“Semiconductors are about chip design; that’s microelectronics. We need strong microelectronics education to compete in the global semiconductor market… In the future, it is important for us to direct human resources toward the Golden Indonesia vision.” he stated after an economic seminar in Jakarta.

Hartarto said that, in the short term, vocational education in the country needs to be improved to produce human resources (HR) who are competent in the field of semiconductors. According to him, vocational schools are well-positioned to produce a highly technical workforce for chip production.

The government has also sought to improve vocational education by issuing regulations in the form of super tax deductions, he added. According to Government Regulation (PP) Number 45 of 2019, the super deduction tax is a tax incentive provided by the government to industries involved in vocational education programs, including research and development activities to produce innovations.

“It has been made easier because there were concerns from corporations regarding audits and others. The Minister of Finance also made the process easier, and it is hoped that it will start to be utilized,” Hartarto said.

He also said that to achieve the Golden Indonesia 2045 vision, Indonesia must continue structural transformation, increase human resources, and develop new engines of growth.

“Especially, the additional engine of growth is in the digitalization sector because Indonesia already has a digital economy framework agreement in ASEAN,” he added.

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The post Indonesian Minister for Economic Affairs Acknowledges Lack In Microelectronics Knowledge appeared first on Asia Pacific Metalworking Equipment News | Manufacturing | Automation | Quality Control.

Expanding into emerging markets is a golden opportunity for businesses aiming to diversify and broaden their reach. Vietnam is one of the most talked about hot spots in the metalworking sector.

The country’s initiatives to attract foreign direct investments (FDI) have significantly contributed to Vietnam’s robust economic growth. Increased foreign investments lead to higher production capacities, job creation, and improved infrastructure, boosting overall economic activity.

Vietnam’s manufacturing sector, especially electronics, textiles, and footwear, has been a major driver of its economic growth. The country has become a manufacturing hub for multinational companies looking to take advantage of its skilled labour force, competitive wages, and strategic location. 

Other sector such as the energy — its solar and wind energy projects are gaining traction as the government aims to reduce its reliance on fossil fuels. There is a plethora of possibilities to have a presence in the country. The million-dollar question is: does a firm need to kiss many frogs before it meets a prince?

Three Selection Benchmarks

To begin with, language is of utmost importance given communication is vital in any business transaction. Vietnam’s government and educational institutions have been actively promoting English education, and there has been a growing demand for English language courses and tutoring.

The rise of technology and the internet has provided more access to English-language content, which has contributed to improving language skills. However, language proficiency can vary widely across different regions and demographic groups within the country.

While many Vietnamese individuals have a basic understanding of English, the level of proficiency can differ from person-to-person. This is why it is essential to work with partners who do more than just selling equipment.

What any firm needs is a partner who can collaborate to provide the best possible outcome. Assuming the English proficiency box has been checked, the following are three benchmarks to lead your company to the best suitable local partner.

1. Knowledge Is Power(ful)

It is simply not sufficient that a local potential “knows machines”. That is the best recipe for a loss making deal as the partner will likely be unable to provide consultancy services in the whole spectrum of manufacturing process corresponding to the equipment you are selling.

Technical expertise from raw materials, cycle times, dimensional and surface tolerances, even documentation requirements are just some of the basics that your local partner should know before it gets into your list of shortlisted candidates.

Read more here  https://shorturl.at/gjrD4

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The post Finding The Right Partner When Expanding In Emerging Markets appeared first on Asia Pacific Metalworking Equipment News | Manufacturing | Automation | Quality Control.