Result summary of first half of the year:

• Revenue HK$3,333 million, representing a drop of 2.1% (in terms of RMB, growth of 4.7%);
• Net profit HK$639 million, representing a growth of 12%;
• The Board resolved to pay interim dividend of HK$0.07 /share

HONG KONG SAR – Media OutReach – 29 August 2023 – SSY Group Limited (“SSY” or the “Company”; Stock Code: 2005.HK) and its subsidiaries (together, the “Group”) presents the interim results of the Company for the six months ended 30 June 2023 (“first half of 2023” or “first half of the year”).

During the first half of 2023, the Group achieved a revenue of approximately Renminbi (“RMB”) 2,962 million, representing an increase of approximately 4.7% as compared to the corresponding period of last year. However, due to depreciation of Renminbi against Hong Kong dollars by approximately 6.5% as compared to the same period last year, in terms of Hong Kong dollars, the Group’s revenue was approximately HK$3,333 million in the first half of this year, representing a decrease of 2.1% as compared to corresponding period of last year. The Group achieved a net profit of approximately HK$639 million, representing an increase of approximately 12% as compared to the corresponding period of last year. Confronted with the tough challenges in the domestic and international pharmaceutical markets, the Group was determined to be ambitious, seize the opportunities and overcome the difficulties. Through a series of operational measures such as accelerating research and development and innovation, integrating market resources and actively exploring potentials, the Group continued to maintain a favourable trend of stable and healthy development.

The Board of directors resolved to pay an interim dividend of HK$0.07 per share for year 2023, which increased by 16.7% as compared to corresponding period of last year. The total amount to be paid is approximately HK$208 million.

During the first half of the year, the cumulative sales volume of intravenous infusion solutions reached approximately 936 million bottles (bags), with a revenue of HK$2,069 million, representing an increase of approximately 24.1% and 12.8% respectively as compared to corresponding period of last year. Among which, production and sales of therapeutic infusion solutions progressed steadily with revenue amounted to HK$566 million, representing an increase of 24.7% as compared to corresponding period of last year. Exports of preparations to foreign countries rose against the trend, infusion solutions export revenue amounted to approximately HK$80.08 million, representing a growth of approximately 25% as compared to corresponding period of last year. Ampoule products recorded continuous growth in sales volume. In the first half of the year, sales volume reached approximately 131 million, representing a growth of approximately 92% as compared to corresponding period of last year. Oral preparations business segment accelerated its expansion and development. In the first half of the year, revenue reaching HK$244 million, representing a growth of approximately 68% as compared to corresponding period of last year. Due to the impacts of softer market demands and dropping market prices of bulk pharmaceuticals in the first half of the year, revenue was approximately HK$454 million, representing a decrease of approximately 42% as compared to corresponding period last year. External sales of medical materials in terms of Hong Kong dollar roughly at same level as corresponding period of last year.

The Group has taken the innovation drive as the lead to integrate the Group’s own advantages, and coordinated the progress to push forward the research and development of featured generic drugs, bulk pharmaceuticals, innovative drugs, medical materials as well as product types under consistency evaluation, in an effort to establish a new course and a new advantage in the development of featured generic drugs and high-end complex preparation. In the first half of the year, the Group was at the forefront of all pharmaceutical enterprises in China in terms of the number of preparations being submitted for approvals and passed the consistency evaluations, and obtained a total of 34 production approvals for different types, including 8 for bulk pharmaceuticals and 26 for preparations. As of the first half of the year, the number of the Group’s products that have passed the consistency evaluation or been regarded as passing the consistency evaluation reached 51 product types with 67 specifications, which has seized opportunities for enhancing market competitiveness for the products. Positive progress has been made in the research of innovative drugs. Phase I clinical trial of type I chemical innovative anti-tumor drug NP-01 project had positive progress. Communication with CDE prior to application of the Phase I clinical trial regarding anti-liver fibrosis innovative drug ADN-9 has been established. Pre-clinical research of anti-pulmonary hypertension drug SYN-045 has been fully commenced.

