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INDONESIA MUST ACCELERATE DELIVERY OF DIGITAL STRATEGY TO ACHIEVE GOVERNMENT’S “TOP 10 GLOBAL ECONOMY BY 2030” AMBITIONS, SAYS GSMA REPORT
The new report from the GSMA, published at its Indonesia Digital Nations Summit in Jakarta, evaluates Indonesia’s progress to becoming a digital nation and recommends action points to accelerate progress
JAKARTA, Indonesia, Dec. 8, 2023 /PRNewswire/ — The Indonesian government has made strong steps towards becoming a leading digital nation, according to a report published today at the GSMA’s Indonesia Digital Nations Summit in Jakarta. However, the country needs to adopt a “whole-government” approach and be more joined-up around critical policy requirements, if Indonesia is to achieve its goals of digitally transforming society and becoming a top 10 global economy by 2030.
By doing so, Indonesia stands to unlock circa $18 billion in investment from the mobile industry between 2024 and 2030, mostly on 5G networks. This, in turn, is expected to contribute $41 billion to GDP over the next six years.
As part of its key recommendations, the GSMA report, entitled “Forging a resilient digital nation: Proposals for Indonesia’s future”, analyses Indonesia’s journey to becoming a digital nation and recommends action points the government and industry must expedite to achieve this transition. Above all, the report outlines opportunities to improve and accelerate progress in each of the five pillars – Infrastructure, Innovation, Data Governance, Security and People – that will help it meet its ambition to becoming one of the world’s top digital nations.
Digital nations incorporate digital technologies and services into all sectors of the economy, with the aim to drive productivity and improve the livelihoods of citizens. 5G is a key component of the infrastructure required to power future digital nations, given its ability to deliver reliable network-based services and enable the emerging technology that will help to reshape the local economy and modernise industries.
Julian Gorman, Head of APAC at the GSMA, said: “While Indonesia has achieved notable success in its journey to become a digital nation, transforming the country’s digital ecosystem won’t be possible without the necessary investment from the private sector. To unlock this, a whole-government approach is needed to ensure the right measures are in place which encourage this, including incentivising infrastructure investment, simplifying sector-specific fees, and cutting red tape.”
Despite the country consisting of over 18,000 islands, Indonesia has achieved an expansive network of digital infrastructure with 96% of the population now covered by 4G networks. However, 5G mobile connectivity will be crucial to achieving new economic targets and investment will require “policy imperatives” to accelerate the rollout of 5G infrastructure, where it is needed the most. These recommendations include:
Ensuring sustainable investments in digital networks
The rollout of 5G is set to drive an increase in smartphone demand and data traffic. In Indonesia, shipments of 5G models grew 54% in Q3 2023 and accounted for 19% of the total. However, operators’ ability to expand network capacity and coverage is often hindered by regulatory constraints, market structures and excessive tax burdens. This has created an investment gap where market conditions for private investment in telecoms networks are not favourable enough to meet ambitious national and regional digital policy targets.
Therefore, the GSMA report calls on all parts of government to work together with industry stakeholders to:
- Encourage voluntary infrastructure sharing (passive and active) to reduce the cost of network rollout, particularly in difficult terrains.
- Reduce red tape for obtaining the necessary permits and right-of-way (RoW) for cell-site location and fibre deployment to ease network rollout, particularly 5G densification. For example, the amendment of RoW rules in India in 2022 has been credited for the rapid rollout of 5G and fibre infrastructure in the ensuing months.
- Reduce and simplify sector-specific taxes and fees (including tower taxes and tower building permission fees, and various fees imposed by municipal authorities) to ease the cost burden of network rollout and operations and ensure the financial sustainability of the mobile industry.
- Provide policy incentives to encourage investment in infrastructure. In South Korea, government incentives in the form of tax credits and tax reductions for operators announced in 2020 helped unlock investment of around KRW25.7 trillion ($22 billion) in 5G networks.
- Allow further consolidation in the telecoms sector to drive synergies and the scale required for expansive infrastructure rollout.
Achieving sustainable spectrum pricing
As recently warned by the GSMA, Indonesia also risks a $14 billion (IDR 216 trillion) productivity loss to its economy, unless it focused on ensuring future mobile spectrum prices are sustainable. It therefore recommends that:
- Reserve prices are set conservatively below estimates of market value to enable price discovery and reduce the risk of unsold spectrum.
- Government reviews the formula for calculating annual spectrum fees (BHP IPFR) and consider adjustments to the parameters to provide the right long-term incentives and avoid disproportionate increases in costs that are not aligned with evolving market conditions.
