Author Archives: Economic Outlook

Enterprises Resume Work and Production in Xi’an, China amid Novel Coronavirus Outbreak

XI’AN, China, Feb. 22, 2020 /Xinhua-AsiaNet/ — As China continues to tackle the novel coronavirus outbreak, its industries have started to return to work in an orderly manner. Xi’an, one of the national central cities and an important scientific research, educational and industrial base in China, has recently introduced a number of measures to help enterprises pull through the difficult times and speed up their resumption of production, such as optimizing government services, delaying social security payments, stabilizing employment with subsidies and increasing credit support.

According to statistics released by Xi’an Bureau of Industry and Information Technology, as of February 19, more than 400 enterprises in Xi’an have resumed production. A total of 34 large industrial enterprises have resumed work and production, accounting for 75.6% of all the 45 large industrial enterprises. Production capacity has also been gradually restored, as 9 large enterprises with production and sales of over RMB10 billion have fully or partially resumed production, such as Shaanxi Automobile Holdings Limited and Samsung (China) Semiconductor Co., Ltd.

On February 10, Shaanxi Fast Auto Drive Group Co., Ltd. headquartered in Xi’an, began to resume production. With strictly implemented epidemic prevention measures, it has promptly restarted multiple production lines like the gear processing line in order to meet urgent market needs. On February 14, Shaanxi Automobile Holdings also resumed production, with more than 2,000 employees back to work and one production line restarted. More than 12,000 employees have so far returned to work at Huawei Xi’an Research Institute. Micron Semiconductor (Xi’an) Co., Ltd. has restored 80% of its production capacity.

Xi’an International Trade & Logistics Park, China’s largest inland port, has set up a green channel service. With the service, trucks do not need to stop, drivers do not need to get out of their cockpits, and traffic does not need to wait outside of the station. Epidemic prevention measures are fully implemented, such as disinfection and decontamination, temperature measurement and registration. All these measures help ensure the smooth operation of the China-Europe Chang’an freight train service. The China-Europe Chang’an freight train made a total of 200 trips in January, 2.4 times that of the same period last year. Affected by the outbreak, the Chang’an international freight train has slowed down its operation, but it still maintains the frequency of one trip per day.

As enterprises resume production, personnel mobility is increasing. In order to stop the virus from spreading, the Xi’an government provides “one-on-one” services for enterprises returning to work, to help them implement prevention and control measures such as quarantine and observation, nucleic acid testing and environmental decontamination. Meanwhile, the government is fully committed to coordinating efforts to solve problems that these enterprises face regarding personnel, transportation, dining and accommodation. The Xi’an government introduces a number of measures to help small and medium-sized enterprises resume work, such as reducing or exempting rents, providing interest subsidies, and helping enterprises develop markets.

Xi’an will centrally arrange a special fund of 200 million yuan to support the employment of local enterprises, and a special fund of 1 billion yuan to support local enterprises in vocational training for employees. Xi’an will offer a full subsidy for the expenses of the enterprises incurred in transporting employees with booked vehicles and train compartments; offer a partial subsidy for the transportation costs of personnel returning to work on their own; and offer a full subsidy for the costs of nucleic acid testing.

Source: Xi’an Bureau of Industry and Information Technology

Electra to Launch Their First Electric Vehicle

That will revolutionize the business and compete against all others companies in mid-range budget consumer

LEBANON, Beirut, Feb. 21, 2020 (GLOBE NEWSWIRE) — Electra looking to outperform, out price and out class the current EV market by building an ecofriendly supercar fit for the mid-range consumer. The ultimate symbol of strength and renewal, Electra is built with the finest EV technology available.

The priority for Electra is to replace the current ICE (internal Combustion Engine) car market to Electric Vehicles by 50% therefore having a greater impact on the Environment rather than super profits for the company.

“While watching the market for electric vehicles we noticed that either the EV cars were very expensive or not appealing in look to the customer base, in order to increase customer interest, we decided to design and build a car that will be ranked as a supercar, but still be affordable to the medium budget client;”
Mr. J Mohammad, Founder EV ELECTRA LTD.

