Category: CTF

  • MIL-OSI Asia-Pac: LCQ9: Measures on alienation restrictions for subsidised sale housing

    Source: Hong Kong Government special administrative region

         Following is a question by the Hon Leung Man-kwong and a written reply by the Acting Secretary for Housing, Mr Victor Tai, in the Legislative Council today (July 2):
     
    Question:
     
         Subsidised sale housing (e.g. the Home Ownership Scheme (HOS) and the Green Form Subsidized Home Ownership Scheme (GHS) of the Hong Kong Housing Authority (HA) as well as the Subsidised Sale Flats Project of the Hong Kong Housing Society (HS)) aim at offering affordable housing to low to middle-income families, whereas HA and HS have, over the years, adopted measures such as imposing alienation restrictions and requiring premium payment to ensure the efficient use of the relevant resources for people in need to acquire their homes. Regarding the measures on alienation restrictions for subsidised sale housing, will the Government inform this Council:
     
    (1) in respect of each subsidised sale housing scheme launched by HA and HS in each of the past 10 years, of the total number of flats resold with premium (a) paid and (b) unpaid, together with a breakdown of such flats by (i) age distribution (i.e. within five years, between five to 10 ‍years and over 10 years), and (ii) distribution of transaction prices (i.e. less than $1 million, $1 million to $2 million, $2 million to $3 ‍million, $3 million to $5 million, $5 million to $7 million, and over $7 million);
     
    (2) of the current number of HOS flats which the alienation restriction period has expired and are eligible for application for resale upon payment of premium, and among them, the proportion of flats which have been resold with premium paid;
     
    (3) of the current number of HOS flats which have never been resold after purchase and its percentage in the total number of HOS flats, together with a breakdown by age of the flats; and
     
    (4) whether the Government will study prohibiting the resale of flats in the private market upon payment of premium in the future HOS and GHS projects, and changing to allow transactions in the secondary market of HOS flats only; if not, of the reasons for that?
     
    Reply:
     
    President,
     
         In response to the questions raised by the Hon Leung Man-kwong, our reply is as follows:
     
    (1) The Hong Kong Housing Authority (HA) has all along been striving to enhance the housing ladder, with a view to helping low to middle-income families achieve home ownership through the sale of subsidised sale flats (SSF). In the next five years (i.e. from 2025/26 to 2029/30), the HA and the Hong Kong Housing Society (HKHS) will have a completion of about 56 500 SSF. We believe that the relevant flats can facilitate people in need to achieve their dream of home ownership. We also encourage members of the public to move up the suitable housing ladder according to their own ability.
     
         In addition to sale of first-hand SSF, the HA also allows SSF owners to sell their flats with premium unpaid in the Home Ownership Scheme (HOS) Secondary Market, or to sell, let or otherwise assign their flats in other ways in the open market after payment of premium. The discount rate that HOS owners enjoyed in purchasing their flats will form the basis for premium assessment for removal of the alienation restrictions.
     
         On the other hand, the HKHS’ SSF with premium unpaid are also subject to alienation restrictions. In 1997, the HKHS launched the Flat-For-Sale Scheme (FFSS) Secondary Market, enabling flat owners under HKHS’ relevant projects to resell their flats to eligible persons with premium unpaid, subject to the conditions in the respective land lease and provided that such owners have fulfilled the designated ownership period since the date of first assignment.
     
         Since flats with payment of premium are regarded as private units, the HA and the HKHS do not hold the information on whether relevant flats have been resold, and do not maintain transaction figures of SSF for which premium has been paid in the open market.
     
         The numbers of transactions of HA’s HOS and Green Form Subsidised Home Ownership Scheme (GSH) flats in the HOS Secondary Market in the past 10 years are set out in Annex 1. The total number of transactions amounted to about 21 200. In fact, the HA has all along encouraged the circulation of SSF in the Secondary Market through various initiatives, including the relaxation of the mortgage arrangements for SSF in 2024 to extend the maximum mortgage default guarantee period for the secondary market from 30 years to 50 years, so that buyers can secure mortgage loans of a longer tenor. In the 12 months after the implementation of relevant arrangements, the average number of transactions of second-hand SSF was about 370 per month, which was about 60 per cent higher than the average number of transactions of about 230 per month in the 12 months before the implementation (i.e. from March 2023 to February 2024), representing a significant increase. The total number of transactions of HOS flats in the HA’s Secondary Market in 2024 was 3 380, representing an increase of about 1.6 times as compared with the total number of transactions of about 1 320 in 2015.
     
         The numbers of transactions of HKHS’ SSF flats without payment of premium in the FFSS Secondary Market in the past 10 years are set out by year in Annex 2.
     
    (2) As at the first quarter of 2025, the HA had about 320 000 HOS flats of which the alienation period has expired, which can be resold in the open market after payment of premium. Among them, 19 per cent of the flats have been paid with premium.
     
         As at the first quarter of 2025, the HKHS had about 22 000 SSF flats of which the alienation restriction period has expired and can be resold in the open market upon payment of premium. Among them, 22 per cent of the flats have been paid with premium.

    (3) As at the first quarter of 2025, the HA has about 230 000 HOS flats with premium not yet paid and have not been resold. For details of the figures categorised by building age and proportion, please see Annex 3.
     
         As at the first quarter of 2025, HKHS has about 15 000 SSF flats with premium not yet paid and have never been resold. For details of the figures categorised by building age and proportion, please see Annex 4.

    (4) In order to effectively curb short-term speculative activities, the HA tightened the alienation restrictions of HOS and GSH flats in January 2022. The period where the owners can only sell at no more than the original price in the Secondary Market with premium unpaid has been lengthened from the first two years since first assignment to the first five years since first assignment; while the restriction period for sale in the open market after payment of premium has also been lengthened from the first 10 years since first assignment to the first 15 years since first assignment. All HKHS SSF developments completed in 2024 or beyond also adopt the aforementioned tightened alienation restrictions introduced by the HA in 2022.
     
         Allowing HOS and GSH flat owners to sell their flats after the restriction period can facilitate the circulation of second-hand SSF, thereby increasing SSF supply in the market. On the other hand, this measure provides opportunities for owners to move on to the private property market on the housing ladder, which is an initiative to encourage owners’ upward mobility and strengthen social’s mobility.

    MIL OSI Asia Pacific News

  • MIL-OSI: Guaranteed Installment Loans for Bad Credit Direct Lenders Guaranteed Approval No Credit Check Installment Loans By Loans At Last

    Source: GlobeNewswire (MIL-OSI)

    New York City, July 02, 2025 (GLOBE NEWSWIRE) — As financial uncertainty continues to impact households across the U.S., consumers with poor credit histories are increasingly turning to guaranteed installment loans for bad credit direct lenders to manage unexpected expenses. These flexible loan options are designed to provide fast, accessible funds to borrowers who may not qualify for traditional financing.

    >>> Applicants interested in exploring installment loan options can review lender >>>

    According to a Federal Reserve study, more than 60% of Americans would find it difficult to cover a $400 emergency cost without borrowing, highlighting the critical need for alternative lending solutions. As a result, demand has surged for products such as bad credit personal loans guaranteed approval direct lenders, emergency loans online guaranteed approval, and no credit check installment loans guaranteed approval direct lender offerings.

    >>> It’s important for borrowers to understand the application process >>>

    The Growing Demand for Installment Loans for Bad Credit

    For millions of Americans, traditional bank loans come with barriers such as high credit score requirements, hard credit checks, or collateral demands. In contrast, guaranteed installment loans for bad credit direct lenders only focus on offering

    In recent years, more borrowers have been seeking alternatives to traditional bank loans due to challenges such as stringent credit requirements and limited access to emergency funds. Installment loans have become a practical option for those who prefer predictable monthly payments and flexible repayment terms. These loans are often used to manage expenses like car repairs, medical bills, or overdue utilities without requiring collateral or perfect credit histories.

    These loans help cover urgent expenses including medical bills, home or car repairs, utility payments, and more. By spreading repayments over several months or years, they offer a manageable alternative to payday loans.

    Bad Credit Personal Loans Guaranteed Approval $5,000 Meeting Larger Financial Needs

    While smaller loan amounts may address minor expenses, many emergencies require more substantial funds. Bad credit personal loans guaranteed approval $5,000 have emerged as a solution for borrowers who need higher loan amounts to manage:

    • Significant auto or home repairs
    • Medical treatments not covered by insurance
    • Consolidation of high-interest debt
    • Rent or mortgage catch-up payments

    Lenders offering these products typically review income and employment status to determine eligibility, making them accessible even for those with low credit scores. The fixed installment structure also helps borrowers plan their budgets effectively.

    No Credit Check Installment Loans Guaranteed Approval Direct Lender 

    Hard credit inquiries can lower credit scores further, discouraging some borrowers from applying for much-needed loans. No credit check installment loans guaranteed approval direct lender solutions address this by:

    Some lenders assess applicants using alternative methods rather than traditional credit checks. In these cases, they may consider factors like income level, employment stability, and overall ability to repay. This approach can reduce the likelihood of further impacting the borrower’s credit score, which is especially important for individuals working to rebuild their financial standing.

    These loans provide peace of mind to borrowers who want to avoid additional damage to their credit profiles while securing essential funds.

    Emergency Loans Online Guaranteed Approval — Quick Cash When It Counts

    Emergencies rarely wait for slow traditional loan approvals. Emergency loans online guaranteed approval have become a vital resource for:

    • Same-day or next-day funding to manage urgent expenses
    • Fast online application processes that take only minutes
    • Direct deposit of funds for immediate use

    Common uses include medical emergencies, last-minute travel, and urgent repairs to vehicles or essential home systems. These loans provide crucial support when timing is critical.

    Online Access to Installment Loan Options

    Many borrowers today are turning to online platforms to explore installment loan options. These digital tools allow consumers to compare loan types, review eligibility criteria, and submit applications from the convenience of their homes. The use of online lending has increased significantly in recent years, offering broader access to financial products across varying credit profiles.

    • Bad credit personal loans guaranteed approval $5,000 – These loans are designed for individuals with poor credit who need access to up to $5,000. They often claim guaranteed approval, but actual approval depends on income and repayment ability.
    • No credit check installment loans guaranteed approval direct lender – This type of loan allows borrowing without a credit check, often through direct lenders. Payments are made in fixed installments, and approval is generally based on income, not credit history.
    • Emergency loans online guaranteed approval – Emergency loans offer quick access to funds during urgent situations. While they advertise guaranteed approval, most lenders still require basic eligibility checks.

    This model eliminates the need to approach multiple lenders individually and helps consumers compare loan offers side-by-side.

    What to Know Before Applying

    While phrases like guaranteed loan approval no credit check and best bad credit loans guaranteed approval are appealing, responsible borrowing requires careful review. Borrowers should:

    • Confirm that lenders are licensed in their state
    • Understand all fees, APRs, and repayment terms
    • Borrow only what they can realistically repay

    About Loans at Last

    Founded in 2018, Loans at Last is an online platform that connects U.S. consumers to a network of licensed direct lenders offering installment loan options. The platform focuses on helping borrowers explore loans suited to their needs while ensuring transparency and compliance with lending regulations.

    Disclaimer

    Loans at Last is not a lender and does not make credit decisions. Loan offers, APRs, amounts, and repayment terms are determined by third-party lenders and may vary based on applicant qualifications and state law. Borrowers should review all loan terms before accepting any offer.

    Final Thought

    In today’s challenging economic climate, guaranteed installment loans for bad credit direct lenders provide vital support to Americans navigating urgent financial needs. Platforms like Loans at Last help connect borrowers to responsible lenders offering flexible options, ensuring individuals can access the funds they need with confidence.

    Project Name: Loans At Last
    Registered Office Address: 1095 Sugar View Dr Ste 500 Sheridan, WY 82801
    Company Website: https://loansatlast.com/
    Email: smith@loansatlast.com
    Phone: 307-777-7311
    Contact person name: Smith
    contact person email: smith@loansatlast.com

    Attachment

    The MIL Network

  • MIL-OSI: Guaranteed Installment Loans for Bad Credit Direct Lenders Guaranteed Approval No Credit Check Installment Loans By Loans At Last

    Source: GlobeNewswire (MIL-OSI)

    New York City, July 02, 2025 (GLOBE NEWSWIRE) — As financial uncertainty continues to impact households across the U.S., consumers with poor credit histories are increasingly turning to guaranteed installment loans for bad credit direct lenders to manage unexpected expenses. These flexible loan options are designed to provide fast, accessible funds to borrowers who may not qualify for traditional financing.

    >>> Applicants interested in exploring installment loan options can review lender >>>

    According to a Federal Reserve study, more than 60% of Americans would find it difficult to cover a $400 emergency cost without borrowing, highlighting the critical need for alternative lending solutions. As a result, demand has surged for products such as bad credit personal loans guaranteed approval direct lenders, emergency loans online guaranteed approval, and no credit check installment loans guaranteed approval direct lender offerings.

    >>> It’s important for borrowers to understand the application process >>>

    The Growing Demand for Installment Loans for Bad Credit

    For millions of Americans, traditional bank loans come with barriers such as high credit score requirements, hard credit checks, or collateral demands. In contrast, guaranteed installment loans for bad credit direct lenders only focus on offering

    In recent years, more borrowers have been seeking alternatives to traditional bank loans due to challenges such as stringent credit requirements and limited access to emergency funds. Installment loans have become a practical option for those who prefer predictable monthly payments and flexible repayment terms. These loans are often used to manage expenses like car repairs, medical bills, or overdue utilities without requiring collateral or perfect credit histories.

    These loans help cover urgent expenses including medical bills, home or car repairs, utility payments, and more. By spreading repayments over several months or years, they offer a manageable alternative to payday loans.

    Bad Credit Personal Loans Guaranteed Approval $5,000 Meeting Larger Financial Needs

    While smaller loan amounts may address minor expenses, many emergencies require more substantial funds. Bad credit personal loans guaranteed approval $5,000 have emerged as a solution for borrowers who need higher loan amounts to manage:

    • Significant auto or home repairs
    • Medical treatments not covered by insurance
    • Consolidation of high-interest debt
    • Rent or mortgage catch-up payments

    Lenders offering these products typically review income and employment status to determine eligibility, making them accessible even for those with low credit scores. The fixed installment structure also helps borrowers plan their budgets effectively.

    No Credit Check Installment Loans Guaranteed Approval Direct Lender 

    Hard credit inquiries can lower credit scores further, discouraging some borrowers from applying for much-needed loans. No credit check installment loans guaranteed approval direct lender solutions address this by:

    Some lenders assess applicants using alternative methods rather than traditional credit checks. In these cases, they may consider factors like income level, employment stability, and overall ability to repay. This approach can reduce the likelihood of further impacting the borrower’s credit score, which is especially important for individuals working to rebuild their financial standing.

    These loans provide peace of mind to borrowers who want to avoid additional damage to their credit profiles while securing essential funds.

    Emergency Loans Online Guaranteed Approval — Quick Cash When It Counts

    Emergencies rarely wait for slow traditional loan approvals. Emergency loans online guaranteed approval have become a vital resource for:

    • Same-day or next-day funding to manage urgent expenses
    • Fast online application processes that take only minutes
    • Direct deposit of funds for immediate use

    Common uses include medical emergencies, last-minute travel, and urgent repairs to vehicles or essential home systems. These loans provide crucial support when timing is critical.

    Online Access to Installment Loan Options

    Many borrowers today are turning to online platforms to explore installment loan options. These digital tools allow consumers to compare loan types, review eligibility criteria, and submit applications from the convenience of their homes. The use of online lending has increased significantly in recent years, offering broader access to financial products across varying credit profiles.

    • Bad credit personal loans guaranteed approval $5,000 – These loans are designed for individuals with poor credit who need access to up to $5,000. They often claim guaranteed approval, but actual approval depends on income and repayment ability.
    • No credit check installment loans guaranteed approval direct lender – This type of loan allows borrowing without a credit check, often through direct lenders. Payments are made in fixed installments, and approval is generally based on income, not credit history.
    • Emergency loans online guaranteed approval – Emergency loans offer quick access to funds during urgent situations. While they advertise guaranteed approval, most lenders still require basic eligibility checks.

    This model eliminates the need to approach multiple lenders individually and helps consumers compare loan offers side-by-side.

    What to Know Before Applying

    While phrases like guaranteed loan approval no credit check and best bad credit loans guaranteed approval are appealing, responsible borrowing requires careful review. Borrowers should:

    • Confirm that lenders are licensed in their state
    • Understand all fees, APRs, and repayment terms
    • Borrow only what they can realistically repay

    About Loans at Last

    Founded in 2018, Loans at Last is an online platform that connects U.S. consumers to a network of licensed direct lenders offering installment loan options. The platform focuses on helping borrowers explore loans suited to their needs while ensuring transparency and compliance with lending regulations.

