Economy

Russia-Ukraine Conflict Changing African Business with Europe

Published

3 years ago

03/03/2022

By Kester Kenn Klomegah

Russia has evaded neighbouring Ukraine located in Eastern Europe. As one of the former Soviet republics looking to climb onto the global stage and steadfastly develop the future, it, therefore, sets ambition to join the North Atlantic Treaty Organization (NATO) and the European Union (EU).

On the other hand, these two directions of its ambitions have angered Russia. As already known, Ukraine is in Eastern Europe and shares a border with Russia. It used to be part of the Soviet Union but became an independent country in 1991.

Under the directorship of Russian President Vladimir Putin, and approved by the both Federal Council and the State Duma, the Russian collective made the decision to hold a special military operation in response to the address of leaders of Donbass and Luhansk republics, both in eastern Ukraine.

Putin launched the “special military operation” repeating a number of unfounded claims, alleging that Ukraine’s democratically elected government had been responsible for eight years of genocide.

Putin feverishly seeks to demilitarize and denazify Ukraine. As a result of the waging war on Ukraine, Russia has to suffer from a raft of sanctions imposed by various foreign countries including the United States, Canada, Britain, the European Union and down to Australia. The results of the waging war on Ukraine.

The longer-term economic consequences for the rest of the world will be far less severe than they are for Russia, but they will still be a persistent challenge for policymakers, noted Jason Furman, a former chair of U.S. President Barack Obama’s Council of Economic Advisers.

He wrote in his opinion article published by Project Syndicate: “The medium- and long-term consequences for the global economy of Russia’s military operation in Ukraine will depend on choices. By launching the operation, Russia has already made one terrible choice.”

While the sanctions take their bites and associated snow-balling effects, it has opened huge significant potential opportunities for a number of African countries. In the first place, researchers at Oxford Economics Africa believe that Russia’s invasion of Ukraine could increase wheat prices in Angola and Mozambique, but the rise in oil and gas prices benefits the finances of these two African countries.

“Both Angola and Mozambique have a very limited level of trade with Russia and Ukraine; Angola imports wheat and yeast from Russia, while Mozambique imports a significant amount of wheat and a small amount of refined oil from Russia,” Oxford Economics Africa analyst who follows these two African economies told Mozambique News Agency.

“It appears that, at least for now, Angola is generally benefiting from higher oil and gas prices, which are partially driven by the conflict,” Gerrit van Rooyen said in remarks from Paarl, South Africa. Higher oil prices are positive for government revenues,” the analyst added. If the rise is sustained, “this could increase investment in Angola and lower debt levels faster than previously anticipated.”

“If gas prices remain high due to the conflict, this will be positive for investments in Mozambique’s liquefied natural gas [LNG],” his analysis continues, since “the profits from the natural gas in the Rovuma basin could be greater than the risk of armed extremist insurgency in the region.”

Despite the benefits for the public accounts of the two Portuguese-speaking states, van Rooyen points out that, for the average citizen, the disadvantages outweigh the advantages. Higher oil and wheat prices could be bad news for consumers, as inflation, which is already high in these countries, particularly in Angola and it is, however, expected to increase more than initially expected.

Monitoring media reports have indicated that a few oil and gas producing African countries have the possibility, if well-exploited, to supply Europe. For example, Algeria’s state energy firm is ready to supply Europe with more gas in view of a possible decline due to the Russian invasion of Ukraine.

Sonatrach CEO Toufik Hakkar said the firm was ready to pump additional gas to the EU from its surplus via the Transmed pipeline linking Algeria to Italy. Sonatrach is “a reliable gas supplier for the European market and is willing to support its long-term partners in the event of difficult situations,” Hakkar said and was reported by the daily Liberte.

Hakkar nonetheless said this would be contingent on the availability of a surplus of gas or liquified natural gas [LNG], but have to fix its “contractual engagements” with the importing partner for the supplies to the European market.

Nonetheless, Algeria could only compensate for the decline in Russian gas supply by offering a maximum of two or three million additional cubic meters. Algeria plans to develop new reserves of shale gas. In January, Sonatrach said it would invest US$40 billion into oil exploration, production and refinement, as well as gas prospecting and extraction, between 2022 and 2026.

Arguments whether Africans can take advantage to increase their business, especially in oil and gas, are still varied. “For Africa, it’s again, it’s an opportunity, it presents that window of opportunity for African countries to see how they can increase their production capacity and meet the need of global demands of crude oil,” says Isaac Botti, a public finance expert told Voice of America.