The Group has accelerated the construction of infrastructure projects. The 3-in-1 plastic ampoule production lines project has been completed and is in the stage of pilot production and verification. Guangxiang Pharmaceutical’s featured bulk pharmaceuticals production lines project has been completed and entered the stage of equipment commissioning in the middle of July. The PP upright soft bag injections production lines project is expected to be completed and put into pilot production at the end of September.

Looking ahead to the second half of 2023, facing new trends and environment of the pharmaceutical industry, the Group will continue to promote in-depth integration of innovative chain, industrial chain and value chain, maintain a relatively robust and fast development momentum, and strive for better and more solid business results. In the second half of the year, the Group will conduct in-depth and systematic research and analysis of the national and local procurement policies to ensure precise market access, and will capitalize on the influence and driving effects of the Group Purchasing Organisation Programme. The Group will focus on increasing sales volume of major types of therapeutic infusion products to ensure the sustainable growth in production and sales of infusion products. The Group will step up effort to increase sales of new ampoule products, explore the market potential of dominant products and develop types that may have revenue of RMB100 million. On the bulk pharmaceuticals business, while stabilising its overseas customer base, the Group will accelerate domestic sales of products with distinctive strengths. Meanwhile, the Group will continue to improve the product mix. In terms of development of specialised generic drug, high-end complex preparations and innovative drugs, the Group will leverage on the cooperation mechanism and talent recruitment mechanism with universities and scientific research institutes to organise the product types in its pipeline and plan, and will explore more high-quality research projects. In the second half of the year, the Group will coordinate to push forward projects with new construction and construction-in-progress, and accelerate advancement of Jiangsu Best New Medical Material to the A-share market of the Beijing Stock Exchange. On the other hand, the Group will actively identify opportunities for merger and acquisition as well as investment in the pharmaceutical industry, which will strengthen the Group’s position in the market and products, and enhance the return on investment.

Mr. Qu Jiguang, Chairman and CEO of SSY said, “The Group will take on the initiatives in its development, maintain the resilience and dynamism of innovation and development, and facilitate the high-quality development of the Group with concrete actions and solid results. We truly believe that with our advantages in scale, quality, management and branding built up in the industry over the years, and with our continous the innovative momentum, we will bring satisfactory returns to our investors with stronger development results.”

Hashtag: #SSY

The issuer is solely responsible for the content of this announcement.

About SSY Group Limited

SSY Group Limited is one of the leading pharmaceutical manufacturers in China with nearly 7 decades of operation history and a well-established brand name. The Group went public on the Hong Kong Stock Exchange in December 2005 with stock code 2005. The Group is principally engaged in the research, development, manufacturing and selling of a wide range of pharmaceutical products, including finished medicines of mainly intravenous infusion solution and ampoule injection to hospitals and distributors, bulk pharmaceuticals and medical materials. The manufacturing plants of the Group locates in Hebei Province and Jiangsu Province in China, and its pharmaceutical products has leading position in the high-end hospital market in China.

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• Need for long term planning flagged at Global Family Business Summit in Singapore
• John L. Ward Center for Family Enterprises collaborates with partners in Asia, such as Tanoto Foundation, to develop research to support future of family businesses

SINGAPORE – Media OutReach – 29 August 2023 – The Kellogg School of Management’s John L. Ward Center (‘the Ward Center’) for Family Enterprises has highlighted the value of ‘transformative learning’ as a means of supporting long term succession planning for family businesses and managing the transition between generations.

At the Global Family Business Summit, held today in Singapore by the Kellogg School of Management at Northwestern University, one of the leading research and teaching universities in the U.S., experts from the Ward Center shared research on family business trends and outlined specific learning approaches to help family businesses protect and enhance the value of their operations and build capacity over time.

As part of its commitment to continuously developing its teaching capacity, the Ward Center collaborates with external partners, such as Tanoto Foundation, who share insights gleaned from decades of business which in turn contribute to the research carried out by the Center.