    Disclaimer

    Loans at Last is not a lender and does not make credit decisions. Loan offers, APRs, amounts, and repayment terms are determined by third-party lenders and may vary based on applicant qualifications and state law. Borrowers should review all loan terms before accepting any offer.

    Final Thought

    In today’s challenging economic climate, guaranteed installment loans for bad credit direct lenders provide vital support to Americans navigating urgent financial needs. Platforms like Loans at Last help connect borrowers to responsible lenders offering flexible options, ensuring individuals can access the funds they need with confidence.

    Project Name: Loans At Last
    Registered Office Address: 1095 Sugar View Dr Ste 500 Sheridan, WY 82801
    Company Website: https://loansatlast.com/
    Email: smith@loansatlast.com
    Phone: 307-777-7311
    Contact person name: Smith
    contact person email: smith@loansatlast.com

    Attachment

    The MIL Network

  • MIL-OSI Economics: Sanjay Malhotra: Convocation address – Indian Institute of Technology

    Source: Bank for International Settlements

    Chairman of the Board of Governors, Director of the Institute, Prof and Padma Shree Manindra Agrawal, winner of numerous awards, who was my senior here and who I hold in very high esteem, faculty members, staff, proud parents, family and friends of the graduating students, distinguished guests, and my dear graduating students, alumni, ladies and gentlemen.

    Today marks the culmination of an exciting chapter for the graduating students, where you have not only learnt new things – academic and extra-curricular – but have also had an enjoyable and memorable experience. I extend a very warm congratulations to all the graduating students. Please give yourselves a huge round of applause.

    To the parents and guardians, this moment belongs as much to you as it does to your children and wards. Your innumerable sacrifices, continuous support, unconditional love and unwavering encouragement have laid the foundation upon which these young achievers now stand. I know this is an emotional and proud moment for you. I have myself experienced these emotions when my sons graduated – one from IIT Bombay and the other from IIT Guwahati. My warmest congratulations to you as your ward steps into a new chapter in life.

    Dear graduates, it is a special day for you as you enter a new and exciting phase of life. It is an equally special day for me and doubly so. First, this institute has had a transformational impact on me, my life and my thoughts. I remember with nostalgia my years at IIT. I still vividly remember my first day at IIT when my mother came to drop me with another batchmate. I recollect my days at Hall III and then Hall I, the healthy rivalry between Hall II and Hall III, phatta cricket, bulla, the various celebrations at Red Rose Restaurant on the campus and Chung Fa restaurant in the city, movies at L7, DEC 10 of which we were so proud, the iconic library, Culfest and the many friends that I made and treasure till date. The steel trunk which carried my belongings to IIT and which my loving wife has preserved till date is still with me. I still have my Wilson tennis racket, with which I religiously played every evening at the clay courts on campus. IITK has a special place in my heart. This convocation ceremony is even more special as I did not attend our convocation ceremony; in fact, we did not have a proper convocation ceremony, perhaps the only batch not to have it. So, it’s an honour to be back here after thirty-six long years in a new and privileged role and be a part of the convocation ceremony today. Thank you, IIT, for this honour.

    Times have changed a lot since I graduated. But there are certainly lessons which endure time. As a fellow-alumnus, roll number 85213, who has experienced life after campus, I will speak about four learnings from my journey.

    Learning for Life

    Many of you would have got your dream jobs. Others, who plan to pursue further studies, would get them soon. With a degree from a prestigious institute and a good job in hand, please don’t think that you have arrived. The moment you think you have arrived, you will stagnate. The moment you believe you know everything, you will stop growing.

    This is just the beginning, only the first step. The degree has only laid a solid foundation and will take you thus far. You will need to build from here. You will need to learn when you change sectors, move across organisations within a sector, take up different roles within an organization and even within the same role in an organisation. Technology is advancing at a lightning speed. What you learnt yesterday would be outdated tomorrow as new ideas and tools emerge daily.

    I can assure you that the institute has prepared you well for your life ahead. It has not only imparted you with knowledge which will be of immense use but, more importantly, equipped you with the most important tool – the tool of self-learning.

    Like other IAS officers, I worked in diverse fields like urban management, land resources, industries, power, health, taxation, banking, finance, etc. Many of them were general management but many were highly technical and specialized, which had a steep learning curve. The IITK emphasis on basic sciences and core engineering subjects, its importance to the fundamentals of a subject, its priority to deriving the formulae rather than merely memorizing and applying them, its attention to problem-solving from first principles, and various other methods of problem solving have held me in good stead. IIT gave me the necessary tools for self-learning. I am sure it has given you too the same tools.

    So, continue your quest for knowledge. Remember that learning is for life. The moment one is not learning, it is a signal that one is not growing; one is not advancing. It is knowledge which will keep you ahead of others. Its importance cannot be over-emphasized. I urge you all, as Stephen Covey said, to continuously sharpen your saw and cut the grass under your feet.

    Question the status quo

    My second learning pertains to the period between 2003 and 2006, when I was working in the United Nations. I was managing a project to improve productivity in the hand tools clusters in India. We hired a Total Quality Management expert for some of our interventions. He had long and diverse experience across organisations.

    He challenged the forging units there to reduce the time taken in changing a die from about eight hours to less than an hour. All of them including the most advanced, productive and efficient forging units vehemently denied the possibility of reducing the time. When he failed after many days of trying to convince them to improve, he suggested some changes including installation of a video camera. This was tried in a unit. These small changes reduced the time to five hours. When asked, the supervisor, apart from other things, explained that the work started on time, as scheduled; no one was late; no one took an unscheduled tea break; all required equipment were pre-arranged and kept ready for use; there was no wastage of time. The small changes and videography did the trick as everyone was being watched. What followed was a series of improvements or what are called kaizens, not only in the exchange of dies, but also various other processes – forging, grinding, electroplating, packaging, etc, as every process was questioned. We ended up reducing costs by about 10%.

    I learnt to question the status quo. I learnt that there is always scope for improvement. This helped me improve efficiency in various organisations and departments that I worked in. It helped in reducing processing time of files. I reduced turnaround times for applications. It helped me make changes in laws, rules and procedures for the benefit of citizens and government alike, as I questioned the status quo.

    As Albert Einstein famously said, “The important thing is not to stop questioning.” When you question the status quo and ask questions, you open the door to new ideas and fresh perspectives. It is fuel for innovation; it drives you to explore, experiment, and create something better. So, no matter where you are in life or your career, never stop questioning the status quo and improving.

    Pursue virtuous Karma

    The third learning pertains to my tenure as Secretary, Department of Personnel in the Government of Rajasthan in 2007-08. Promotions from the state civil service to the IAS were plagued with disputes and court cases. For almost about 20 years, no one was promoted to the IAS. My predecessors did not take up this issue as they thought it would be an exercise in futility as some aggrieved officer will approach the doors of the judiciary. When I was given responsibility for this department, I took up the gauntlet. I studied all the disputes and judicial pronouncements meticulously; decided on claims of seniority and promotion, without fear or favour; finalized and published the seniority lists; and after spending months on this mammoth exercise, sent the proposals to UPSC for promotion. Just when we were about to convene the meeting for promotion, one officer again approached the court and got a stay. Months of my hard work was brought to nought. Even though many officers commended me for the hard work and getting the matter so close to finalization, I was disappointed.

    I had to leave for Princeton for my masters within a few days and could not pursue the case in the courts. After I returned, I was put in a different department. In a few years, the court lifted the stay. I was asked if I would be interested in giving finishing touches to the work I had initiated. Once bitten, twice shy, I did not take up the challenge this time. The work was completed by another officer. In recognition of his efforts, he was conferred with the state award for civil service.

    I realized I did not follow my karma as I feared failure. I realized I needed to follow my karma boldly and decisively without bothering about the results.

    Without going in to details of my journey thereafter, today, as I look back, I can confidently say that it is karma that largely determines outcomes and results. It is the path that one chooses that broadly determines the destination. Today, I appreciate how true Steve Jobs was when he said, “You can’t connect the dots looking forward; you can only connect them looking backward.” Right now, you may not fully grasp how your karma – each late-night lab session, each frustrating bug, and each decision that you take – will impact your journey. You may not appreciate, how delayed gratification, the hallmark of all great leaders, will deliver bigger success over the longer term for the instant rewards foregone. But trust me, over time, the dots will connect and it will be in large measure due to your karma.

    Trust

    My last learning is from the student days in IIT, when we were always short of money and under debt. Food at the mess was as good as it can be. We relied heavily on the hostel canteen. A samosa at that time costed 35 paise and a bottle of Thums Up 2 rupees and 25 paise. The canteen was managed by a person called Lala. Lala was loved by everyone. He would serve us till late in night and very generously gave us credit. Even outside hostel, we got credit from the juice vendor, the shops in Shopping Centre, etc. This may not be surprising. Lala knew us, recognizing us as hostelers. Other vendors too recognized us as students from the campus. What was surprising though was that we got credit even from some shopkeepers in Kanpur, who did not know us at all. Why did these shopkeepers give credit to us? It is because of their trust in the IIT students.

    It is because people do business with people they trust. Trust is the foundation on which any relationship is built, whether it is marriage, friendship, or at workplace – between the CEO and the employees, or between a company and its consumers.

    It is trust in a person that makes him a leader; it is trust which makes people follow a leader. Integrity and ethics are paramount to develop trust. It is not easy to gain trust. To earn trust, a leader must have the courage to take difficult decisions. He must act in the interest of the employees and other stakeholders. He must be willing to accept responsibility. He must lead by example. He must possess the humility to learn from his mistakes. He must be just, transparent and respectful. Trust takes time to build. But it is easy to lose trust. To be a successful person, a successful leader, graduating students, try to gain trust and having gained it, preserve trust.

    Your time to shine

    To conclude, dear graduating students, as you leave this campus today, have confidence in yourself. Dream big, but more importantly, act on those dreams. Make IIT Kanpur proud. Make your parents proud. Make India proud. But most importantly, make yourselves proud – proud by living lives of character, ethics and humility; lives filled with purpose, service and impact. As you step into tomorrow, carry with you the spirit of this institution, carry with you the love of your families, and carry with you the dreams of a billion Indians who believe in your potential.

    Your journey of transformation began here at IIT Kanpur. Now, transform the world as leaders who are trustworthy; who continue learning for life; who question the status quo and who pursue virtuous karma.

    May God bless you with all the very best in your journey ahead.

    Thank you.

    Jai Hind.

    MIL OSI Economics

  • MIL-OSI Economics: Sanjay Malhotra: Convocation address – Indian Institute of Technology

    Source: Bank for International Settlements

    Chairman of the Board of Governors, Director of the Institute, Prof and Padma Shree Manindra Agrawal, winner of numerous awards, who was my senior here and who I hold in very high esteem, faculty members, staff, proud parents, family and friends of the graduating students, distinguished guests, and my dear graduating students, alumni, ladies and gentlemen.

    Today marks the culmination of an exciting chapter for the graduating students, where you have not only learnt new things – academic and extra-curricular – but have also had an enjoyable and memorable experience. I extend a very warm congratulations to all the graduating students. Please give yourselves a huge round of applause.

    To the parents and guardians, this moment belongs as much to you as it does to your children and wards. Your innumerable sacrifices, continuous support, unconditional love and unwavering encouragement have laid the foundation upon which these young achievers now stand. I know this is an emotional and proud moment for you. I have myself experienced these emotions when my sons graduated – one from IIT Bombay and the other from IIT Guwahati. My warmest congratulations to you as your ward steps into a new chapter in life.

    Dear graduates, it is a special day for you as you enter a new and exciting phase of life. It is an equally special day for me and doubly so. First, this institute has had a transformational impact on me, my life and my thoughts. I remember with nostalgia my years at IIT. I still vividly remember my first day at IIT when my mother came to drop me with another batchmate. I recollect my days at Hall III and then Hall I, the healthy rivalry between Hall II and Hall III, phatta cricket, bulla, the various celebrations at Red Rose Restaurant on the campus and Chung Fa restaurant in the city, movies at L7, DEC 10 of which we were so proud, the iconic library, Culfest and the many friends that I made and treasure till date. The steel trunk which carried my belongings to IIT and which my loving wife has preserved till date is still with me. I still have my Wilson tennis racket, with which I religiously played every evening at the clay courts on campus. IITK has a special place in my heart. This convocation ceremony is even more special as I did not attend our convocation ceremony; in fact, we did not have a proper convocation ceremony, perhaps the only batch not to have it. So, it’s an honour to be back here after thirty-six long years in a new and privileged role and be a part of the convocation ceremony today. Thank you, IIT, for this honour.

    Times have changed a lot since I graduated. But there are certainly lessons which endure time. As a fellow-alumnus, roll number 85213, who has experienced life after campus, I will speak about four learnings from my journey.

    Learning for Life

    Many of you would have got your dream jobs. Others, who plan to pursue further studies, would get them soon. With a degree from a prestigious institute and a good job in hand, please don’t think that you have arrived. The moment you think you have arrived, you will stagnate. The moment you believe you know everything, you will stop growing.

    This is just the beginning, only the first step. The degree has only laid a solid foundation and will take you thus far. You will need to build from here. You will need to learn when you change sectors, move across organisations within a sector, take up different roles within an organization and even within the same role in an organisation. Technology is advancing at a lightning speed. What you learnt yesterday would be outdated tomorrow as new ideas and tools emerge daily.

    I can assure you that the institute has prepared you well for your life ahead. It has not only imparted you with knowledge which will be of immense use but, more importantly, equipped you with the most important tool – the tool of self-learning.

    Like other IAS officers, I worked in diverse fields like urban management, land resources, industries, power, health, taxation, banking, finance, etc. Many of them were general management but many were highly technical and specialized, which had a steep learning curve. The IITK emphasis on basic sciences and core engineering subjects, its importance to the fundamentals of a subject, its priority to deriving the formulae rather than merely memorizing and applying them, its attention to problem-solving from first principles, and various other methods of problem solving have held me in good stead. IIT gave me the necessary tools for self-learning. I am sure it has given you too the same tools.

    So, continue your quest for knowledge. Remember that learning is for life. The moment one is not learning, it is a signal that one is not growing; one is not advancing. It is knowledge which will keep you ahead of others. Its importance cannot be over-emphasized. I urge you all, as Stephen Covey said, to continuously sharpen your saw and cut the grass under your feet.

    Question the status quo

    My second learning pertains to the period between 2003 and 2006, when I was working in the United Nations. I was managing a project to improve productivity in the hand tools clusters in India. We hired a Total Quality Management expert for some of our interventions. He had long and diverse experience across organisations.

    He challenged the forging units there to reduce the time taken in changing a die from about eight hours to less than an hour. All of them including the most advanced, productive and efficient forging units vehemently denied the possibility of reducing the time. When he failed after many days of trying to convince them to improve, he suggested some changes including installation of a video camera. This was tried in a unit. These small changes reduced the time to five hours. When asked, the supervisor, apart from other things, explained that the work started on time, as scheduled; no one was late; no one took an unscheduled tea break; all required equipment were pre-arranged and kept ready for use; there was no wastage of time. The small changes and videography did the trick as everyone was being watched. What followed was a series of improvements or what are called kaizens, not only in the exchange of dies, but also various other processes – forging, grinding, electroplating, packaging, etc, as every process was questioned. We ended up reducing costs by about 10%.

    I learnt to question the status quo. I learnt that there is always scope for improvement. This helped me improve efficiency in various organisations and departments that I worked in. It helped in reducing processing time of files. I reduced turnaround times for applications. It helped me make changes in laws, rules and procedures for the benefit of citizens and government alike, as I questioned the status quo.

    As Albert Einstein famously said, “The important thing is not to stop questioning.” When you question the status quo and ask questions, you open the door to new ideas and fresh perspectives. It is fuel for innovation; it drives you to explore, experiment, and create something better. So, no matter where you are in life or your career, never stop questioning the status quo and improving.

    Pursue virtuous Karma

    The third learning pertains to my tenure as Secretary, Department of Personnel in the Government of Rajasthan in 2007-08. Promotions from the state civil service to the IAS were plagued with disputes and court cases. For almost about 20 years, no one was promoted to the IAS. My predecessors did not take up this issue as they thought it would be an exercise in futility as some aggrieved officer will approach the doors of the judiciary. When I was given responsibility for this department, I took up the gauntlet. I studied all the disputes and judicial pronouncements meticulously; decided on claims of seniority and promotion, without fear or favour; finalized and published the seniority lists; and after spending months on this mammoth exercise, sent the proposals to UPSC for promotion. Just when we were about to convene the meeting for promotion, one officer again approached the court and got a stay. Months of my hard work was brought to nought. Even though many officers commended me for the hard work and getting the matter so close to finalization, I was disappointed.

