Indonesian Criminal Code won’t harm investment

JAKARTA, Dec 12, 2022 – (ACN Newswire) – The dissemination team spokesperson of the Draft Law on Criminal Code (RKUHP) Albert Aries clarified the fundamentally misleading news related to the adultery article, which is considered to harm Indonesia's tourism and investment sectors.

"The adultery article in the new Criminal Code that takes effect three years after its stipulation is an absolute criminal complaint. This means that only the husband or wife (for those bound by marriage) or the parents or children (for those not bound by marriage) can make a complaint. No one else can report or take the law into their own hands. There will be no legal process without a complaint from the entitled and directly harmed parties," Aries said in his statement on Thursday (Dec 8).

The articles of the Criminal Code that have recently attracted the attention of foreign tourists, including investors, are Article 411 concerning adultery, Article 412 concerning live-in relationships, and Article 424 concerning drinks and intoxicants.

Minister of Tourism and Creative Economy, Sandiaga Uno, has said he believes the newly passed Criminal Code (KUHP), specifically its provisions on live-in relationships, will not affect tourism and creative economy investment in Indonesia. "I am very confident that we can get US$68 billion (in foreign investment), and we can create 2 million jobs in this sector. But, of course, we need support," he informed here on Saturday (Dec 10).

According to Uno, investors need legal opinion before investing in Indonesia. The legal opinion must give confidence in safe. Uno added that the ministry will still need support and assistance in terms of legal certainty to convince investors to invest.

Upholds Human Rights

Aries also stated that it is not true that Indonesia's Criminal Code is not following human rights. "We certainly respect United Nations (UN) concern on equality, privacy, religious liberty, and journalism issues. On that basis, the criminal code regulates all of them by paying attention to the balance between human rights and human obligations," Aries said.

The reason is that the legal politics contained in the Criminal Code are aimed at respecting and upholding human rights based on the ideals of Pancasila (the Five Principles), BhinnekaTunggal Ika (Unity in Diversity), the Unitary State of the Republic of Indonesia, and the 1945 Constitution.

He underlined that the Criminal Code does not discriminate against women, children, and other minority groups, as well as the press.

One example is the adoption of Article 6 letter d of Law Number 40 of 1999 on the Press into the Elucidation of Article 218 of the Criminal Code so that criticism is not punished because it is a form of supervision, correction, and advice on matters relating to the public interests.

According to Aries, it is also incorrect to say the Criminal Code legitimizes negative social attitudes towards adherents of minority beliefs. "The regulation of criminal acts against religion and belief in the Criminal Code has been reformulated by taking into account the International Covenant on Civil and Political Rights (ICCPR), as inputs from the civil society," he said.

Previously, the Indonesian House of Representatives (DPR RI) passed the Draft Law on Criminal Code into law in a plenary meeting chaired by the Indonesian House of Representatives Deputy Speaker Sufmi Dasco Ahmad on Tuesday (Dec 6).

In the formulation of the Criminal Code, meaningful participation as the fulfillment of civil societies' rights to be heard, explained, and consideration has been given as much as possible.

–Antara

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Society Pass / NusaTrip Expands Flight Routes and Fares Offering through Connection with Regional Low-Cost Carriers: JetStar Airways, VietJet Air, NokAir, Thai Smile Air, and Thai Lion Air

SINGAPORE, Dec 6, 2022 – (ACN Newswire) – NusaTrip, the Indonesia-based online travel agent (OTA) and travel platform of Society Pass Incorporated ("SoPa") (Nasdaq: SOPA), Southeast Asia's (SEA) leading data-driven loyalty, fintech and e-commerce ecosystem, today announces the expansion of NusaTrip's +500 global airline partners network by adding JetStar Airways, VietJet Air, NokAir, Thai Smile Air, and Thai Lion Air. With the addition of these low-cost carriers, users can enjoy more flight content, travel options, competitive pricing, and convenience in booking multiple trips / airlines through NusaTrip's consolidator and distribution technology platform, NusaXchange.

NusaXchange connects worldwide flight content through streamlined integration with low-cost and full-service airlines from multiple points of sale and enables its global distribution at ease. NusaTrip's flight contents include a wide range of domestic and international inbound-outbound routes.

NusaTrip's CEO, Johanes (Joe) Chang underlines that the company continuously improves the richness of flight content in its NusaXchange platform, to cater to a broader range audience that increasingly demands a more varied and personalised experience. "Direct connectivity with more airline partners means more inventory to offer, more reliable and faster responses, as well as more competitive pricing for our customers and distribution partners".

Low-cost carriers are gaining momentum during the recovery period of the COVID-19 pandemic. As elaborated in the Low Cost Airlines Market By Purpose, By Destination, By Distribution Channel: Global Opportunity Analysis and Industry Forecast, 2016-2030, the value of the global low-cost airlines market is projected to grow from USD 155 billion in 2016 to USD 440 billion by 2030, growing at a CAGR of 10.4% from 2022 to 2030.

NusaTrip's newest airline partners of choice are the leading low-cost carriers in their respective regions. Carried more than 250 million passengers worldwide since 2004, JetStar serves more than 5,000 flights to over 85 destinations every week – across Australia, New Zealand, Asia, and the Pacific. VietJet, together with its affiliate, ThaiVietJet, operates a total of 197 domestic routes in Vietnam and Thailand, as well as international routes to Singapore, Malaysia, Myanmar, Indonesia, Cambodia, Taiwan, South Korea, China, Japan, and India. NokAir, a subsidiary of Thai Airways International, is a SkyTrax-certified 3-star low-cost airline and offers flights to 25 destinations throughout Thailand and Myanmar.

NusaTrip offers ease of travel options from arranging multiple airlines / routes to serving personalised flight preferences. NusaTrip's one-stop booking platform allows users of different travel styles to prepare their itineraries easily. Customers who book last-minute air tickets and hotel rooms benefit from a wide range of airline selections, schedule options, and trip destinations. Travel connoisseurs may also take advantage of convenience in pre-flight arrangements, including selecting a preferred seat, meals, or extra baggage.

As the travel business vertical, NusaTrip's industry leadership and initiatives simultaneously strengthens the Society Pass ecosystem and broaden the company's network in the fast-growing Southeast Asia markets.

About JetStar Airways

JetStar serves more than 5,000 flights to over than 85 destinations every week – across Australia, New Zealand, Asia and the Pacific. Since launched in Australia in 2004, the airline has carried 250 million+ passengers worldwide.

