Latest news with #RCEP
Korea Herald
7 hours ago
- Business
- Korea Herald
Topband Vietnam Facility Sets New Benchmark
BIEN HOA CITY, Vietnam, July 14, 2025 /PRNewswire/ -- In 2024, Topband's Vietnam facility reached an impressive daily output of approximately USD 518,000, with peak daily production capacity hitting 100,000 units—ranking first among all Topband's manufacturing sites (outside China). As a core pillar of our global manufacturing system, the Vietnam facility is emerging as a powerful engine for Topband's transition to the global operations stage. Strategically located in Southeast Asia with proximity to China and access to major trade agreements like RCEP and CPTPP, Vietnam offers a compelling combination of export convenience, skilled labor, and cost advantages. Within this environment, our Vietnam facility plays a critical role in expanding capacity and enhancing global delivery capabilities. Based on Chinese mature manufacturing systems and local operational advantages, the Vietnam facility has established a modern, highly automated, and digitalized production system. With 20 automated lines and MES deployed across nearly 30 lines, the facility enables full-process traceability, real-time material tracking, and rapid exception alerts. Smart production standards ensure seamless alignment with Topband's China operations. To guarantee quality, the facility is equipped with advanced systems such as 3D AOI, vacuum reflow soldering, selective wave soldering, and automated optical screening. Quality data is uploaded in real time to form a closed-loop system, keeping defect rates below 0.2%. Two standardized labs and full-spectrum inspection processes (IQC, IPQC, FQC, OQC) reinforce our commitment to consistent, high-standard output—regardless of production location. Flexible manufacturing is another key differentiator of Topband Vietnam facility. Modular, compact, and diversified production lines enable small-scale trial runs and rapid new product introductions to meet global customer demands. For standard orders, the Vietnam facility enables full-process order fulfillment within 30 days. It also features a mature production transfer mechanism, enabling seamless transitions from other plants to Vietnam facility. Topband believes lean mindset supports long-term efficiency. The Vietnam facility has established a lean production team to continuously identify efficiency improvement opportunities, and a rapid response team to ensure closed-loop management of customer feedback and complaints. Recognized for its consistent performance, the facility has been awarded "Top Supplier" status by major global clients for five consecutive years. Looking ahead, a 75,000㎡ expansion will be operational by March 2026, targeting an annual output of approximately USD 556 million. The goal of the Topband Vietnam facility is to become a regional benchmark factory that integrates cost advantage, high-quality output, and global delivery capability—steadfastly positioning itself as a trusted intelligent manufacturing partner for customers worldwide through reliable and high-standard production capacity.
Barnama
7 hours ago
- Business
- Barnama
From Silos to Strategy: ASEAN Must Converge, Integrate and Lead
Sharing his views from London, Chairman of CARI ASEAN Research and Advocacy, Tan Sri Dr. Munir Majid, said the 32-page, 160-paragraph joint communique covered a wide range of issues. KUALA LUMPUR, July 14 (Bernama) -- The recently concluded 58th ASEAN Foreign Ministers' Meeting (AMM) was hailed as a significant step forward for the regional bloc, with the joint communique described as 'very comprehensive' and a much-needed response to the region's evolving political-security and economic landscape. This initiative, he added, acknowledges the reality that economic issues have increasingly become securitised, particularly amid global disruptions and trade tensions. What stood out most to Munir was the historic decision to initiate formal coordination between ASEAN foreign ministers and economic ministers : 'This is the first time. It's a very good thing because they have not been talking to each other very much. They've been working in silos'. 