Francesca Cornelli, dean of the Kellogg School of Management, said: “When family businesses grow, they face challenges which are different than other types of businesses. Families have to adapt to expansions and new challenges, sometimes in a short time span. It is therefore important to consider new approaches to build capacity and ensure an effective transition between generations”.

“The Ward Center’s educational programming and groundbreaking research is an asset to family businesses across Asia and around the world, and I’m thrilled we were able to convene so many prominent family business leaders in Singapore for these important conversations,” she added.

Dr. Matt Allen, Executive Director of the Ward Center for Family Enterprises, said: “In many cases, the next generation of family businesses will have witnessed their companies evolve from a nascent stage to a vast and intricate present. This is why we have introduced what we call ‘transformative learning’, in which we use innovative teaching methodologies to help students and their families to rethink how they can work together for the future of their businesses”.

The Global Family Business Summit takes place against a backdrop of the steady growth in family businesses, both globally and in Asia. Research from PwC published last March showed that 71% of family businesses reported growth in their last financial year, while the number of family offices based in Singapore has increased exponentially in recent years.

Dr. J. Satrijo Tanudjojo, Global CEO of Tanoto Foundation, said: “This dramatic growth in family businesses highlights the need for continuing scholarship and research in this area. There’s an increasing need for education focused on family business strategies, governance, and succession to ensure the sustainable expansion of family businesses for future generations”.

In 2021, Tanoto Foundation made a donation of USD10 million to Northwestern University, renaming the Kellogg School of Management’s Center for Family Enterprises to the John L. Ward Center for Family Enterprises, in honour of Clinical Professor Emeritus John L. Ward, who served as co-director of the center for nearly two decades and was one of the first scholars to put science behind the field of family enterprise.

Hashtag: #TanotoFoundation

The issuer is solely responsible for the content of this announcement.

About Tanoto Foundation

Tanoto Foundation is an independent philanthropic organisation founded by Sukanto Tanoto and Tinah Bingei Tanoto based on the belief that every person should have the opportunity to realise his or her full potential. Tanoto Foundation programmes stem from the belief that quality education accelerates equal opportunity. We harness the transformative strength of education to realise people’s full potential and improve lives. Tanoto Foundation focuses on making an impact in three main areas: improving learning environments, future leader’s development, as well as medical research and sciences.

More information is available at www.tanotofoundation.org/en/.

About the Kellogg School of Management at Northwestern University

The Kellogg School of Management at Northwestern University is a premier global business school committed to its mission to educate, equip and inspire leaders who leverage creativity and innovation and bring empathy to every decision. Based just outside of Chicago, our vibrant, global community of faculty, staff, students and alumni shapes the practice of business and organizations around the world. Kellogg offers an innovative portfolio of programs: six Full-Time MBA programs including the accelerated One-Year MBA and Two-Year MBA options, and joint degree programs with the engineering, medical and law schools; an Evening & Weekend Program; the Executive MBA global network; a Master of Science in Management Studies; the PhD program; and extensive non-degree Executive Education programs.

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

Dive behind the scenes with Win in his heartwarming first Coca-Cola® film that peeks into his cherished family moments.

BANGKOK, THAILAND – Media OutReach – 29 August 2023 – As the excitement brewed amongst Coca-Cola fans and Win Metawin admirers, the long-awaited day finally landed. Coca-Cola® and its ASEAN Brand Ambassador – the enigmatic Win Metawin, finally unveil the heartening online film as a part of their ‘Recipe for Magic’ collaboration. Released today, the film is available for viewers on the official Coca-Cola channels and Win’s Instagram profile. The premise? Exploring the enchanting bonds created when loved ones gather for a meal, complemented by the refreshing taste of Coca-Cola®.

Launched across Southeast Asia – from Singapore to Thailand, Vietnam, Cambodia, Myanmar, Indonesia, Malaysia, and the Philippines – the Coca-Cola ‘Recipe for Magic’ journey is about more than just marketing. It brings to the forefront, the unifying power of shared meals and the authentic connections forged at the dining table, aptly personified by the charismatic Coca-Cola ASEAN brand ambassador, Win Metawin.

