for essential business insights</strong></span></p>
<p> </p>
<p>Encouraging users to move away from basic charts and graphs, Domo promises to fuel data experiences through AI-powered unified dashboards that integrate data in real-time from various diverse sources.</p>
<p>Utilizing low-code and pro-code BI (business intelligence) and analytical applications, this tool generates intuitive dashboards that help organizations understand precise impact areas and financial pain points. </p>
<p>Domo makes financial reporting easier. The automated reporting system, based on centralized data, updates in real-time with every update sent to key stakeholders and enables collaboration.</p>
<p>Domo’s focus on simplicity and accessibility makes it an indispensable tool for businesses looking to make informed decisions based on actionable insights.</p>',
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'id' => '545666',
'title' => 'Dai-ichi Life invests $255M in Canyon Partners',
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'description' => 'Giving its clear vote of confidence in the U.S. credit market, Dai-ichi Life, Japan's third-largest life insurance company, has announced a plan to invest $255 million in the credit fund managed by Canyon Partners, which oversees a wide variety of assets valued at $24 billion from seven office across the world.',
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'content' => '<p>Giving its clear vote of confidence in the U.S. credit market, <strong>Dai-ichi Life</strong>, Japan’s third-largest life insurance company, has announced a plan to invest $255 million in the credit fund managed by <strong>Canyon Partners</strong>, which oversees a wide variety of assets valued at $24 billion from seven office across the world.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-WK9-Daiichi-LIfe.jpg" alt="" />
<figcaption class="image-caption">Dai-ichi Life is Japan's third-largest life insurance company.</figcaption>
</figure>
<p>Announced in March 2024, the decision comes amid uncertainty and volatility in the global economy and highlights Dai-ichi Life’s efforts to diversify its investment portfolio and identify sources of stable returns.</p>
<p>“This investment aligns with our long-term investment strategy to pursue attractive risk-adjusted returns for our policyholders while maintaining a diversified portfolio,” said <strong>Dai-ichi Life President and CEO Masahiro Hashimoto, </strong>who is committed to delivering value to its policyholders through astute investment decisions.</p>
<p>Canyon Partners, founded in 1990, has established itself as a prominent player in the alternative investment space, managing assets across various strategies including credit, distressed debt, and real estate. The firm's track record of delivering consistent returns and managing risk effectively has garnered trust and confidence from institutional investors worldwide.</p>
<p>Dai-ichi Life's investment in Canyon Partners’ U.S. credit fund happens as a growing number of Japanese institutions venture beyond the domestic market in search of investment opportunities.</p>
<p>This move by Dai-ichi Life reflects a broader strategy among Japanese institutional investors to diversify their portfolios and seek higher yields in international markets.</p>
<p>By tapping into Canyon Partners' expertise and the resilience of the U.S. credit market, Dai-ichi Life hopes to deliver substantial returns to its shareholders.</p>',
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'title' => 'Nippon Steel's acquisition of U.S Steel to be finalized by September 2024',
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'description' => 'The $14.9 billion acquisition of U.S. Steel by Japan's Nippon Steel should be completed by the end of September this year, according to a report by Nikkei Asia. The deal will provide Nippon Steel, the fourth-largest in the world, with an additional capacity of 100 million metric tons of global crude steel and boost its production in the United States. ',
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'content' => '<p>The $14.9 billion acquisition of <strong>U.S. Steel</strong> by Japan’s <strong>Nippon Steel </strong>should be completed by the end of September this year, according to a report by Nikkei Asia. The deal will provide Nippon Steel, the fourth-largest in the world, with an additional capacity of 100 million metric tons of global crude steel and boost its production in the United States.</p>
<figure class="image-container floated-right" style="float: right;"><img src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R1/2024-R1-US-Jap-WK9-Nippon-Steel.jpg" alt="" />
<figcaption class="image-caption">Nippon Steel Executive Vice President Takahiro Mori</figcaption>
</figure>
<p>To ensure the deal closes soon, Nippon Steel has intensified talks with key stakeholders. At the start of the year, <strong>Executive Vice President Takahiro Mori </strong>met with various members of the U.S. Congress members to “discuss the benefits of this deal for all stakeholders,” the report said.</p>
<p>The Japanese steelmaker, in a press statement, said it was the right partner to ensure the long-term success of the Pennsylvania-based company. It added that the resulting synergy will benefit U.S. Steel, its union workers, the national steel industry, and national security.</p>
<p>“Nippon Steel will advance American priorities by driving greater quality and competitiveness for customers in critical industries that rely on American steel. Our aim is to bolster and grow U.S Steel in the U.S. market in a way that prioritizes its talented employees,” it also said.</p>