The airline operates an extensive domestic network as well as regional and international services from its main base at Melbourne Airport, using a mixed fleet of the Airbus A320 family and the Boeing 787 Dreamliner. For more information, please check out: https://www.jetstar.com/id/en/about-us.

About VietJet Air

Vietjet Air's fleet consists of nearly 100 new-generation A320, A321 and A330 aircraft, with an average fleet age of 2 to 3 years, making it one of the airlines with the newest fleet in the region and the world. Together with its affiliate, Thai Vietjet, the airlines operate more than 150 domestic routes in Vietnam and Thailand, as well as international routes to India, Japan, South Korea, China, Singapore, Malaysia, Indonesia, Taiwan and Kazakhstan, etc.

As a new-age carrier, Vietjet has not only revolutionized the aviation industry in Vietnam but also been a pioneering airline across the region and around the world. With a focus on cost management ability, effective operations and performance, Vietjet offers flying opportunities with cost-saving and flexible fares as well as diversified services to meet customers' demands. For more information, please check out: https://www.vietjetair.com/en.

About Nok Air

Nok Air is a new low-cost airline registered under Nok Airlines Public Company Limited. It is a joint venture between public and private investors. Nok is the Thai language for 'Bird'. Nok Air offers the largest number of domestic routes within Thailand along with expanding Asian destinations. For more information, please check out: https://nokair.com.

About NusaTrip

Founded in 2013, NusaTrip is an IATA-licensed online travel agency that serves both local and global customers and partners by optimizing cutting-edge technology and providing quality customer-centric support team-as-a-service. NusaXchange platform is the travel technology built to consolidate worldwide flight content through streamlined integration with low-cost and full-service airlines from multiple points of sale and enables its global distribution at ease.

NusaTrip is a member of Society Pass Incorporated (Nasdaq: SOPA) ecosystem, with headquarters in Jakarta and representative offices in Singapore, Thailand, Vietnam, and the Philippines. For more information, please check out: https://www.nusatrip.com.

About Society Pass Inc

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in the Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan.ph, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
Rosa Milyarna – NusaTrip
rosa@NusaTrip.com

PRecious Communications
sopa@preciouscomms.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Hospitality 360 Expands Hotel Management Portfolio

KUALA LUMPUR, Dec 5, 2022 – (ACN Newswire) – Hospitality 360 Sdn Bhd (H360), a Malaysian hotel management and consulting company, is pleased to announce the signing of a strategic partnership with Wyndham Hotels and Resorts to expand their portfolio of hotels, resorts, and serviced apartments across Malaysia.

Yang Berbahagia Dato' Indera Naresh Mohan, Group Chief Executive Officer of Hospitality 360 Sdn Bhd; Ms. Teng Car Men, Executive Director of Jesselton Newcity Development Sdn Bhd and Mr. Matt Holmes, Vice President & Head of Development of Wyndham Hotels & Resorts (South East Asia and Pacific Rim) [L-R]

As H360 and Wyndham memorialize their common objective to continue their commercial dealings and deepen their business relations, we are witnessing the beginning of a new chapter in their illustrious partnership. Under the terms of their partnership agreement, H360 will deliver at least 15 hotels signed as franchises under various Wyndham-owned brands over the course of the next six years.

To mark this illustrious partnership, there were several Memorandum of Understandings (MoUs) and agreements for H360 to manage, under various Wyndham brands, 4 hotels and luxury serviced apartments in Sabah.

The MoUs were signed between Wyndham and the developers of the hotel properties, namely, Jesselton Newcity Development Sdn. Bhd; and Sumbangan Aru KK Sdn. Bhd; for the properties that will in turn be managed as Wyndham Grand, Dolce by Wyndham, and Ramada by Wyndham brands. Construction of these hotels, totalling more than 2000 rooms will commence in phases starting in 2023 and is expected to complete by 2027.

In addition to the pipeline of current signings, H360 through the newly announced strategic partnership with Wyndham also has other hotel properties in the pipeline. They are namely our future flagship property, the Wyndham Grand TRX KL with more than 190 rooms, developed by Core Precious Development Sdn Bhd in which the construction is underway and due to complete by Q4 2023; and the newly built Ramada by Wyndham The Straits Johor Bahru with more than 190 rooms which will be operational by Q1 2023.

Furthermore, the under construction, 85 rooms luxury serviced apartment project Isola KLCC, developed by OCR Berhad, the 152 rooms Shahzan Kuantan in Pahang, the 204 rooms Trinidad Suites Puteri Harbour in Johor and three more properties namely the 88 rooms Lisbon Melaka, the 158 rooms Trigo Kuala Lumpur, and the 90 rooms Shahzan Frasers Hill are all expected to sign to Wyndham's Trademark Collection brand.

Looking ahead and through the various agreements, we target to achieve a portfolio of approximately 5000 rooms all over Malaysia by 2027.

Group Chief Executive Officer of Hospitality 360 Sdn Bhd, Dato' Indera Naresh Mohan said, "This is an exciting time for us as we expand our hotel management portfolio to more locations around the country. The properties we will manage are targeted at different segments of the market, from leisure travellers and families to business travellers. We are looking forward to working with Wyndham to ensure all our guests get a full and holistic experience in our managed properties."

Vice President of Development, South East Asia & Pacific for Wyndham, Matt Holmes said, "By signing this strategic agreement with Hospitality 360 Sdn. Bhd, we continue to grow our operational presence in Malaysia. This move will position Wyndham strongly to tap on the exponential rise in travel demand which has accelerated since early 2022 as borders reopen across key markets in Asia Pacific. Looking ahead towards the future, we are excited and happy to strengthen the partnership with Hospitality 360 in Malaysia and deliver our iconic 'Count on Me' service to our business and leisure guests."

Hospitality 360 Sdn Bhd: http://hospitality360.my/

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

L’Oreal Groupe, together with Hotel Shilla and Anchor Equity Partners, launches SHIHYO, a newly created luxury beauty brand

SHANGHAI, Nov 21, 2022 – (ACN Newswire) – L'Oreal Groupe, together with Hotel Shilla and Anchor Equity Partners, is launching a newly created luxury beauty brand 'SHIHYO' through Loshian, a third-party joint venture. This is the first time L'Oreal is launching a new beauty brand through a joint venture.