This feel-good film casts the spotlight on the importance of family mealtimes in creating and sharing those ‘pause-refresh-and-cherish’ moments – even for an Asian star! The film articulately captures Win’s journey in preparing his very own home-cooked pizza — from meandering through supermarket aisles in search of inspiration and soliciting cooking suggestions from his fans to the moment he surprises his siblings with a mouthwatering, hand-crafted pizza. The story culminates in a beautiful family gathering, over slices of pizza and glasses of Coca-Cola, where laughter and love are the main courses.

Baron Magtanong, Regional Marketing Manager for Coca-Cola Trademark, encapsulates the sentiments, “Our ‘Recipe for Magic’ campaign aims to bottle up those precious moments of connection. With Win’s inherent warmth and energy, we’re hopeful that the experience inspires others to explore their very own ‘recipe for magic’, turning mealtimes into priceless memories.”

When it came to deciding what to cook, Win Metawin shared that he was excited to take on board his fans’ suggestions. Win nostalgically reminisces his strong bond with Coca-Cola and pizza, stating: “I have many fond memories that involve me and my siblings, hungrily waiting for a pizza delivery while sharing a Coke. So, fast forward to the ‘Recipe for Magic’ campaign, I jumped at the opportunity to recreate those personal moments of happiness. Given how Coca-Cola has been part of many of our family occasions throughout my life, this campaign was truly close to my heart.”

A cherished memory was indeed created as Win got a chance to work with his siblings on the film set sharing, “This was a priceless experience to have all my siblings on set, and in fact, created another unforgettable and treasured family moment etched in my memory, courtesy of Coca-Cola.”

The ‘Recipe for Magic’ campaign embodies ‘Real Magic’ – the Coca-Cola global brand philosophy entrenched in the belief that whether it’s every day or a special occasion, moments can become magical and extraordinary experiences when they are enjoyed together. All it takes is combining the right ingredients – good company, delectable food, and an ice-cold, refreshing Coca-Cola drink.

Catch Win on this magical journey with Coca-Cola. For updates and glimpses into more heartwarming moments, connect with us on our official pages: Facebook or at www.coca-cola.com .

Hashtag: #CocaCola

The issuer is solely responsible for the content of this announcement.

About Coca-Cola ASEAN & South Pacific

The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. The Coca-Cola ASEAN and South Pacific (ASP) operating unit serves 25 diverse countries across Southeast Asia, Australia, New Zealand, and the Pacific Islands. We offer a diverse portfolio of great-tasting beverages including sparkling beverages, water, juices, dairy, nutrition, sports, and tea. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities, and the planet through water replenishment, packaging recycling, sustainable sourcing practices, and carbon emissions reductions across our value chain.

Together with our bottling partners, we help bring economic opportunity to local communities across the region. Learn more at www.coca-colacompany.com and follow us on Twitter, Instagram, Facebook, and LinkedIn.

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Targets to enable 50 children in out-of-home care with special learning needs to have access to learning support programmes

SINGAPORE – Media OutReach – 29 August 2023 – World Vision Singapore has announced that it is extending its outreach to vulnerable children with special learning needs in Singapore through its One Life Fund. As an international humanitarian organisation dedicated to enabling vulnerable children around the world to live life in its fullness, World Vision Singapore established the One Life Fund to support vulnerable children in Singapore. Since 2023, the One Life Fund has enabled children in out-of-home care with special learning needs to have access to specialised learning support.

Working hand in hand with the Dyslexia Association of Singapore (DAS) and Chen Su Lan Methodist Children’s Home (CSLMCH), World Vision has identified the first cohort of 15 children. These children are diagnosed with dyslexia and exhibit a range of learning and developmental delays. Many of them are also burdened with the scars of past trauma from a history of domestic abuse or other family circumstances. The impact of the trauma further impairs their learning. These children thus require specialised learning support to cope with the demands of formal education in a manner that is sensitive to their learning and behavioural difficulties.