<p>Despite Nippon Steel’s optimism about the benefits of the acquisition, U.S. President Joe Biden has expressed his reservations over the deal. But, Mori remains confident that the purchase will be approved in the end.</p>
<p>“I don’t think they (American government) can block a project that is meaningful to both sides and beneficial to related industries and both counties simply because of political considerations,” he said.</p>',
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'title' => 'Renowned U.S. chip designer wants to end Nvidia's global dominance',
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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>
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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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'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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<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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<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>
<p>“The National University Centre for Trauma represents decades of efforts in refining our trauma care expertise for our injured patients to return to their lives and achieve their dreams. It also aims to prevent trauma from occurring in the first place with data-driven injury prevention efforts,” said <strong>National University Centre for Trauma Director Raj Menon.</strong></p>
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<p>Today, NUH has over 1,200 beds and serves more than 1 million patients a year with over 50 medical, surgical, and dental specialties. NUH is the only public and not-for-profit hospital in Singapore that provides care for adults, women and children under one roof, including the country’s only pediatric kidney and liver transplant program.</p>',
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'title' => 'Visit Siem Reap 2024: Cambodia's next ace in tourism',
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'description' => 'With a blend of natural, cultural, and historical wonders, among them the 900-year-old Angkor Wat, a UNESCO World Heritage Site, Cambodia offers well-preserved archeological sites, a vibrant urban scene, and relaxing tropical resorts.',
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'content' => '<p>Cambodia, also known popularly as the Kingdom of Wonder, is regarded by the travel industry as among Southeast Asia’s most popular tourism destinations. With a blend of natural, cultural, and historical wonders, among them the 900-year-old Angkor Wat, a UNESCO World Heritage Site, the country offers well-preserved archeological sites, a vibrant urban scene, and relaxing tropical resorts.</p>
<figure class="image-container floated-right" style="float: right;"><img class="align-right" src="https://www.gmipost.com/img/uploads/Z-Newsletters/2024-R2/2024-R2-ITL-WK-1-CAMB-Tourism-Minister-Sok-Soken.jpg" alt="" />
<figcaption class="image-caption">Tourism Minister Sok Soken</figcaption>
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<p>The kingdom continues to attract more travelers from around the world. In 2023, Cambodia saw a 156% increase in tourism arrivals from the previous year, making it one of Asia's top most-visited countries. This growth in the country’s tourism sector is predicted to become a major pillar of Cambodia’s economic growth, The Asian Development Bank projects Cambodia's economy to grow from 5.8% in 2024 to 6.0% in 2025.</p>
<p>Behind this success story is Cambodia’s Ministry of Tourism, which has launched promotional campaigns and innovative strategies that target international visitors. Following the successful campaigns in the previous years, the government announced its newest initiative, Visit Siem Reap 2024.</p>
<p>Anchored around the world-famous Angkor Archaeological Park, the campaign will showcase the splendor of its home Siem Reap, and further elevate the ancient site into a must-visit destination on the global tourism map.</p>
<p>“The Visit Siem Reap 2024 campaign, together with our other activities, will help us initiate more tourism activities with priority markets. There will be a lot of cultural activities, and interaction at the government, private, and business sector levels. With the coordination of the Ministry of Tourism, all the engagement activities will be on the horizon,” said <strong>Tourism Minister Sok Soken </strong>during the launch held at Angkor Wat.</p>
<p>Echoing his sentiment, <strong>Prime Minister Hun Maten</strong> pledged his support for the campaign, which envisions annual events in Siem Reap province and the transformation of the local Phnom Kulen National Park into “an attractive destination for cultural, natural, adventure and religious tourism.”</p>
<p><strong>Thourn Sinan, chairman of the Pacific Asia Travel Association Cambodia Chapter</strong>, also outlined a strategic roadmap for the success of the Visit Siem Reap 2024 campaign, which includes developing an evocative brand identity that highlights the unique cultural experiences of Siem Reap, launching a multilingual website and social media channels, partnering with influencers in key markets, and distributing promotional materials globally through airline partnerships and travel agencies.</p>
<p>“By comprehensively implementing these strategies across marketing, experiences, and sustainability, Siem Reap aims to become Southeast Asia’s most vibrant cultural destination, protecting heritage and inspiring visitors through authentic encounters with Khmer civilization,” he said.</p>',
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Visit Siem Reap 2024: Cambodia's next ace in tourism
With a blend of natural, cultural, and historical wonders, among them the 900-year-old Angkor Wat, a UNESCO World Heritage Site, Cambodia offers we...
