Latest news with #ActionPlan
Fibre2Fashion
5 days ago
- Business
- Fibre2Fashion
Turkiye unveils 39-point reform plan to strengthen investment climate
Turkiye's Investment Environment Improvement Council (YOIKK) has unveiled its 2025 Action Plan, setting the stage for comprehensive reforms to enhance the nation's investment climate. The plan, comprising 39 targeted actions, focuses on key areas including industrial transformation, renewable energy, the digital economy, and regional development. The plan seeks to stimulate private sector investment, reduce bureaucratic barriers, and align Turkiye's commercial framework with international standards. It places strong emphasis on increasing industrial output, encouraging technological innovation, and establishing legal clarity for investors. The Ministry of Industry and Technology will spearhead the expansion of organised industrial zones under a broader national industrial strategy, while the Ministry of Energy and Natural Resources will focus on making energy-intensive zones more sustainable. These efforts are expected to reinforce Turkiye's industrial competitiveness and environmental resilience, according to media reports from Turkiye. Turkiye's Investment Environment Improvement Council (YOIKK) has launched its 2025 Action Plan featuring 39 reforms to boost private investment, streamline regulations, and align with global standards. Key focus areas include industrial transformation, renewable energy, digital economy, and regional development. The highlights include a hydrogen strategy, AI action plan, and vocational training. To streamline procedures, the plan proposes a single-window investment platform. It also includes legal reforms to improve predictability in qualified investments and resolve disputes more efficiently. Revisions to enterprise and SME classification thresholds are also on the agenda to reflect evolving economic realities. Vocational training is another focal point as higher education institutions will be set up within industrial zones in collaboration with local chambers of commerce, promoting university-industry partnerships and addressing workforce needs. In a major push towards clean energy, the Ministry of Industry and Technology will soon launch a national hydrogen strategy, as per the reports. The initiative will cover legislative, safety, and infrastructure frameworks for hydrogen production, supporting research in electrolysers and fuel cells while ensuring EU environmental compliance. Additionally, Turkiye is preparing a 2026–2030 Artificial Intelligence Action Plan to advance ethical AI development and boost its international standing. A National Cloud Computing Strategy and updated National Data Strategy will also address data localisation and infrastructure gaps. The plan also introduced a Local Development Initiative Program aimed at identifying and supporting region-specific opportunities. A nationwide call for proposals under this initiative is expected later in the year. Fibre2Fashion News Desk (SG)
Yahoo
10-07-2025
- Business
- Yahoo
EC proposes rules for chemically recycled content in plastic bottles
The European Commission (EC) has opened a public consultation on proposed regulations for assessing, validating, and documenting recycled material in single-use plastic beverage bottles, including chemically recycled material. The commission indicates that these regulations will support chemical recycling within the EU and assist businesses in achieving their recycled material targets established under the Single-Use Plastics Directive. These potential regulations are a component of the new 'Action Plan for the EU Chemicals Sector', which seeks to bolster the industry's competitiveness and facilitate its shift towards safe, sustainable, and innovative chemical manufacturing. With rising quantities of plastic waste in the EU, the commission underscores the pressing need to enhance plastic waste collection, sorting, and recycling to meet recycling objectives. Although mechanical recycling is favoured for its reduced environmental impact and energy efficiency, chemical recycling is acknowledged as an important alternative when mechanical methods are impractical or when stricter quality requirements (as in food packaging) are necessary. The proposed regulations aim to ensure clarity in calculating the proportion of chemically recycled material in new single-use plastic bottles. The calculation methodology follows the 'fuel-use excluded' allocation rule. This means that any waste utilised for fuel production or energy recovery cannot be considered as recycled content, in accordance with the definition of 'recycling' outlined in the Waste Framework Directive. The commission stated that the rules are designed to strike a balance between transparency and reducing the administrative burden on companies and national authorities. Annual third-party verification will be mandated for the most intricate phases of the value chain, specifically during chemical recycling. Small and medium-sized enterprises (SMEs) will benefit from less stringent requirements, needing this validation every three years. Businesses will be responsible for verifying their partners' self-declarations while national authorities will carry out risk-based inspections. This is reportedly the EU's inaugural set of regulations specifically addressing chemically recycled material. The assessment methodology is designed to act as a template for future regulations on recycled material in other sectors such as packaging, automotive, and textiles. In a statement, the European Commission said: 'By incentivising investments and supporting new recycling technologies, the rules will boost the competitiveness of both the EU chemical industry and manufacturers that use plastics in their production, helping to establish Europe as a leader in sustainable innovation. 'The measures will also benefit the environment, as they will economically incentivise producers to reuse plastic waste, rather than disposing of it in landfills, littering or incinerating it.' In February this year, the commission implemented the new Packaging and Packaging Waste Regulation, with an objective to reduce the environmental footprint of packaging within the EU. "EC proposes rules for chemically recycled content in plastic bottles" was originally created and published by Packaging Gateway, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