"SHIHYO" is a new luxury beauty brand launched by L'Oreal Groupe, together with Hotel Shilla and Anchor Equity Partners through a joint venture Loshian

SHIHYO, which means "the wisdom of time," is a newly created skincare beauty brand inspired by the Asian wisdom of the 24 seasons. SHIHYO embodies the healthy energy of nature, powered by herbal sciences.

The new brand is based on the naturality of 24 herbal ingredients harvested at the peak of each season, combined with proven efficacy based on scientific research and innovation. All formulas include the signature ingredient called ShiHyo24, a patented, nutrient-rich concentrate of the 24 herbal ingredients infused with fermented rice water and ginseng water.

SHIHYO offers 24 different types of ampoules featuring 24 herbal ingredients, along with other skincare products such as facial cleanser, essence, and cream, as well as scalp care products such as shampoo and conditioner.

SHIHYO leverages L'Oreal's longstanding beauty expertise, Hotel Shilla's luxury retail channels, and Anchor's robust financial business model. SHIHYO's 1st flagship store, the "Seoul Garden," will open in the coming months at The Shilla Seoul Hotel in Korea, with the ambition of engaging with consumers and offering an immersive experience with an extensive luxury beauty product range.

Cyril Chapuy, President of L'Oreal Luxe, said, "L'Oreal LUXE is very pleased to announce the launch of SHIHYO through a partnership with Hotel Shilla and Anchor Equity Partners. Rooted in an exceptional traditional wisdom and knowledge of naturality, SHIHYO represents the epitome of Asian luxury beauty. Empowered by science, SHIHYO delivers the highest skincare quality thanks to its signature patented ingredient, offering the most elevated luxury beauty experience."

In-Gyu Han, COO of Hotel Shilla, said, "SHIHYO is a luxury beauty brand that brings out the best of naturality and efficacy with seasonal ingredients directly sourced from local farmers in Korea. With our rich retail expertise married with L'Oreal's strong brand building capabilities, we believe SHIHYO will elevate the desire for natural, luxury beauty in Asia."

Sanggyun Ahn, Managing Partner of Anchor Equity Partners, said, "We are glad to join this partnership to support the growth of the most unique brand in Asia and globally. We have full confidence that SHIHYO will meet the discerning consumers' needs with new luxury beauty routines."

About L'Oreal Groupe

For over 110 years, L'Oreal, the world's leading beauty player, has devoted itself to one thing only: fulfilling the beauty aspirations of consumers around the world. Our purpose, to create the beauty that moves the world, defines our approach to beauty as inclusive, ethical, generous and committed to social and environmental sustainability. With our broad portfolio of 35 international brands and ambitious sustainability commitments in our 'L'Oreal for the Future' programme, we offer each and every person around the world the best in terms of quality, efficacy, safety, sincerity and responsibility, while celebrating beauty in its infinite plurality.

With 85,400 committed employees, a balanced geographical footprint and sales across all distribution networks (e-commerce, mass market, department stores, pharmacies, hair salons, branded and travel retail), in 2021 the Group generated sales amounting to 32.28 billion euros. With 20 research centers across 11 countries around the world and a dedicated Research and Innovation team of over 4,000 scientists and 3,000 tech professionals, L'Oreal is focused on inventing the future of beauty and becoming a Beauty Tech powerhouse. More information on https://www.loreal.com/en/mediaroom

About L'Oreal North Asia Zone

L'Oreal North Asia Zone was established in 2021 as L'Oreal Groupe regrouped the geographical scope of its zones to give greater coherence to consumer behaviour and to create synergy within the region. The North Asia Zone comprises of five geographically and culturally connected markets of Mainland China, Hong Kong, Taiwan, Japan and South Korea.

L'Oreal North Asia Zone is the second largest region within the Group, accounting for 30.5% of the Group's global sales in 2021. Situated in the most beauty intense region with more than one-third of the world's total beauty consumers, L'Oreal North Asia shapes the future of beauty with its innovation centers in Shanghai, Tokyo and Seoul, while investing in beauty tech transformation as one of the three beauty tech hubs globally. Here, our mission is to strategize, create and activate a powerful ecosystem around the North Asia Beauty Triangle as a competitive edge to unleash sustainable growth for all and inspire the world.

Media contact:
Linda YAN / linda.yan@loreal.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Society Pass Appoints Management Team for Nusatrip; Unveils New Nusatrip Logo, Features on Website/App and Plans for Society Pass’ Customer-Centric Digital Ecosystem and Loyalty Platform for Indonesia and in Southeast Asia

JAKARTA, Nov 9, 2022 – (ACN Newswire) – Society Pass Incorporated ("SoPa") (Nasdaq: SOPA), Southeast Asia's ("SEA") leading data-driven fintech and e-commerce ecosystem, today introduces the new Nusatrip CEO and announces its strategic plans moving forward, expanding Nusatrip business coverage throughout SEA. The recent acquisition of Nusatrip International Pte Ltd ("Nusatrip"), a Indonesia-based pioneer in the Online Travel Agent ("OTA") sector, extends Society Pass' reach into the booming SEA regional travel industry with a strong commitment to developing a vibrant online travel platform for both merchants and consumers in SEA.

Society Pass executives announces the appointment of Nusatrip's new CEO, Johanes (Joe) Chang, welcoming Nusatrip into Society Pass' growing ecosystem of technology enabled companies, joining the Society Pass team in its brand new Indonesia office in Jakarta and unveiling Nusatrip's new logo and features for its website and app. Dennis Nguyen, Society Pass Founder, Chairman and Chief Executive Officer, explains, "We are happy to announce the opening of Society Pass' and Nusatrip's Indonesia office as one of our important milestones in synergistically growing the OTA business within the Society Pass e-commerce ecosystem and loyalty platform. With his many years of experience in managing travel and technology companies, Joe will immensely contribute and drive Nusatrip to greater heights in the years ahead."

Society Pass steps into the Indonesia market with a big agenda; to strengthen its position as the pioneer of the next-generation digital ecosystem and loyalty platform in Indonesia and throughout SEA. SoPa looks to acquire attractively valued companies in SEA to join its next generation digital ecosystem with key focuses on loyalty, lifestyle, F&B delivery, telecommunications, digital media, and travel.