'The breadth and depth of the issues covered showed that ASEAN officials were seized of the matters at hand. However, there may be one or two little potholes you could identify; but overall, it was a good document," said the Visiting Senior Fellow at the Centre for International Affairs, Diplomacy and Strategy at the London School of Economics (LSE). But with ASEAN, commitments on paper must be matched by concrete national efforts. It is not enough to merely meet – the meetings must lead to outcomes. Munir argued that ASEAN should go further by launching a strategic project to converge the two major regional trade pacts: the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). "RCEP accounts for about 30 per cent of global gross domestic product, largely because of China. CPTPP, on the other hand, covers 18 per cent. Convergence between the two would be a major step towards regional economic integration," he told Bernama. He outlined two pathways for convergence: common membership and common standards. Countries like China, which is part of RCEP but not CPTPP, could be allowed into the latter if they meet required standards. "Let China join and fulfil them. Several CPTPP members have exemptions, so this shouldn't be used as a barrier,' said the ASEAN affairs analyst. Alternatively, both blocs could align on standards such as tariff rates and rules of origin, even if their memberships remain distinct. This, he said, is particularly necessary now, given the US's imposition of new tariffs and increasing controls on investment. ASEAN and its partners need to create new areas of growth among themselves. In April 2025, the US invoked its 'reciprocal tariffs' mechanism, announcing levies ranging from 24 per cent to 49 per cent on imports from ASEAN member states. Under this move, Malaysia was hit with a 24 per cent tariff, Cambodia 49 per cent, Vietnam 46 per cent, while Laos and Myanmar saw 40 per cent, among others. By July, the tariffs were clarified: Malaysia's rate was up by one per cent to 25 per cent, while Vietnam and Cambodia saw reductions (to 20 per cent and 36 per cent respectively), with Indonesia and Thailand remaining at 32 per cent and 36 per cent. Singapore, the Philippines, and Brunei were still awaiting official confirmation of their respective tariff rates. Nevertheless, the Asia-Pacific, Munir emphasised, remains the centre of global economic growth. 'While the US remains a critical player, if America chooses not to participate constructively, the region must move on,' he said. US Engagement: Interests, Investments, and Influence In this regard, Munir welcomed the participation of US Secretary of State Marco Rubio at the AMM and the East Asia Summit (EAS), calling it a sign of continued American interest in the region. He revealed that the EAS was an initiative championed by Malaysia's former Prime Minister, the late Tun Abdullah Ahmad Badawi, and it has grown to include 18 members. Rubio's presence, he noted, shows the US still wants to protect its massive investments in Southeast Asia. "People forget this – US investments in Southeast Asia are larger than in China, Japan, South Korea and India combined. That's a huge interest to protect. 'However, ASEAN must also articulate its own interests clearly. We recognise US interests, but we too must protect ours, without being intimidated by Trump-style tactics," he said, adding that Rubio appeared more accommodative and willing to listen. Addressing Difficult Regional Issues: Myanmar, Cambodia-Thailand and Maritime Security On humanitarian issues, Munir acknowledged ASEAN's efforts to support ceasefire calls in Gaza, though he noted the absence of any unified condemnation of Israeli actions. He acknowledged that there was no consensus in ASEAN on calling it genocide, probably because they wanted to prioritise humanitarian assistance and ceasefire efforts. The prominent ASEAN observer also addressed sensitive issues that were deliberately omitted or underplayed in the communique, including the ongoing border dispute between Cambodia and Thailand. "It is not a domestic matter; it's an international one. But because it's so sensitive, ASEAN decided to call for a ceasefire without assigning blame," he explained. He also voiced concern over illegal ship-to-ship transfer activities, pointing out that these issues require serious enforcement and cooperation. Regarding Myanmar, Munir expressed mixed feelings. While he mentioned continued support for Tan Sri Othman Hashim's efforts as special envoy, Munir said that the region has not seen much progress. He welcomed Foreign Minister Datuk Seri Mohamad Hasan's confirmation that he and four other ASEAN ministers would visit Myanmar in September. "That's good. We have to be active in trying to heal this wound." Urgency for a South China Sea Code of Conduct On the South China Sea issue, Munir noted ASEAN's reference to the 2002 Declaration on the Conduct of Parties (DOC), and the "third reading" of the long-awaited Code of Conduct (COC). "It's been over two decades. I hope something actually materialises soon. Whether legally binding or not, a COC should govern behaviour. If you break the code, you break the code." Munir also stressed the need for ASEAN to step up its role in ensuring the region remains a nuclear weapons-free zone. "ZOPFAN was declared in 1971. Russia and China support this, but the US has yet to fully commit," he said. While Malaysia and the US have signed an