EVN Report
08-07-2025
- Business
- EVN Report
From Surge to Stability: Armenia's Economic Snapshot
After two years of experiencing exceptional growth , influenced by the influx of Russian emigres, a construction boom, re-exports to Russia and a growing tech sector, Armenia's economic trajectory is beginning to return to more realistic levels. Meanwhile, Yerevan is pursuing an ambitious reform agenda, aimed at accelerating economic growth and attracting investment. In 2021, the government adopted a Five-Year Action Plan (2021-2026) focused on key areas including the IT sector, human capital development, and infrastructure. Despite some progress, gaps remain when it comes to building more inclusive and resilient growth across the country. 'We're still a very consumption-oriented economy,' says Samson Avetian, CEO at eqwefy, author, and adjunct lecturer at the American University of Armenia. Now, with just one year remaining in the Action Plan, Armenia's government still has a number of key goals to accomplish, many of which will likely spill over into the next Five-Year Action Plan. The current program included 439 main goals ranging from strengthening security and foreign policy, boosting the economy, to enhancing infrastructure and strengthening institutions. Many of these goals closely align with the 2019-2023 and, more recently, the 2025-2029 World Bank Group's Country Partnership Framework. The World Bank is working with the Armenian government to invest in strategies that move these goals forward, particularly in boosting economic growth and alleviating poverty. 'That's a lot of things to accomplish in the year,' says Carolin Geginat, who served as country manager for Armenia at the World Bank Group until July 1, adding that the government has to 'pace itself' as it catches up with a backlog of investments following three decades of low funding in the country. Among the more prominent sectors pushed to the forefront is the information and technology sphere, which experts and government officials have identified as the country's next big attraction. Tech exports, as a share of total service exports, more than doubled between 2017 and 2021 to 22%, according to the World Bank . Tech service exports on a per capita basis also outperformed those of China and India. 'In the long run, the most important sector is tech innovation,' Avetian says. 'Without it, it would be very difficult to imagine a wealthy, sustainable economy in Armenia.' In early June, a $500 million public-private partnership between the Armenian government and Firebird AI was announced, with support from NVIDIA. Armenian Prime Minister Nikol Pashinyan described this latest investment as the 'Stargate' of Armenia . In February, the Ministry of High-Tech Industry also signed a partnership with French AI company, Mistral, to strengthen AI infrastructure and integrate the technology within the government. The World Bank's newest framework encourages Armenia's continued diversification, especially of its export products. Again, the emphasis is on tourism, IT and agriculture as the sectors with the most potential. Around 2.2 million tourists visited the country in 2024, significantly surpassing pre-COVID numbers of 1.9 million in 2019. Early numbers from the Ministry of Economy report over 383,000 tourists have already visited Armenia between January and March of this year. There have also been large investments in the sector over the last two years. In 2023, the government invested 1 billion AMD or $2.6 million in tourism and 1.5 billion AMD or $3.9 million in 2024. In April, the World Bank approved a $100 million project to improve access to resilient infrastructure and strengthen the role of tourism in the Armenian economy. The Tourism and Regional Infrastructure Project is expected to create job opportunities, attract private investments, and benefit local communities and visitors in seven prioritized areas across the country. The Law on Tourism , which came into effect Sept. 1, 2024, and regulates the industry, requires all individuals providing tourism services and resources to electronically register with the Tourism Committee. It also places new requirements on tourism companies, such as having a website and at least one employee. Armenia's shift toward a more pro-business attitude has also proven beneficial for the encouragement of new startups in the country. In late December 2024, the government adopted a new bill to support new high-tech ventures . 'There were some questions from the tech community or the tech associations in Armenia about how effectively the law achieves its intended goals,' Avetyan says, noting that there are a few bottlenecks and practical hurdles regarding the applicability of some of those solutions. 'But I think the orientation and the willingness to support that sector is visible.' While there has been momentum in the tech industry, movement of labor or capital from the less productive firms to the more productive ones, also referred to as 'factors of production,' continues to lag behind, according to the World Bank. Instead, large companies that have been active for a long time continue to possess the majority of the market share. 'This is usually where growth comes from in countries,' Geginat says. 