In this unique tripartite partnership, World Vision Singapore, DAS, and CSLMCH have jointly looked into arrangements and resources that are needed for these children to attend literacy sessions on-site at the children’s home in very small groups. The benefit from the on-site teaching arrangement is that CSLMCH’s case workers can be present to support educational therapists from DAS by calming the children when they display disruptive behaviour during the lessons.

“At World Vision, our vision is to enable every child to live life in all its fullness, where they are given the opportunity to develop their potential. By combining the expertise and resources of Dyslexia Association of Singapore, Chen Su Lan Methodist Children’s Home, and World Vision Singapore in this partnership, children with special learning needs are able to receive robust and targeted educational intervention within the safe environment of the children’s home. Lessons conducted in a familiar and conducive environment also help these children learn more effectively, lowering the risk of external behavioural triggers. World Vision has begun providing support for 15 children at CSLMCH. We aim to extend our support to 35 more children in out-of-home care with special learning needs. Our aspiration is to be able to do even more to address the needs of vulnerable children in Singapore in the future,” said Benjamin Tan, CEO of World Vision Singapore.

According to DAS, every year, one-third of the students assessed by DAS will not be diagnosed with dyslexia, but they struggle to learn because of overlapping learning difficulties.

Lee Siang, CEO of Dyslexia Association of Singapore, said, “Students with overlapping difficulties have increasingly come to our attention as they do not qualify for a diagnosis of dyslexia and are not able to access programmes and funding support to remediate their learning difficulties. It is our belief that every child with literacy challenges regardless of their background and circumstances should have access to specialist intervention and resources to bridge their learning gaps and unleash their potential. This collaboration with Chen Su Lan Methodist Children’s Home and World Vision Singapore has thus enabled these children to receive the necessary remediation to overcome their literacy challenges. It also provides opportunities to expand DAS’s repertoire of strategies to better support these students in their educational journey.”

“We have quite a number of children with special learning needs who require the specialised learning support that is provided by DAS and funded by World Vision Singapore’s One Life Fund. Many of these children are still going through a journey of healing from past traumas. The provision of appropriate educational interventions supports them in this restorative process. The educational therapists’ enthusiasm, emotional support and stimulating interactions have been important motivators for learning. Children who have begun receiving the support now show an interest in reading and writing and also demonstrate better reading fluency,” shared Low Kee Hong, Executive Director of Chen Su Lan Methodist Children’s Home.

James[1], who is 12 years old this year, is part of the first cohort of 15 children who have benefitted from this tripartite partnership. He has been residing in CSLMCH since 2021. His parents were unable to care for him, and he experienced multiple disruptions under his relatives’ care. Apart from being diagnosed with dyslexia, he presents moderate receptive and moderate-severe expressive developmental language disorder[2]. This makes it hard for him to learn in regular classes. He also exhibited self-harm behaviour. His family background and negative early childhood experiences may have also affected his academic performance.

With the support from World Vision Singapore’s One Life Fund, James is now able to receive dyslexia-specific remediation in the children’s home to improve his reading and spelling abilities. Since he began in May this year, he has gained more confidence in expressing himself in English and now enjoys engaging in social interactions. He has also shown a growing interest in basic reading activities independently.

“Education is the bedrock of a child’s development to a brighter future. World Vision remains committed to removing barriers so that vulnerable children can fulfil their potential. We want to help pave a future where children are protected, cared for, and given the opportunities to become all they can be,” added Benjamin Tan.

World Vision Singapore’s One Life Fund covers the fees of learning support programmes for children in out-of-home care with special learning needs, and, where needed, the cost of learning needs assessment prior to enrolment and related transport costs for children in residential care.

Members of the public in Singapore can visit World Vision Singapore’s website or Giving.SG to contribute to the One Life Fund:

• https://www.worldvision.org.sg/en/ways-to-give/sector-funding/one-life-fund-support-children-out-home-care-singapore
• https://www.giving.sg/world-vision-singapore/supportchildreninoutofhomecare

Hashtag: #WorldVisionSG #ForChildrenForChangeForLife

https://www.linkedin.com/company/world-vision-international-singapore/
https://www.facebook.com/Worldvisionsingapore/
https://www.instagram.com/worldvisionsg/

The issuer is solely responsible for the content of this announcement.

