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AgroNat receives 11 proposals for school gardening programme

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Agro National Corporation (AgroNat) has received 11 proposals from schools interested in participating in its school gardening programme.

AgroNat’s school gardening programme was launched in conjunction with Agriculture Day 2021 The programme is designed to increase the interest of students in agriculture and has been successfully conducted at Kandoodhoo School, Thaa Atoll. As part of the programme, lettuce, okra and cucumber are grown in the school.

AgroNat accepted proposals for the school gardening programme in June and July. AgroNat said five schools will be selected for the programme this year, adding the chosen proposals will be announced soon and agreements will be signed with the schools by the end of the month. The company plans to begin the programme in three schools, including one in the Greater Male’ Region.

AgroNat is conducting the school gardening programme as part of its corporate social responsibility (CSR). Under the programme, the company will provide training and funding to establish a farm in the schools and will purchase their agricultural produce. It will also focus on implementing a high degree of participation from students to instil love and enthusiasm for the agricultural sector.

Source: psmnews

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MPL signs with three companies for Sea-to-Air Cargo Transshipment services

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Maldives Ports Limited (MPL) has entered agreements with three companies to inaugurate the new Sea-to-Air Cargo Transshipment services, marking a significant development for the company. The agreements were signed with Maldives Airport Company Limited (MACL), Maldives State Shipment (MSS), and Turkish Airlines during a special signing ceremony held in Meerumaa.

Turkish Airlines signed an agreement with MPL to serve as a cargo partner for the Sea-to-Air Cargo Transshipment. Managing Director of Expedite Maldives Ali Thoriq signed the agreement. Expedite Maldives is the designated agent of Turkish Airlines in Maldives. Additionally, MPL signed contracts with MSS designating their role as a carrier partner, Managing Director of MSS with Ahmed Shareef signing on behalf of the company. Furthermore, MPL finalised agreements with MACL, outlining collaborative efforts to provide Sea-to-Air Cargo Transshipment services. Chief Commercial Officer of MACL Mohamed Mihad signed the agreement.

During the signing ceremony, CEO of MPL Mohamed Wajeeh highlighted initiatives and projects entrusted to the company by President Dr. Mohamed Muizzu, aimed at enhancing the country’s economic growth. He expressed confidence that the transshipment services introduced by MPL would have a positive impact on the economy, including increased revenue. Efforts to accomplish these tasks are currently underway.

Regional Cargo Manager of Turkish Airlines Bilal Okuch discussed plans to collaborate with MPL to establish the Maldives as a prominent destination for Sea-to-Air transshipment services. Okuch emphasised the need for a hub capable of meeting airlines’ demands, with the aim of shifting operations from Sri Lanka to the Maldives.

MACL and MSS expressed gratitude for the partnership with MPL in a project targeting economic growth and expansion of cargo services. Both companies anticipate significant changes within the industry.

MPL officially announced the commencement of Sea-to-Air Cargo Transshipment services on March 15. This Hybrid Model, provided in collaboration with MACL and other international airlines, aims to meet demands within the commercial industry efficiently. MPL highlighted the key benefit of increased flights to various countries resulting from this service, typically offered by foreign countries to expedite the export process.

Source(s): PsmNews

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Asia remains attractive destination for global investment

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BOAO, Hainan, March 27 (Xinhua) — Asia remains a dynamic and attractive destination for global investment, said attendees at a sideline forum of the Boao Forum for Asia (BFA), which convenes its 2024 annual conference in Boao, a resort town in southern China’s Hainan Province.

According to the forum’s Asian Economic Outlook and Integration Progress flagship report, Asian economies demonstrated strong resilience in investment activities in 2022. Foreign direct investment (FDI) flows into Asia-Pacific economies amounted to 809.4 billion U.S. dollars, growing by 6.76 percent over the previous year and accounting for 62 percent of international FDI inflows.

Asia has been a significant beneficiary of FDI, said Shamshad Akhtar, Federal Minister for Finance, Revenue and Economic Affairs of Pakistan, while noting the role of FDI in Asia’s development at the sub-forum with a theme of “Investing the Future of Asia.”

It is important to recognize that Asia, particularly emerging markets, is now on its own development momentum. Asia have become the world’s manufacturing and trade hub supported by foreign capital and investments, she noted.

In 2022, Asian economies attracted a total of 8.8 trillion U.S. dollars in portfolio investment, and China’s stock of portfolio investment surpassed 1 trillion U.S. dollars for the first time, said the report.