    I had to leave for Princeton for my masters within a few days and could not pursue the case in the courts. After I returned, I was put in a different department. In a few years, the court lifted the stay. I was asked if I would be interested in giving finishing touches to the work I had initiated. Once bitten, twice shy, I did not take up the challenge this time. The work was completed by another officer. In recognition of his efforts, he was conferred with the state award for civil service.

    I realized I did not follow my karma as I feared failure. I realized I needed to follow my karma boldly and decisively without bothering about the results.

    Without going in to details of my journey thereafter, today, as I look back, I can confidently say that it is karma that largely determines outcomes and results. It is the path that one chooses that broadly determines the destination. Today, I appreciate how true Steve Jobs was when he said, “You can’t connect the dots looking forward; you can only connect them looking backward.” Right now, you may not fully grasp how your karma – each late-night lab session, each frustrating bug, and each decision that you take – will impact your journey. You may not appreciate, how delayed gratification, the hallmark of all great leaders, will deliver bigger success over the longer term for the instant rewards foregone. But trust me, over time, the dots will connect and it will be in large measure due to your karma.

    Trust

    My last learning is from the student days in IIT, when we were always short of money and under debt. Food at the mess was as good as it can be. We relied heavily on the hostel canteen. A samosa at that time costed 35 paise and a bottle of Thums Up 2 rupees and 25 paise. The canteen was managed by a person called Lala. Lala was loved by everyone. He would serve us till late in night and very generously gave us credit. Even outside hostel, we got credit from the juice vendor, the shops in Shopping Centre, etc. This may not be surprising. Lala knew us, recognizing us as hostelers. Other vendors too recognized us as students from the campus. What was surprising though was that we got credit even from some shopkeepers in Kanpur, who did not know us at all. Why did these shopkeepers give credit to us? It is because of their trust in the IIT students.

    It is because people do business with people they trust. Trust is the foundation on which any relationship is built, whether it is marriage, friendship, or at workplace – between the CEO and the employees, or between a company and its consumers.

    It is trust in a person that makes him a leader; it is trust which makes people follow a leader. Integrity and ethics are paramount to develop trust. It is not easy to gain trust. To earn trust, a leader must have the courage to take difficult decisions. He must act in the interest of the employees and other stakeholders. He must be willing to accept responsibility. He must lead by example. He must possess the humility to learn from his mistakes. He must be just, transparent and respectful. Trust takes time to build. But it is easy to lose trust. To be a successful person, a successful leader, graduating students, try to gain trust and having gained it, preserve trust.

    Your time to shine

    To conclude, dear graduating students, as you leave this campus today, have confidence in yourself. Dream big, but more importantly, act on those dreams. Make IIT Kanpur proud. Make your parents proud. Make India proud. But most importantly, make yourselves proud – proud by living lives of character, ethics and humility; lives filled with purpose, service and impact. As you step into tomorrow, carry with you the spirit of this institution, carry with you the love of your families, and carry with you the dreams of a billion Indians who believe in your potential.

    Your journey of transformation began here at IIT Kanpur. Now, transform the world as leaders who are trustworthy; who continue learning for life; who question the status quo and who pursue virtuous karma.

    May God bless you with all the very best in your journey ahead.

    Thank you.

    Jai Hind.

    MIL OSI Economics

  • MIL-OSI Economics: Christopher J Waller: Welcoming remarks – IJCB Research Conference

    Source: Bank for International Settlements

    Thank you, Aleš, and thank you to the Czech National Bank (CNB) for hosting this year’s conference. The CNB also supported this conference in 2017. It is wonderful to have such a great relationship between the International Journal of Central Banking (IJCB) and one of our sponsoring institutions.

    I would like to take a few minutes as the outgoing managing editor of the IJCB to emphasize the importance of this journal and the research it supports.1 Central banks play an important role promoting the growth and effective functioning of their economies, and many of the decisions they make are influenced by careful and cutting-edge research. In fact, I recently gave a speech that discussed the importance of economic research in monetary policy decisions.2 The IJCB, through this conference and its volumes, provides an outlet to share and disseminate research that adds to public knowledge and understanding and informs the operational and policy decisions of central bankers.

    The value of central bank–focused research has long been known. In the summer of 2004, the Bank for International Settlements (BIS), the European Central Bank, and the Group of Ten central banks agreed to support the development of the IJCB to focus on the theory and practice of central banking. The journal has attracted distinguished managing editors, including my colleagues from the Federal Reserve; my immediate predecessor, Luc Laeven, from the European Central Bank; and the current managing editor, Antoine Martin, from the Swiss National Bank, who, unfortunately, could not be here today. We have the strong support now of nearly 55 sponsoring institutions, including the Czech National Bank and also the host of last year’s conference, the Central Bank of Italy. Among the ways that central banks serve the public interest is as an ongoing source of economic research, and the strong commitment to the IJCB here in Prague and other capitals advances our collective interest in strong economies and financial stability.

    Turning to this year’s conference, we chose the theme based on events that have been very much on the minds of central bankers: “Assessing the Effectiveness of Monetary Policy during and after the COVID-19 Pandemic.” The past several years have seen significant monetary policy actions across the globe in response to COVID-19–induced recessions, inflation higher than in several decades, unprecedented supply chain disruptions, and, in some countries, very tight labor markets. Early on, policymakers’ responses appeared quite in sync, but with differing speeds of recovery and varying challenges faced by different types of economies, that changed over time. Additionally, geopolitical tensions and energy price shocks have introduced new complexities. So we thought this conference could be a good place to come together and hear about the lessons we have learned from these common and different experiences.

    Today and tomorrow we will be discussing the yield curve, policy rules, and monetary policy transmission. We also will look into banking issues such as loan issuance and financial stability. And we are lucky to have the Fed’s Vice Chair for Supervision Miki Bowman here to give a keynote speech. As we go through these sessions, I hope we will all ask ourselves how this work can help policymakers do their jobs better. Through our conversation, I would ask you to share knowledge about each of these topics as they are pertinent around the world.

    But before we get to those presentations, and what I hope will be vigorous discussion, let me recognize several people who made this event possible. Here at the CNB, Simona Malovaná and Martin Hodula helped organize this conference. Year round, the IJCB co-editors devote many hours of their time to review papers to keep the journal at its high-quality and high-impact status. These individuals are Ana Babus, Diana Bonfim, Huberto Ennis, Carlos Garriga (who is here with us today), Refet Gürkaynak, Òscar Jordà, Robin Lumsdaine, Fernanda Nechio, Steven Ongena, and Enrico Sete. Finally, for the past three years, the day-to-day smooth running of the journal couldn’t have been accomplished without the editorial team at the BIS and the Board of Governors. A special thank you goes to my team: Kommaly Dias, Jane Ihrig, and Elie Singer, who worked to oversee the process.

    And with that, I will step away from the microphone and put the spotlight where it should be, on the scholars presenting their work today. Thank you, and I believe Martin has a few words to get us started.


    MIL OSI Economics

  • MIL-OSI Economics: Christopher J Waller: Welcoming remarks – IJCB Research Conference

    Source: Bank for International Settlements

    Thank you, Aleš, and thank you to the Czech National Bank (CNB) for hosting this year’s conference. The CNB also supported this conference in 2017. It is wonderful to have such a great relationship between the International Journal of Central Banking (IJCB) and one of our sponsoring institutions.

    I would like to take a few minutes as the outgoing managing editor of the IJCB to emphasize the importance of this journal and the research it supports.1 Central banks play an important role promoting the growth and effective functioning of their economies, and many of the decisions they make are influenced by careful and cutting-edge research. In fact, I recently gave a speech that discussed the importance of economic research in monetary policy decisions.2 The IJCB, through this conference and its volumes, provides an outlet to share and disseminate research that adds to public knowledge and understanding and informs the operational and policy decisions of central bankers.

    The value of central bank–focused research has long been known. In the summer of 2004, the Bank for International Settlements (BIS), the European Central Bank, and the Group of Ten central banks agreed to support the development of the IJCB to focus on the theory and practice of central banking. The journal has attracted distinguished managing editors, including my colleagues from the Federal Reserve; my immediate predecessor, Luc Laeven, from the European Central Bank; and the current managing editor, Antoine Martin, from the Swiss National Bank, who, unfortunately, could not be here today. We have the strong support now of nearly 55 sponsoring institutions, including the Czech National Bank and also the host of last year’s conference, the Central Bank of Italy. Among the ways that central banks serve the public interest is as an ongoing source of economic research, and the strong commitment to the IJCB here in Prague and other capitals advances our collective interest in strong economies and financial stability.

    Turning to this year’s conference, we chose the theme based on events that have been very much on the minds of central bankers: “Assessing the Effectiveness of Monetary Policy during and after the COVID-19 Pandemic.” The past several years have seen significant monetary policy actions across the globe in response to COVID-19–induced recessions, inflation higher than in several decades, unprecedented supply chain disruptions, and, in some countries, very tight labor markets. Early on, policymakers’ responses appeared quite in sync, but with differing speeds of recovery and varying challenges faced by different types of economies, that changed over time. Additionally, geopolitical tensions and energy price shocks have introduced new complexities. So we thought this conference could be a good place to come together and hear about the lessons we have learned from these common and different experiences.

    Today and tomorrow we will be discussing the yield curve, policy rules, and monetary policy transmission. We also will look into banking issues such as loan issuance and financial stability. And we are lucky to have the Fed’s Vice Chair for Supervision Miki Bowman here to give a keynote speech. As we go through these sessions, I hope we will all ask ourselves how this work can help policymakers do their jobs better. Through our conversation, I would ask you to share knowledge about each of these topics as they are pertinent around the world.

    But before we get to those presentations, and what I hope will be vigorous discussion, let me recognize several people who made this event possible. Here at the CNB, Simona Malovaná and Martin Hodula helped organize this conference. Year round, the IJCB co-editors devote many hours of their time to review papers to keep the journal at its high-quality and high-impact status. These individuals are Ana Babus, Diana Bonfim, Huberto Ennis, Carlos Garriga (who is here with us today), Refet Gürkaynak, Òscar Jordà, Robin Lumsdaine, Fernanda Nechio, Steven Ongena, and Enrico Sete. Finally, for the past three years, the day-to-day smooth running of the journal couldn’t have been accomplished without the editorial team at the BIS and the Board of Governors. A special thank you goes to my team: Kommaly Dias, Jane Ihrig, and Elie Singer, who worked to oversee the process.

    And with that, I will step away from the microphone and put the spotlight where it should be, on the scholars presenting their work today. Thank you, and I believe Martin has a few words to get us started.


    MIL OSI Economics

  • MIL-OSI Economics: Gabriel Makhlouf: Remarks – 100th anniversary of George Bernard Shaw winning the Nobel Prize for Literature

    Source: Bank for International Settlements

    Good morning everyone. Thank you to the Museum of Literature Ireland for hosting this event. Let me also extend a warm welcome to the Right Honourable the Lord Mayor of Dublin, Councillor Emma Blain and to all our distinguished guests.

    We are here today to the launch our coin to commemorate the 100th anniversary of George Bernard Shaw winning the Nobel Prize for Literature. We issue commemorative coins on behalf of the Minister for Finance. Their aim is to recognise figures, or events, of national importance and we are here today to celebrate one of Ireland’s greatest literary geniuses, George Bernard Shaw. Shaw is one of Ireland’s four Nobel Literature winners and, in fact, until 2016, was the only person to have won both a Nobel Prize for Literature and an Academy Award (in 1939). Bob Dylan joined him in that club in 2016. 

    This coin is a tangible tribute to one of the brilliant minds of the 20th century. He was awarded the Nobel Prize in 1925 “for his work which is marked by both idealism and humanity, its stimulating satire often being infused with a singular poetic beauty”. Fintan O’Toole described him as the “most globally influential Irish person in history”, noting praise from Jawaharlal Nehru, Albert Einstein and Winston Churchill.  

    Shaw was more than a literary figure. Thomas Mann, a fellow Nobel Laureate four years after Shaw, wrote in his obituary tribute that “when we add the floodtide of essays, commentary, and amplifying criticism, embodying an all-embracing encyclopedic knowledge that draws equally on the natural sciences, theology, religious and general history, and especially on the social-economic sphere, always artistically leavened, full of esthetic charm, and unfailingly entertaining – when we add all this, we find ourselves face to face with a lifework of astonishing scope, apparently the fruit of continued inspiration, unceasing merriness, and of an indefatigable will to work.” 

    Shaw was also an orator who “with his lyrical Irish accent [-] could turn the classical rhetorical tradition into something apparently intimate and conversatonal, without losing its rhythms and vigour” (O’Toole). He was a man of formidable intellect and sharp wit and his works continue to resonate with audiences and scholars around the globe. As Mann also wrote, Shaw “tirelessly wielded the shining sword of his word and wit” against stupidity and “did his best in redressing the fateful imbalance between truth and reality, in lifting mankind to a higher rung of maturity.” As O’Toole says, “the most important aspect of his influence is not what Shaw taught people to think but how he taught them to think.”

    In an era of alternative truths and disinformation bubbles, perhaps his work has become more relevant than ever. 

    Conclusion

    Before I conclude, I’d like to thank some of the people who’ve helped to organise this event. Specifically, I want to pay tribute to the Central Bank’s Currency Centre team for the immense work they do each year on the collector coin series and I’d like to acknowledge the ongoing work of the Numismatic Advisory Panel who support the Bank’s programme.

    George Bernard Shaw left a significant legacy of theatrical, fictional, polemical, critical and philosophical writing. He wrote that “an Irishman’s heart is nothing but his imagination” and his appreciation and understanding of Ireland had a profound influence on his career. We take great pride in the issuing of commemorative coins and we are delighted in issuing this coin today. Shaw would probably have found the notion of his face on a coin rather strange – and he would have complained that we were commemorating him at all, as he did when awarded the Nobel Prize – but I hope he would also appreciate the enduring recognition it represents. 

    MIL OSI Economics

  • MIL-OSI Economics: Gabriel Makhlouf: Remarks – 100th anniversary of George Bernard Shaw winning the Nobel Prize for Literature

    Source: Bank for International Settlements

    Good morning everyone. Thank you to the Museum of Literature Ireland for hosting this event. Let me also extend a warm welcome to the Right Honourable the Lord Mayor of Dublin, Councillor Emma Blain and to all our distinguished guests.

    We are here today to the launch our coin to commemorate the 100th anniversary of George Bernard Shaw winning the Nobel Prize for Literature. We issue commemorative coins on behalf of the Minister for Finance. Their aim is to recognise figures, or events, of national importance and we are here today to celebrate one of Ireland’s greatest literary geniuses, George Bernard Shaw. Shaw is one of Ireland’s four Nobel Literature winners and, in fact, until 2016, was the only person to have won both a Nobel Prize for Literature and an Academy Award (in 1939). Bob Dylan joined him in that club in 2016. 

    This coin is a tangible tribute to one of the brilliant minds of the 20th century. He was awarded the Nobel Prize in 1925 “for his work which is marked by both idealism and humanity, its stimulating satire often being infused with a singular poetic beauty”. Fintan O’Toole described him as the “most globally influential Irish person in history”, noting praise from Jawaharlal Nehru, Albert Einstein and Winston Churchill.  

    Shaw was more than a literary figure. Thomas Mann, a fellow Nobel Laureate four years after Shaw, wrote in his obituary tribute that “when we add the floodtide of essays, commentary, and amplifying criticism, embodying an all-embracing encyclopedic knowledge that draws equally on the natural sciences, theology, religious and general history, and especially on the social-economic sphere, always artistically leavened, full of esthetic charm, and unfailingly entertaining – when we add all this, we find ourselves face to face with a lifework of astonishing scope, apparently the fruit of continued inspiration, unceasing merriness, and of an indefatigable will to work.” 

    Shaw was also an orator who “with his lyrical Irish accent [-] could turn the classical rhetorical tradition into something apparently intimate and conversatonal, without losing its rhythms and vigour” (O’Toole). He was a man of formidable intellect and sharp wit and his works continue to resonate with audiences and scholars around the globe. As Mann also wrote, Shaw “tirelessly wielded the shining sword of his word and wit” against stupidity and “did his best in redressing the fateful imbalance between truth and reality, in lifting mankind to a higher rung of maturity.” As O’Toole says, “the most important aspect of his influence is not what Shaw taught people to think but how he taught them to think.”

    In an era of alternative truths and disinformation bubbles, perhaps his work has become more relevant than ever. 