About World Vision

World Vision is a Christian humanitarian organisation dedicated to working with children, families, and their communities worldwide to reach their full potential by tackling the root causes of poverty and injustice. Working in nearly 100 countries around the world, we serve all people, regardless of religion, race, ethnicity, or gender.

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.

Hashtag: #NielsenIQ #FMCG #Health #Wellness #ConsumerIntelligence #Innovation

https://www.linkedin.com/company/nielseniq/

The issuer is solely responsible for the content of this announcement.

About NIQ

NIQ is the world’s leading consumer intelligence company, delivering the most complete understanding of consumer buying behaviour and revealing new pathways to growth. In 2023, NIQ combined with GfK, bringing together the two industry leaders with unparalleled global reach. With a holistic retail read and the most comprehensive consumer insights—delivered with advanced analytics through state-of-the-art platforms—NIQ delivers the Full View™.

NIQ, is an Advent International portfolio company with operations in 100+ markets, covering more than 90% of the world’s population. For more information, visit NIQ.com.

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Major product and customer milestones signal progress toward the future of CRM for life sciences

SINGAPORE – Media OutReach – 29 August 2023 – Veeva Systems (NYSE: VEEV) today announced two major milestones as it advances Vault CRM – the next generation of CRM for the life sciences industry. Vault CRM had its first customer win with an innovative oncology biotech. The early adopter plans to go live starting with their field medical team in Q4 2023. Veeva also announced plans for the general release of Vault CRM in April 2024.

“The Veeva product team has made remarkable progress since we announced Vault CRM less than a year ago,” said Tom Schwenger, Veeva president and COO. “By focusing on product excellence, innovation, and customer success, Vault CRM will have its first customer live in Q4 2023, an important milestone as we look ahead to the future of CRM for the industry.”

Built on the Veeva Vault Platform for the unique needs of life sciences, Vault CRM will include all the functionality of market-leading Veeva CRM and new omnichannel capabilities. Vault CRM Service Center – included with Vault CRM at no additional charge – provides new call center capabilities inside sales and hybrid reps can use to support the service-centric engagement necessary for today’s more complex therapies.

Vault CRM is planned for general availability in April 2024 and will then be sold as the go-forward product for all new customers. The current Veeva CRM solution built on the Salesforce platform will enter stability mode after its final functional release in December 2023 to minimize change and provide a smooth migration path to Vault CRM for existing Veeva CRM customers. During stability mode, Veeva CRM releases will include fixes for significant defects, compliance, platform compatibility, and security updates. Veeva CRM will be supported until September 2030.

Additional Information
For more on Vault CRM, visit: veeva.com/VaultCRM
Connect with Veeva on LinkedIn: linkedin.com/company/veeva-systems
Hashtag: #Veeva #VeevaSystems #Healthcare #LifeSciences #Cloud #CRM

https://linkedin.com/company/veeva-systems-apac

The issuer is solely responsible for the content of this announcement.

About Veeva Systems

Veeva is the global leader in cloud software for the life sciences industry. Committed to innovation, product excellence, and customer success, Veeva serves more than 1,000 customers, ranging from the world’s largest biopharmaceutical companies to emerging biotechs. As a Public Benefit Corporation, Veeva is committed to balancing the interests of all stakeholders, including customers, employees, shareholders, and the industries it serves. For more information, visit veeva.com.

Veeva Forward-looking Statements
This release contains forward-looking statements regarding Veeva’s products and services and the expected results or benefits from use of our products and services, including certain of our new solutions and applications that are still under development or not generally available. These statements are based on our current expectations. Actual results, availability, and any future events relating to these products and services could differ materially from those anticipated or provided in this release and we have no obligation to update such statements. There are numerous risks that have the potential to negatively impact our results, including the risks and uncertainties disclosed in our filing on Form 10-Q for the period ended April 30, 2023, which you can find here (a summary of risks which may impact our business can be found on pages 37 and 38), and in our subsequent SEC filings, which you can access at sec.gov.

