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Building Singapore’s Ecosystem With The World

Building Singapore’s Ecosystem With The World

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Australia: Southeast Asia Economic Strategy

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From left to right: Ms Alexis Crowell, Intel; Mr Ang Wee Seng, SSIA; Mr Jagadish CV, Advanced Micro Foundry; Mr Nicholas Moore, Special Envoy for Southeast Asia; Mr How Chong Peng, GlobalFoundries; Mr Andrew Goh, Lam Research

The Australian Government is developing a Southeast Asia Economic Strategy to 2040.

The strategy will consider how emerging regional trends will change or transform Southeast Asian economies over the next two decades, and where Australia is best placed to respond to these emerging economic opportunities.

It will set out a pathway to strengthen Australia’s economic engagement with the region by mapping emerging trade and investment opportunities across key sectors in Southeast Asia and matching those with Australian capabilities. The strategy will also provide practical recommendations to bolster two-way trade and grow Australian investment in the region.

Recognising that collective cooperation and ambition is needed to face up to the challenge of climate change, the strategy will pay particular attention to how Australian businesses can support and contribute to the region’s energy transition and set it up for a more prosperous future.

Special Envoy for Southeast Asia

The Australian Government announced Mr Nicholas Moore as the Special Envoy for Southeast Asia in November 2022. Mr Moore has a strong record of achievement in the business and financial sectors in Australia and Southeast Asia.

Mr Moore was CEO of Macquarie Group for ten years and is current Chair of the Financial Regulator Assessment Authority. He is also a member (and former Chair) of the University of New South Wales’ Business School Advisory Council.

Mr Moore will lead consultations with business and other stakeholders in both Australia and Southeast Asia over the coming months to inform the strategy.

Why Southeast Asia

Southeast Asia is home to a growing, youthful and dynamic cohort of markets Australia’s two-way trade with the ten member countries of the Association of Southeast Asian Nations (ASEAN) is greater than that with Japan or the United States, having passed A$127 billion in 2021 and up more than 30 per cent from
A$96 billion in 2016.

Collectively, trade with ASEAN accounts for nearly 14 per cent of Australia’s overall trade. The region is also a significant consumer of Australia’s energy, agricultural products, minerals and education.

These trends present an excellent opportunity for Australia to deepen our economic cooperation with Southeast Asian countries for our mutual benefit and a shared better future.

As Australia’s Minister for Foreign Affairs, Senator Penny Wong, observed in her special lecture in Singapore in July 2022, “in any match up of economic complementarity with growth potential, the greatest trade and economic opportunities for Australia over the next thirty years lie in the ASEAN region.”

Singapore and Australia deepen ties in the Semiconductor sphere

Mr Moore met some of the semiconductor industry leaders and SSIA Executive Director in a closed-door dialogue session recently. Several topics that would involve the opportunities between Australia and Singapore were discussed at length and how the pivoting to Southeast Asia on key strategies could help deepen the partnership.

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Fostering Closer Partnership between Singapore and Uzbekistan

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January 17 of this year, on the sidelines of his visit to Singapore, The President of the Republic of Uzbekistan, His Excellency Shavkat Mirziyoyev held talks with the President of Singapore, Her Excellency
Halimah Yacob and His Excellency Prime Minister Lee Hsien Loong.

It was a fruitful visit that led to the signing of eight documents of cooperation in the directions as followings: Transport; Trade and Economy; Education; Prosecution bodies; Public Administration; Investment; Health; Science and Innovation.

And a day before the Presidential meetings, on January 16 of 2023, an Uzbek-Singapore business forum was held in Singapore, aimed at comprehensively strengthening business ties between entrepreneurs of the two countries.

Today, the demand for semiconductors and electronic boards in our country and CIS markets is estimated at USS6 billion. In this regard, the Government of Uzbekistan issued instructions to increase the number of scientific, experimental design and start-up projects in the field of electronics and microelectronics.

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From left Mr Mirziyod Yunusov, Mr Ang Wee Seng and Mr Shukhrat Vafaev

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Singapore has a vast experience in the field of electronics, and 11% of the country’s gross domestic product is contributed by the electronics, microelectronics and semiconductor industries.

Therefore, it must be admitted that among the leading developed countries around the globe, Singapore is a great example and a partner which is fully capable to support and contribute to the prosperity and development of the microelectronics industry of Uzbekistan.

Along with the bilateral negotiations, the delegation headed by the General Director of “The Strategic Reforms Agency under the President of Uzbekistan”, and State Advisor to the President of Uzbekistan — His Excellency Shukhrat Vafaev, and the Chairman of the Board of Governing Association for Electrotechnics industry of Uzbekistan “Uzeltechsanoat” Honorable Mirziyod Yunusov had meetings with Executive Director of Singapore Semiconductor Industry Association (SSIA) — Mr. Ang Wee Seng, and with the Executive Director of Institute of Microelectronics (IME) under the “Agency for Science, Technology and Research” (A*STAR) — Mr. Terence Gan.

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During the meetings with SSIA and IME, the Association “Uzeltechsanoat” received a warm welcome and high-level hospitality from the Singaporean side. The discussions were very interesting and fruitful. Uzbek and Singaporean sides exchanged ideas and experiences on developing the microelectronics industry of Uzbekistan, such as in Education, Training, R&D, Innovation, Joint Manufacturing and others.

 

Contributed by:

Dr. Aziz Muysinaliev
Board of Governing Association for Electrotechnics Industry of Uzbekistan “Uzeltechsanoat”

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A Closer Partnership With The United States

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The SSIA team with the SIA team and US Embassy staff at dinner recently

The Semiconductor Industry Association (SIA) recently made a visit to Singapore in January. SSIA and John Neuffer, the President and CEO of the Semiconductor Industry Association (SIA) and some of his other colleaques jointly organized a closed-door session with several industry leaders, it was a constructive discussion about the current affairs of our semiconductor industry.

Much was discussed at length such as the US Chips Act, the trade tension between US and China and other trilateral trade between US, Japan and Netherlands amongst others. Global ramifications to the industry due to the sanctions were also widely discussed. More importantly, it is about the next steps ahead to foster and deepen the strategic partnership between Singapore and US and in turn, Asia as a pivotal global semiconductor hub.

SSIA will be organising a working trip to Arizona for companies to learn and also explore the infinite possibilities in the US. There are only very limited spaces and if any companies would like to find out more, please contact amy@ssia.org.sg.

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A fruitful roundtable discussion with government agencies and companies

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