    Conclusion

    Before I conclude, I’d like to thank some of the people who’ve helped to organise this event. Specifically, I want to pay tribute to the Central Bank’s Currency Centre team for the immense work they do each year on the collector coin series and I’d like to acknowledge the ongoing work of the Numismatic Advisory Panel who support the Bank’s programme.

    George Bernard Shaw left a significant legacy of theatrical, fictional, polemical, critical and philosophical writing. He wrote that “an Irishman’s heart is nothing but his imagination” and his appreciation and understanding of Ireland had a profound influence on his career. We take great pride in the issuing of commemorative coins and we are delighted in issuing this coin today. Shaw would probably have found the notion of his face on a coin rather strange – and he would have complained that we were commemorating him at all, as he did when awarded the Nobel Prize – but I hope he would also appreciate the enduring recognition it represents. 

    MIL OSI Economics

  • MIL-OSI Video: UK 🔴 PMQs LIVE: Prime Minister’s Questions – 2 July 2025

    Source: United Kingdom UK Parliament (video statements)

    Watch PMQs with British Sign Language (BSL) – https://youtube.com/live/B7qKlsjXNm8

    Prime Minister’s Question Time, also referred to as PMQs, takes place every Wednesday the House of Commons sits. It gives MPs the chance to put questions to the Prime Minister, Sir Keir Starmer MP, or a nominated minister.

    In most cases, the session starts with a routine ‘open question’ from an MP about the Prime Minister’s engagements. MPs can then ask supplementary questions on any subject, often one of current political significance.

    The Leader of the Opposition, Kemi Badenoch MP, asks six questions and the leader of the second largest opposition party asks two. If another minister takes the place of the Prime Minister, opposition parties will usually nominate a shadow minister to ask the questions.

    Want to find out more about what’s happening in the House of Commons this week? Follow the House of Commons on:

    Twitter: https://www.twitter.com/HouseofCommons
    Facebook: https://www.facebook.com/ukhouseofcommons
    Instagram: https://www.instagram.com/ukhouseofcommons

    https://www.youtube.com/watch?v=YCEpY7bGp9s

    MIL OSI Video

  • MIL-OSI Video: UK 🔴 LIVE: Prime Minister’s Questions with British Sign Language (BSL) – 2 July 2025

    Source: United Kingdom UK Parliament (video statements)

    Prime Minister’s Question Time, also referred to as PMQs, takes place every Wednesday the House of Commons sits. It gives MPs the chance to put questions to the Prime Minister, Sir Keir Starmer MP, or a nominated minister.

    In most cases, the session starts with a routine ‘open question’ from an MP about the Prime Minister’s engagements. MPs can then ask supplementary questions on any subject, often one of current political significance.

    The Leader of the Opposition, Kemi Badenoch MP, asks six questions and the leader of the second largest opposition party asks two. If another minister takes the place of the Prime Minister, opposition parties will usually nominate a shadow minister to ask the questions.

    Want to find out more about what’s happening in the House of Commons this week? Follow the House of Commons on:

    Twitter: https://www.twitter.com/HouseofCommons
    Facebook: https://www.facebook.com/ukhouseofcommons
    Instagram: https://www.instagram.com/ukhouseofcommons

    https://www.youtube.com/watch?v=B7qKlsjXNm8

    MIL OSI Video

  • US bombing ‘seriously damaged’ Iran’s Fordow nuclear site: Foreign Minister Abbas Araqchi

    Source: Government of India

    Source: Government of India (4)

    The U.S. bombing of Iran’s key Fordow nuclear site has “seriously and heavily damaged” the facility, Iranian Foreign Minister Abbas Araqchi said in an interview with CBS News.

    “No one exactly knows what has transpired in Fordow. That being said, what we know so far is that the facilities have been seriously and heavily damaged,” Araqchi said in the interview broadcast on Tuesday.

    “The Atomic Energy Organization of the Islamic Republic of Iran… is currently undertaking evaluation and assessment, the report of which will be submitted to the government.”

    Intercepted Iranian communications downplayed the extent of damage caused by U.S. strikes on Iran’s nuclear program, the Washington Post reported on Sunday, citing four people familiar with classified intelligence circulating within the U.S. government.

    President Donald Trump has said the strikes “completely and totally obliterated” Iran’s nuclear program, but U.S. officials acknowledge it will take time to form a complete assessment of the damage caused by the U.S. military strikes last weekend.

    (Reuters)

     

  • No fear or worry, say pilgrims as they embark on Amarnath yatra

    Source: Government of India

    Source: Government of India (4)

    Jammu and Kashmir Lt Governor Manoj Sinha announced on Wednesday that over 4,000 devotees have begun their journey from Jammu for the Amarnath Yatra. He flagged off the first group of pilgrims from Jammu.

    ““More than four thousand devotees of Lord Bhole Nath have set out today in the first batch for Baba Barfani’s darshan,” said L-G Sinha.

    With chants of “Bam Bam Bhole” ringing through the air, the spiritual journey to the sacred Amarnath cave has officially begun.

    Pilgrims gathered in large numbers at the base camp, filled with emotion and enthusiasm.

    “Everything feels great, and I am very happy to be going with the first batch. There is no fear or worry because we have our Army and our leaders with us,” said one devotee.

    Another added, “There is great excitement among the first batch of pilgrims, and I want to tell all devotees to come at least once for darshan of Baba Amarnath.”

    The annual pilgrimage, a major spiritual event in the Hindu calendar, will see lakhs of devotees trek to the high-altitude cave shrine in the Himalayas over the coming weeks. This year’s yatra began with heightened preparations by the administration, ensuring a safe and seamless journey for all participants.

    L-G Sinha commended the efforts of the Shri Amarnath Shrine Board, the administration, and the security forces. “The Jammu and Kashmir administration, local residents, and the Shrine Board have made excellent arrangements for the Yatra. Jammu and Kashmir Police and security forces have ensured strict security measures,” he said.

    Along the Jammu-Srinagar National Highway, particularly near Ramban, security has been ramped up. The area has seen the deployment of additional forces, surveillance systems, and checkpoints. Only verified vehicles are being allowed to pass through key points to ensure the safety of pilgrims.

    Meanwhile, facilities including medical aid, sanitation, food distribution, and emergency response systems have been arranged along the route. The Shri Amarnath Shrine Board has worked closely with multiple agencies to monitor crowd flow and weather patterns, ensuring the safety and comfort of pilgrims throughout the yatra.

    (IANS)

  • Australia’s fit-again Steve Smith set to play second test vs West Indies

    Source: Government of India

    Source: Government of India (4)

    Australia are set to be reinforced by Steve Smith’s return to their top order but may miss his reassuring presence in the slip cordon in the second test against West Indies in Grenada this week.

    Smith missed Australia’s victory in the series opener in Bridgetown with a dislocated finger in his right hand, an injury suffered during the World Test Championship final against South Africa last month.

    The 36-year-old has reunited with the squad at the National Cricket Stadium and is likely to replace Josh Inglis, who managed five and 12 batting at number four in Bridgetown, in the second test beginning on Thursday.

    “Anytime you add 10,000 runs back into the line-up, you’re going to be pretty happy with it,” Australia wicketkeeper Alex Carey said of Smith’s impending return after their training on Tuesday.

    “He seems pretty confident, so he’s excited to get back in.

    “It’s been tough at the top of the order, so to add a little bit more experience is good for the group, but I think they’ve (been) doing a pretty good job as well.”

    Australia were all out for 180 in the first innings in the opening test and were 65-4 in the second before fifties by Travis Head, Beau Webster and Carey propped them up.

    Smith did some catching practice but ESPNcricinfo reported he would not take his usual position in the slip cordon.

    West Indies have a bigger headache with their slip cordon having spilled seven catches in the opening match to let Australia off the hook.

    “I think the biggest thing is we shot ourselves in the foot,” West Indies head coach Daren Sammy said.

    “You cannot drop seven catches against the world’s number one team and expect to compete.”

    (Reuters)

  • MIL-OSI Russia: Polytechnic University teachers completed internships at enterprises in the real sector of the economy

    Translation. Region: Russian Federal

    Source: Peter the Great St Petersburg Polytechnic University – Peter the Great St Petersburg Polytechnic University –

    Employees of the Institute of Industrial Management, Economics and Trade completed an internship at the production sites of the Obukhov Plant. They studied the application of lean manufacturing principles in the context of the military-industrial complex. The teachers also completed an internship at the Gazprom Corporate Institute, aimed at teaching digital transformation and corporate management.

    In order to improve their qualifications and study the best practices of enterprises in the real sector of the economy, 12 teachers of the Higher School of Industrial Management completed a specialized internship at the production sites of the scientific and production association “North-West Regional Center of the Almaz-Antey Air Defense Concern – Obukhov Plant”. The emphasis was on the development of a lean manufacturing management system (Lean) at enterprises of the military-industrial complex (MIC).

    The internship included a detailed introduction to real production processes in the key workshops of the enterprise: thermal and mechanical processing, galvanic and foundry, as well as other technological areas. The teachers immersed themselves in the specifics of applying lean manufacturing principles in the conditions of a high-tech defense enterprise.

    The program covered several relevant areas:

    lean manufacturing in logistics: optimization of internal material flows, organization of warehouse management and supply systems; labor standards and production organization: methods of analysis and optimization of work operations, increasing labor productivity based on the Lean approach; information technology in lean manufacturing: use of digital tools for visualization of flows, data analysis and process management.

    The internship participants not only observed the work of the workshops, but also actively discussed with plant representatives specific cases and successful solutions in the field of implementation and development of the Lean system in the specific environment of the defense industry.

    We learned how lean manufacturing principles are adapted and work in the highly responsible sphere of the military-industrial complex. Of particular interest were practical solutions in the field of Lean logistics and the use of IT for managing production flows. This experience is invaluable for further work on training personnel and developing educational programs that are as close as possible to the real needs of leading industrial enterprises, including the defense sector, – shared the head of the cluster of educational programs “Industry Management”, associate professor of the Higher School of Management Management Irina Bagaeva.

    The internship was another step in strengthening the interaction between the Polytechnic University and the Obukhov Plant as an industrial partner. We see a real mutual enrichment of ideas and experience between our organizations. This is beneficial both in the educational activities of the university and in the production processes of the industrial enterprise, – said the head of the scientific and production association “North-West Regional Center of the Air Defense Concern “Almaz-Antey” – Obukhov Plant” Sergey Baushev.

    In addition, the teachers of the Higher School of Management and Management completed an internship at the Gazprom Corporate Institute in the educational complex located in the innovative business space “Lakhta Center”. They studied one of the most relevant vectors of development of education and the economy – corporate training in the context of digital transformation and the introduction of information technology.

    The event was organized and curated by specialists from the educational projects department of the Corporate Institute, headed by Deputy Director for Academic Affairs Vladislav Plotnikov. The program included a presentation of corporate approaches to training, a round table, and a question and answer session with representatives of the institute’s top management. The participants included teachers and specialists from the Higher School of Management and Management, involved in the development and implementation of educational programs related to the digital economy and the transformation of production management.

    Internships of teachers at the Obukhov Plant and the Gazprom Corporate Institute are an important element of our institute’s interaction with the real sector of the economy. The systematic practice of internships allows teachers to form new professional competencies, master practical skills and knowledge of modern technologies and methods of work in production, and update educational programs to meet employers’ requests, commented Vladimir Shchepinin, Director of the IPMEiT.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    MIL OSI Russia News

  • MIL-OSI Russia: Training sessions for game sports are held at the Summer in Moscow venues

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Table tennis and badminton will help you spend time outdoors in an interesting and useful way. Training in these game sports takes place on the project’s sites “Summer in Moscow”.

    Develop coordination and concentration

    Table tennis classes help improve the health of the entire body. They improve the functioning of the cardiovascular and respiratory systems, strengthen various muscle groups, and also develop coordination and concentration. Training has a positive effect on the brain, since a tennis player must not only constantly focus on the game, but also think through the next action in advance.

    Those who are interested in more active sports should take up badminton. It is suitable for those who want to lose weight and at the same time gain muscle mass, and will also help replace cardio training. Like table tennis, badminton improves coordination, reaction speed and agility.

    Both sports help reduce stress levels and improve mood.

    Where can I train?

    Everyone is invited to free table tennis training as part of the project’s summer season “My Sports District”. They take place on Tuesdays, Thursdays and Sundays from 20:15 and on Saturdays from 11:15. Both children from 10 years old and adults over 18 years old can take part.

    You can join the classes at 10 locations:

    — Avangard stadium (Entuziastov Highway, Building 33);

    — Krylatskie Kholmy street, building 35, building 1a;

    — Zelenograd, building 1123;

    — Koptevsky Boulevard, building 21;

    — Sviblovo Park (Sviblovo Stadium in Tenisty Proezd (building 6/8));

    — Torfyanka Park (Izumrudnaya Street, Building 34);

    — Oak Grove “Mayak” Park (Touristskaya Street, Building 2, Block 5);

    — Yu. M. Luzhkov Park (Kolomensky Proezd, Building 16);

    — Kuzminki-Lyublino Park (Kuzminsky Park, Building 1, Building 8);

    — Perekopskaya street, house 34, building 2.

    Badminton classes are held at eight My Sports District courts on Tuesdays, Thursdays and Sundays from 20:15 and on Saturdays from 11:15. Children aged 10 and over and adults aged 18 and over are invited to the training. Court addresses:

    — Kuskovskaya street, building 31, building 1;

    — Vasilisa Kozhina street, building 14, building 6;

    — Beskudnikovsky Boulevard, building 25, building 4;

    — Marshal Tukhachevsky Street, building 21, building 2;

    — Semenovskaya embankment, building 3/1, building 4;

    — Rossoshanskaya street, building 9, building 1a;

    — Rozhdestvenskaya street, building 19, building 2;

    — 2nd Yuzhnoportovy proezd, building 13;

    — landscape park “Yuzhnoye Butovo” (Yuzhnobutovskaya street, house 96).

    All classes are led by experienced instructors. To participate, you must register atproject websiteYou need to bring equipment with you – table tennis or badminton rackets.

    You can also play table tennis or badminton as part of the festival of urban sports. From Tuesday to Friday (from 12:00 to 20:00), as well as on weekends (from 11:00 to 21:00), everyone is welcome at eight sites: in the parks “Pechatniki”, “Fili”, “Sosenki”, 850th Anniversary of Moscow, Northern River Terminal, in the recreation area “Troparevo”, as well as in the public space on Akademika Yangelya Street and at the Bolshoi Gorodskoy Pond and in the 40th Anniversary of Victory Park in Zelenograd. There, equipment can be rented for free.

    Detailed information about the urban sports festival can be found atwebsite.

    Project “Summer in Moscow”— the main event of the season. It brings together the most vibrant events of the capital. Every day, charity, cultural and sports events are held in all districts of the city, most of which are free. The Summer in Moscow project is being held for the second time, and this season will be more eventful: new, original and colorful events will be added to traditional festivals and events.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

    Please note: This information is raw content directly from the source of the information. It is exactly what the source states and does not reflect the position of MIL-OSI or its clients.

    Please Note; This Information is Raw Content Directly from the Information Source. It is access to What the Source Is Stating and Does Not Reflect

    https: //vv.mos.ru/nevs/ite/156145073/

    MIL OSI Russia News

  • MIL-OSI Russia: How Muscovites are helping transform the capital’s parks with the help of the City of Ideas platform

    Translation. Region: Russian Federal

    Source: Moscow Government – Government of Moscow –

    Since the introduction of the Parks sphere on the platform in 2022, “City of Ideas” More than 280 proposals from Muscovites were implemented, which were aimed at developing the capital’s green areas. Thus, new bike paths, dog walking areas, play areas and summer open-air cinemas were built in the parks.

    New opportunities for recreation and sports

    Over three years, work on the proposals of city residents was carried out in many areas of Moscow. For example, additional lighting was installed in the Mitino landscape park, which made walks at night more comfortable. In the Shmelevsky Ruchey park, between the Zyablikovo and Orekhovo-Borisovo Yuzhnoye districts, the bank of the forest reservoir was cleaned and strengthened. This gave the park a well-groomed appearance and increased its attractiveness to visitors.

    In Zelenograd, the area near Shkolnoye Lake was tidied up, where new sun loungers and benches were installed and the sand on the beach was replaced. Now you can comfortably relax by the water without leaving the city.

    Changes also affected the sports infrastructure. Thus, in the Lianozovo Park, a volleyball court was equipped and table tennis tables were installed, and in Golyanovsky Park this year a recreation area with swimming pools appeared as part of the Moscow Seasons project.