However, Africa’s production combined accounts for less than a tenth of total global output. Nigeria is Africa’s largest producer of oil followed by Libya. Other notable producers are Algeria and Angola.

Algerian state-owned oil and gas giant said it would supply Europe if Russian exports dwindled as a result of the crisis, Botti noted and added that it’s a good example for other African nations. “We need to develop our capacity to produce locally, we need to look at various trade agreements that are existing,” he said.

For years African oil producers including Nigeria have been struggling to meet required daily output levels. Many experts, including Botti, worry strongly that African producers may struggle to fit into the big market with increasing global demands for crude oil.

Instead of African business to the United States and Europe, some researchers and experts have shown concern about the level of impact of the Russia-Ukraine conflict on Africa. Admittedly, they noted in their separate discussions that the war in Ukraine could further push oil prices up and increase inflation in Africa.

From an African agriculture perspective, the impact of the war will be felt in the near term through the global agriculture commodity prices channel. A rise in prices will be beneficial for farmers, especially for grain and oilseed farmers, the surge in prices presents an opportunity for financial gains.

In his research analysis, Wandile Sihlobo, Senior Fellow at the Department of Agricultural Economics, Stellenbosch University, wrote that some countries on the continent, such as South Africa, benefit from exporting fruit to Russia. In 2020 Russia accounted for 7% of South Africa’s citrus exports in value terms. And it accounted for 12% of South Africa’s apples and pears exports in the same year – the countries’ second-largest market.

But from Africa’s perspective, Russia and Ukraine’s agricultural imports from the continent are marginal – averaging only US$1,6 billion – in the past three years. The dominant products are fruits, tobacco, coffee, and beverages in both countries. Every agricultural role-player is keeping an eye on the developments in the Black Sea region. The impact will be felt in other regions, such as the Middle East and Asia, which also import a substantial volume of grains and oilseeds from Ukraine and Russia. They too will be directly affected by the disruption in trade, according to Sihlobo.

There is still a lot that’s not known about the geopolitical challenges that lie ahead. But for African countries, there are reasons to be worried given their dependency on grains imports. In the near term, countries are likely to see the impact through a surge in prices, rather than an actual shortage of the commodities. Other wheat exporting countries such as Canada, Australia and the US stand to benefit from any potential near term surge in demand.

“The last time we had a windfall from oil prices related to war was in 1991, during the Gulf War. We know it will directly impact the price of crude oil. The revenue may increase, but since we have shifted oil investment to multinational companies, they are more likely to reap greater revenues than the country itself.” Professor Abdul-Ganiyu Garba of the Department of Economics Ahmadu Bello University Zaria said.

“If there is an increase in crude oil prices, it means inflation will grow globally, the cost of most of our imports will also rise, which will transfer to the domestic crisis,” the Nigerian economist added. Commodity prices have skyrocketed in many African countries, making life more challenging for millions of people.

“People start starving once these countries fight because they [global powers] presented themselves to African countries as mother countries,” Dox Deezol, a South African entrepreneur and artist in Johannesburg, told DW.

As a member of BRICS [Brazil, Russia, India, China, South Africa] — the world’s five emerging economies — South Africa was relatively silent when Russia annexed Crimea in 2014. However, the South African government has urged restraint this time.

“South Africa is integrated into the global economy. So the war’s impact on the global economy, as we have seen in the soaring prices of oil and energy generally, will affect South Africa because when the world sneezes, South Africa catches a cold,” Professor Siphamandla Zondi, an international relations expert and head of BRICS studies at the University of Johannesburg, told DW.

It’s not just the oil prices that could impact Africa. For example, there is significant agricultural trade between African countries and Russia and Ukraine. Some say Africa’s trade with Russia and Ukraine could also be at stake. In 2020, African countries imported agricultural products worth US$4 billion from Russia. Wheat accounted for approximately 90% of these imports. Egypt was the largest importer, followed by Sudan, Nigeria, Tanzania, Algeria, Kenya, and South Africa.

Similarly, Ukraine exported agricultural products worth US$2.9 billion to Africa in 2020. Wheat accounted for roughly 48% of this, maize 31%, and sunflower oil, barley, and soybeans accounted for the remainder. The ongoing war could affect supply chains and raise the cost of imports. It is also unclear what effect the sanctions imposed by the US and its allies on Russia will have on Africa-Russia trade relations.