EV Electra Limited is on a mission to support and accelerate the world’s transition to sustainable energy, while not compromising, on design, performance and affordability.

Planning its first appearance in Q2 2020, booking will be starting soon after.

A Media Snippet accompanying this announcement is available by clicking on the image or link below:

Untitled

Electra first car, QUDS 1; Electra first car, QUDS 2; Electra first car, QUDS 3

To editors wishing to have more information on EV Electra Ltd. and their products please click here

For more information please visit www.evelectra.com

Contact: Jihad Mohammad / EV ELECTRA LTD
Phone: +1 438-751-6091
Email: evelectra@evelectra.com

President of Indonesia Inaugurates Country’s Largest Integrated Viscose Rayon Production Facility

  • Investment of Rp. 15 trillion (USD1,1 billion) in facility
  • Supports development of national textile industry and ‘Making Indonesia 4.0’ roadmap
Image 1 (1)

The President of Indonesia, Joko Widodo, pictured today at the ceremony to inaugurate Indonesia’s largest integrated viscose rayon production facility. The new Asia Pacific Rayon (APR) facility is located in Pangkalan Kerinci, Riau province, Sumatra. APR is part of the RGE (Royal Golden Eagle) group of resource-based manufacturing companies. Also pictured are RGE Founder and Chairman Sukanto Tanoto, and Anderson Tanoto, Director, RGE.

PANGKALAN KERINCI, INDONESIA  – Media OutReach – 21 February 2020 – The President of Indonesia, Joko Widodo, today inaugurated Indonesia’s largest integrated viscose rayon production facility, injecting a boost for the country’s textile sector and the Indonesian Government’s industrial 4.0 development strategy.

The new Asia Pacific Rayon (APR) facility is located in the same production complex as APRIL Group in Pangkalan Kerinci, Riau province, Sumatra. This co-location allows integrated operations where renewable plantation pulp supply from APRIL feeds directly to APR for viscose rayon production. The new operation represents a total investment of approximately Rp.15 trillion (USD1.1 billion).

The APR facility has an annual production capacity of 240,000 tons.  The inauguration ceremony included the signing of a plaque by President Widodo and the symbolic sealing by the President of an export container with 10,190 tons of viscose rayon fibre for shipment to Turkey, one of APR’s key export markets, and another 12,000 tons to Central Java.

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The President of Indonesia, Joko Widodo (centre), pictured during a tour of the new Asia Pacific Rayon (APR) production facility in Pangkalan Kerinci, Riau province, Sumatra, with Anderson Tanoto, Director, RGE (left), RGE Founder and Chairman Sukanto Tanoto (centre/left), and the Minister of Industry, Agus Gumiwang Kartasasmita (right). APR is part of the RGE (Royal Golden Eagle) group of resource-based manufacturing companies. President Widodo today inaugurated the new APR facility, which is the largest integrated viscose rayon production facility in Indonesia.

The ceremony was also graced by the Minister of Industry, Agus Gumiwang Kartasasmita, the Minister of Trade Agus Suparmanto, the Governor of Riau, Syamsuar, RGE Founder and Chairman Sukanto Tanoto, and Anderson Tanoto, Director, RGE.

Speaking at the inauguration, President Widodo welcomed APR’s investment in the development of the national textile industry. The role of the private sector was influential in driving economic growth, alongside the stimulus provided by the Government, he said. “Our garment industry should be greater than Vietnam. We already have our own raw materials here, such as viscose rayon, to support the industry,” he said.

Economic Contribution

APR’s business aligns with President Jokowi’s vision to encourage more value-added investment in the nation and the strengthening of the national textile and textile product (TPT) industry, as set out in the Making Indonesia 4.0 Road map. In addition, the production of viscose rayon will reduce dependence on the import of textile raw materials, particularly cotton, to meet domestic demand.