MOU on peaceful nuclear energy, he urged Washington to match its economic engagement with security assurances. "We must ensure nuclear weapons don't creep into the region. The radiation effect knows no borders." He also lauded the accession of Algeria and Uruguay to the Treaty of Amity and Cooperation (TAC), which now has 57 signatories. Initiated in 1976, the TAC is ASEAN's umbrella for peaceful dispute resolution and non-interference; and therefore, with more countries joining, shows ASEAN's expanding diplomatic remit is a wonderful thing, he said. Looking Ahead: Priorities for the 47th ASEAN Summit As the region looks towards the 47th ASEAN Summit in October, Munir outlined three concrete hopes: a formal instruction for convergence between RCEP and CPTPP, a firm Code of Conduct on the South China Sea, and accelerated steps towards ASEAN economic integration. "We talk about digital economy and AI, but the free movement of skilled labour is still lacking. More advanced countries must help pull others forward," he said, stressing the potential for ASEAN to add US$3 trillion to its GDP by 2050. On tariffs, particularly the US' 25 per cent tariff on Malaysian goods, Munir urged pragmatism. "Yes, others like Vietnam negotiated better. But they made painful commitments to import more US goods and restrict transshipments. Malaysia must strike a balance between protecting national interests and offering trade-offs." He also cautioned against vilifying Malaysian negotiators. "It's tough. America moves the goalposts. One day it's about tariffs, the next it's about halal certification or AI chip leakages. Trump interferes in domestic policies too." Moving forward, Munir called on ASEAN to stay the course and build a resilient regional economy. "If globalisation has ended with Trump, let us preserve the good parts of it in our region. Let's build a platform for a new global economic order with ASEAN at its centre," he said. -- BERNAMA BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies. Follow us on social media : Facebook : @bernamaofficial, @bernamatv, @bernamaradio Twitter : @ @BernamaTV, @bernamaradio Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial TikTok : @bernamaofficial
Yahoo
10 hours ago
- Business
- Yahoo
Topband Vietnam Facility Sets New Benchmark
BIEN HOA CITY, Vietnam, July 14, 2025 /PRNewswire/ -- In 2024, Topband's Vietnam facility reached an impressive daily output of approximately USD 518,000, with peak daily production capacity hitting 100,000 units—ranking first among all Topband's manufacturing sites (outside China). As a core pillar of our global manufacturing system, the Vietnam facility is emerging as a powerful engine for Topband's transition to the global operations stage. Strategically located in Southeast Asia with proximity to China and access to major trade agreements like RCEP and CPTPP, Vietnam offers a compelling combination of export convenience, skilled labor, and cost advantages. Within this environment, our Vietnam facility plays a critical role in expanding capacity and enhancing global delivery capabilities. Based on Chinese mature manufacturing systems and local operational advantages, the Vietnam facility has established a modern, highly automated, and digitalized production system. With 20 automated lines and MES deployed across nearly 30 lines, the facility enables full-process traceability, real-time material tracking, and rapid exception alerts. Smart production standards ensure seamless alignment with Topband's China operations. To guarantee quality, the facility is equipped with advanced systems such as 3D AOI, vacuum reflow soldering, selective wave soldering, and automated optical screening. Quality data is uploaded in real time to form a closed-loop system, keeping defect rates below 0.2%. Two standardized labs and full-spectrum inspection processes (IQC, IPQC, FQC, OQC) reinforce our commitment to consistent, high-standard output—regardless of production location. Flexible manufacturing is another key differentiator of Topband Vietnam facility. Modular, compact, and diversified production lines enable small-scale trial runs and rapid new product introductions to meet global customer demands. For standard orders, the Vietnam facility enables full-process order fulfillment within 30 days. It also features a mature production transfer mechanism, enabling seamless transitions from other plants to Vietnam facility. Topband believes lean mindset supports long-term efficiency. The Vietnam facility has established a lean production team to continuously identify efficiency improvement opportunities, and a rapid response team to ensure closed-loop management of customer feedback and complaints. Recognized for its consistent performance, the facility has been awarded "Top Supplier" status by major global clients for five consecutive years. Looking ahead, a 75,000㎡ expansion will be operational by March 2026, targeting an annual output of approximately USD 556 million. The goal of the Topband Vietnam facility is to become a regional benchmark factory that integrates cost advantage, high-quality output, and global delivery capability—steadfastly positioning itself as a trusted intelligent manufacturing partner for customers worldwide through reliable and high-standard production capacity. View original content to download multimedia: SOURCE TOPBAND Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Barnama