The repercussions of the conflict are readily felt in other economic sectors. Media reports indicated tourism and aviation business are also negatively affected. In terms of education and training, many African governments, ministries and departments struggle to evacuate their students and nationals from war-torn Ukraine. From basic research for this article, Ukraine has emerged as a choice destination for African students, especially in the fields of medicine and engineering.

According to Ukraine’s Ministry of Education and Science, some 180,000 international students study in Ukraine with the largest number from India, followed by Morocco, Azerbaijan, Turkmenistan, Egypt, Nigeria, South Africa, Tanzania, Zimbabwe and Ghana. The fact is that Africa remains deeply concerned over the escalation of the conflict in Ukraine. Nearly all African foreign ministries have expressed their deepest displeasure over the violation of the territorial integrity of Ukraine and categorically blamed Russia for creating instability in the world.

While looking the future African business to the United States, Europe and Asia, the current Chair of the African Union and President of Senegal, Macky Sall, and the Chairperson of the African Union Commission, Moussa Faki Mahamat, have expressed their extreme concern at the dangerous situation created in Ukraine. They called on the Russian Federation and any other regional or international actor to respect international law, the territorial integrity and the national sovereignty of Ukraine.

The Chair of the African Union and the Chairperson of the African Union Commission urged Russia and Ukraine to establish an immediate ceasefire and to open political negotiations without much delay. It should be under the auspices of the United Nations, in order to preserve the world from the consequences of planetary conflict, and in the interests of peace and stability in international relations in service of all the peoples of the world. Some tough actions are still expected from the Security Council of the United Nations.

Related Topics:African Business with Europe Russia-Ukraine conflict

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Economy

Hong Kong Design Centre’s New Landmark ‘DX design hub’ Holds Launching Party

Published

7 hours ago

04/12/2024

Adedapo Adesanya

Opens to the Public on December 4 Sparking Inspiration With a Line-up of Design Events

HONG KONG SAR – Media OutReach Newswire – 4 December 2024 – Hong Kong Design Centre’s (HKDC) new landmark, DX design hub (the Hub) successfully concluded its Launching Party today. The celebratory event was attended by guests comprising of top government officials, business leaders and Mainland and France delegations. The Cultural and Creative Industries Development Agency (CCIDA) of the Government of the Hong Kong Special Administrative Region is responsible for strategy formulation, coordination, and supervision of the Hub while HKDC is responsible for operating the Hub.

To ensure the success of the DX design hub launching party, all partners have played pivotal roles, including the Lead Sponsor, CCIDA; Venue Partner, Urban Renewal Authority; 5G Strategic Partner, Hutchison Telecommunications Hong Kong Holdings Limited; Media Partner, Timeout; Online Promotion Partner, Timable; and Strategic Lifestyle Media Partner, Trip.com Group.

Prof. Eric Yim, Chairman of HKDC shared: “The ‘D’ in DX design hub stands for design and diversified design disciplines, while ‘X’ signifies ‘multiply’ and ‘crossover’. The launch of DX design hub is an important milestone for Hong Kong Design Centre. We hope that through DX design hub, we can foster communications and collaborative partnerships across the various creative and design fields, as well as between the wider creative design industry and the business sector. This will enrich Hong Kong’s creative culture, and encourage problem-solving and decision-making through design thinking, thereby amplifying the power and ubiquity of design throughout our society. DX design hub will create a space for everyone to immerse themselves in design and creativity, and offer emerging designers and creative workers opportunities for development and showcasing their talents.”

Mr. Kevin Yeung Yun-hung, GBS, JP, Secretary for Culture, Sports and Tourism, shared: ‘We hope that DX design hub would become a creative anchor and tourist landmark in Hong Kong, bringing new vitality into the city’s design and fashion industries. With the release of Blueprint for Arts and Culture and Creative Industries Development from HKSAR government last weeke, stting a clear vision and direction for the future development of cultural arts and creative industries in Hong Kong, We look forward to Hong Kong Design Centre continuing to support the HKSAR government to promote the robust development and industrialisation of the creative sector, further enhancing the influence of Hong Kong’s design and fashion industries on the international stage, and consolidating Hong Kong’s role East-meets-West centre for international cultural exchange.’