    Cultural events in the capital’s parks

    The platform can also offer an idea for holding cultural events in parks. One of the striking examples is Otradnoye Park, which has become a real center of public life in the district. Now fairs, concerts, master classes and other events initiated by city residents are regularly held here.

    For example, this spring the park hosted the “Russian Yard” festival, dedicated to Russian traditions. Visitors watched performances by folk groups, took part in folk games and amusements, and also tried tea from a wood-fired samovar and homemade bread baked according to old recipes.

    Last year, other Moscow parks also hosted interesting events. In June, the Mossovet District Public Center organized painting workshops for children in Semenovsky Park, where young artists painted pictures inspired by nature and learned how important it is to protect the environment. And in August, a youth basketball tournament was held on the sports ground of the Zodiac Signs Park, following which the winners were awarded commemorative district cups.

    Thanks to such initiatives by Muscovites, the capital’s parks are becoming not just a place for relaxation, but also a platform for entertainment, creativity and an active lifestyle.

    How to propose an initiative

    Any resident of the capital who has the right to propose an idea on the platform can account on the mos.ru portal. You can do this in the “Suggest an idea” section. To do this, you need to select an area “Parks” and one of three categories: “Park improvement”, “Recreation areas for adults and children” or “Events and services”. If the moderation process is successful, the ideas will be taken into work.

    You can visually evaluate the transformations in the section “Gallery of realized ideas”. It contains photos of the best works carried out on the initiative of city residents. Thanks to a recent update of the section, navigation has become easier: now you can quickly find photo or video evidence on any topic using a convenient search and filters. This allows you to see the results of the transformation of the city and get inspired for your own initiatives.

    “City of Ideas”: More than three thousand proposals from residents have been implemented since 2020

    Platform “City of Ideas” has been operating since 2014. More than 620 thousand users have joined it. They share suggestions on how to make life in the capital even more comfortable. More than 8.6 thousand suggestions have already been implemented. City residents participated in projects dedicated to electronic services, culture, entrepreneurship, healthcare, education, transport and other topics. The projects are developed by the State Institution “New Management Technologies” andDepartment of Information Technology of the City of Moscow.

    The creation, development and operation of the e-government infrastructure, including the provision of mass socially significant services, as well as other services in electronic form, correspond to the objectives of the national project “Data Economy” and the regional project of the city of Moscow “Digital Public Administration”.

    Get the latest news quicklyofficial telegram channel the city of Moscow.

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    https: //vv.mos.ru/nevs/ite/156149073/

    MIL OSI Russia News

  • MIL-OSI China: Announcement on Open Market Operations No.125 [2025]

    Source: Peoples Bank of China

    Announcement on Open Market Operations No.125 [2025]

    (Open Market Operations Office, July 2, 2025)

    The People’s Bank of China conducted reverse repo operations in the amount of RMB98.5 billion through quantity bidding at a fixed interest rate on July 2, 2025.

    Details of the Reverse Repo Operations

    Maturity

    Rate

    Bidding Volume

    Winning Bid Volume

    7 days

    1.40%

    RMB98.5 billion

    RMB98.5 billion

    Date of last update Nov. 29 2018

    2025年07月02日

    MIL OSI China News

  • MIL-OSI Asia-Pac: President Lai meets delegation from 2025 Taiwan International Ocean Forum

    Source: Republic of China Taiwan

    Details
    2025-06-30
    President Lai meets Minister of State at UK Department for Business and Trade Douglas Alexander  
    On the morning of June 30, President Lai Ching-te met with Douglas Alexander, Minister of State at the Department for Business and Trade of the United Kingdom. In remarks, President Lai thanked the UK government for its longstanding support for peace and stability across the Taiwan Strait. Noting that two years ago, Taiwan and the UK signed an enhanced trade partnership (ETP) arrangement, the president said that today Taiwan and the UK have signed three pillars under the ETP, which will help promote bilateral economic and trade cooperation. He expressed hope of the UK publicly supporting Taiwan’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) so that together we can create an economic and trade landscape in the Indo-Pacific characterized by shared prosperity and development. A translation of President Lai’s remarks follows: First, on behalf of the people of Taiwan, I extend a warm welcome to Minister Alexander and wish a fruitful outcome for the 27th round of Taiwan-UK trade talks later today. Taiwan-UK relations have grown closer in recent years. We have not only continued to strengthen cooperation in such fields as offshore wind power, innovative technologies, and culture and education but also have established regular dialogue mechanisms in the critical areas of economics and trade, energy, and agriculture. The UK is currently Taiwan’s fourth-largest European trading partner, second-largest source of investment from Europe, and third-largest target for investment in Europe. Two years ago, Taiwan and the UK signed an ETP arrangement. This was particularly meaningful, as it was the first institutionalized economic and trade framework between Taiwan and a European country. Today, this arrangement is yielding further results. I am delighted that Taiwan and the UK have signed three pillars under the ETP covering investment, digital trade, and energy and net-zero. This will help promote bilateral economic and trade cooperation and advance industrial development on both sides. I also want to thank the UK government for its longstanding support for peace and stability across the Taiwan Strait. This month, the UK published its Strategic Defence Review 2025 and National Security Strategy 2025, which oppose any unilateral attempts to change the status quo across the Taiwan Strait. These not only demonstrate that Taiwan and the UK share similar goals but also show that security and prosperity in the Indo-Pacific region are inseparable from those of the transatlantic regions. In addition, last November, the House of Commons passed a motion which made clear that United Nations General Assembly (UNGA) Resolution 2758 neither established the sovereignty of the People’s Republic of China over Taiwan nor determined Taiwan’s status in the United Nations. The UK government also responded to the motion by publicly expressing for the first time its position on UNGA Resolution 2758, opposing any attempt to broaden the interpretation of the resolution to rewrite history. For this, on behalf of the people of Taiwan, I once again want to extend my deepest gratitude. Taiwan and the UK have the advantage of being highly complementary in the technology sector. In facing the restructuring of global supply chains and other international economic and trade developments, I believe that Taiwan and the UK are indispensable key partners for one another. I look forward to the UK publicly supporting Taiwan’s accession to the CPTPP so that together, we can create an economic and trade landscape in the Indo-Pacific characterized by shared prosperity and development. In closing, I wish Minister Alexander a pleasant and successful visit. And I hope he has the opportunity to visit Taiwan for personal travel in the future. Minister Alexander then delivered remarks, saying that it is a great personal honor to meet with everyone today to discuss further deepening the UK-Taiwan trade relationship and explore the many opportunities our two sides can pursue together. He mentioned that he traveled to Taiwan in 2022 when he was a private citizen, a visit he thoroughly enjoyed, so he is delighted to be back to see the strength of the UK-Taiwan relationship and the strengthening of that relationship. He said that relationship is built on mutual respect, democratic values, and a shared vision for open, resilient, and rules-based economic cooperation. As like-minded partners, he pointed out, our collaboration continues to grow across multiple sectors, and he is here today to further that momentum. Minister Alexander stated that on trade and investment, he is proud that this morning we signed the ETP Pillars on Investment, Digital Trade, Energy and Net Zero, which will provide a clear framework for our future cooperation and lay the foundation for expanded access and market-shaping engagement between our two economies. The minister said he believes that together with our annual trade talks, this partnership will help UK’s firms secure new commercial opportunities, improve regulatory alignment, and promote long-term investment in key growth areas, which in turn will also support Taiwan’s efforts to expand high-quality trade relationships with trusted partners. Minister Alexander said that President Lai’s promotion of the Five Trusted Industry Sectors and the UK’s recently published industrial and trade strategies are very well-aligned, as both cover clean energy and semiconductors as well as advanced manufacturing. He then provided an example, saying that both sides plan to invest in AI infrastructure and compute power-creating opportunities for great joint research in the future. By combining our strengths in these areas, he said, we can open the door to innovative collaboration and commercial success for both sides. He mentioned that yesterday he visited the Taiwan Space Agency, commenting that in sectors such as satellite technology, green energy, and cyber security, British expertise and trusted standards can provide meaningful solutions. Noting that President Lai spoke in his remarks of the broader challenge of peace and security in the region, Minister Alexander stated that the United Kingdom has, of course, also continued to affirm its commitment to peace and stability in the Taiwan Strait, along with its G7 partners. The UK-Taiwan relationship is strategic, enduring, and growing, he stated, and they reaffirm and remain firm in their longstanding position and confident in their ability to work together to support both prosperity and resilience in both of our societies. Minister Alexander said that, as Taiwan looks to diversify capital and build global partnerships, they believe the UK represents a strong and ambitious investment destination, particularly for Taiwanese companies at the very forefront of robotics, clean tech, and advanced industry. He pointed out that the UK’s markets are stable, open, and aligned with Taiwan’s vision of a high-tech, sustainable future, adding that he looks forward to our discussion on how we can further deepen our cooperation across all of these areas and more. The delegation also included Martin Kent, His Majesty’s Trade Commissioner for Asia Pacific at the UK Department for Business and Trade. The delegation was accompanied to the Presidential Office by British Office Taipei Representative Ruth Bradley-Jones.   

    Details
    2025-06-27
    President Lai confers decoration on former Japan-Taiwan Exchange Association Chairman Ohashi Mitsuo
    On the morning of June 27, President Lai Ching-te conferred the Order of Brilliant Star with Grand Cordon upon former Chairman of the Japan-Taiwan Exchange Association Ohashi Mitsuo in recognition of his firm convictions and tireless efforts in promoting Taiwan-Japan exchanges. In remarks, President Lai stated that Chairman Ohashi cares for Taiwan like a family member, and expressed hope that Taiwan and Japan continue to deepen their partnership, bring about the early signing of an economic partnership agreement (EPA), and jointly build secure and stable non-red supply chains as we boost the resilience and competitiveness of our economies and jointly safeguard the values of freedom and democracy. A translation of President Lai’s remarks follows: Every meeting I have with Chairman Ohashi, with whom I have worked side by side for many years, is warm and friendly. I recall that when we met last year, Chairman Ohashi said that he often thinks about what Japan can do for Taiwan and what Taiwan can do for Japan, and that it is that mutual concern that makes us so close. This was a truly moving statement illustrating the relationship between Taiwan and Japan. Chairman Ohashi has also said numerous times that our bilateral relations may very well be the best in the entire world, and that in fact they may serve as a model to other countries. Indeed, Chairman Ohashi is himself an exemplary model for friendly relations between Taiwan and Japan. His spirit of always working tirelessly to promote Taiwan-Japan exchanges is truly admirable. Assuming the position of chairman of the Japan-Taiwan Exchange Association in 2011, he served during the terms of former Presidents Ma Ying-jeou and Tsai Ing-wen, continuously making positive contributions to Taiwan-Japan relations. Over these past 14 years, Taiwan and Japan have signed over 50 major agreements, spanning the economy and trade, fisheries, and taxes, among other areas. In 2017, the Taiwan-Japan Relations Association and the Japan-Taiwan Exchange Association underwent name changes, strengthening the essence and significance of Taiwan-Japan relations. These great achievements were all made possible thanks to the firm convictions and tireless efforts of Chairman Ohashi. On behalf of the people of Taiwan, I am delighted to confer upon Chairman Ohashi the Order of Brilliant Star with Grand Cordon to express our deepest thanks for his outstanding contributions. Chairman Ohashi is not just a good friend of Taiwan, but someone who cares for Taiwan like a family member. When a major earthquake struck in 2016, he personally went to Tainan to assess the situation and meet with the city government. This outpouring of friendship and support across borders was deeply moving. As we look to the future, I hope that Taiwan and Japan can continue to deepen our partnership. In addition to bringing about the early signing of an EPA, I also hope that we can expand collaboration in key areas such as semiconductors, energy, and AI, continue building secure and stable non-red supply chains, and boost the resilience and competitiveness of our economies as well as peace and stability in the Indo-Pacific. As Chairman Ohashi has said, the close bilateral relationship between Taiwan and Japan is one the world can be proud of. I would like to thank him once again for his contributions to deepening Taiwan-Japan ties. Taiwan will continue to forge ahead side by side with Japan, jointly safeguarding the values of freedom and democracy and mutually advancing prosperous development. I wish Chairman Ohashi good health, happiness, peace, and success in his future endeavors, and invite him to return to Taiwan often to visit old friends. Chairman Ohashi then delivered remarks, first thanking President Lai for his kind words. He stated that the Taiwan-Japan relationship is not only worthy of praise; it can also serve as a superb model in the world for bilateral relations that is worthy of study by other countries. He added that this is the result of the collective efforts of President Lai as well as many other individuals. Chairman Ohashi said that the current international situation is rather severe, with wars and conflicts occurring between many neighboring countries. He said that there is a growing trend of nuclear weapon proliferation, emphasizing that use of such weapons would cause significant harm between nations. He also pointed out that some countries even use nuclear weapons as a threat, leading to instability and impacting the global situation. Chairman Ohashi said that neither Taiwan nor Japan possesses nuclear weapons, which is something to be proud of. That is why, he said, we can declare that a world without nuclear weapons is a peaceful world. He also mentioned that during his tenure as chairman of the Japan-Taiwan Exchange Association, he consistently upheld this principle in his work. Chairman Ohashi said that the mission of the World Federalist Movement (WFM) is to promote world peace. He said that the WFM has branches in countries worldwide, with the WFM of Japan being one of the most prominent, and that it also aspires to achieve the goal of world peace. Having served as chairman of the Japan-Taiwan Exchange Association for 14 years, he said, he is now stepping down from this role and will serve as the chairman of the WFM of Japan, aiming to promote peace in countries around the world. Chairman Ohashi said that both Taiwan and Japan can take pride in our friendly bilateral relationship, emphasizing that if the good relationship between Japan and Taiwan could be offered as an example to countries around the world, there would be no more wars. He expressed his sincere hope that under President Lai’s leadership, Taiwan and Japan can work together to jointly promote world peace. Also in attendance at the ceremony was Japan-Taiwan Exchange Association Taipei Office Chief Representative Katayama Kazuyuki.

    Details
    2025-06-25
    President Lai meets Japan’s former Economic Security Minister Kobayashi Takayuki
    On the afternoon of June 25, President Lai Ching-te met with Kobayashi Takayuki, Japan’s former economic security minister and a current member of the House of Representatives. In remarks, President Lai expressed hope to combine the strengths of the democratic community to build resilient, reliable non-red supply chains, and ensure a resilient global economy and sustainable development. He also expressed hope that Taiwan and Japan can bring about the early signing of an economic partnership agreement (EPA), and that Japan will continue supporting Taiwan’s bid to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), enhancing our own bilateral partnership, as doing so would create win-win situations and further contribute to regional economic security and stability. The following is a translation of President Lai’s remarks: I welcome Representative Kobayashi back to Taiwan for another visit after seven years. During his last visit, he was with a delegation from the Liberal Democratic Party (LDP) Youth Division, and we met at the Executive Yuan. I am very happy to see him again today. Representative Kobayashi has long paid close attention to matters involving economic security, technological innovation, and aerospace policy. He also made a stunning debut in last year’s LDP presidential election, showing that he is truly a rising star and an influential figure in the political sphere. With this visit, Representative Kobayashi is demonstrating support for Taiwan with concrete action, which is very meaningful. Taiwan and Japan are both part of the first island chain’s key line of defense. We thank the many Japanese prime ministers, including former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as current Prime Minister Ishiba Shigeru, for the many times they have highlighted the importance of peace and stability in the Taiwan Strait at important international venues, and for expressing opposition to the use of force or coercion to unilaterally change the status quo in the Taiwan Strait. I hope that Taiwan and Japan can engage in more cooperation and exchanges to promote peace and prosperity in the Indo-Pacific region in all aspects. In particular, China in recent years has been actively expanding its red supply chains, which threaten the global free trade system and advanced technology markets. Taiwan hopes to combine the strengths of the democratic community to build resilient, reliable non-red supply chains. In the semiconductor industry, for example, Taiwan has excellent advanced manufacturing capabilities, while Japan plays an important role in materials, equipment, and key technologies. I am confident that, given the experience that Taiwan and Japan have in cooperating, we can build an industrial supply chain composed of democratic nations to ensure a resilient global economy and sustainable development. I hope that Taiwan and Japan can bring about the early signing of an EPA in order to deepen our bilateral trade and investment exchanges and cooperation. I also hope that Japan will continue supporting Taiwan’s bid to join the CPTPP, enhancing our own bilateral partnership, as doing so would create win-win situations and further contribute to regional economic security and stability. Taiwan and Japan are democratic partners that share the values of freedom, democracy, and respect for human rights. I firmly believe that so long as we work together, we can certainly address the challenges posed by authoritarianism, and bring prosperity and development to the Indo-Pacific region. In closing, I welcome Representative Kobayashi once again. I am certain that this visit will help enhance Taiwan-Japan exchanges and deepen our friendship. Representative Kobayashi then delivered remarks, first thanking President Lai for taking the time to meet with him, and noting that this was his second visit to Taiwan following a trip seven years prior, when he came with his good friend from college and then-Director of the LDP Youth Division Suzuki Keisuke, now Japan’s minister of justice. Representative Kobayashi mentioned a Japanese kanji that he is very fond of – 絆 (kizuna) – which means “deep ties of friendship.” He emphasized that a key purpose of this visit to Taiwan was to reiterate the deep ties of friendship between Taiwan and Japan. In addition to deep historical ties, he said, Taiwan and Japan also enjoy a like-minded partnership in terms of economic, personnel, and friendship-oriented exchanges. He went on to say that at the strategic level, Taiwan and Japan also have deep ties of friendship, and that for Japan, it is strategically important that Taiwan not be isolated under any circumstances. Representative Kobayashi emphasized that cooperation between Taiwan and Japan, and even cooperation among Taiwan, Japan, and the United States, are more important now than ever, and that another important focus of this visit is the non-red supply chains referred to earlier by President Lai. He said that as Japan’s first economic security minister and the person currently in charge of the LDP’s policy on economic security, he is acutely aware of the important impact of economic security on national interests, and therefore looks forward to further exchanging views regarding Taiwan’s concrete steps to build non-red supply chains. The delegation was accompanied to the Presidential Office by Japan-Taiwan Exchange Association Deputy Representative Takaba Yo.