12 hours ago
- Business
- Barnama
APT Reaffirms Commitment To Economic Integration, WTO Reform Amid Global Uncertainties
BUSINESS KUALA LUMPUR, July 13 (Bernama) -- The ASEAN Plus Three (APT) countries have reaffirmed their strong commitment to deepening regional economic integration and maintaining a rules-based multilateral trading system, amid escalating global economic and trade uncertainties. According to the ASEAN chairman's statement issued after the 26th APT Foreign Ministers' Meeting here, the ministers welcomed the adoption of the ASEAN Leaders' Statement on Responding to Global Economic and Trade Uncertainties. They reaffirmed their resolve in providing meaningful impetus to respond to current trade challenges, supporting the necessary reform of the World Trade Organisation (WTO), and advancing inclusive and sustainable growth. The meeting further underscored the need to advance or upgrade free trade agreements with external partners, reinforce the robustness of supply chains and maximise the utilisation of the Regional Comprehensive Economic Partnership (RCEP) Agreement. The ministers welcomed the progress in the implementation of the RCEP Agreement and the operationalisation of the RCEP Support Unit, which provides institutional support to enhance the agreement's utilisation by the private sector, particularly micro, small and medium enterprises. In the area of regional finance, the meeting welcomed the outcomes of the 28th ASEAN+3 Finance Ministers' and Central Bank Governors' Meeting held on May 4 that reaffirmed the importance of strengthening regional financial cooperation through the ASEAN+3 Finance Process. The meeting also noted ongoing discussions on establishing a paid-in capital structure and welcomed the ASEAN+3 Fiscal Policy Exchange Initiative introduced in 2025 and looked forward to exploring the potential for it to serve as a regular discussion platform. On digital cooperation, the meeting welcomed the APT's support for negotiations on the ASEAN Digital Economy Framework Agreement (DEFA), which will be concluded later this year. The ministers also acknowledged the continued support for the ASEAN Digital Master Plan 2025 and looked forward to sustaining this momentum in the upcoming ASEAN Digital Master Plan 2030.
Borneo Post
2 days ago
- Business
- Borneo Post
Gateway to prosperity: How RCEP and POIC Lahad Datu redefining Sabah's future
This seawater desalination plant utilizes sea-based water sources to provide a more resilient and sustainable solution, directly supporting the robust industrial development envisioned for the region. THE global trade landscape is shifting dramatically, and here in Sabah, we stand at the precipice of a truly transformative era. With the launch of the Regional Comprehensive Economic Partnership (RCEP), the world's largest free trade agreement, a rare and golden opportunity has presented itself. This is our chance, right now, to move from the periphery and claim our rightful place at the center stage of regional commerce. RCEP is more than just a trade deal; it's a colossal economic engine. Encompassing 15 Asia-Pacific nations, including all ten ASEAN members and key partners like China, Japan, South Korea, Australia, and New Zealand, it accounts for nearly 30% of global GDP and a third of the world's population. Since its effectiveness in 2022 for most members, RCEP has been driving unprecedented trade, investment, and opportunities for businesses, workers, and consumers across the region. At the very heart of Sabah's immense potential lies an often-underestimated strategic asset: POIC Lahad Datu Port (POIC Port). This isn't merely another port; it's a potential game-changer, uniquely positioned to unlock not just Sabah's but indeed East Malaysia's vast resources. For too long, the narrative of Malaysia's economic success has been dominated by Peninsular Malaysia. Now, with RCEP fueling regional integration and POIC's strategic location, East Malaysia is poised to claim its central role in this exciting new economic chapter. Think of RCEP as building a superhighway for goods and services across these 15 Asia-Pacific nations. What does this mean for us? For POIC Lahad Datu Port, it translates into