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BANGKOK, THAILAND – Media OutReach – 29 August 2023 – For several years now, “startups” have been designated as a national-level economic growth strategy. Legal frameworks and benefits have been promoted to support business entrepreneurs and innovations stemming from startups with diverse capabilities have been witnessed. Of particular interest in another dimension is the soaring rise of unicorn groups, whether it’s Flash Express, LINE MAN Wongnai, or the Ascend Group that can raise billions of baht in funding. Moreover, Thailand remains a significant landmark suitable for establishing startups, with strengths that facilitate and align with new global investment directions. It has a location in the heart of the region, close to big markets such as ASEAN, China, and India and this enables startups operating in Thailand to connect with a variety of countries. At the same time, it has one of the best infrastructures with a cost of living, lifestyle, and government support in various dimensions, all of which will help drive the emergence of new startup businesses. Here are some of the intriguing highlights:

Thailand’s global ranking for startups

The National Innovation Agency (Public Organization) (NIA), has revealed Thailand’s Global Startup Ecosystem Index ranking for 2023 by StartupBlink, a comprehensive startup ecosystem map and research center. The index ranked 100 countries and 1,000 cities with the best startup ecosystems worldwide and Thailand is ranked 52nd globally, rising by one ranking over the previous year. Meanwhile, Bangkok has surged to 74th place globally among the top 1,000 cities with the best startup ecosystems, making an impressive leap of 25 places and surpassing neighboring cities like Kuala Lumpur in Malaysia, which is ranked 3rd in ASEAN. Additionally, Chiang Mai, Phuket, and Pattaya are among the top 1,000 cities with the best startup ecosystems. Notably, they are highlighted by their remarkable performance in the transportation industry, securing the 43rd global ranking. This underscores the growth of Thailand’s startup ecosystem.

Non-stop growth with giants that are ready to provide support

Another important factor for startup businesses that is indispensable is capital. Thailand has many large companies ready to serve as Corporate Venture Capital (CVC) providers that focus on investing in startups with interesting technologies and innovations. It is also another way to strengthen the strategy and competitiveness of parent companies, such as SCB 10X, one of the first banking groups that adapt to situations where innovation and technology is constantly changing.

With the goal of becoming a leading VC in the country and in the Southeast Asian region ready to drive the creation of new startup businesses and to push them to the unicorn level, AddVentures by SCG aims to find innovation from startups around the world. This is in order to enhance SCG’s efficiency through the search for innovation and the development of new businesses. In addition, Krungsri Finnovate, that is moving ahead to support fintech startups and technology that involves banking in Thailand and the Southeast Asian region, aims to make as many startups become unicorns as possible and is aiming to build a sustainable economic ecosystem in Thailand and Southeast Asia.

There is also a Technology and Innovation-Based Enterprise Development Fund (TED Fund) of the Ministry of Higher Education, Science, Research and Innovation (MHESI) that supports and promotes technology and innovation entrepreneurs, especially new entrepreneurs, to be able to conduct business on the basis of the knowledge of technology and innovation. It is also a catalyst to increase the amount of research and innovation for commercial use which will create value for investment and create a progressive and sustainable economic value.

Government policy is ready to accelerate startups to be strong

Many government agencies are ready to support Thai startups to grow and compete in both domestic and international markets, such as the National Innovation Agency (Public Organization) or NIA as a “Focal Conductor” and to facilitate the innovation ecosystem to be conducive to work potential through the promotion of both capital and knowledge to create innovative businesses that focus on 5 fields. These include food-agriculture, healthcare, tourism, climate, and soft power. It also plays an important role in being a bridge to link various agencies, both public and private, to drive Thailand towards becoming a country of innovation. This is by working with a network of partners both under the Ministry of Higher Education and external agencies such as the Office of the Board of Investment (BOI), the Office of the Science Research and Innovation Board (TSRI), and the Digital Economy Promotion Agency or depa, etc.

