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IOL News
2 days ago
- Business
- IOL News
President Ramaphosa to host President of Austria, Alexander van der Bellen, in Pretoria
President Cyril Ramaphosa will this week host Federal President of the Republic of Austria, Alexander van der Bellen. Image: bundespraesident President Cyril Ramaphosa will on Friday host the Federal President of the Republic of Austria, Alexander van der Bellen, at the Union Buildings in Pretoria. Ramaphosa's spokesperson, Vincent Magwenya, said the State Visit presents an opportunity to consolidate the long-standing and strong relationship between South Africa and Austria. The bilateral relations span several sectors, particularly in the fields of arts and culture, higher education, renewable energy, trade and investment, and waste management. 'South Africa and Austria maintain cordial and cooperative bilateral relations that are rooted in mutual respect, shared values on multilateralism, and growing economic and cultural exchanges,' said Magwenya. 'Though geographically distant and differing significantly in size and economic structure, the two nations have found common ground in international cooperation, trade, and sustainable development.' Ramaphosa and Van der Bellen will also address a plenary session of the Business Forum on the afternoon of the State Visit, on Friday. Video Player is loading. Play Video Play Unmute Current Time 0:00 / Duration -:- Loaded : 0% Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Background Color Black White Red Green Blue Yellow Magenta Cyan Transparency Opaque Semi-Transparent Transparent Window Color Black White Red Green Blue Yellow Magenta Cyan Transparency Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Dropshadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Advertisement Next Stay Close ✕ Ad loading According to the Austrian Embassy in Pretoria, the bilateral relations have a long history, and in 1962, the Austrian delegation in South Africa was upgraded to a full embassy. 'Bilateral relations between Austria and South Africa can be described as very good. Austria is perceived as an important economic partner with high technological expertise and as a significant source of tourists. Austria is actively engaged in various sectors such as economy, energy, culture, and scientific exchange. South Africa, being a BRICS founding member and a key advocate for Africa, is considered a crucial partner in the Global South,' the Austrian Embassy states on its website. In 2023, Federal Minister for European and International Affairs of the Republic of Austria, Alexander Schallenberg visited South Africa in December 2023, leading a delegation of business-representatives and journalists. During the visit, he held discussions with South Africa's then Minister of International Relations and Cooperation, Naledi Pandor, and participated in a joint economic forum with over 100 corporate representatives. Additionally, Minister Schallenberg inaugurated the Austrian Cultural Forum (centre) Pretoria, the first of its kind in Sub-Saharan Africa. On March 14, 2023, Ambassador Romana Königsbrun presented her credentials to President Ramaphosa. IOL News
BusinessToday
18-06-2025
- Business
- BusinessToday
Johor–Singapore SEZ Gears Up To Be ASEAN's ‘Mini Korea'
Malaysia is pushing for the Johor–Singapore Special Economic Zone (JS-SEZ) to go beyond traditional cross-border investments, aiming to position the bilateral zone as a regional high-tech manufacturing and innovation hub with global relevance. Deputy Minister of Investment, Trade and Industry Liew Chin Tong told the Malaysia–Singapore Chinese Chambers of Commerce Business Forum that the JS-SEZ must not become 'merely a relocation of low-end manufacturing from Singapore to Johor,' but should instead serve as a platform for deep industrial integration and advanced production. The minister's remarks signal potential investment opportunities in strategic sectors such as semiconductors, renewable energy technologies, artificial intelligence and advanced materials; areas he said are now central to global competition. Liew said Malaysia and Singapore both maintain over 20% of GDP from manufacturing, a rare trait among semi-advanced economies, giving them a unique industrial base to leverage. He proposed a joint ecosystem capable of producing regional champions akin to Samsung, Huawei or TSMC, which could reshape Southeast Asia's role in global supply chains. 'Together, we can serve as a mini Korea in the global supply chain,' he said, pointing to collaborative value-add potential that goes beyond their geographical size. The business case also hinges on aligning financial markets and regulations with industrial policy. Liew highlighted the need for a 'robust financial ecosystem' that supports technology investments, signalling future roles for Malaysian capital markets and regulators like the Securities Commission to back industrial growth. His call for more strategic integration comes as firms reassess supply chains amid global uncertainty, with Malaysia and Singapore potentially benefitting from nearshoring and diversification trends. With formal JS-SEZ agreements signed earlier this year, industry players and investors will be watching closely for follow-up policies and incentives that translate political intent into bankable cross-border projects. Related
