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<\/p>\nDear Valued Customers,<\/p>\n
<\/p>\n
Hello and welcome to the June edition of our 3E Accounting newsletter! We\u2019re finally at the halfway mark of the year and this month, like every month before this, has been packed with updates that you\u2019ll find relevant as a business (or potential business) entrepreneur looking to make your mark in this region. Let\u2019s dive into what\u2019s new and noteworthy this June.<\/p>\n
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Work Permit Holders and Employers in Singapore Enjoy Greater Flexibility<\/strong><\/p>\n Major changes have been introduced to Singapore\u2019s work permit system, and this will provide greater flexibility to the local workforce. The shift will mean that permit holders can stay in the country for longer. Instead of being limited to 14 to 26 years based on their skill level and country of origin, permit holders can work until the retirement age of 63.<\/p>\n With this change, Singapore\u2019s employers will have greater flexibility in managing work permit holders. In doing so, they\u2019ll have greater retention ability over their experienced staff and reduce the cost of training new workers. This move has been welcomed with open arms across manufacturing, services, and process industries. This is particularly important for industries like electronics, aerospace, and medical technology, where highly skilled manual work is needed and local workers are hard to find.<\/p>\n <\/p>\n Malaysia\u2019s Tourist Levels in 2025 Will Surpass Its Pre-Pandemic Levels<\/strong><\/p>\n Tourist arrivals in Malaysia<\/a> are expected to fully recover by 2025. This will potentially surpass its numbers recorded before the COVID-19 pandemic. Thanks to the substantial influx of visitors from Asia-Pacific, North America, and Europe, Malaysia is on the road to recovery.<\/p>\n Tourism hotspots like Kuala Lumpur, Langkawi, and Penang are experiencing a welcome surge in international visitors eager to explore Malaysia\u2019s rich culture, natural beauty, and food scene. Countries like China, India, and others in Southeast Asia are playing a key role in this growth, helping push the country\u2019s tourist arrivals closer to\u2014and beyond\u20142019 levels. With international travel steadily returning to normal, Malaysia is benefiting from relaxed restrictions, the reopening of global flight routes, and targeted tourism campaigns. Looks like Malaysia has just jumped to the head of the queue if you\u2019re thinking about starting a business here this year.<\/p>\n <\/p>\n Hong Kong Organises Online Job Fair to Connect Global Talent with More Than 700 Opportunities<\/strong><\/p>\n Hong Kong\u2019s been keeping busy with its two-day online job fair<\/a> that was hosted recently in the hopes of attracting international professionals from several fields. More than 700 vacancies from several sectors were advertised, and this online event recorded an incredible 26,000 visits and received approximately 3,000 curriculum vitae. The fair featured several one-on-one online meeting sessions, resulting in approximately 4,800 direct dialogues between job seekers and employers.<\/p>\n Participating companies noted that nearly half of these interactions are expected to progress further. The online platform enabled international professionals to gain insights into Hong Kong\u2019s employment processes and landscape, including company structures and recruitment processes. What an incredible start to June!<\/p>\n <\/p>\n Indonesia\u2019s Joint AI Hub and Smart City Projects Strengthen Its Digital Partnership with China<\/strong><\/p>\n Indonesia and China are deepening their ties in digital collaboration by focusing on AI connection and the development of smart cities through its AI Hub and Smart City Projects<\/a>. The two countries are determined to lay the groundwork for a potential AI innovation hub in ASEAN. The two countries are determined to lay the groundwork for a potential AI innovation hub in ASEAN.<\/p>\n Indonesia and China are deepening their ties in digital collaboration. Their first mission? To start focusing on AI connection and the development of smart cities. The two countries are determined to lay the groundwork for a potential AI innovation hub in ASEAN.<\/p>\n Indonesia\u2019s collaboration with China is the largest in digital infrastructure, helping expand 4G and 5G connectivity in remote areas. It aligns with Indonesia\u2019s goal to train nine million AI specialists by 2030, with support from its partners like China.<\/p>\n With all this excitement in the month of June alone, we can’t\u2019 wait to see what the next few months bring as we make our way towards the end of the year.<\/p>\n Thank you.<\/p>\n <\/p>\n
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