Sarawak Connects Fair launched in Balikpapan to boost regional ties
KUCHING (July 27): Sarawak marked a significant milestone in regional cooperation with the launch of the Sarawak Connects Fair in Balikpapan, East Kalimantan yesterday, officiated by Deputy Premier Datuk Amar Awang Tengah Ali Hasan.
In a statement from his office, Awang Tengah said the event brought together government officials, industry players and stakeholders from both Sarawak and Indonesia to explore cross-border collaboration in key sectors.
He said the fair symbolised Sarawak's commitment to strengthening economic connectivity and sustainable development across Borneo, while supporting Indonesia's vision for Nusantara as its new capital city.
'This initiative reflects our shared aspirations for inclusive growth and innovation-driven progress,' he said, adding that the fair aligns with Sarawak's Post-Covid19 Development Strategy 2030 (PCDS 2030).
'Among the focal areas highlighted were healthcare and medical tourism, digital education partnerships, and resilient urban planning based on green and modular concepts,' he said.
Awang Tengah also expressed appreciation to the East Kalimantan government and Indonesian partners for their support in making the event a success.
'The Sarawak Connects Fair is more than a trade exhibition—it is a strategic bridge linking communities, markets and investments across Borneo,' he said.
The fair saw the participation of senior Sarawak officials, including Deputy Minister for Youth, Sports and Entrepreneur Development Datuk Ripin Lamat, Deputy State Secretary Dato Sri Muhammad Abdullah Zaidel, and Economic Planning Unit Director Datu Lester Matthew.
Indonesian dignitaries included East Kalimantan's Assistant for Economic Development Ir. Ujang Rachmad and Nusantara Capital City Authority (OIKN) Deputy Head for Funding and Investment Sudiro Roi Santoso.
The event is expected to pave the way for deeper regional integration and long-term partnerships between Sarawak and East Kalimantan. Awang Tengah Ali Hasan lead Sarawak Connects Fair
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Barnama
29 minutes ago
- Barnama
Top News Headlines In Cambodia, Indonesia, Laos, Myanmar, Singapore, Thailand & Vietnam: July 29, 2025
The bordering areas of Cambodia and Thailand have remained quiet since midnight on Monday, following fruitful ceasefire talks held in Malaysia yesterday. There has been no gunfire between the two forces so far. Former Cambodian Prime Minister Hun Sen thanked United States President Donald Trump and Malaysian Prime Minister Datuk Seri Anwar Ibrahim for the successful mediation talks in Putrajaya. He said their efforts saved thousands of lives in Cambodia and Thailand. INDONESIA REAFFIRMS COMMITMENT TO NUSANTARA PROJECT AMID MORATORIUM CALLS -- THE JAKARTA POST State Secretary Prasetyo Hadi has dismissed growing concerns over President Prabowo Subianto's commitment to the Nusantara capital city project, asserting that the President has no plans for a moratorium and remains fully committed to completing the relocation within three years. TO LET INDONESIAN PALM OIL ENTER ITS MARKET AT 0 PCT TARIFF --JAKARTA GLOBE Chief Economic Affairs Minister Airlangga Hartarto said Monday that Europe would let Indonesia sell its palm oil at 0 percent tariff as part of a last-minute trade deal negotiation. LAOS UNESCO'S TRANSBOUNDARY HERITAGE SITE -- VIENTIANE TIMES Authorities plan to celebrate the inscription of Hin Nam No National Park as a UNESCO World Heritage Site. UNESCO approved the inclusion of Hin Nam No National Park alongside Vietnam's Phong Nha-Ke Bang National Park on July 13. JOINT BORDER DEMARCATION EFFORTS -- VIENTIANE TIMES Lao and Cambodia have identified 75 boundary points and installed 134 new permanent markers over the last year. The progress was announced at the 8th Meeting of the Laos-Cambodia and Cambodia-Laos Joint Boundary Commissions in Phnom Penh. MYANMAR BUILDINGS TO BE EARTHQUAKE-RESISTANT -- THE GLOBAL NEW LIGHT OF MYANMAR The government directed that high-quality construction materials and advanced technology should be included in the construction of skyscrapers or high-rise buildings, as in Japan or China. This is to ensure the safety of lives and properties during earthquakes. ELECTRIFICATION FOR 30,000 HOMES -- THE GLOBAL NEW LIGHT OF MYANMAR The government's rural electrification programme aims to cover over 30,000 households in remote areas where the national grid is difficult to reach. A small-scale solar system for a single house and a mini-grid will be deployed. SINGAPORE DEAD, OVER 80,000 EVACUATED, FOLLOWING HEAVY RAIN IN BEIJING, XINHUA REPORTS -- THE STRAITS TIMES Thirty people have been killed in Beijing and over 80,000 people have been evacuated as at midnight on July 28 as rain hit the Chinese capital, the official Xinhua news agency reported on July 29. SINGAPORE GROWS IN POPULARITY WITH CHINESE STUDENTS, UNIVERSITIES ROLL OUT MANDARIN-TAUGHT PROGRAMMES -- CNA After nearly a decade in the workforce, Ms Jin Qi decided in 2020 that it was time to pursue a master's degree to advance her career. THAILAND 1. SAI RIVER OVERFLOWS IN MAE SAI AFTER HEAVY DOWNPOURS TRIGGER FLASH FLOODING -- THE NATION Sai River overflowed early Monday in Chiang Rai's Mae Sai district after 118.8mm of rain, prompting evacuations and flash flooding in several villages. 