'So a productive firm attracts small labor and then grows. There is still something missing in the Armenian economy there.' The World Bank also reports some progress made in the fields of healthcare and education. Armenia has been working to create a universal health insurance system to tackle high health costs in the country, which has kept poverty rates high and productivity rates low in vast parts of the country. Out-of-pocket payments remain commonly high, with around half of the population relying predominantly on them, the World Health Organization reports . However, the program's rollout has been delayed due to a lack of funding despite securing a loan from the World Bank. As of June, the government maintains that ' very intensive discussions ' on the legislative packages are ongoing, with an implementation date of 2027. A universal healthcare system would be 'a game changer' for Armenia's poverty and productivity rate, says Geginat of the World Bank. 'That affects the productivity of the nation, it affects immigration rates, it affects whether people go into retirement early, which is then a burden on the overall population because someone has to pay for their pensions,' she explains. 'So that's an important reform that I think has to be finalized in the next year.' Education was also a key goal of Pashinyan's government strategy. A new teacher recertification program allowed for educators to obtain high salaries, and a new curriculum program for teachers is currently being rolled out. However, initial reports show lower-than-anticipated participation rates in the program. But, reforms to the educational curriculum remain to be seen. Out of nearly 12 years of schooling in Armenia, only 8.5 translate into quality learning years, the World Bank reports. 'This is not just Armenia, to be honest,' Geginat says. 'We see this phenomenon around Eastern Europe. There needs to be investments in that space to prepare the new generation better for the labor market.' Many of the policy changes related to education and health are long-term strategies that may not immediately render results that can be marked as a win, according to Avetian. 'I'm not saying those policies that were implemented are bad,' he says. 'I'm just saying those that were implemented were long-term policies and those are very important too.' Despite some progress in various fields, some aspects of Armenia's economy remain unbalanced. Manufacturing remains a small portion of the economy, despite its potential as an economic driver, Avetian says. Investments also remain lower than in many other countries. Geginat explains that investments have flowed mostly to the IT sector but have yet to manifest in job-intensive sectors like tourism and construction. FDI inflows as a share of GDP declined significantly during the past decade in spite of a competitive workforce. 'The diaspora is a huge comparative advantage that Armenia has because they invest here and they often take risks that a foreign direct investor who doesn't have the emotional ties with Armenia wouldn't take,' Geginat says. 'And that's been a great source of resilience for the Armenian economy.' Another challenge affecting Armenia's economic potential is the persistent gender inequality in some areas, which is 'a cost to the economy,' according to Geginat. Over 50% of women aged 25-29 are neither working nor studying. 'All of that human capital that you have incorporated in these wonderful women in Armenia is not being used to boost the economy,' she says. While agriculture has been touted by the World Bank as a promising export sector for Armenia, it still faces significant challenges in meeting necessary standards, Geginat says. 'Armenian products are usually produced just for the internal market or for Russia,' she explains. 'So, in terms of standards, it needs to reach higher to be able also to be exported into other markets and reach that diversification.' Farmers also have to prepare for 'potential bigger competition coming from an opening of the borders' as Armenia continues to negotiate a peace treaty with Azerbaijan and explores renewed dialogue with Turkey, according to Geginat. Other areas identified for continued investments and growth include renewable energy, climate-resilient initiatives, and water infrastructure. The World Bank helped create the Lifeline Road Network Improvement Project to improve road accessibility in rural parts of the country. In the decade since its launch, over 900 kilometers of community roads have been newly built or rehabilitated. In terms of pollution, there remains an excess of industrial waste from the Soviet Union era to address, as well as tackling air pollution by cleaning the Nairit Industrial Plant in Yerevan, implementing air monitoring frameworks and reforesting the country. 'A lot has happened in terms of moving important things forward and the agenda of putting money and financing to it, but the implementation is still to be done,' Geginat says.
The Market Online
04-07-2025
- Business
- The Market Online
Manganese X Energy energized by G7 Critical Minerals Action Plan
Manganese X Energy Corp. (TSXV:MN) has announced a significant boost for its flagship Battery Hill Manganese Project following the release of Canada's G7 Critical Minerals Action Plan The Action Plan, introduced by the Prime Minister's Office, seeks to position Canada as a global leader in securing responsible and sustainable supply chains for critical minerals Battery Hill's choice location in New Brunswick and its alignment with national and international clean energy goals make it a compelling candidate for future investment and development Manganese X Energy stock (TSXV:MN) last traded at $0.06 This content has been prepared in collaboration with Manganese X Energy Corp., a third-party issuer, and is intended for informational purposes only. Manganese X Energy (TSXV:MN) has announced a significant boost for its flagship Battery Hill Manganese Project following the release of Canada's G7 Critical Minerals Action Plan, unveiled during the G7 Summit in Kananaskis, Alberta. The Action Plan, introduced by the Prime Minister's Office, seeks to position Canada as a global leader in securing responsible and sustainable supply chains for critical minerals — the building blocks of clean energy, battery technologies, and economic resilience. Among the minerals spotlighted is manganese, a key component in next-generation battery production and a central focus of Manganese X's operations. 