    Details
    2025-06-16
    President Lai meets delegation led by Representative Bera, co-chair of US Congressional Taiwan Caucus
    On the morning of June 16, President Lai Ching-te met with a delegation led by Representative Ami Bera, co-chair of the US Congressional Taiwan Caucus. In remarks, President Lai thanked the representatives in Congress for actively voicing support for Taiwan and proposing numerous Taiwan-friendly initiatives to strengthen Taiwan-US ties, helping expand Taiwan’s international space and continuing to place focus on peace and stability across the Taiwan Strait. The president said that we will continue to strengthen bilateral investment and industrial cooperation and create a more comprehensive environment for economic and trade exchanges to jointly enhance economic and developmental resilience. A translation of President Lai’s remarks follows: I am delighted to meet with the delegation and welcome Congressman Bera back to the Presidential Office. Last January, he visited after the presidential election, demonstrating the steadfast backing of the US Congress for democratic Taiwan. This time, as head of a delegation of new members of the House Armed Services Committee and the Foreign Affairs Committee, he is continuing to foster US congressional support for Taiwan. On behalf of the people of Taiwan, I extend a sincere welcome to Congressman Bera and all our esteemed guests. Over the years, staunch bipartisan US congressional backing of Taiwan has been a key force for steadily advancing our bilateral relations. I thank the representatives in Congress for actively voicing support for Taiwan and proposing numerous Taiwan-friendly initiatives, thereby strengthening Taiwan-US ties, helping expand Taiwan’s international space, and continuing to place focus on peace and stability across the Taiwan Strait. I want to emphasize that Taiwan has an unwavering determination to safeguard peace and stability in the Indo-Pacific region. Over the past year, the government and private sector have been working together to enhance Taiwan’s whole-of-society defense resilience and accelerate reform of national defense. The government is also prioritizing special budget allocations to ensure that our defense budget exceeds three percent of GDP this year. I hope that Taiwan-US security cooperation will evolve beyond military procurement to a partnership that encompasses joint research and development and joint production, further strengthening cooperation and exchange in the defense industry. Regarding industrial exchanges, last month, Minister of Foreign Affairs Lin Chia-lung (林佳龍) and Minister of Economic Affairs Kuo Jyh-huei (郭智輝) each visited Texas to see firsthand Taiwan-US collaboration in AI and semiconductors. And the delegation led by Executive Yuan Secretary-General Kung Ming-hsin (龔明鑫) sent by Taiwan to this year’s SelectUSA Investment Summit in Washington, DC, was again the largest of those attending. All of this demonstrates Taiwan’s commitment to working alongside the US to create mutual prosperity. In the future, we will continue to strengthen bilateral investment and industrial cooperation. And I hope that the legislation addressing the issue of Taiwan-US double taxation will become law this year. I want to thank Congressman Bera for co-leading a joint letter last November signed by over 100 members of Congress calling for such legislation. I believe that by creating a more comprehensive environment for economic and trade exchanges, Taiwan and the US can enhance economic and developmental resilience. In closing, I thank you all for making the long journey here to advance Taiwan-US relations. Let us continue working together to promote the prosperous development of this important partnership. Congressman Bera then delivered remarks, saying that on behalf of the delegation, it is an honor for him to be here once again, it being last January that he and Congressman Mario Díaz-Balart visited and congratulated President Lai on his election victory, noting that theirs was the first congressional delegation to do so. Congressman Bera said that this is an important time, not just for the US and Taiwan relationship, but for all relationships around the world. When we look at conflicts in Europe and in the Middle East, he said, it is incumbent upon democracies to hold the peace in Asia. He emphasized that is why it is important for them to bring a delegation of members of the Foreign Affairs Committee and the Armed Services Committee, adding that he believes for all of them it is their first trip to Taiwan.  Congressman Bera said that while this is a delegation of Democratic members of Congress, in a bipartisan way all of Congress continues to support the people of Taiwan. As such, in this visit he brings support from his co-chairs on the Taiwan caucus, Congressman Díaz-Balart and Congressman Andy Barr. He also took a moment to recognize the passing of Congressman Gerald Connolly, who was a longtime friend of Taiwan and one of their co-chairs on the caucus. Congressman Bera mentioned that there is always a special bond between himself and President Lai because they are both doctors, and as doctors, their profession is about healing, keeping the peace, and making sure everybody has a bright, prosperous future. In closing, he highlighted that it is in that spirit that their delegation visits with the president. The delegation also included members of the US Congress Gabe Amo, Wesley Bell, Julie Johnson, Sarah McBride, and Johnny Olszewski.

    Details
    2025-06-13
    President Lai meets delegation led by French National Assembly Taiwan Friendship Group Chair Marie-Noëlle Battistel
    On the morning of June 12, President Lai Ching-te met a delegation led by Marie-Noëlle Battistel, chair of the French National Assembly’s Taiwan Friendship Group. In remarks, President Lai thanked the National Assembly for its long-term support for Taiwan’s international participation and for upholding security in the Taiwan Strait, helping make France the first major country in the world to enact legislation to uphold freedom of navigation in the Taiwan Strait. The president also said that exchanges and cooperation between Taiwan and France are becoming more frequent, and that he hopes this visit by the Taiwan Friendship Group will inject new momentum into Taiwan-France relations and help build closer partnerships in the economy, trade, energy, and digital security.  A translation of President Lai’s remarks follows: First, I would like to welcome Chair Battistel, who is once again leading a visiting delegation. Last year, Chair Battistel co-led a delegation to attend the inauguration ceremony for myself and Vice President Bi-khim Hsiao. This is her fourth visit, and first as chair of the Taiwan Friendship Group, which makes it especially meaningful. This delegation’s visit demonstrates strong support for Taiwan, and on behalf of the people of Taiwan, I want to express my sincerest welcome and thanks. France is a pioneer in promoting free and democratic values. These are values that Taiwan cherishes and is working hard to defend. I want to express gratitude to the French Parliament for their long-term support for Taiwan’s international participation, and for upholding security in the Taiwan Strait. The French Parliament’s two chambers have continued to strongly support Taiwan, with the passage of a resolution supporting Taiwan’s participation in international organizations in 2021, as well as the passage of the seven-year Military Programming Law in 2023. This has made France the first major country in the world to enact legislation to uphold freedom of navigation in the Taiwan Strait. Through it all, the Taiwan Friendship Group has played a key role, and I want to thank all of our distinguished guests for their efforts. Over the past few years, Taiwan and France have continued to deepen cooperation in areas including the economy, technology, culture, and sports. At the Choose France summit held in Paris last month, Taiwanese and French enterprises also announced they will launch cooperation in the semiconductor and satellite fields. The VivaTech startup exhibition, now being held in France, also has many Taiwanese vendors participating. Exchanges and cooperation between Taiwan and France, whether official or people-to-people, are becoming more and more frequent. I hope that this visit by the Taiwan Friendship Group will inject new momentum into Taiwan-France relations, building closer partnerships in the economy, trade, energy, and digital security.  To address current geopolitical and economic challenges, Taiwan will continue to join forces with France and other like-minded countries to jointly safeguard peace and stability in the Indo-Pacific region, and contribute our concerted efforts to global prosperity and development. Once again, I want to welcome our visitors to Taiwan. I hope to continue our joint efforts to create a more prosperous future for both Taiwan and France.   Chair Battistel then delivered remarks, thanking President Lai for extending this invitation. Last year on May 20, she said, she and her delegation attended the presidential inauguration ceremony, so she was delighted to visit Taiwan once again with the French National Assembly’s Taiwan Friendship Group and bear witness to their friendship with Taiwan. Chair Battistel noted that this visit has given them an opportunity to strengthen Taiwan-France relations in areas including the economy, culture, the humanities, and diplomacy, and conduct exchanges with numerous heads of government agencies and research institutes. It has also been an opportunity, she said, to witness the importance of exchanges and cooperation with Taiwan in areas including energy, semiconductors, youth, and culture, and the impact created by important issues of mutual concern, including AI and disinformation, on the security of many countries. Chair Battistel praised Taiwan for its youth development efforts, and said that under the Taiwan Global Pathfinders Initiative, 30 Taiwanese young people have embarked on a visit to France, with itineraries including the United Nations Ocean Conference and the VivaTech exhibition, as well as the city of Toulouse, which is strategically important for the aerospace industry. Members of the group are also conducting exchanges at the French National Assembly, she said.  Chair Battistel stated that the Taiwan-France partnership is growing closer, and that she hopes to continue to strengthen bilateral exchanges and cooperation, as supporting peace for Taiwan supports peace around the world.  The delegation also included Taiwan Friendship Group Vice Chair Éric Martineau, as well as National Assembly Committee on Foreign Affairs Vice Chair Laetitia Saint-Paul and Deputies Marie-José Allemand and Claudia Rouaux. The delegation was accompanied to the Presidential Office by French Office in Taipei Deputy Director Cléa Le Cardeur.

    Details
    2025-05-20
    President Lai interviewed by Nippon Television and Yomiuri TV
    In a recent interview on Nippon Television’s news zero program, President Lai Ching-te responded to questions from host Mr. Sakurai Sho and Yomiuri TV Shanghai Bureau Chief Watanabe Masayo on topics including reflections on his first year in office, cross-strait relations, China’s military threats, Taiwan-United States relations, and Taiwan-Japan relations. The interview was broadcast on the evening of May 19. During the interview, President Lai stated that China intends to change the world’s rules-based international order, and that if Taiwan were invaded, global supply chains would be disrupted. Therefore, he said, Taiwan will strengthen its national defense, prevent war by preparing for war, and achieve the goal of peace. The president also noted that Taiwan’s purpose for developing drones is based on national security and industrial needs, and that Taiwan hopes to collaborate with Japan. He then reiterated that China’s threats are an international problem, and expressed hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war. Following is the text of the questions and the president’s responses: Q: How do you feel as you are about to round out your first year in office? President Lai: When I was young, I was determined to practice medicine and save lives. When I left medicine to go into politics, I was determined to transform Taiwan. And when I was sworn in as president on May 20 last year, I was determined to strengthen the nation. Time flies, and it has already been a year. Although the process has been very challenging, I am deeply honored to be a part of it. I am also profoundly grateful to our citizens for allowing me the opportunity to give back to our country. The future will certainly be full of more challenges, but I will do everything I can to unite the people and continue strengthening the nation. That is how I am feeling now. Q: We are now coming up on the 80th anniversary of the end of World War II, and over this period, we have often heard that conflict between Taiwan and the mainland is imminent. Do you personally believe that a cross-strait conflict could happen? President Lai: The international community is very much aware that China intends to replace the US and change the world’s rules-based international order, and annexing Taiwan is just the first step. So, as China’s military power grows stronger, some members of the international community are naturally on edge about whether a cross-strait conflict will break out. The international community must certainly do everything in its power to avoid a conflict in the Taiwan Strait; there is too great a cost. Besides causing direct disasters to both Taiwan and China, the impact on the global economy would be even greater, with estimated losses of US$10 trillion from war alone – that is roughly 10 percent of the global GDP. Additionally, 20 percent of global shipping passes through the Taiwan Strait and surrounding waters, so if a conflict breaks out in the strait, other countries including Japan and Korea would suffer a grave impact. For Japan and Korea, a quarter of external transit passes through the Taiwan Strait and surrounding waters, and a third of the various energy resources and minerals shipped back from other countries pass through said areas. If Taiwan were invaded, global supply chains would be disrupted, and therefore conflict in the Taiwan Strait must be avoided. Such a conflict is indeed avoidable. I am very thankful to Prime Minister of Japan Ishiba Shigeru and former Prime Ministers Abe Shinzo, Suga Yoshihide, and Kishida Fumio, as well as US President Donald Trump and former President Joe Biden, and the other G7 leaders, for continuing to emphasize at international venues that peace and stability across the Taiwan Strait are essential components for global security and prosperity. When everyone in the global democratic community works together, stacking up enough strength to make China’s objectives unattainable or to make the cost of invading Taiwan too high for it to bear, a conflict in the strait can naturally be avoided. Q: As you said, President Lai, maintaining peace and stability across the Taiwan Strait is also very important for other countries. How can war be avoided? What sort of countermeasures is Taiwan prepared to take to prevent war? President Lai: As Mr. Sakurai mentioned earlier, we are coming up on the 80th anniversary of the end of WWII. There are many lessons we can take from that war. First is that peace is priceless, and war has no winners. From the tragedies of WWII, there are lessons that humanity should learn. We must pursue peace, and not start wars blindly, as that would be a major disaster for humanity. In other words, we must be determined to safeguard peace. The second lesson is that we cannot be complacent toward authoritarian powers. If you give them an inch, they will take a mile. They will keep growing, and eventually, not only will peace be unattainable, but war will be inevitable. The third lesson is why WWII ended: It ended because different groups joined together in solidarity. Taiwan, Japan, and the Indo-Pacific region are all directly subjected to China’s threats, so we hope to be able to join together in cooperation. This is why we proposed the Four Pillars of Peace action plan. First, we will strengthen our national defense. Second, we will strengthen economic resilience. Third is standing shoulder to shoulder with the democratic community to demonstrate the strength of deterrence. Fourth is that as long as China treats Taiwan with parity and dignity, Taiwan is willing to conduct exchanges and cooperate with China, and seek peace and mutual prosperity. These four pillars can help us avoid war and achieve peace. That is to say, Taiwan hopes to achieve peace through strength, prevent war by preparing for war, keeping war from happening and pursuing the goal of peace. Q: Regarding drones, everyone knows that recently, Taiwan has been actively researching, developing, and introducing drones. Why do you need to actively research, develop, and introduce new drones at this time? President Lai: This is for two purposes. The first is to meet national security needs. The second is to meet industrial development needs. Because Taiwan, Japan, and the Philippines are all part of the first island chain, and we are all democratic nations, we cannot be like an authoritarian country like China, which has an unlimited national defense budget. In this kind of situation, island nations such as Taiwan, Japan, and the Philippines should leverage their own technologies to develop national defense methods that are asymmetric and utilize unmanned vehicles. In particular, from the Russo-Ukrainian War, we see that Ukraine has successfully utilized unmanned vehicles to protect itself and prevent Russia from unlimited invasion. In other words, the Russo-Ukrainian War has already proven the importance of drones. Therefore, the first purpose of developing drones is based on national security needs. Second, the world has already entered the era of smart technology. Whether generative, agentic, or physical, AI will continue to develop. In the future, cars and ships will also evolve into unmanned vehicles and unmanned boats, and there will be unmanned factories. Drones will even be able to assist with postal deliveries, or services like Uber, Uber Eats, and foodpanda, or agricultural irrigation and pesticide spraying. Therefore, in the future era of comprehensive smart technology, developing unmanned vehicles is a necessity. Taiwan, based on industrial needs, is actively planning the development of drones and unmanned vehicles. I would like to take this opportunity to express Taiwan’s hope to collaborate with Japan in the unmanned vehicle industry. Just as we do in the semiconductor industry, where Japan has raw materials, equipment, and technology, and Taiwan has wafer manufacturing, our two countries can cooperate. Japan is a technological power, and Taiwan also has significant technological strengths. If Taiwan and Japan work together, we will not only be able to safeguard peace and stability in the Taiwan Strait and security in the Indo-Pacific region, but it will also be very helpful for the industrial development of both countries. Q: The drones you just described probably include examples from the Russo-Ukrainian War. Taiwan and China are separated by the Taiwan Strait. Do our drones need to have cross-sea flight capabilities? President Lai: Taiwan does not intend to counterattack the mainland, and does not intend to invade any country. Taiwan’s drones are meant to protect our own nation and territory. Q: Former President Biden previously stated that US forces would assist Taiwan’s defense in the event of an attack. President Trump, however, has yet to clearly state that the US would help defend Taiwan. Do you think that in such an event, the US would help defend Taiwan? Or is Taiwan now trying to persuade the US? President Lai: Former President Biden and President Trump have answered questions from reporters. Although their responses were different, strong cooperation with Taiwan under the Biden administration has continued under the Trump administration; there has been no change. During President Trump’s first term, cooperation with Taiwan was broader and deeper compared to former President Barack Obama’s terms. After former President Biden took office, cooperation with Taiwan increased compared to President Trump’s first term. Now, during President Trump’s second term, cooperation with Taiwan is even greater than under former President Biden. Taiwan-US cooperation continues to grow stronger, and has not changed just because President Trump and former President Biden gave different responses to reporters. Furthermore, the Trump administration publicly stated that in the future, the US will shift its strategic focus from Europe to the Indo-Pacific. The US secretary of defense even publicly stated that the primary mission of the US is to prevent China from invading Taiwan, maintain stability in the Indo-Pacific, and thus maintain world peace. There is a saying in Taiwan that goes, “Help comes most to those who help themselves.” Before asking friends and allies for assistance in facing threats from China, Taiwan must first be determined and prepared to defend itself. This is Taiwan’s principle, and we are working in this direction, making all the necessary preparations to safeguard the nation. Q: I would like to ask you a question about Taiwan-Japan relations. After the Great East Japan Earthquake in 2011, you made an appeal to give Japan a great deal of assistance and care. In particular, you visited Sendai to offer condolences. Later, you also expressed condolences and concern after the earthquakes in Aomori and Kumamoto. What are your expectations for future Taiwan-Japan exchanges and development? President Lai: I come from Tainan, and my constituency is in Tainan. Tainan has very deep ties with Japan, and of course, Taiwan also has deep ties with Japan. However, among Taiwan’s 22 counties and cities, Tainan has the deepest relationship with Japan. I sincerely hope that both of you and your teams will have an opportunity to visit Tainan. I will introduce Tainan’s scenery, including architecture from the era of Japanese rule, Tainan’s cuisine, and unique aspects of Tainan society, and you can also see lifestyles and culture from the Showa era.  The Wushantou Reservoir in Tainan was completed by engineer Mr. Hatta Yoichi from Kanazawa, Japan and the team he led to Tainan after he graduated from then-Tokyo Imperial University. It has nearly a century of history and is still in use today. This reservoir, along with the 16,000-km-long Chianan Canal, transformed the 150,000-hectare Chianan Plain into Taiwan’s premier rice-growing area. It was that foundation in agriculture that enabled Taiwan to develop industry and the technology sector of today. The reservoir continues to supply water to Tainan Science Park. It is used by residents of Tainan, the agricultural sector, and industry, and even the technology sector in Xinshi Industrial Park, as well as Taiwan Semiconductor Manufacturing Company. Because of this, the people of Tainan are deeply grateful for Mr. Hatta and very friendly toward the people of Japan. A major earthquake, the largest in 50 years, struck Tainan on February 6, 2016, resulting in significant casualties. As mayor of Tainan at the time, I was extremely grateful to then-Prime Minister Abe, who sent five Japanese officials to the disaster site in Tainan the day after the earthquake. They were very thoughtful and asked what kind of assistance we needed from the Japanese government. They offered to provide help based on what we needed. I was deeply moved, as former Prime Minister Abe showed such care, going beyond the formality of just sending supplies that we may or may not have actually needed. Instead, the officials asked what we needed and then provided assistance based on those needs, which really moved me. Similarly, when the Great East Japan Earthquake of 2011 or the later Kumamoto earthquakes struck, the people of Tainan, under my leadership, naturally and dutifully expressed their support. Even earlier, when central Taiwan was hit by a major earthquake in 1999, Japan was the first country to deploy a rescue team to the disaster area. On February 6, 2018, after a major earthquake in Hualien, former Prime Minister Abe appeared in a video holding up a message of encouragement he had written in calligraphy saying “Remain strong, Taiwan.” All of Taiwan was deeply moved. Over the years, Taiwan and Japan have supported each other when earthquakes struck, and have forged bonds that are family-like, not just neighborly. This is truly valuable. In the future, I hope Taiwan and Japan can be like brothers, and that the peoples of Taiwan and Japan can treat one another like family. If Taiwan has a problem, then Japan has a problem; if Japan has a problem, then Taiwan has a problem. By caring for and helping each other, we can face various challenges and difficulties, and pursue a brighter future. Q: President Lai, you just used the phrase “If Taiwan has a problem, then Japan has a problem.” In the event that China attempts to invade Taiwan by force, what kind of response measures would you hope the US military and Japan’s Self-Defense Forces take? President Lai: As I just mentioned, annexing Taiwan is only China’s first step. Its ultimate objective is to change the rules-based international order. That being the case, China’s threats are an international problem. So, I would very much hope to work together with the US, Japan, and others in the global democratic community to prevent China from starting a war – prevention, after all, is more important than cure.