2. THAILAND AND CAMBODIA TRUCE AGREEMENT COMES INTO EFFECT -- BANGKOK POST SURIN - A truce agreement between Thailand and Cambodia came into effect in the early hours of Tuesday, testing whether it will halt five days of open combat that have engulfed their jungle-clad frontier. VIETNAM MARKS 30TH ANNIVERSARY IN ASEAN -- VIETNAM NEWS Vietnam says ASEAN is a vital gateway to the country's regional integration and national development, and both share the same aspirations to promote peace. Vietnam commemorated the 30th anniversary of its accession to the bloc on July 28. TO WORK WITH ICJ TO PROTECT ENVIRONMENT -- VIETNAMPLUS Vietnam will continue to work closely with the International Court of Justice (ICJ) to protect the environment from the negative impacts of greenhouse gas emissions. It has actively contributed throughout the entire process of seeking the ICJ's advisory opinion. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
The Star
4 hours ago
- The Star
Shoemakers take cautious steps despite lower levies
Made with love: An artisan at the Tegep Boots workshop making leather boots for the US market. — AFP At a leather boot shop in Bandung city, workers handle an order from Texas. But owner Etnawati Melani says she fears such business will dwindle when Donald Trump's 19% tariffs hit exports. The measure was lower than the initial extra 32% the US President threatened in April, and better than the 20% he imposed on Vietnam. But Etnawati, who had plans to expand her business, Tegep Boots, to the United States, said her focus would now shift to other markets. 'I have to develop a new strategy. Perhaps we have to diversify our markets, products, and so on. 'If it's possible to enter (the US market), but... not in large quantities at first, that's it,' she said. 'We can't rely solely on the US. There's still many markets in the world. We can still shift. 'I plan to shift focus to Japan and Russian partners.' In return for a lower tariff, Indonesia pledged billions to increase energy, agriculture and merchandise imports from the United States and Trump said Jakarta had pledged to buy 50 Boeing jets. Indonesian President Prabowo Subianto suggested after the initial tariff threat in April that Trump was maybe helping Jakarta by causing it to rethink its trade surplus with the world's top economy. Indonesia is the third-largest footwear exporter to the United States behind China and Vietnam, according to the Observatory of Economic Complexity. So any new tariff was likely to damage business – particularly in Bandung, where its shoe scene is well-known internationally for beautifully hand-crafted quality leather boots. Economists in Indonesia hit out at the deal with Washington, which Trump says would get tariff-free access in return. 'This is not an agreement. It's... a one-sided agreement,' Jakarta-based Centre for Strategic and International Studies executive director Yose Rizal Damuri said. But he predicted American consumers would likely bear the costs more than Indonesian businesses, with Trump's tariffs sweeping across many countries. 'The United States itself will be the one more affected. Prices will rise,' he said. Data has shown that US inflation spiked in June as the tolls kicked on. The shop's more seasoned workers such as Jajang – who goes by one name – have already experienced the ups and downs of business, with the Covid-19 pandemic hitting sales, and seeing dozens of colleagues laid off and several dying. 'I don't know about that issue, the important thing is that I work here,' said the 53-year-old when asked about Trump's levies. Others aware of the Trump threat to Indonesian exports were more concerned. One of Etnawati's workers, Lili Suja'i, chipped away at a new set of boots for the three-pair Texan order – riding boots, medium casual boots and loafers – in a workshop located adjacent to the store. He said he feared US customers would be put off by higher costs, with the shop his main income for his family of three. But the shoemakers are ready to fulfil any orders from Americans willing to pay the extra price. 'I'm worried, yes, but before placing an order, we negotiate the shipping costs and prices with the customer,' the 38-year-old said. — AFP
The Star
4 hours ago
- The Star
Vietnam's new tax plan likely to discourage investment