Zawya
18-06-2025
- Business
- Zawya
Egypt, Serbia approve free trade agreement to boost bilateral economic cooperation
Arab Finance: Prime Minister Mostafa Madbouly announced the ratification of the free trade agreement between Egypt and Serbia, under which customs duties and quantitative restrictions on imports and exports of goods will be gradually eliminated, as per a statement. The announcement was made during the Egyptian-Serbian Business Forum, which was attended by Serbian Prime Minister ?uro Macut and a high-level delegation visiting Egypt. In addition to eliminating tariffs, the agreement includes provisions to enhance cooperation in services and investment, promote joint projects, enable technology transfer, and facilitate trade dispute resolution, all aimed at creating a favorable climate for bilateral investment. In his speech, Madbouly noted that trade between the two countries has more than tripled from $94 million in 2022 to approximately $300 million in 2024. He also expected this trade exchange to grow further after Egypt's House of Representatives approved the free trade agreement. Madbouly added that this agreement complements Egypt's existing network of free trade deals with the European Union (EU), Arab countries, Africa, the UK, Türkiye, the US, and others, collectively granting access to markets of over three billion consumers. He underscored Egypt's modern logistics infrastructure as a key advantage for tripartite cooperation, allowing for joint manufacturing and duty-free exports with reduced transport costs. Egypt also aims to share its experience in executing large-scale infrastructure and fourth-generation cities to support Serbia's preparations for Expo Belgrade 2027. Furthermore, Madbouly called on private sector representatives from both countries to seize the investment and partnership opportunities available. The Prime Minister also emphasized Egypt's readiness to support Serbian investors across various sectors, including industry, agriculture, energy, infrastructure, and major projects. © 2020-2023 Arab Finance For Information Technology. All Rights Reserved. Provided by SyndiGate Media Inc. (
The Sun
17-06-2025
- Business
- The Sun
Malaysia, Singapore need robust financial ecosystem to unlock joint industrial platform
KUALA LUMPUR: Malaysia and Singapore need a robust financial ecosystem with next-generation technologies to unlock a powerful joint industrial platform, said Deputy Minister of Investment, Trade and Industry (MITI) Liew Chin Tong. He said the two countries are uniquely positioned, with manufacturing still accounting for more than 20 per cent of gross domestic product (GDP). 'It encompasses new materials such as silicon carbide and gallium nitride, new chip architectures, and emerging fields including artificial intelligence and quantum computing. 'To support these advancements, we need a robust financial ecosystem, one where regulatory bodies like the Securities Commission are aligned with technological and industrial priorities,' he said in his keynote speech at the Malaysia-Singapore Chinese Chambers of Commerce Business Forum today. Liew noted that Singapore retains a significant manufacturing base, while Malaysia offers complementary capabilities. 'We should aspire to build our own ecosystem, born out of a Malaysia–Singapore partnership. 'Together, we can serve as a mini South Korea in the global supply chain, adding value far beyond our geographic size,' he added. Liew also commended the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) and the Singapore Chinese Chamber of Commerce and Industry (SCCCI) for bringing the two nations closer together.
Zawya
09-06-2025
- Business
- Zawya
Visit to Japan by H.E. Ms. Maria Benvinda Delfina LEVI, Prime Minister of the Republic of Mozambique
H.E. Ms. Maria Benvinda Delfina LEVI, Prime Minister of the Republic of Mozambique will pay a visit to Japan from June 14 to 18. During her stay in Japan, Prime Minister Levy will participate the National Day Event of Expo 2025 Osaka, Kansai, Japan, as official guest of the Government of Japan as well as Japan-Mozambique Business Forum. The visit of Prime Minister Levy is expected to further develop the bilateral relations between Japan and Mozambique. Distributed by APO Group on behalf of Ministry of Foreign Affairs of Japan.