Patrick Soetanto, Society Pass Indonesia Country Manager, adds, "Jo will drive our journey in generating new revenue streams by integrating Nusatrip's robust technology and operational efficiency of its leading e-commerce travel platform into our ecosystem. We are reenergizing the OTA business in Indonesia and throughout SEA, to meet the increasing demand of pre-pandemic travel in the regions. More importantly, both Society Pass and Nusatrip aim to boost the travel and digital economy sectors in Indonesia."

Johanes (Jo) Chang, CEO, Nusatrip elaborates, "I would like to thank both Messrs. Nguyen and Soetanto for placing their trust in me to lead Nusatrip and am honored to take on the position as Nusatrip's new CEO. By integrating into the Society Pass fintech and e-commerce ecosystem, Nusatrip embarks on regional expansion and unlimited avenues to grow more channels and revenue streams. With strong support from Society Pass and partners, we are gearing up towards the recovery of the travel industry in Indonesia and SEA in 2023 and 2024."

Jo adds, "Nusatrip's mission is to become a world-class OTA and the most reliable partner for airlines and hotels, offering wide range of travel and tourism related products, services, and experiences to our customers and business partners globally. With our industry recovering from the pandemic, we will continue working within our digital ecosystem and loyalty platform to offer better travel products and services for our customers across SEA."

About Society Pass Inc

Founded in 2018 as a data-driven loyalty, fintech and e-commerce ecosystem in the fast-growing markets of Vietnam, Indonesia, Philippines, Singapore and Thailand, which account for more than 80% of the SEA population, and with offices located in Angeles, Bangkok, Hanoi, Ho Chi Minh City, Jakarta, Manila, and Singapore, Society Pass Incorporated (Nasdaq: SOPA) is an acquisition-focused holding company operating 6 interconnected verticals (loyalty, digital media, travel, telecoms, lifestyle, and F&B), which seamlessly connects millions of registered consumers and hundreds of thousands of registered merchants/brands across multiple product and service categories throughout SEA.

Society Pass completed an initial public offering and began trading on the Nasdaq under the ticker SOPA in November 2021. SOPA shares were added to the Russell 2000 index in December 2021.

SoPa acquires fast growing e-commerce companies and expands its user base across a robust product and service ecosystem. SoPa integrates these complementary businesses through its signature Society Pass fintech platform and circulation of its universal loyalty points or Society Points, which has entered beta testing and is expected to launch broadly at the beginning of 2023. Society Pass loyalty program members earn and redeem Society Points and receive personalised promotions based on SoPa's data capabilities and understanding of consumer shopping behaviour. SoPa has amassed more than 3.3 million registered consumers and over 205,000 registered merchants and brands. It has invested 2+ years building proprietary IT architecture to effectively scale and support its consumers, merchants, and acquisitions.

Society Pass leverages technology to tailor a more personalised experience for customers in the purchase journey and to transform the entire retail value chain in SEA. SoPa operates Thoughtful Media Group, a Thailand-based, a social commerce-focused, premium digital video multi-platform network; NusaTrip, a leading Indonesia-based Online Travel Agency; Gorilla Networks, a Singapore-based, web3-enabled mobile blockchain network operator; Leflair.com, Vietnam's leading lifestyle e-commerce platform; Pushkart.ph, a popular grocery delivery company in Philippines; Handycart.vn, a leading online restaurant delivery service based in Vietnam; and Mangan, a leading local restaurant delivery service in Philippines.

For more information on Society Pass, please check out:
Website at https://www.thesocietypass.com or
LinkedIn at https://www.linkedin.com/company/societypass or
Facebook at https://www.facebook.com/thesocietypass or
Twitter at https://twitter.com/society_pass or
Instagram at https://www.instagram.com/societypass/.

About Nusatrip

Founded in 2013, NusaTrip is an IATA licensed online travel agency that serves both local and global customers and partners by optimizing cutting-edge technology and providing quality customer-centric support team-as-a-service. In 2022, NusaTrip has officially joined the Society Pass (Nasdaq: SoPa) ecosystem, with headquarters in Jakarta and representative offices in Singapore, Vietnam, Philippines and Thailand. For more information, please check out: https://www.nusatrip.com/.

Cautionary Note Concerning Forward-Looking Statements

This press release may include "forward-looking statements," within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate", "believe", "estimate", "expect", "intend" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the SEC. All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus relating to the Company's initial public offering filed with the SEC. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

Media Contacts:
PRecious Communications
sopa@preciouscomms.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Club Med Celebrates 11.11 with Amazing Family Travel Deals

SINGAPORE, Nov 8, 2022 – (ACN Newswire) – Make it a year to remember as Club Med, the leader of all-inclusive holidays, is offering its limited time 11.11 holiday packages, where children below 8 years old can stay for free at sought-after destinations – from Snow resorts such as Club Med Sahoro and Club Med Tomamu in Hokkaido, Japan; to Sun resorts in Club Med La Plantation d'Albion and Club Med The Albion Villas in Mauritius; in Club Med Bali and Club Med Bintan in Indonesia; or Club Med Phuket in Thailand.

Happening from 7th November 2022 until 11th November 2022, the promotion applies for bookings with a minimum stay of 4-Days 3-Nights for any accommodation type (Superior, Deluxe or Suites) at Club Med La Plantation d'Albion, The Albion Villas, Phuket, Bintan or Bali, and for those booking a minimum stay of 5-Days 4-Nights in Deluxe rooms or Suites at Club Med Tomamu or Sahoro. The promotion will be valid for stays until 30th April 2023 – allowing the chance for families to not only plan for the upcoming year-end holidays, but also for future holidays too.

Being a pioneer of Kids & Family experiences since 1967 with its initial introduction of Mini Club Med +, a space for children 4-10 year olds to learn and grow while on vacation, the promotion aligns with Club Med's long-standing commitment to deliver unparalleled and meaningful holiday experiences for families. Especially with children's time being ever more occupied by anonymous screens, Club Med is the ideal destination for them to reconnect with families in the real world as the array of outdoor adventures, family-friendly offerings, lifestyle ambience and shows available at their resorts provides the opportunity for children to rediscover the joys of doing things together.

Parents will also be delighted as programmes and activities at Club Med are created to keep the children entertained throughout their stay. Recently, Club Med introduced Mini Club Med + [1] the evolution of its highly acclaimed Kids Club formerly known as Mini Club Med +, featuring a brand-new science-based framework inspired by Positive Education.