Agus Gumiwang Kartasasmita, Minister for Industry, said: “By optimising the availability and use of raw materials originating from Indonesia, we can boost the performance of our textile sector. This is just one of several steps we are taking to continue to improve the performance and competitiveness of the labour-intensive industry.”

Basrie Kamba, Director APR, said: “The presence of APR will have a positive impact on employment and business opportunities for small and medium-sized businesses in the upstream and downstream sectors of the textiles and textile products industry. We are honoured and grateful to President Jokowi for inaugurating our new facility”.Asia Pacific Rayon logo

In addition to Turkey, APR’s products are exported to 14 other countries including key textile centres such as Pakistan, Bangladesh, Vietnam, Brazil, and various parts of Europe. The products also support an expanding Indonesia fashion industry.

It is estimated that APR may generate foreign exchange revenues exceeding Rp1.77 trillion (USD130 million) annually, and reduce dependence on imported raw materials by about Rp2.01 trillion (USD149 million) annually.

Sustainable Production

APR produces sustainable viscose rayon fiber from renewable, traceable and biodegradable raw materials. The company’s raw materials are supplied by APRIL Group, which is recognised as a responsible pulp producer through national (Timber Legality Verification System) and international (Program for the Endorsement of Forest Certification/PEFC) certifications.

APR is the first viscose rayon manufacturer in Indonesia to receive the internationally recognised STeP certification from OEKO-TEX ®, an independent Swiss-based certification organisation, for the responsible manufacturing of viscose staple fibre.

APR has launched the ‘Everything Indonesia’ campaign to promote the sustainable sourcing and production of fashion from Indonesia. The aim is to support Indonesia’s resurgence as a global centre for textile manufacturing, and catalyse home-grown fashion design and creativity.

About Asia Pacific Rayon:

Asia Pacific Rayon is the first fully integrated viscose rayon producer in Asia. The factory with 240,000 ton capacity, located in Pangkalan Kerinci, Riau, uses the latest production technology to produce high-quality rayon to meet textile needs. APR is committed to become a leading viscose rayon producer that has the principles of sustainability, transparency and operational efficiency, serves the interests of the community and the country, and provides value to customers. APR is part of the RGE (Royal Golden Eagle) group of resource-based manufacturing companies.

Media contact:

Djarot Handoko
Head of Corporate Communications, Asia Pacific Rayon
Email: Djarot_Handoko@aprayon.com

 

MandiExpress.pk Raises $725,000 in a Pre-Series A Round

MandiExpress, a leading online fresh produce & grocery delivery service, has announced today that it has closed a $725,000 Pre-Series A funding round for scaling across Pakistan.The funding round was led by Lakson Investments Venture Capital (LIVC), a … Read More …

How Will Coronavirus Affect Pakistan’s Economy?

The global economy is facing supply chain challenges amidst the coronavirus outbreak in China.Moody’s, in its latest report, has predicted an economic growth slowdown across the Asia Pacific region, triggered mainly by the deadly outbreak in China.Paki… Read More …

Each PSL Match Will No Longer Cause Damages of Rs. 23 Billion to the Locals

The Lahore Chamber of Commerce and Industry (LCCI) has lauded the government’s decision not to shut down businesses during the match days of the Pakistan Super League (PSL).

Earlier this week, members of LCCI had claimed that the government’s decision to shut down Liberty market and other businesses adjoining Gaddafi Stadium would cost the city more than Rs. 23 billion every day.

President of LCCI, Irfan Iqbal Sheikh, said in a press briefing:

It is a great moment for the business community as international cricket, trade, and economic activities have resumed and would continue parallel.

Vice-President of LCCI, Zahid Ahmed, stated:

It is not only a big favor to the business community but also to the local and foreigner cricket fans who love shopping at Liberty Market whenever they come to witness match at Gaddafi Stadium.

LCCI members said the new security scheme by the law enforcement agencies would save the business community from incurring significant losses during PSL.

LCCI has pledged maximum cooperation with both the government and security forces during the PSL tournament.

Source: Pro Pakistani