HANOI: Last week's draft proposal by the Ministry of Finance to impose a 20% personal income tax on profits from securities trading has sparked widespread debate among legal experts, market participants and industry bodies. Many have warned it could discourage investment and hinder the growth of Vietnam's fledgling capital market. The proposal is part of the ministry's plan to amend the Law on Personal Income Tax, which includes new regulations for taxing individual earnings from stock market activities. Speaking to Tuoi Tre (Youth) newspaper, the chief executive officer (CEO) of a credit rating agency said that the 20% tax on investment profits is not a new concept. Previously, the Personal Income Tax Law allowed individuals to choose between two methods: a provisional tax of 0.1% on the transfer value or applying a 20% tax rate on net income. The 0.1% tax on the transfer value was uniformly applied for convenience and to prevent revenue loss. The CEO noted that technically, securities companies are able to track the cost base and profit for each stock, so calculating tax on gains is no longer difficult. However, he cautioned that the proposed 20% rate is excessively high and could disincentivise retail investors from entering the market. Phan Phuong Nam, vice-dean of the International Law Faculty at Ho Chi Minh City University of Law, said that investors should be allowed to choose between the two taxation methods, with a gradual shift towards taxing only net profits to ensure fairness. 'If the flat 20% tax is applied, investors should also be allowed to carry forward losses, as many experience gains only in one year after several years of investment,' Nam said. He also proposed applying family deductions for professional investors, who rely solely on securities income to align with the principles of equitable taxation. Nguyen Hoang Hai, vice-chairman of the Vietnam Association of Financial Investors (VAFI), raised concerns over how interest expenses would be allocated for tax purposes. 'If someone borrows five billion dong to invest in multiple stocks, but only sells one, how would you allocate that interest expense in a way that is acceptable to the tax authorities?' Hai asked. He also highlighted that many investors use collateral like real estate to obtain investment loans, further complicating expense tracking. A securities firm's executive pointed out that Vietnam's capital market is still at an early stage of development and should be nurtured rather than overtaxed. 'Tax authorities should focus on growing the tax base by encouraging long-term market participation. Overtaxing could stifle future revenue potential,' he said. Nguyen The Minh, head of the Research and Development Division at Yuanta Securities Vietnam, acknowledged that taxing investment profit aligns with international standards. Still, he recommended a tiered tax system based on holding periods. 'Higher tax rates could apply for stocks held under one year, while long-term investments, over 10 years, could be tax-exempt. 'This would both discourage speculative trading and incentivise long-term investment,' Minh said. Another controversial proposal in the draft is to tax stock dividends and bonus shares at the time of issuance, rather than when the investor sells the shares. 'Taxing stock dividends immediately upon issuance would make this option less attractive and reduce a valuable tool for companies to reinvest profits,' according to the Vietnam Chamber of Commerce and Industry (VCCI). The General Department of Taxation pointed out that personal income tax collected from securities-based dividends between 2016 and last year totalled more iesthan 1.3 trillion dong. However, under the proposed change, this figure could have reached 17.4 trillion dong, a more than 13-fold increase. VCCI emphasised that most investors tend to hold such shares long-term, which suggests the deferred tax method better supports reinvestment and enterprise growth. 'The 10 trillion dong in 'uncollected' taxes is actually retained by businesses and channelled into production, job creation and gross domestic product growth. 'Taxing it prematurely could disrupt this cycle,' the organisation warned. VCCI further noted that receiving stock dividends does not create immediate income for shareholders, as there is no increase in real asset value at the time of issuance. 'This is a technical adjustment in capital structure. Imposing tax here burdens investors financially without corresponding liquidity, especially for those who do not immediately sell the shares,' the chamber argued. Such a move, they stressed, could erode confidence in long-term investing. 'Investors may ask: 'Why receive shares and face future uncertainty when cash dividends offer immediate income and the ability to pay taxes upfront'?' VCCI recommended that lawmakers retain the current policy of collecting personal income tax on securities only at the point of transfer. This approach not only safeguards investor interests but also supports sustainable revenue streams and corporate development. Last week, the Ministry of Finance also proposed a 20% tax on income from real estate transactions, which would be calculated based on the profit from each transaction (selling price minus purchase price and related costs). If the purchase price and costs cannot be determined, the tax will be directly applied to the selling price, taking into account the holding period. — Viet Nam News/ANN