Developed in partnership with Professor Ilona Boniwell, an Expert in Positive Psychology & Positive Education and a world leader in the field of Positive Psychology, the new framework helps boosts a child's well-being and self-development by enhancing essential soft skills such as emotional intelligence and adaptability, which will help them grow and flourish in any environment. Through Mini Club Med +, children can discover their unique character strengths while on vacation, revolving around the six Cs: creativity, co-operation, courage, connection, cheerfulness and confidence.

Beyond the new Mini Club Med + enhancement, Club Med resorts also feature Kids' Clubs for children 4 months to 17 years, the award-winning Amazing Family! program that encourages family bonding in a unique way, services and facilities such as a baby corner with pureed food for infants, interconnecting rooms which make vacationing as a family a breeze and sports and activities for all ages, making it the perfect holiday spot for families.

Families looking for an exhilarating ski escape with the family can look forward to a variety of unique experiences at a Club Med ski resort – where everything is taken care of in the all-inclusive package, including ski lift passes, group snow lessons and even apres ski activities. Guests seeking winter excitement to share with friends and family will find it at Club Med Tomamu, where one can expect action-packed snow adventures such as skiing, snowboarding, snow trekking, and even riding Japan's largest indoor wave pool at the nearby Mina Mina Beach. Meanwhile, those seeking a true immersion into authentic Japanese culture and heritage can look forward to reconnecting with loved ones at Club Med Sahoro. Aside from the wide range of winter activities offered at the exclusive snow domain, guests can also look forward to exciting discoveries – from exploring the native Ainu culture and the local culinary delights, to soaking in the natural wonders of the surrounding mountains – the possibilities for unforgettable experiences are endless.

Those looking to experience fun under the sun will also be delighted with the destinations Club Med has to offer. Discover an authentic Mauritian experience with carefully curated explorative family experiences in our Exclusive Collection resorts, Club Med La Plantation d'Albion and The Albion Villas. Fall in love with a resort where abundant tropical nature meets supreme refinement and exceptional service as you uncover renewed passions at La Plantation d'Albion. If you are looking for an extra special getaway in ultimate luxury, the Albion Villas are perfect for you as you will enjoy the best of both worlds in your own private space yet have access to all the activities available in the resort – fun for whole family is guaranteed. Families seeking the cultural wonders that Thailand has to offer can look to Club Med Phuket, Thailand, and be immersed in a sensorial feast – from traditional Thai performances and culinary adventures to vibrant local sights and Tropical Nomad Lifestyle concept parties – there is something for everyone to enjoy. At Club Med Bali, which features an all-new repertoire of activities, programmes, and entertainment line-up, families can explore the resort together through a digital treasure hunt with Club Med Play app or celebrate the rich Balinese culture with a full-day Balinese themed workshops and experiences. Meanwhile, a holiday at Club Med Bintan Island is perfect for families seeking a holistic wellness experience, offering a variety of fitness activities, outdoor pursuits and healthy cuisines.

With more than 70 years of experience perfecting the all-inclusive concept in 70 destinations located around the world, each Club Med property has its own personality and offers unique immersive experiences reflecting on the culture and customs of its host country. Coupled with the convivial spirit brought by Club Med's G.Os (Gentils Organisateurs), the destinations offered are bound to excite families who have been yearning for hassle-free international holidays since travel restrictions were lifted.

Those looking to book their holiday during the 11.11 promotion can do so by visiting https://bit.ly/3SzvRWq.

About Club Med

Club Med, founded in 1950 by Gerard Blitz, invented the all-inclusive holiday club concept, adding in activities especially for children with the creation of the Mini Club in 1967. Led by its pioneering spirit, Club Med seeks out exceptional destinations and sites. Today, Club Med is the world's leading provider of upscale, all-inclusive holiday packages with a French touch for families and working couples. Club Med operates nearly 70 resorts, of which 85% are rated Premium & Exclusive Collection. Present in 30 countries around the world, the Group employs more than 23,000 Gentils Organisateurs (GOs) and Gentils Employes (GEs), representing 110 nationalities.

Media Contact
PRecious Communications for Club Med
clubmed@preciouscomms.com
+65 96303 0567

[1] Mini Club Med+ programme is currently available in Club Med Bali, Club Med Bintan, Club Med Phuket, and Club Med Tomamu only.

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Speedy immigration clearance for Australian visitors entering Indonesia with first-ever fast-track Visa on Arrival service

BALI, INDONESIA, Oct 13, 2022 – (ACN Newswire) – It is holiday season all year round in Bali, where travellers make their yearly pilgrimage to the beautiful island in Indonesia, a travel hotspot. To aid the increase in travel demand to Indonesia and especially Bali, VFS Global has rolled out the first-of-its-kind Indonesia fast-track Visa on Arrival service. Visitors from 86 different countries, including Australia, can now enjoy a quicker and smoother visa application journey by completing the process online, pre-departure, offered by VFS Global.

The service is provided in an exclusive agreement with TLP, the partner of the Immigration Department for Republic of Indonesia and Bank Mandiri. Apart from Bali, it is also available to Jakarta-bound travellers.

Since the lifting of the travel restrictions brought about by the pandemic, the number of visitors to Bali in 2022 has been consistently hitting new highs, with Australians taking up a massive 32.2% of the total number to the sunny destination in July 2022, making them the top visitors to Bali. Following close behind were travellers from India, the United Kingdom, France and the United States of America, according to Bali Central Bureau of Statistics data released on 2 September.

With the fast-track Visa on Arrival, immigration clearance for 86 nationalities, including India and France, can save up to three hours of waiting time. All they have to do is simply apply for their Indonesia Visa on Arrival through VFS Global on indonesiavoa.vfsevisa.id.

The service will take visitors through an online pre-payment of fees, fast-track access and concierge services prior to their travel. With the confirmation sent to their registered email ID, the only step during arrival would be to get the visa stamped at the designated fast-track Visa on Arrival immigration lanes.

Mr. Jiten Vyas, Chief Commercial Officer, VFS Global said, "Indonesia, especially Bali, is a popular destination for travellers across the globe. Unveiling a fuss-free, speedy service that will make travellers' visa application journey quicker and simpler will give these visitors less time on waiting and more time for their holiday. With tech-led Do It Yourself solutions becoming increasingly popular, this first-ever fast-track Visa on Arrival service is sure to offer applicants a more relaxed on-arrival experience."