'This Action Plan specifically encourages investment in mining and processing projects like ours,' Martin Kepman, CEO of Manganese X said in a news release. 'It's a clear signal that Battery Hill is on the right track and aligned with both Canada's and the G7's vision for critical minerals'. The G7 Critical Minerals Action Plan outlines several strategic priorities: Mobilizing investment to overcome permitting and financing barriers in mining and processing to overcome permitting and financing barriers in mining and processing Supporting local value creation and environmentally responsible mining practices and environmentally responsible mining practices Encouraging collaboration among governments, Indigenous communities, industry, and local stakeholders among governments, Indigenous communities, industry, and local stakeholders Promoting innovation in mineral processing, recycling, and sustainable supply chains For Manganese X, the timing couldn't be better. The company is preparing to launch its Pre-Feasibility Study (PFS) for Battery Hill, a project that could position it as the first publicly traded company in Canada and the U.S. to commercialize EV-compliant high-purity manganese. Battery Hill's choice location in New Brunswick and its alignment with national and international clean energy goals make it a compelling candidate for future investment and development. As the global demand for electric vehicles and renewable energy storage accelerates, so too does the need for secure, domestic sources of critical minerals like manganese. With Canada's renewed commitment to critical mineral development, the question now becomes: Could Battery Hill emerge as a key contributor to the North American critical minerals supply chain? Manganese X Energy Corp. intends to supply high-purity manganese to the lithium-ion battery and other alternative energy industries. Manganese X Energy stock (TSXV:MN) last traded at $0.06. Join the discussion: Find out what everybody's saying about this manganese stock on the Manganese X Energy Corp. Bullboard and check out Stockhouse's stock forums and message boards.
Cision Canada
02-07-2025
- Business
- Cision Canada
Claudine Bouchard appointed President and Chief Executive Officer of Hydro-Québec Français
MONTRÉAL, July 2, 2025 /CNW/ - It is with great pleasure that Hydro-Québec's Board of Directors confirms the appointment of Claudine Bouchard as President and Chief Executive Officer. Executive Vice President and Chief Operating and Infrastructure Officer since September 2023, Claudine Bouchard has been with Hydro-Québec for over 25 years, including five as a member of senior management. A visionary and strategic leader, Ms. Bouchard has been leading the modernization and development of our energy system and is one of the architects of the Action Plan 2035. A seasoned manager who is close to her teams, Claudine Bouchard has a results-driven approach. She has led major optimization and transformation initiatives, including a plan to improve service quality that reduced outages by 50% in 2024. Today, she oversees the management of $100 billion in assets, including 88 hydropower generating stations and 264,000 km of power lines, as well as the construction of all new infrastructures. She is also playing a major role in the agreement with Newfoundland and Labrador. This appointment is the result of a rigorous recruitment process carried out by Hydro-Québec's Board of Directors in collaboration with the Québec government. Quotes "Hydro-Québec will play a central role in Québec's economic future, with its $200 billion infrastructure plan that we continue to move forward with. Wind power projects are being developed in the regions, and we are finalizing the historic agreement with Newfoundland and Labrador. We need a strong leader capable of delivering results. Claudine Bouchard knows the company inside out. She has clearly demonstrated that she knows how to get things done, bring teams together and lead concrete transformations. I am convinced she has what it takes to lead Hydro-Québec in this new phase of its development." François Legault, Premier of Québec "Ms. Bouchard's career at Hydro-Québec has been truly exceptional. Few people know more about Hydro-Québec than its new President and CEO. I'm delighted that Ms. Bouchard, who is both a visionary and a pragmatist, is taking the helm of this great institution at such a key moment in its history. Together, we will continue to implement our ambitious action plan, which will enable Hydro-Québec to spearhead the energy transition, enhance and diversify energy generation, and create major economic spinoffs for Québec. Together, we'll make Québec greener and more prosperous." Christine Fréchette, Minister of Economy, Innovation and Energy and Minister Responsible for Regional Economic Development "We are delighted that Claudine Bouchard has agreed to lead Hydro-Québec as CEO at a pivotal moment in our history. The top priority over the next few years is the implementation of the Action Plan and the Churchill River hydroelectric development. Thanks to her leadership and experience, Claudine is the ideal person to successfully pilot these major projects. She masters the technical complexity of operations and embodies the social mission of our great public institution. Her proven leadership, strategic vision and commitment to the values of excellence and responsibility will be key to driving our growth in a rapidly evolving energy environment. Very early on in the process, it became clear that Ms. Bouchard was the ideal person to guide us through this new chapter. Manon Brouillette, Chair of the Board of Hydro-Québec "I am honoured by the mandate entrusted to me. It's a great privilege to lead this company, which has so profoundly marked Québec's history, and which will play a key role in its development for decades to come. I am deeply committed to the vision behind our plan. Together with our teams, I will dedicate myself to fully implementing it for the benefit of our customers and all Quebecers." Ms. Bouchard will officially take office on Saturday, July 5, 2025.