Speaking at the forum, Charles Dallara, a member of the Board of Directors of Partners Group, said foreign investments are supporting the global market developments and Asia is really a dynamic and attractive location for investments, especially FDI.

Among Asian economies, China is a very attractive destination for FDI, he said, adding that at the same time, a large amount of capital from China has flowed to other countries and many Chinese businesses and enterprises are investing in the United States, Europe, Japan and Southeast Asia.

Officials and experts also voiced opinions on how to boost investor confidence, improve the investment environment, and enhance investment destinations’ attractiveness in Asia.

Geopolitical influence, rule of law, market potential, industrial system, labor forces, market players, and policy support are factors that affect the inflow of FDI, said Xu Zhibin, deputy administrator of the State Administration of Foreign Exchange.

Governments also play an important role in attracting global capital, said Shimizu Tokiko, assistant governor of the Bank of Japan, adding that Asian countries have resilient economy and governments should have consistent policy arrangements and provide a clear map on its own development for investors.

According to the report, the Asian economy is expected to grow by around 4.5 percent in 2024, surpassing that of 2023, and continue to be the largest contributor to global economic growth.

With a founding purpose to promote economic integration in Asia, the mission of the BFA is to pool positive energy for the development of Asia and the world. The BFA annual conference 2024 runs from March 26 to 29.

Source(s): Xinhua

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Global business leaders: China will continue to be a key contributor to global economic growth

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Global business leaders praised China’s decision to pursue high-quality development and expressed confidence in China’s economic potential, saying China will continue to be a key contributor to global economic growth.

They made the remarks at the China Development Forum 2024 in Beijing on Sunday, during which international scholars, entrepreneurs, government officials and representatives from international organizations discussed key issues concerning the development of China and the world.

In her speech, International Monetary Fund Managing Director Kristalina Georgieva said that China is transforming its economy from high rates to high quality of growth and that high-quality development ultimately depends on reforms.

She projects over 3 percent growth for 2024 and the following year for the global economy and urged deep structural reforms for all countries to enhance the conditions for entrepreneurship, innovation and economic performance as the world is facing low productivity, high debt levels and geopolitical tensions.

The IMF head called for China to implement “a comprehensive package of pro-market reforms,” saying China could grow considerably faster with reforms starting with sound macroeconomic fundamentals, and the additional growth would add $3.5 trillion to the Chinese economy.

World Bank President Ajay Banga also mentioned the global challenges, saying they intensified global inequality. He noted that developing countries faced an “unimaginable” gap with 1.1 billion young people expected to enter the workforce in the next decade while the expected jobs being created would only be 325 million. However, he also cautioned that it’s just a prediction, not an actual destiny, adding that China’s “remarkable journey” in the past five decades was a testament to what is possible.

Like Georgieva, Banga also emphasized the importance of reforms. He said that since China’s reform and opening up in 1978, it has lifted 770 million rural residents out of poverty, and due to reform, China fundamentally changed its development trajectory, with more than 8 million jobs created every year for over three decades, sharply reducing global poverty from 44 percent to 9 percent. Once a major World Bank borrower, China is now one of the bank’s biggest donors, Banga added.

The IMF head presented opportunities to boost productivity and improve living standards citing digital and green transformations. She acknowledged China’s leading position in artificial intelligence, saying China’s well-developed digital infrastructure provides a head start.

In terms of advancing the green economy, she described China as a global leader in deploying renewable energy with enormous potential, adding that China was making rapid progress in green mobility.

She also highlighted China’s contributions to assist the IMF in providing affordable long-term financing to low-income countries and states undertaking reforms to reduce risks to prospective balance of payments stability, including those related to climate change and pandemic preparedness, and capacity-development initiatives.

“China’s remarkable development success has delivered tremendous benefits to hundreds of millions of people,” she said and expressed her confidence that China and the world can tackle the current challenges and create a more prosperous future for all through cooperation.

Apple’s Tim Cook also attended Sunday’s forum. The CEO of the U.S.’ largest smartphone empire was in Shanghai to open a new Apple store this week, and he met with China’s Commerce Minister Wang Wentao on Friday.

“I think China is really opening up, and I’m so happy to be here,” Cook told a reporter from CGTN at the forum on Sunday.

He also told the China Media Group that Apple would keep increasing its investment in research and development in China, adding that Apple’s flagship mixed-reality headset, the Vision Pro, would hit shelves in China by the end of this year.

Source(s): CGTN

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