How to use the fast-track VOA service
STEP 1: Visit indonesiavoa.vfsevisa.id
STEP 2: Submit the required documents and pay the VOA fee online
STEP 3: Await the confirmation email that will be sent to the registered email ID
STEP 4: Upon landing in Jakarta and Bali, head to the dedicated fast-track lane with the confirmation email to get the visa stamped

VFS Global will offer Standard and Fast track service (Express) options. Applicants opting for the Standard service will be able to submit their applications no less than 72 hours prior to the date of departure, and benefit from the fast-track immigration process. Those opting for the Fast track service (Express) service will be able to submit their applications no less than 24 hours prior to the date of departure. The Express service additionally provides end-to-end personalised assistance and guidance, right from the arrival gate through immigration, baggage claim, and customs.

About VFS Global

VFS Global is the world's largest outsourcing and technology services specialist for governments and diplomatic missions. VFS Global is the trusted partner of 65 client governments, operating a global network with more than 3,500 Application Centres in 144 countries. The company has processed over 246 million applications since its inception in 2001. The company manages non-judgmental and administrative tasks related to applications for visa, passport, and consular services for its client governments, enabling them to focus entirely on the critical assessment task. VFS Global has its headquarters in Zurich/Switzerland and Dubai/United Arab Emirates.

VFS Global is majority-owned by funds managed by Blackstone, the world's largest alternative asset manager. Blackstone seeks to create positive economic impact and long-term value for their investors, the companies in which they invest, and the communities in which they work. Blackstone's USD 915 billion in assets under management include investment vehicles focused on private equity, real estate, public debt and equity, infrastructure, life sciences, growth equity, opportunistic, non-investment grade credit, real assets, and secondary funds, all on a global basis.

The Swiss-based Kuoni and Hugentobler Foundation and EQT, a global investment organisation, headquartered in Stockholm/Sweden, hold minority stakes in VFS Global. www.vfsglobal.com

Media Contact
Soubhik Mitra
Corporate Communications
soubhikm@vfsglobal.com
communications@vfsglobal.com

Jacqualine Chan
PRecious Communications
Jacqualine.chan@preciouscomms.com

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Ohayo Japan: Club Med Resorts in Japan welcome back travellers in time for the winter season

SINGAPORE, Sep 30, 2022 – (ACN Newswire) – Club Med, the pioneer of Premium All-Inclusive holidays, is ready to welcome travellers back to Japan, following the further relaxation of travel restrictions for overseas travellers into the country. This much-anticipated move by the Japanese government is the final lid to allowing overseas travellers easier access into the country after more than two years following the COVID-19 pandemic.

"Japan has been on the wish-list of many of our guests and travellers alike, listing the country as the top place to visit amongst Asian travellers post-pandemic, according to a survey by the Development Bank of Japan and Japan Travel Bureau Foundation and is the number one choice for 49% of Singaporeans according to a recent study by market research firm, YouGov. Our resorts in Japan have been preparing to welcome back our guests with the needs of post-pandemic travellers in mind," said Rachael Harding, Chief Executive Officer, East and South Asia & Pacific Markets, Club Med. "We are very excited to introduce another property in Japan to meet this pent-up travel demand and to also showcase both enhanced and new programmes plus activities aimed at multi-generational families. Our guests can look forward to meaningful and distinctive travel experiences that are unique to the destination. This comes of course with our all-inclusive package and flexible booking policy."

The Brand New Club Med Kiroro Peak, Renovated Club Med Sahoro and New Experiences in Club Med Tomamu

Travellers who have been eyeing Japan as a go-to destination post-pandemic can choose from three Club Med resorts in Japan, each offering unique locations and experiences, just in time for the winter season from some of the best powder snow in the world found on the ski slopes of Hokkaido. Listed below are the unique attractions, experiences and programmes that are available in each of the resorts:

Club Med Kiroro Peak, Hokkaido – For Savvy Travellers Looking For Unconventional Snow Vacations

Opening in December 2022, experience an unconventional snow vacation at Club Med Kiroro Peak, where mountain meets ocean. The ski-in-ski-out resort offers snow enthusiasts direct access to an untouched ski domain with 23 courses for all levels and pristine off-piste ski slopes. With the highest annual snowfall in Japan (averagely 21m of snowfall a year) and one of the best powder snow in the world, guests can enjoy abundant snow coverage and long ski seasons that start as early as November and last till May, the only mountain resort in Asia to offer spring skiing with this seasonality.

Apres-ski the Hokkaido way as Club Med Kiroro Peak offers a wealth of experiences, featuring Club Med's first traditional Japanese onsen, Rotenburo outdoor open-air hot bathtub, saunas and a dedicated wellness hub. Guests can also expect a multitude of facilities at Club Med Kiroro Peak, including cultural workshops and activities, nature centres and an indoor resort pool. Not forgetting about Club Med Kiroro Grand is set to open in 2023 and welcomes guests of all ages with a wide host of family-oriented activities and facilities suitable for 2 years old and above.

Club Med Sahoro Hokkaido – For the Discerning Travellers Looking to Unlock Hokkaido's Mountain Charm

Surrounded by the magnificent Hidaka mountain range that is known for their fresh and snowy slopes, experience the exclusivity of a private mountain at Club Med Sahoro. Begin new traditions and experience a true immersion into authentic Japanese culture and heritage. Having completed its renovation in December 2019, the fresh new look is reflected in Club Med Sahoro's rooms, reception, theatre, dining and outdoor spaces, blending a level of nuanced modernity with traditional Japanese aesthetics while preserving the beauty and splendour of the Ainu culture.

Discover the best of Hokkaido from indulging in a traditional nabemono dining experience in the specialty restaurant and interactive Hokkaido cooking lessons to trying out ski in Club Med's first ever Ski Simulator (digital climbing wall) and unwinding in an open-air hot Canadian bath amidst a picturesque mountain landscape, Club Med Sahoro offers a unique selection of magical experiences and moments to share with family and friends.

Club Med Tomamu Hokkaido – For the Trend Seekers Looking to Ride a Different Wave

Situated amidst Tomamu mountain, the 145-hectare ski-in and ski-out resort is a paradise for ski lovers and adventure seekers with 29 ski runs for all levels. The perfect natural playground in this winter wonderland, be the first on the mountain and strap on your skis or snowboards to ride a new wave on the freshly prepared white powdery slopes all day long. The fun doesn't end after the sun sets as the expert Gentils Organisateurs (G.O.) pave the way for a memorable night skiing session under a star-filled sky.

