• New ASEAN E-commerce Framework To Benefit More Local MSMEs
  • MAGIC aims to launch eight new, market-ready products or services by the end of 2018
  • 16 MoUs to be signed at 13th WIEF
  • More than half of PR1MA houses sold
  • Cisco and INTERPOL collaborate to combat Cybercrime
  • Thailand wants the rich to invest in high-end and tech sectors

New ASEAN E-commerce Framework to Benefit More Local MSMEs
The new ASEAN framework on e-commerce, currently being implemented by the ASEAN Coordinating Committee on E-commerce, is expected to open up more opportunities for micro and small and medium enterprises (MSMEs) and facilitate their business expansion in the region. Datuk Ravindran Palaniappan, Chair of the working group of trade in services of the Regional Comprehensive Economic Partnership (RCEP), said the committee, established last year, was working to develop a single framework on e-commerce to improve ease of doing business for entrepreneurs across the region. “ASEAN consists of 10 different countries and (currently) we have 10 different e-commerce or digital economy laws across the region. Since last year, the ASEAN Coordinating Committee on E-commerce has been working to come out with a new framework agreement on e-commerce. “I think they are almost there, they are working towards finalising it (the framework). Once this e-commerce law comes into force, it will open new opportunities for not only our entrepreneurs, but also entrepreneurs in the region.” (Bernama)

Mesiniaga-MaGIC Collaboration To Launch Intrapreneurship Programme
Malaysian Global Innovation & Creativity Centre (MaGIC) today announced a strategic partnership with Mesiniaga Bhd. to collaborate on the newly-launched Bright Side Innovation Lab (Bright Side). Bright Side aims to instill a culture of innovation in Mesiniaga, encouraging creative thinking to solve problems, promoting and supporting entrepreneurship, as well as reducing the time required to build and deploy quality solutions. It will provide Mesiniaga’s employees with an avenue to validate business ideas, equip themselves with the crucial skills and capabilities, and bring their products to market with the help of accelerator partners. Together with Mesiniaga, MaGIC will actively participate in Bright Side by offering advisory and mentorship support, providing training and workshops to build capabilities, as well as sharing its extensive knowledge and experience in running accelerators. The innovation lab aims to launch eight new, market-ready products or services by the end of 2018. These new solutions will either be introduced as a new offering within Mesiniaga, or spun-off into a stand-alone subsidiary to open the door to wider market opportunities. (MaGic)

16 MoUs To Be Signed At 13th WIEF
Sixteen memoranda of understanding (MoUs) will be signed during the three-day World Islamic Economic Forum (WIEF) in Kuching from tomorrow. WIEF Chairman Tun Musa Hitam said this proved the success of the forum in bringing together multinational companies to collaborate in many areas of business in the digital economy. WIEF has succeeded in gathering business communities from around the world as it focuses on business without touching politics and religions, he said at a dinner to welcome delegates. (Bernama)

More Than Half of PR1MA Houses Sold
A total of 12,640 units of Perumahan Rakyat 1Malaysia (PR1MA) houses with gross development value of RM3.16 billion had been taken up as at November 2017. “This represents more than 50 per cent of the 25,132 units of PR1MA houses which are open for sale at the moment,” Perbadanan PR1MA Malaysia said in a statement today to clarify a media report on the number of houses that had been sold. PR1MA said claims that the number of units that are currently under various stages of construction and sold was misleading to readers. “Not all 141,661 units that are currently under various stages of construction are open for sale and it is misleading to conclude that less than 10 per cent of PR1MA units have been sold to date,” said PR1MA. (Bernama)

Cisco and INTERPOL Collaborate to Combat Cybercrime
Cisco, the worldwide technology leader, and INTERPOL, the world’s largest international police organization, have announced an agreement to share threat intelligence as the first step in jointly fighting cybercrime. Headed by INTERPOL’s global cybercrime center, the INTERPOL Global Complex for Innovation (IGCI) in Singapore, the alliance will see the two organizations develop a coordinated and focused approach to data sharing. This not only will allow for quick threat detection around the world, but also pave the way for potential future collaboration on training and knowledge sharing. (Media Release)

Thailand wants the rich to invest in high-end and tech sectors
Kobkarn Wattanavrangkul, Thailand’s tourism and sports minister is on an economic mission to draw high net worth individuals to the country not only to holiday, but also to live, invest and for retirement. The drive is underscored by the Authority of Tourism’s series of large scale international events to boost the tourist dollar and its special visa scheme to allow foreigners to stay in the country for up to 20 years. Since 2003, 4,800 special visas have been issued under its exclusive residence visa programme, Thailand Elite, which gives foreigners the right to live in the country for five to 20 years with a one-off fee of 500,000 Thai baht (US$15,000. Out of the 4,800 “elite” visas, 1,200 were signed up this year. While foreign investors have traditionally focused on investing in condominiums in the Thai property market, Kobkarn said the scope should be expanded. “It is time to look at investment in Thailand again. We are aiming to lure more investment in high- tech and high-end industries,” she said. (SCMP)


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