    MIL OSI Asia Pacific News

  • MIL-OSI Australia: Arrests – Police vehicle rammed – Alice Springs

    Source: Northern Territory Police and Fire Services

    The Northern Territory Police Force has arrested two 14-year-old males after a police vehicle ramming incident occurred in Alice Springs yesterday.

    Around 5:40am on Tuesday 1 July, the Joint Emergency Services Communication Centre received a report that a red Mahindra station wagon had been stolen from a residence in Teatree Court in Sadadeen. The victim reported seeing two unknown persons inside the vehicle leaving the area.

    At 6am, police CCTV operators observed the vehicle at a service station on Railway Terrace. Two police vehicles responded and sighted one offender running from the scene on foot, and the second offender entering the stolen vehicle. The driver reversed at speed and rammed into the front of one of the police vehicles, before fleeing the area.

    No police member was injured as a result of the incident, however the police vehicle sustained substantial damage.

    The 14-year-old passenger was arrested nearby after a short foot chase.

    Earlier today, the 14-year-old driver was also arrested and the stolen motor vehicle was recovered by police.

    Commander Mark Grieve said, “This incident highlights the dangers that our members face every day while responding to violent behaviour.

    “It is appalling behaviour, and police do not deserve to be targeted while executing their duty of serving and protecting the community.

    “This could have easily resulted in serious injury or death, and I commend the officers for acting safely and professionally under challenging circumstances.”

    MIL OSI News

  • MIL-OSI China: ACCWS releases new report on greater BRICS cooperation

    Source: People’s Republic of China – State Council News

    The BRICS Seminar on Governance & Cultural Exchange Forum 2025 is held in Rio de Janeiro, Brazil, June 30, 2025. [Photo provided to China.org.cn]

    The Academy of Contemporary China and World Studies (ACCWS) on Monday released a report titled “Greater BRICS Cooperation: A Pillar of Stability and Progress in a Changing World” at the BRICS Seminar on Governance & Cultural Exchange Forum 2025 in Rio de Janeiro, Brazil.

    Presented by ACCWS Vice President Sun Jingxin, the report highlights how BRICS has evolved from a concept into a major platform for Global South cooperation and is now entering a new phase of greater BRICS cooperation. 

    The study examines the contributions that BRICS has made across areas including political security, economic development, technological innovation, environmental protection and cultural exchange, emphasizing its growing influence on global governance.  

    According to the report, the greater BRICS has remained true to its founding mission of openness, inclusiveness and win-win cooperation. Its evolving vision manifests in five key dimensions that continuously enhance the bloc’s global influence: boosting growth, pursuing reform, championing inclusiveness, deepening cooperation and advancing sustainability. 

    Specifically, “boosting” stands for the greater BRICS’ resolve to inject robust impetus into global development, “reformative” signifies a commitment to global governance transformation, “inclusive” demonstrates a commitment to openness and cross-civilization dialogue, “cooperative” exemplifies the modern interpretation of partnership, and “sustainable” shows the focus on long-term progress and future well-being. 

    Sun also stressed that as the world navigates unprecedented transformation, the international community — developing countries in particular — expects BRICS to serve three vital roles: as a standard-bearer for collective self-reliance, a trailblazer for Global South interests, and an architect of a more just world order. This leadership, he concluded, will be essential to securing a future marked by peace, stability and sustainable progress.

    MIL OSI China News

  • MPEDA hosts inaugural National Skill Olympiad to boost seafood value addition

    Source: Government of India

    Source: Government of India (4)

    The Marine Products Export Development Authority (MPEDA), under the Ministry of Commerce & Industry, successfully on Tuesday held the grand finale of its first-ever National Skill Olympiad on seafood value addition at the Seafood Expo Bharat in Chennai. The initiative aims to foster a skilled workforce and promote innovation in value-added seafood exports.

    Emerging victorious in the closely contested final was Thanseer K R of Abad Foods, Malipuram, Kerala. The awards were presented by Member of Parliament and MPEDA Authority Member Hibi George Eden D. V. Swamy, Chairman of MPEDA.

    The Olympiad, a pioneering effort by MPEDA, saw participation from trained seafood processing professionals from both the East and West coasts of India. Preliminary rounds were held in Kochi on May 29 and in Visakhapatnam on June 5, with the top ten candidates advancing to the semi-finals on June 30. From there, four finalists were selected for the finale.

    The final round featured professionals from across the country competing on aspects such as quality, hygiene, execution, and presentation. Balamurugan I from Edhayam Frozen Foods Pvt Ltd, Tuticorin, Tamil Nadu secured second place, while Sandya Rani Palaparthi of Coastal Cooperation Ltd, Kakinada, Andhra Pradesh came third. D. Anitha, also from Kakinada, representing Sandhya Aqua Exports Pvt Ltd, finished fourth.

    Prize money of ₹1,00,000 was awarded to the winner, followed by ₹75,000 and ₹50,000 for second and third place respectively. The fourth-place finalist received a consolation prize of ₹25,000. All participants were also honoured with medals and certificates.

    Speaking at the event, Hibi Eden lauded MPEDA’s innovative approach in organizing the Olympiad and emphasized its role in advancing India’s seafood export industry. Chairman Shri D. V. Swamy highlighted the Olympiad’s contribution toward making India a global hub for value-added seafood and announced plans to make the event an annual feature in MPEDA’s calendar.

    The finale drew participation from a wide range of stakeholders, including officials from Central and State fisheries departments, seafood exporters, foreign buyers, and delegates of the ongoing Seafood Expo Bharat 2025.

    In addition to the competition, seafood products crafted by the finalists were showcased for public viewing, accompanied by a live tasting session at the MPEDA Skill Olympiad pavilion, giving attendees a direct experience of the culinary excellence and processing expertise on display.

  • MIL-OSI China: In pics: Qinghai Lake advances eco-tourism

    Source: People’s Republic of China – State Council News

    In pics: Qinghai Lake advances eco-tourism

    By Zhang Jiaqi

    China SCIO | July 2, 2025

    Editor’s note: Qinghai Lake, China’s largest inland saltwater lake, has been continuously improving biodiversity and its whole ecosystem while developing sustainable tourism. All the necessary steps toward becoming a national park have now been completed. On their way to various scenic areas and viewing points, visitors can observe crystal-clear waters and thriving wildlife, including migratory birds, fish, and gazelles. These are the fruits of tireless environmental protection efforts that harmonize conservation with responsible tourism.

    A scene at Qinghai Lake, Qinghai province, July 1, 2025. [Photo by Zhang Jiaqi/China SCIO]

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    MIL OSI China News

  • MIL-OSI Banking: Secretary-General of ASEAN attends working lunch hosted by UN Resident Coordinator in Indonesia

    Source: ASEAN

    Secretary-General of ASEAN, Dr. Kao Kim Hourn, today attended a working lunch hosted by the United Nations Resident Coordinator in Indonesia, Gita Sabharwal, alongside the Heads of five UN Agencies in Indonesia. The meeting provided an opportunity to exchange views on ASEAN–UN Comprehensive Partnership, particularly in the areas of transnational crime, food and agriculture, culture and information, women’s empowerment, and disaster management. Both sides reaffirmed their commitment to finalising the new ASEAN–UN Plan of Action (2026–2030) for adoption later this year, which will guide cooperation between both sides.

    The post Secretary-General of ASEAN attends working lunch hosted by UN Resident Coordinator in Indonesia appeared first on ASEAN Main Portal.

    MIL OSI Global Banks

  • MIL-OSI Africa: Senegal Introduces Hexavalent Vaccine into its National Immunization Programme


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    On July 1, 2025, Senegal officially launched the introduction of the hexavalent vaccine into its Expanded Program on Immunization (EPI). Following in Mauritania’s footsteps, Senegal is part of this regional dynamic of vaccine innovation. This vaccine is a combination that protects against six diseases: diphtheria, tetanus, whooping cough, hepatitis B, Haemophilus influenzae type B (Hib), and poliomyelitis. It replaces the pentavalent and inactivated polio vaccines (IPV), previously administered separately.

    The introduction of hexavalent meets three major scientific objectives. Firstly, to reduce the number of injections infants undergo at each visit: a single injection now replaces the two previously required for Penta and IPV. Secondly, to reinforce protection against polio by increasing the number of doses of inactivated vaccine from two to three before the age of 6 months. Thirdly, to introduce an essential booster dose at 15 months, in line with the latest recommendations from the World Health Organization (WHO), to consolidate herd immunity and optimize the vaccination schedule.

    This change is also a response to regional issues, as some derived poliovirus variants are still circulating in Africa, and the WHO recommends two-dose IPV coverage to deal with this.

    Funding for this introduction is provided mainly by Gavi, the Vaccine Alliance, which covers most of the costs associated with the supply of doses. The Senegalese government is contributing a further 20%, demonstrating its commitment to the sustainability of this program.

    This is a game-changer for children’s health in Senegal, as the teams not only protect children more effectively but also strengthen the fight against polio, which remains a global public health emergency of international concern.

    In his speech, Dr Ibrahima Sy, Minister of Health and Social Action, underlined the significance of this reform: “For the past 18 months, our teams have been working tirelessly to prepare this transition. Hexavalent embodies our commitment to offering Senegalese children simplified and reinforced protection. Thanks to this vaccine, we expect to avoid 2,300 hospitalizations a year from targeted diseases by 2030.” The Minister also paid tribute to the technical partners and health workers whose dedication has made this breakthrough possible.

    The WHO has played a central role in the success of this transition. Nearly 6,000 health workers, including district management teams (ECD) and regional management teams (ECR), have been trained in the specifics of the new vaccine. This intensive training covered the rigorous management of the cold chain, as hexavalent must be kept between +2°C and +8°C and never frozen. Agents were also certified on precise intramuscular administration techniques in the right thigh of infants, and on the protocol for monitoring benign side effects such as local redness or transient fever. To ensure a smooth transition, the WHO provided real-time monitoring tools enabling each vial to be traced throughout the country.

    WHO also supported the development of interpersonal communication materials, enabling health workers to better explain the change to parents, reassure them of the vaccine’s safety, and stress the importance of adhering to the vaccination schedule.

    Dr Jean-Marie Vianny Yameogo, WHO Representative in Senegal, hailed this historic milestone: “This launch marks 46 years of evolution for the Senegalese EPI. Hexavalent is not simply a scientific advance, it is an act of equity that protects every child, whatever their origin. By reducing the burden of preventable diseases, we are unleashing the potential of an entire generation.”

    As a long-standing EPI partner, UNICEF has also contributed to the supply, logistics, and awareness-raising around this essential vaccine. Dr Jacques Boyer, UNICEF Representative in Senegal, underlined: “This introduction marks a decisive turning point for the survival and well-being of children. By strengthening access to a more complete and convenient vaccine, we are bringing Senegal closer to a future where every child has an equal chance to grow up healthy.”

    This initiative positions Senegal as a key player in vaccine innovation in sub-Saharan Africa. By merging several antigens into a single product, the country is demonstrating how to optimize healthcare systems with limited resources. Reducing the number of injections not only improves the experience of children and parents, but also simplifies logistics, cuts storage costs, and boosts immunization coverage rates. According to projections, this strategy will make a significant contribution to achieving the goals of the WHO’s IA2030 Agenda, which aims to save 50 million lives through immunization by the end of the decade. Several neighboring countries, such as Côte d’Ivoire and Burkina Faso, are already studying this model for their own programs.