- A clear spectrum roadmap is laid-out that considers not only current bands being planned but also the longer term needs for Indonesia, especially for mid-bands in the 2025–2030 timeframe. Greater certainty around the availability of spectrum and associated conditions is crucial for operators to prepare investment plans, secure financing and develop strategies for network deployment and service delivery.
The Indonesia Digital Nations Summit
The report findings were published as the GSMA hosted its Indonesia Digital Nations Summit at The Westin Jakarta. To download the Indonesia Digital Nations report, please click here.
Indonesia has emerged as a key player in the global community, and the full-day event provided a platform to explore the country’s digital landscape in the context of its digital ambitions and cultivate engagement aimed at harnessing the potential of its digital ecosystem.
The GSMA welcomed a distinguished roster of speakers to the stage for several keynotes, fireside chats, and panel sessions on topics such as the vision for digital Indonesia, the role of telecoms networks in supporting its digital future, and the potential for 5G in the country.
About GSMA
The GSMA is a global organisation unifying the mobile ecosystem to discover, develop and deliver innovation foundational to positive business environments and societal change. Our vision is to unlock the full power of connectivity so that people, industry, and society thrive. Representing mobile operators and organisations across the mobile ecosystem and adjacent industries, the GSMA delivers for its members across three broad pillars: Connectivity for Good, Industry Services and Solutions, and Outreach. This activity includes advancing policy, tackling today’s biggest societal challenges, underpinning the technology and interoperability that make mobile work, and providing the world’s largest platform to convene the mobile ecosystem at the MWC and M360 series of events.
We invite you to find out more at gsma.com
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STOCKHOLM, April 5, 2024 /PRNewswire/ — EQT AB’s Q1 Announcement 2024 will be published on Thursday 18 April 2024 at approximately 07:30 CEST. EQT will host a conference call at 08:30 CEST to present the report, followed by a Q&A session.
The presentation and a video link for the webcast will be available here from the time of the publication of the Q1 Announcement.
To participate by phone and ask questions during the Q&A, please register here in advance. Upon registration, you will receive your personal dial-in details.
The webcast can be followed live here and a recording will be available afterwards.
Information on EQT AB’s financial reporting
The EQT AB Group has a long-term business model founded on a promise to its fund investors to invest capital, drive value creation and create consistent attractive returns over a 5 to 10-year horizon. The Group’s financial model is primarily affected by the size of its fee-generating assets under management, the performance of the EQT funds and its ability to recruit and retain top talent.
The Group operates in a market driven by long-term trends and thus believes quarterly financial statements are less relevant for investors. However, in order to provide the market with relevant and suitable information about the Group’s development, EQT publishes quarterly announcements with key operating numbers that are relevant for the business performance (taking Nasdaq’s guidance note for preparing interim management statements into consideration). In addition, a half-year report and a year-end report including financial statements and further information relevant for investors is published. Finally, EQT also publishes an annual report including sustainability reporting.
Contact
Olof Svensson, Head of Shareholder Relations, +46 72 989 09 15
EQT Shareholder Relations, [email protected]
Rickard Buch, Head of Corporate Communications, +46 72 989 09 11
EQT Press Office, [email protected], +46 8 506 55 334
This information was brought to you by Cision http://news.cision.com
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- Kia drives forward transformation into ‘Sustainable Mobility Solutions Provider’
- Roadmap enables Kia to proactively respond to uncertainties in mobility industry landscape, including changes in EV market
- Company to expand EV line-up with more models; enhance HEV line-up to manage fluctuation in EV demand
- Goal to sell 1.6 million EVs annually in 2030, introducing 15 models
- PBV to play a key role in Kia’s growth, targeting 250,000 PBV sales annually by 2030 with PV5 and PV7 models
- Kia to invest KRW 38 trillion by 2028, including KRW 15 trillion for future business
- 2024 business guidance : KRW 101 tln in revenue with KRW 12 tln in operating profit; operating profit margin of 11.9% on sales of 3.2 million units globally
- CEO reaffirms Kia’s commitment to ESG management
SEOUL, South Korea, April 5, 2024 /PRNewswire/ — Kia Corporation (Kia) today shared an update on its future strategies and financial targets at its CEO Investor Day in Seoul, Korea.
Based on its innovative achievements in the years since the announcement of mid-to-long-term business initiatives, Kia is focusing on updating its 2030 strategy announced last year and further strengthening its business strategy in response to uncertainties across the global mobility industry landscape.
During the event, Kia updated its mid-to-long-term business strategy with a focus on electrification, and its PBV business. Kia reiterated its 2030 annual sales target of 4.3 million units, including 1.6 million units of electric vehicles (EVs). The 2030 4.3 million annual sales target is 34.4 percent higher than the brand’s 2024 annual goal of 3.2 million units.