more cargo, more ships, and significantly more business. As trade barriers fall and customs procedures become streamlined, it becomes easier and cheaper to export our goods to massive markets like China, Japan and South Korea. POIC Sabah Sdn. Bhd., the port operator has already honed its focus on providing top-tier port services, from liquid bulk to containers. This specialization is a major strength, and with the RCEP propelling regional trade, the demand for efficient port services is expected to skyrocket. Imagine the direct contribution to Sabah's economy as every ton of palm oil and other agricultural commodities moves through POIC's terminals. But the benefits extend beyond just trade. RCEP also acts as a magnet for investment. Companies from RCEP member countries are actively seeking strategic locations to establish their operations, and POIC's industrial zone is an ideal candidate. Picture a Korean manufacturing company setting up a processing plant right next to the port, capitalizing on seamless logistics and preferential tariffs. This kind of investment directly creates jobs, introduces new technology, and fosters a more sophisticated supply chain right here in Lahad Datu. Here's where it gets even more intriguing. While RCEP focuses on trade within the Asia-Pacific bloc, POIC Lahad Datu possesses a geographic advantage that extends far beyond it. Look at a map: it's perfectly situated along the Lombok-Makassar Straits, a vital deepwater shipping lane connecting the Pacific and Indian Oceans. This route serves as a crucial alternative to the bustling Straits of Malacca, particularly for ships traveling between East Asia and Australia. With a natural depth of 20 meters, POIC Port can effortlessly accommodate the largest vessels on these routes. This makes POIC Port a natural pit stop for two-way trade: we can import raw materials from Australia and efficiently export our goods. This isn't merely a theoretical benefit; it's a ready-made trade route waiting for us to embrace fully. It gives POIC Port a powerful dual role: a key node within the RCEP network and a critical hub on a major global shipping artery. Recently, a new seawater desalination plant has been established, significantly enhancing POIC Lahad Datu's strategic appeal. This achievement is thanks to the foresight of Datuk Seri Panglima Yong Teck Lee, Chairman of POIC, and Datuk Fradian Gan, CEO of POIC. The critical infrastructure project, a collaboration between Jetama Sdn Bhd and POIC, marks a vital step towards bolstering water security and sustainability for both the industrial zone and the wider region. A significant stride in securing Sabah's long-term water independence and bolstering industrial growth is the establishment of a new seawater desalination plant at POIC Lahad Datu Port. This pioneering project, a collaborative effort between Jetama Sdn Bhd and POIC, will initially produce 0.5 million liters per day (MLD) of water, with plans for a scalable expansion to 2.5 MLD to meet the escalating industrial demands of the area. Strategically located at POIC Lahad Datu, the plant will efficiently draw seawater from the Dry Bulk Terminal. This initiative marks a pivotal shift for Sabah, moving away from its traditional reliance on river-based water sources towards a more resilient and sustainable solution, directly supporting the robust industrial development envisioned for the region. To truly capitalize on this golden moment, POIC Port must proactively implement key strategies. Firstly, upgrading infrastructure by expanding warehousing and cold storage facilities is crucial to efficiently handle the diverse range of cargo expected from increased international trade, encompassing everything from fresh produce to manufactured goods. Secondly, embracing digital transformation is paramount; implementing advanced systems like AI-powered customs clearance and blockchain for cargo tracking will position POIC as a leader in logistics technology, expediting processes and fostering trust and transparency in global trade. Finally, aggressive marketing and enhanced connectivity are vital; this includes forging stronger partnerships with global shipping lines to establish direct routes to RCEP countries and Australia, while simultaneously improving local road and rail links to ensure seamless cargo movement throughout Sabah, fully integrating the entire region into this burgeoning network. The future is here, and it's being built right now in Lahad Datu. By leveraging the immense power of RCEP, our unbeatable geographical location, and now, a pioneering seawater desalination plant, POIC can become a cornerstone of Malaysia's logistics network, driving prosperity for Sabah and solidifying our nation's crucial role in the new Asia-Pacific trade era. It's time to seize this moment, Sabah.