    Distributed by APO Group on behalf of World Health Organization (WHO) – Senegal.

    MIL OSI Africa

  • MIL-OSI Africa: Democratic Republic of Congo (DRC): Peace deal with Rwanda fails to address serious crimes committed in eastern DRC


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    The recent peace agreement signed between the Democratic Republic of Congo (DRC) and Rwanda fails to address justice for the victims of serious crimes by not including any provisions aimed at holding their perpetrators to account, Amnesty International said today.

    “Without addressing impunity for the horrific crimes committed in eastern DRC, the agreement missed an opportunity to decisively tackle a long-standing driver of the conflict,” said Agnès Callamard, Amnesty International’s Secretary General.

    “When human rights abusers are not investigated and held to account, it leads to a vicious cycle of abuses in which civilians pay the price. This must stop for security to be sustainable.”

    Since the agreement was signed in Washington DC on 27 June, Amnesty International has received credible reports that the Rwanda-backed March 23 Movement (M23) and Wazalendo armed groups – many of which are supported by the Congolese army – have continued to clash in North and South Kivu provinces, resulting in the deaths of civilians. In addition, M23 continues to abduct young men and take them to unknown locations. M23, which is negotiating with the DRC government in a separate mediation process led by Qatar, “took note” of the US-facilitated peace deal on 30 June but stated recently that it did not concern them.

    Rwanda and the DRC must urgently press M23 and Wazalendo groups to prioritize civilian protection.

    “The people of eastern Congo have had their hopes for justice and security raised and then dashed by the signing and failure of numerous peace agreements over the last 25 years. DRC and Rwanda owe it to the people of eastern Congo – who continue to face untold suffering at the hands of the Wazalendo and M23 – to push the armed groups they support and collaborate with to protect civilians and to respect international humanitarian law,” said Agnès Callamard.

    Background

    The human rights situation in eastern DRC has deteriorated since Rwandan-backed M23 fighters entered the country in November 2021 and went on to capture large areas of North and South Kivu provinces.

    The United Nations (UN) Group of Experts and Human Rights Watch have documented Rwanda’s support of the M23, the latest in a series of armed groups operating in DRC that Rwanda has backed since the late 1990s.

    On 27 January 2025, M23 declared that it had captured Goma after residents and displaced people fled to safety in other parts of DRC or neighbouring countries.  On 16 February, M23 seized Bukavu, a key trading hub and capital of South Kivu province. The UN confirmed cases of summary killings and had received reports of “arbitrary arrests and detentions, degrading treatment and alleged forced returns of Congolese young men fleeing violence in neighbouring countries.”

    Amnesty International has documented how the M23 killed, tortured and forcibly disappeared detainees, held some as hostages, and subjected them to inhumane conditions at detention sites in Goma and Bukavu, which may amount to war crimes. The Wazalendo are a loose coalition of armed groups fighting the M23 and backed by the Congolese army. The UN and other human rights organizations have documented human rights abuses committed by the Wazalendo.

    On 27 June 2025, Rwanda and DRC signed a peace deal in Washington, DC, aimed at ending the conflict between the two neighbours.

    Distributed by APO Group on behalf of Amnesty International.

    MIL OSI Africa

  • MIL-OSI Africa: Powers and Privileges Committee Refers Mr Visvin Reddy’s Matter to Parliamentary Disciplinary Committee


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    The Powers and Privileges Committee this afternoon resolved to refer the matter, at the request of the Speaker of the National Assembly (NA), relating to the conduct of Mr Visvin Reddy during the sitting of the 4 March 2025, to Parliament’s Disciplinary Committee.

    The committee agreed that although Mr Reddy’s actions do not constitute contempt of Parliament as per Section 12 of the Powers, Privileges and Immunities of Parliament and Provincial Legislatures Act, his actions do constitute misconduct.

    The matter was referred to the committee by the Speaker of the National Assembly in terms of rule 214 of the NA Rules. The committee will table its report to the NA for consideration.

    The committee also considered another matter referred by the Speaker relating to the conduct of Mr Marlon Daniels on 2 April 2025. The committee resolved to proceed with a formal inquiry to determine, through oral evidence, whether Mr Daniels’ actions constituted contempt of Parliament in terms of the Act and NA Rules.

    Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

    MIL OSI Africa

  • MIL-OSI Africa: Children’s lives ‘turned upside down’ by wars across Middle East, North Africa, warns the United Nations Children’s Fund (UNICEF)


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    Alarmingly, 110 million children in the region live in countries affected by war, with homes, schools and health facilities damaged or destroyed in fighting.

    “A child’s life is being turned upside down the equivalent of every five seconds due to the conflicts in the region,” said Edouard Beigbeder, UNICEF Regional Director for the Middle East and North Africa, on Tuesday.

    UNICEF estimates indicate that 45 million children across the region will require humanitarian assistance in 2025, a 41 per cent increase since 2020.  

    Funding shortfalls  

    However, funding gaps are affecting vital programmes across the region.

    For instance, as of May, Syria faced a 78 per cent funding gap and the State of Palestine a 68 per cent gap for their 2025 appeals. UNICEF’s regional programmes are also under increasing financial strain.

    The outlook for 2026 also remains bleak, UNICEF said, noting that its funding for Middle East and North Africa is projected to decline by 20 to 25 per cent, potentially resulting in shortfalls of up to $370 million.

    Conflicts must stop  

    This would jeopardize lifesaving programmes across the region, including treatment for severe malnutrition, safe water production in conflict zones and vaccinations against deadly diseases.

    “As the plight of children in the region worsens, the resources to respond are becoming sparser,” said Mr. Beigbeder.

    “Conflicts must stop. International advocacy to resolve these crises must intensify. And support for vulnerable children must increase, not decline.”

    Distributed by APO Group on behalf of UN News.

    MIL OSI Africa

  • MIL-OSI Russia: Bolivarian Alliance Condemns US Policy Towards Cuba

    Translation. Region: Russian Federal

    Source: People’s Republic of China in Russian – People’s Republic of China in Russian –

    Source: People’s Republic of China – State Council News

    CARACAS, July 2 (Xinhua) — The Bolivarian Alliance for the Peoples of the Americas-Peoples’ Trade Agreement (ALBA-TPA) on Tuesday strongly condemned the U.S. policy of intensifying economic aggression against Cuba.

    In its statement, the Latin American bloc condemned Washington’s decision to renew the presidential memorandum strengthening the blockade of Cuba.

    The decision marks an intensification of US efforts to achieve regime change and undermine key sectors in Cuba, including tourism, health, migration, cultural and academic exchanges, and access to technology, the alliance said in a statement.

    The true intention of the US government is to dominate Cuba and control its future, the statement said. The Bolivarian Alliance stressed its unwavering solidarity with the Cuban people and government in defense of sovereignty, freedom and self-determination. –0–

    MIL OSI Russia News

  • MIL-OSI Asia-Pac: LCQ11: Developing tourism projects with distinctive intellectual properties

    Source: Hong Kong Government special administrative region

    LCQ11: Developing tourism projects with distinctive intellectual properties 
    Question:
     
    There are views that Hong Kong has a number of intellectual property (IP) projects with local characteristics, among which the film “Twilight of the Warriors: Walled In” has been well received both locally and overseas. In Japan, a restaurant has even launched peripheral food products inspired by the film, which sell out every day. Moreover, many film fans have visited Hong Kong for sightseeing due to the film, demonstrating the unlimited business opportunities of IP tourism. In this connection, will the Government inform this Council:
     
    (1) whether it has compiled statistics on the number of visitors attracted to Hong Kong by IP projects, cultural events and mega-events with local characteristics in the past three years, as well as their places of origin, length of stay in Hong Kong, and consumption amounts and patterns; if so, of the details; if not, the reasons for that, and whether it will consider compiling such statistics;
     
    (2) as some members of the industry and academics have pointed out that tourism projects dominated by a single IP are difficult to sustain, and that the long-term strategy should be linking up multiple IPs of the same type to create synergy effects (e.g. Hong Kong can explore combining the IP of “Twilight of the Warriors: Walled In” and those of a number of classic Hong Kong films to build a “Hong Kong version of Universal Studios”, with a view to maximising the cultural benefits of Hong Kong films), whether the Government has considered formulating a strategy to promote collaboration between different IP holders and the tourism industry; if so, of the details; if not, the reasons for that; and
     
    (3) whether the Government has formulated a dedicated strategy for IP tourism, such as strengthening the protection and promotion of existing distinctive IP projects and related attractions, and actively introducing measures to encourage and support IP creation and the development of related attractions; if so, of the details; if not, the reasons for that, and whether it will consider formulating relevant strategies?
     
    Reply:
     
    President,
     
    The current Government has established the Culture, Sports and Tourism Bureau (CSTB) to promote the integrated development of culture, sports and tourism. The Cultural and Creative Industries Development Agency (CCIDA) under the CSTB proactively strengthens its support towards the industrialisation development of the cultural and creative industries and provides a platform to foster cross-sectoral and cross-genre collaborations among cultural and creative sectors for cultural intellectual property (IP). We fully encourage industries such as catering, retailing and tourism to make use of the rich IP resources in Hong Kong to achieve synergy, attract tourists and explore business opportunities.
     
    My reply to the various parts of the question raised by the Hon Jeffrey Lam’s question, in consultation with the Intellectual Property Department (IPD), is as follows:
     
    There are a number of attractions in Hong Kong with local characteristics and tourism appeal, such as Victoria Harbour, the Hong Kong Disneyland Resort (HKDL), the Ocean Park (OP), the Peak Tram, the Hong Kong Ferris Wheel, Ngong Ping 360. They are also IPs with strong Hong Kong’s cultural characteristics. The CSTB and the Hong Kong Tourism Board (HKTB) have been striving to promote tourism by making good use of these cultural IPs and the international image of Hong Kong.
     
    In 2024, Hong Kong hosted over 240 mega events, attracting about two million visitors from mainly the Mainland and Southeast Asia region, and bringing a total spending of about HK$7.5 billion and added value of about HK$4.5 billion to the economy. Many of these mega events featured local characteristics and made good use of well-known IPs, such as the “100% DORAEMON & FRIENDS” Tour, Pokémon GO City Safari, PANDA GO! FEST HK, ComplexCon Hong Kong, Hypefest Hong Kong, Animation-Comic-Game Hong Kong (ACGHK), and “A Path to Glory – Jin Yong’s Centennial Memorial • The World of Wuxia”, etc. In 2025, we continue to welcome events filled with IP elements, such as “CHIIKAWA DAYS” Exhibition, the opening of CR7® LIFE Museum Hong Kong, ACGHK 2025, “Comic Fun for All: The Magic of Hong Kong Comedy Comics” showcasing various local comics and Hong Kong Fashion Fest.
     
    We have been making use of attractive IP-themed events to enrich visitors’ travel and entertainment experience and stimulate spending. The HKTB proactively collaborates with event organisers to provide all round support, including driving local tourism through events. For example, during “100% DORAEMON & FRIENDS” Tour, the HKTB partnered with the exhibition organiser to present “Anywhere Door” at ten tourist spots in Hong Kong, attracting visitors and locals to explore the city and take photos. The HKTB also collaborates with IPs in flagship events and integrates with signature IPs to further promote tourism. For example, in organising the Hong Kong International Dragon Boat Races in 2023 and 2024, the HKTB collaborated with the world’s popular IP, LINE FRIENDS, to set up LINE FRIENDS dragon boat photo spots along the Avenue of Stars to attract visitors and locals to take photos and enjoy the races. Both visitors and locals could also purchase Hong Kong-exclusive merchandise designed for the races during the event period. 
     
    In terms of tourism promotion through leveraging movie IPs, the HKTB collaborated with the movie producer and relevant units to launch a movie exhibition titled “Live out the Cinematic Charm of Hong Kong” Twilight of the Warriors: Walled In. The exhibition was first staged at the Hong Kong International Airport and then AIRSIDE at Kai Tak, Kowloon City. In parallel, merchandise vendors on site offered classic dishes, nostalgic toys and movie merchandise to create business opportunities. The CCIDA also organises the three-year “Kowloon Walled City: A Cinematic Journey” Movie Set Exhibition at the Kowloon Walled City Park, showcasing more movie sets and local traditional craftsmanship displays, recreating scenes of the Walled City. Over 42 000 locals and tourists were attracted in the first month since its opening in May this year, driving catering and retailing spending in the vicinity.
     
    In terms of theme parks, the HKDL, a landmark attraction with rich IP features, has been introducing various unique facilities and events to attract visitors, including the opening of the world’s first ever and largest Frozen-themed land, the new Marvel-themed area under planning, the 20th anniversary celebration and an all-new Pixar entertainment experience. On the other hand, the OP, capitalising on its advantage of being home to the largest number of giant pandas outside the Mainland, has created the giant pandas’ IPs according to the physical traits of the six giant pandas and launched giant panda-related promotional activities, merchandise, cultural and creative products, video games, tourism products, etc, with Hong Kong’s characteristics. In addition to the extensive use of the giant pandas’ IPs in OP’s social media content and merchandise, the OP will continue to make use of the relevant IP to launch giant panda-themed festive events, immersive experience activities, light shows, thematic performances, amusement facilities, etc, and partner with different organisations to promote the IPs.
     
    Separately, the CCIDA, through the CreateSmart Initiative (CSI), has funded and promoted various IP projects that integrate local animation and comic culture with tourism. These include the two-year AniCom Sports Park which showcases 36 locally created AniCom characters from different eras, each paired with a sports-themed design, such as “Old Master Q” with snooker, “Dragon Shik” with boxing and “My Boy” with table tennis, echoing the Olympic Games Paris and the National Games to promote the innovative experience of integrating culture, sports and tourism in Hong Kong. Since its launch in July 2024, the project has attracted about 460 000 locals tourists. The Hong Kong Avenue of Comic Stars, with the theme of local original comics, has drawn over three million visitors to date. The project was enhanced and updated in late 2024, now featuring 76 coloured figurines of local comic characters created by 100 artists, such as “Wang Xiao Hu”, “Hero Wah” and “MinBao Gor”, along with a 50-meter-long large-scale comic wall and interactive installations. In half a year, it attracted over 850 000 visitors with approximately 40 per cent of them being tourists. The annual mega event, the ACGHK, brings together comics and animation, mobile/computer games and art toy creations from Hong Kong, the Mainland and overseas, attracting about 250 000 tourists from the Mainland and overseas annually. The ACGHK 2025 will feature four projects, namely the Hong Kong International Art Toys Expo, the International Comic Artist Conference and Exhibition, the Comics Masters Gathering Hong Kong, and the Hong Kong Comics Support Programme Pavilion. Apart from showcasing over 100 art toys and comic works from Hong Kong, the Mainland and overseas, there will also be sharing sessions and workshops led by comic masters. The CCIDA will strengthen publicity in order to attract visitors from the Mainland and overseas.
     
    On upholding and strengthening IP protection, the Government continues to drive the development of local IP (including cultural IP), enhance the local IP regime, ensuring that it keeps abreast of the times, aligns with international trends, and meets Hong Kong’s economic needs, including the implementation of the Copyright (Amendment) Ordinance 2022 to strengthen copyright protection in the digital environment, and a comprehensive review of the local registered designs regime and plans to launch a public consultation within this year. A robust IP protection regime can foster the sustainable development of local cultural and creative industries, as well as help drive the growth of related industry chains, including tourism, thereby spurring the development of the economy. The CCIDA is also actively supporting cultural IP projects, including those related to tourism, through CSI, and driving applicants to make applications for IP protection for their cultural and creative products, formulate IP agreements and manage IP portfolios, etc, so as to assist creators in exploring business opportunities.
     
    The IPD advocates for the messages of respecting creativity and IP protection through producing and disseminating promotional materials and videos. At the same time, it is committed to implementing the “No Fakes Pledge” Scheme and the “I Pledge” Campaign to encourage the selling and buying of genuine goods among local retailers, tourists and consumers. The “No Fakes Pledge” Scheme has garnered widespread support from local businesses over the years, with an average annual participation of over 1 500 retail merchants and 7 000 outlets/online shops.
     
    The Government will continue to support IP creation, construction and cross-over through innovative thinking, combining with our edges in technology, animation and comics, the performing arts, film and television culture to attract more tourists to come to Hong Kong to experience the unique local cultural connotation. We also hope that the catering, retailing and tourism industries can make good use of IP projects to explore business opportunities and implement the concept of “tourism is everywhere in Hong Kong” together.
    Issued at HKT 14:22

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