The company also plans to become a leading EV brand by selling a higher percentage of electrified models among its total sales, including hybrid electric vehicles (HEV), plug-in hybrid (PHEV), and battery EVs, projecting electrified model sales of 2.48 million units annually or 58 percent of Kia’s total sales in 2030.
“Following our successful brand relaunch in 2021, Kia is enhancing its global business strategy to further the establishment of an innovative EV line-up and accelerate the company’s transition to a sustainable mobility solutions provider,” said Ho Sung Song, President and CEO of Kia. “By responding effectively to changes in the mobility market and efficiently implementing mid-to-long-term strategies, Kia is strengthening its brand commitment to the wellbeing of customers, communities, the global society, and the environment.”
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VANCOUVER, BC, April 4, 2024 /PRNewswire/ — BioVaxys Technology Corp. (CSE: BIOV) (FRA: 5LB) (OTCQB: BVAXF) (the “Company“) is providing this bi-weekly update on the status of the management cease trade order granted on February 29, 2024 (the “MCTO“), by its principal regulator, the Ontario Securities Commission (the “OSC“), under National Policy 12-203 – Management Cease Trade Orders (“NP 12-203“), following the Company’s announcement on February 21, 2024 (the “Default Announcement“), that it was unable to file its audited annual financial statements for the year ended October 31, 2023, its management’s discussion and analysis of financial statements for the year ended October 31, 2023, its annual information form for the year ended October 31, 2023, and related filings (collectively, the “Required Annual Filings“). Under National Instrument 51-102, the Required Annual Filings were required to be made no later than February 28, 2024.
As a result of the delay in filing the Required Annual Filings, the Company was unable to file its interim financial statements for the three months ended January 31, 2024, its management’s discussion and analysis of financial statements for the three months ended January 31, 2024, and related filings (collectively, the “Required Interim Filings“). Under National Instrument 51-102, the Required Interim Filings were required to be made no later than April 1, 2024.
The Company anticipates filing the Required Annual Filings by April 30, 2024. The auditor of the Company requires additional time to complete its audit of the Company, including the Company’s recent acquisition of all intellectual property, immunotherapeutics platform technologies, and clinical stage assets of the former IMV Inc. that closed on February 16, 2024. In addition, the Company anticipates filing the Required Interim Filings immediately after the filing of the Required Annual Filings.
Except as herein disclosed, there are no material changes to the information contained in the Default Announcement. In addition, (i) the Company is satisfying and confirms that it intends to continue to satisfy the provisions of the alternative information guidelines under NP 12-203 and issue bi-weekly default status reports for so long as the delay in filing the Required Annual Filings and/or Required Interim Filings is continuing, each of which will be issued in the form of a press release; (ii) the Company does not have any information at this time regarding any anticipated specified default subsequent to the default in filing the Required Annual Filings and Required Interim Filings; (iii) the Company is not subject to any insolvency proceedings; and (iv) there is no material information concerning the affairs of the Company that has not been generally disclosed.
About BioVaxys Technology Corp.
BioVaxys Technology Corp. (www.biovaxys.com), a biopharmaceuticals company registered in British Columbia, Canada, is a clinical-stage biopharmaceutical company dedicated to improving patient lives with novel immunotherapies based on the DPX™ immune-educating technology platform and it’s HapTenix© ‘neoantigen’ tumor cell construct platform, for treating cancers, infectious disease, antigen desensitization, and other immunological fields. The Company’s clinical stage pipeline includes maveropepimut-S which is in Phase II clinical development for advanced Relapsed-Refractory Diffuse Large B Cell Lymphoma (DLBCL) and platinum resistant ovarian cancer, and BVX-0918, a personalized immunotherapeutic vaccine using it proprietary HapTenix© ‘neoantigen’ tumor cell construct platform which is soon to enter Phase I in Spain for treating refractive late-stage ovarian cancer. The Company is also capitalizing on its tumor immunology know-how and creation of a unique library of T-lymphocytes & other datasets post-vaccination with its personalized immunotherapeutic vaccines to utilize predictive algorithms and other technologies to identify new targetable tumor antigens. BioVaxys common shares are listed on the CSE under the stock symbol “BIOV” and trade on the Frankfurt Bourse (FRA: 5LB) and in the US (OTCQB: BVAXF). For more information, visit www.biovaxys.com and connect with us on X and LinkedIn.
ON BEHALF OF THE BOARD
Signed “James Passin“
James Passin, Chief Executive Officer
Phone: +1 646 452 7054
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