Big Campaign Emphasizes Thailand as an Investment Area

Thailand has an economic strategy that continuously promotes the Thai startup ecosystem. There are mega projects that support the growth and investment in innovative startup businesses. This includes the BCG Model that the government uses as a guideline to drive the economy in 3 aspects: Bioeconomy, Circular Economy, and Green Economy.

The goal is to create the sustainability of nature and the environment, to increase the rate of economic growth, to reduce social inequalities and to increase the potential for self-reliance. In addition, it also focuses on developments in two industry groups: 1) innovation development in existing industries (First S-Curve) that already exist in the country to create short-term and medium-term growth, comprising the modern automotive industry, smart electronics, quality tourism, agriculture and biotechnology and high value-added food and 2) innovation development in new industries (New S-Curve) that supports advanced technologies by aiming to be an important mechanism to drive the economy, including the robot industry, aviation, digital, integrated medicine and quality fuels and biochemistry. There is also the Eastern Economic Corridor (EEC), which invests in infrastructure and modern industries in 3 provinces: Chonburi, Rayong and Chachoengsao. which has many business and industrial sectors to support startups.

It can be said that the emergence and growth of startups in Thailand continues to have opportunities. There are many factors, both from the public and private sectors that are willing to upgrade the ecosystem and infrastructure to support business models that could grow quickly, as well as cities with outstanding lifestyles and geography that are waiting to welcome both Thai and foreign investors.

Hashtag: #NationalInnovationAgency #NIA

The issuer is solely responsible for the content of this announcement.

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The forum is organized by the Joseph Sassoon Group, a privately held investment management firm with deep expertise in the Mediterranean region.

NEW YORK, US – Media OutReach – 28 August 2023 – The AMIF American Mediterranean Investment Forum will bring together government officials, business leaders, and investors from Greece, Israel, Cyprus, and the United States to discuss untapped opportunities for economic cooperation in the region. The forum will also explore ways to strengthen the security and stability of the Mediterranean region at large.

Pompeo is a strong advocate for US engagement in the Mediterranean region. He has called for increased investment in the region and for closer cooperation between the United States, Greece, Israel, and Cyprus. He is also a strong supporter of the Abraham Accords, which normalized relations between Israel and several Arab countries.

“The Mediterranean Sea is a vital artery for global commerce and energy, and it is also a region of great strategic importance to the United States.” – Mike Pompeo, former US Secretary of State”.

The US former Secretary of State’s participation in the AMIF is a definite sign that the United States is invested in the peace and prosperity of the Mediterranean region. It is also a boost for the forum, which is expected to attract a large number of high-level participants.

Here are some of the key topics that are likely to be discussed at the AMIF:

• The potential for economic cooperation between Greece, Israel, Cyprus, and the United States
• Ways to strengthen the security and stability of the Mediterranean region
• The Abraham Accords and their impact on the region
• The role of the United States in the Mediterranean region

The AMIF is a timely and important event as it follows the UNGA and the BRICS meetings. The Mediterranean region is vulnerable to continuous increasing challenges, including economic instability, political turmoil, and security threats. The forum is an unprecedented meeting of positive and proactive dialogue to encourage cooperation between the countries of the region. David S. Sasson, Chairman and host of the American Mediterranean Investment Forum, believes the forum can also help to strengthen the US-Mediterranean partnership.

Hashtag: #American #Mediterannean #Greece #Athens #Investment #Europe #Sassoon #Forum

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About Joseph Sassoon Group

Joseph Sassoon Group is a multinational full-service investment bank based in New York City with presence in Middle East , Asia and the Mediterranean.

A philosophy driven approach that gives us independence and courage to develop long-term visions and identify opportunities. It is the world’s oldest privately owned investment management firms with deep expertise spanning the Investment and Asset Management, Investment Banking and Corporate Finance, and Private Banking arenas.

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This content was prepared by Media OutReach. The opinions expressed in this article are the author’s own and do not reflect the view of Siam News.