Be in for a treat with a host of wonderful and spectacular winter experiences that ignite the senses at Club Med Tomamu. Immerse yourself in Hokkaido culture and mountain lifestyle with a weekly "Feel Hokkaido" Festival and Cosy Winter Lifestyle concept over special themed activities and entertainment. Not forgetting that food aficionados will have a great time savouring a farm-to-table authentic yakiniku barbecue and indulging in the best local brews with a guided tasting of three premium Japanese whiskies and sakes at The Nest.

A Snow Holiday Like No Other

With over 25 ski resorts spanned across Canada, France, Italy, China and Japan, Club Med offers a world of incomparable snow experiences. Guests can expect an all-inclusive, hassle-free holiday experience Club Med is renowned for, which includes accommodation with refined comfort and contemporary interior design, gourmet cuisine and open bar located in exceptional destinations. This is completed with a myriad of activities and entertainment throughout the day including ski and snowboarding classes with ski passes, as well as kids' clubs from 4 to 17 years of age which are made possible by an attentive and dedicated G.O. team.

Travel with a Peace of Mind

Club Med has developed Safe Together, a guest assurance program with the support of Ecolab, a global leader in water, hygiene and energy technologies and services, to ensure optimal health and safety of the travellers through a series of heightened hygiene and safety protocols implemented across all of Club Med's resorts and aligned with recommendations from the worldwide health authorities and local regulations.

Aside from heightened safety measures, Club Med also understands the need for increased flexibility and security with travel planning and has introduced the Peace of Mind policy at the start of the pandemic, giving travellers the freedom of a complementary change of travel date, a book-now-pay-later option, and free cancellation of up to 30 days before the travel date. Complimentary COVID-19 coverage is also included in its all-inclusive holiday package for international destinations, more details available here.

Offering a unique blend of sports, cultural experiences, family activities and peace of mind, Club Med aims to make travel happen again to the land of the rising sun, with a renewed purpose of providing their guests with a Premium All-Inclusive worry-free experience. The same all-inclusive signature formula of great people, transformative experiences and idyllic destinations await guests at Club Med.

About Club Med

Club Med, founded in 1950 by Gerard Blitz, invented the all-inclusive holiday club concept, adding activities especially for children with the creation of the Mini Club in 1967. Led by its pioneering spirit, Club Med seeks out exceptional destinations and sites. Today, Club Med is the world's leading provider of upscale, all-inclusive holiday packages with a French touch for families and working couples. Club Med operates nearly 70 resorts, of which 85% are rated Premium & Exclusive Collection. Present in 30 countries around the world, the Group employs more than 23,000 Gentils Organisateurs (GOs) and Gentils Employes (GEs), representing 110 nationalities.

Media Contact
PRecious Communications for Club Med
clubmed@preciouscomms.com
+65 6303 0567

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

JCB sponsors Singapore’s one of the largest countdown event

TOKYO & SINGAPORE, Sep 20, 2022 – (ACN Newswire) – JCB Co., Ltd. ("JCB"), Japan's only international payment brand, will sponsor STAR ISLAND SINGAPORE COUNTDOWN EDITION 2022-2023 Presented by JCB ("STAR ISLAND"), which will be held by Avex Asia Pte. Ltd. ("Avex Asia"), subsidiary wholly owned by Avex Entertainment Inc., from December 25 to December 31 2022.

STAR ISLAND is a fireworks musical show from Japan that perfectly interfuses Japan's traditional fireworks with immersive audio experience, lights, and performance acts, all of which are performed in a spectacular location. It was held in conjunction with the Marina Bay Singapore Countdown in 2018, one of the largest countdown events in Asia, supported by the Singapore Government. This year's show is held for the first time in three years due to the COVID-19 Pandemic.

For more information about STAR ISLAND: http://www.starisland.sg/

In 2019, before the COVID-19 Pandemic, approximately more than 19.1 million visitors[1] annually traveled to Singapore from overseas, including approximately 880,000 annual travelers[2] from Japan, which hit a record high. However, the number of travelers to Singapore in 2021 significantly decreased to approximately 330,000 (of which, approximately 6,000 travelers from Japan) due to the COVID-19 outbreak.

This event, STAR ISLAND, will be held with the aim of achieving the recovery of not only travel and tourism within Singapore but also inbound travel and tourism to Singapore from its neighboring countries such as Indonesia, Thailand, the Philippines and Vietnam where JCB Cards are issued, and from other countries such as Japan.

JCB, which has been working to increase the number of JCB merchants in Singapore since 1991, decided to sponsor this event in order to encourage JCB Cardmembers, issuers and merchants in Singapore, a country who is the driving force in the overall ASEAN market, to become familiar with the JCB brand and understand its value, in addition to supporting travel to Singapore and its recovery.

Event Outline
– Date: Sunday, 25 December to Saturday, 31 December 2022
– Place: Marina Bay area event venue, The Float at Marina Bay (Singapore)
– Official website: http://www.starisland.sg/
– Organizer: Avex Asia Pte. Ltd., Avex Entertainment Inc.
– Sponsors: Urban Redevelopment Authority, Singapore Tourism Board
Note: The event outline and production details may be subject to change. Please check the official website for details.

About Avex Asia Pte. Ltd.

Avex Asia Pte. Ltd. organizes and holds live music events and anime-related events mainly in Asia as the Asian headquarters of Avex Group. Moreover, it also rolls out license businesses using not only IPs[3] held by Avex but also various IPs.

About JCB

JCB is a major global payment brand and a leading credit card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 39 million merchants around the world. JCB Cards are now issued mainly in Asian countries and territories, with more than 140 million cardmembers. As part of its international growth strategy, JCB has formed alliances with hundreds of leading banks and financial institutions globally to increase its merchant coverage and cardmember base. As a comprehensive payment solution provider, JCB commits to providing responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/

[1] Singapore Tourism Board
[2] Japan National Tourism Organization (JNTO)
[3] IP stands for Intellectual Properties. In the field of entertainment, music, artists, television personalities, animes, video works, games, characters and others are referred to as IPs.

Contact
Ayaka Nakajima
Corporate Communications
Tel: +81-3-5778-8353
Email: jcb-pr@jcb.co.jp

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Seventh Belt and Road Summit draws to successful close

HONG KONG, Sep 2, 2022 – (ACN Newswire) – The seventh Belt and Road Summit, jointly organised by the Government of the Hong Kong Special Administrative Region (HKSAR) and the Hong Kong Trade Development Council (HKTDC), concluded yesterday (1 September). Continuing in the tradition of being a formal, substantial and high-quality event, the summit saw state leaders and senior officials, regional government leaders and business leaders gathered to explore the business potential of the Belt and Road Initiative, and to drive synergies and create a win-win situation through multilateral collaborations such as the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) and the Regional Comprehensive Economic Partnership (RCEP).

The seventh Belt and Road Summit, which ran under the theme "Heralding a New Chapter: Collaborate and Innovate", attracted more than 80 government and business leaders to share their insights.

More than 19,000 participants from over 80 countries and regions attended online or in-person.

The 38th Prime Minister of New Zealand, John Key, Aswin Techajareonvikul, CEO and President of Berli Jucker PCL, Liu Liange, Chairman of the Bank of China, and Rod Eddington, Chairman of Infrastructure Partnerships Australia, JP Morgan's Asia Pacific Advisory Council and Non-Executive Chairman of Lion shared their insights at Business Plenary "Collaborate for a Bright New Era".

As one of the major celebrations to mark the 25th anniversary of the establishment of the HKSAR, the summit saw more than 80 senior government officials and business leaders from the Belt and Road region gathered to share their insights under the theme "Heralding a New Chapter: Collaborate and Innovate". For the first time, the summit was held in a hybrid format, overcoming geographical boundaries by allowing those who were unable to attend in person to participate virtually. More than 19,000 attendees representing over 80 countries and regions participated online or at the physical event.

More than 800 one-to-one matching sessions

The business matching and project pitching sessions at the summit remained popular among project owners and attendees. More than 280 investment projects from the Belt and Road region and beyond were presented at the summit, covering four main areas, namely: (1) energy, natural resources and public utilities; (2) innovation and technology; (3) urban development; and (4) transportation and logistics infrastructure. The projects focused on areas such as smart city development, data centres and e-commerce related investments. More than 800 one-to-one business matching meetings were arranged for project owners, investors and professional service providers to pave the way for collaboration agreements.

Real opportunities in RCEP but some challenges

Multilateral collaboration creates more frequent cross-border trade and investment, and is becoming more important than ever in driving a strong recovery in the Asia-Pacific region following the pandemic. The RCEP, which came into effect this year, stands as the largest free trade agreement in history, accounting for 30% of the world's population and GDP. Combined with the joint effort of more than 180 countries connected through the Belt and Road Initiative, it will further strengthen regional economic integration around the world. In the Business Plenary titled "Collaborate for a Bright New Era", business leaders from economies along the Belt and Road and the RCEP shared their insights and explored how these initiatives and agreements can complement each other to drive strong economic growth and promote cross-border collaboration between businesses of all sizes.

The 38th Prime Minister of New Zealand, John Key, shared his views on the RCEP. "One of the things that are challenged is the supply chains. China is a really a huge market, and we source a lot of goods from China. We can see the impact the breaking down of those supply chains has had on global inflation."

Aswin Techajareonvikul, Chief Executive Officer and President of Berli Jucker Public Company Limited, shared that the Thailand enterprises have well received the potential of the Belt and Road Initiative (BRI). "It is in tune with our 20-year strategy and Thailand's ongoing projects for economic development under the Thailand 4.0 economic model. We are able to expand trade and investment to our neighbouring countries. We can also better link with the world market, especially for the CLMV countries [Cambodia, Laos, Myanmar and Vietnam]."

Liu Liange, Chairman of the Bank of China, said: "Most of the members in the RCEP are located in important junctions along the Belt and Road. This not only fosters connectivity between value chains and supply chains, but also further expands the 'social circle' of the Belt and Road Initiative, engaging more countries and businesses in the construction of the Belt and Road and in broader collaboration, as well as forming the dual-engine of the Belt and Road Initiative and RCEP within the region."

Belt and Road Initiative drives consumption and Infratech development

Global economies are pushing to achieve post-pandemic economic recovery. At the same time, countries around the world are striving to build stronger global business connections with the help of macro measures such as the BRI, the RCEP and the GBA development.

The demand for high-quality, innovative and sustainable infrastructure around the world has given rise to many new business opportunities. These innovative projects will be led and driven by visionary industry leaders as they usher in a new era of infrastructure development. In the "Faster, Greater Infrastructure" session of the thematic group discussions, business leaders who had turned futuristic concepts into reality and envisioned some of the world's most important infrastructure projects exchanged their views.

Founder and Managing Director of Emaar Properties and Founder and Director of Noon.com, HE Mohamed Ali Rashed Alabbar, said: "I really believe that a link such as the Belt and Road Initiative and its effects on human life, economic progress, quality of life, job creation and exchange of cultures and knowledge and unity to the world – it is going to be incredible."

Chief Marketing Officer of Hyperloop TT Robert Miller addressed the current trends in infrastructure technology (infratech) development. "Infratech is really underfunded and underdeveloped. Hyperloop really falls into the category of infratech where there is a longer time to profitability. So we need patient investors from both public and private sectors. Meanwhile, governments everywhere are looking at reducing carbon emissions. One of the biggest polluters is the transportation industry: 23% of all carbon emissions worldwide come from transportation. Europe, the United States and countries in Asia are all looking how to decarbonise the transportation industry. Hyperloop TT could be a massive driver in that decarbonisation," he said.

The seventh Belt and Road Summit was made possible by its Strategic Partner, China International Capital Corporation (CICC); Regional Banking Partner, Bank of China (Hong Kong); and Platinum Sponsors, China Mobile International and China Unicom.

Image download: https://bit.ly/3edlV6t

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiries
Please contact HKTDC's Communications & Public Affairs Department:
Clayton Lauw, Tel: +852 2584 4472, email: clayton.y.lauw@hktdc.org
Sam Ho, Tel: +852 2584 4569, email: sam.sy.ho@hktdc.org

Yuan Tung Financial Relations:
Agnes Yiu, Tel: +852 3428 5690, email: ayiu@yuantung.com.hk
Tiffany Leung, Tel: +852 3428 2361, email: tleung@yuantung.com.hk
Wong Hing-fung, Tel: +852 3428 3122, email: hfwong@yuantung.com.hk

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com