Industry Associations and Sectors Join Hands to Foster Innovation and Exchange

At the launching event, HKDC is delighted to announce a momentous step towards enhanced industry collaborations through the DX design hub by signing the Memorandum of Understanding (MOU) with different industry associations and sectors, signifying a commitment to foster innovation, exchange, and development within the design community.

Among the signatories are distinguished organizations such as ECI Awards, Graphic Arts Association of Hong Kong, Golden Mouse Award, Guangzhou Baiyun District Guangzhou Design Capital Promotion Association, Guangzhou 4A Integrated Marketing Communication Committee, Hong Kong Architecture Centre, Hong Kong Association for VR AR, Hong Kong Chamber of Commerce in Shanghai, Hong Kong Fashion Designers Association, Hong Kong Furniture and Decoration Trade Association, International eXperience Design Committee, Royal Institute of British Architects (Hong Kong Chapter), The Professional Validation Council of Hong Kong Industries, Textile Council Of Hong Kong, and Trip.com Group, all of whom have also joined this collaboration.

A New Design Landmark in Sham Shui Po

As a hub for both design talents and general public, DX design hub shoulders the important task of inspiring design creativity. Its design and ethos honours the rich and multicultural heritage of the Sham Shui Po district as a traditional hotspot for clothing and textile wholesale and retail. It aims to inject positive momentum into the fashion and creative design industries by striving towards three main objectives: nurture emerging design talent and fashion designers in Hong Kong; leverage Sham Shui Po’s heritage to become a focal point for design and fashion both within the district and throughout the city; and further the development of tourism in Sham Shui Po.

Located at 280 Tung Chau Street, Sham Shui Po, the Hub spans five levels from the ground floor to the fourth floor and occupies a total area of 3,600 square meters. The fourth floor will serve as the headquarters for HKDC, while the ground floor to the second floor comprise the publicly accessible zones: The Square, The Fashion-Pop, The Gallery, The Box, The Design Museum, The Annex and The Steps. Designated zones on the third floor, including The Lounge, The Barn, and The Fashion Spotlight will function as a comprehensive resource centre for the design community. The wide-ranging facilities in the Hub will support a diverse programme of transdisciplinary design-related activities such as exhibitions, workshops and seminars. These facilities aim to make design more accessible to the public, facilitate communications and resource sharing within the design and creative sectors, and cultivate creative and collaborative opportunities for society at large.

Opening to the public on 4 December, the Hub will be kicking off numerous design-related programmes from the time being to next year. Its key programme, the ‘GBA Creative Fortnight‘, will take place from 3 to 16 December, a two-week long event dedicated to amplifying Hong Kong’s design prowess and sparking collaborations throughout the Guangdong-Hong Kong-Macao Greater Bay Area, with exhibitions, product showcases, fashion shows, design business matchmaking events, and a host of other engaging activities. Together with the opening of the Business of Design Week 2024 Summit on 4 December, alongside a series of design-related activities organized by the HKDC throughout December, a vibrant atmosphere of creativity and design will be brought to the city of Hong Kong.

Besides the GBA Creative Fortnight, other upcoming events taking place at the Hub include:

Permanent Exhibition：Hong Kong Design Ecology

Date: Launching from 3 December 2024

An exhibition presents the unique, diverse, and vibrant facets of Sham Shui Po, co-created with artists, students, and community members

Fashion Exhibition: Takuma Fujisaki’s Mogols: Hong Kong Fashion Collaboration with FIP & DIP

Date: 7 December 2024 to 6 March 2025

A collaborative exhibition between acclaimed Japanese pop culture artist Takuma Fujisaki’s beloved Mogol characters, and 12 FDIP local Hong Kong fashion designers.

Immersive Experience: Convergence

Date: 3 December 2024 – 28 February 2025

An exhibition offering visitors a visual journey into the hybrid design culture and design legacy of Hong Kong and Asia, where ‘Old meets New,’ ‘East meets West,’ and ‘Future influenced by legacy’.

Design Exhibition: Design Pulse Asia

Date: 13 December 2024 to 30 June 2025

A half-year-long exhibition delves into the unique heritages, diverse trajectories, and cultural exchanges shaping Asia’s design landscape.

Creative Installation: BEing

Date：3 December 2024 – 30 April 2025

The exhibition showcases the unique, diverse, and vibrant aspects of Sham Shui Po, emphasizing community participation by inviting artists, students, and residents to collaborate in the creation process.

Visitor Information

Opening Hours:

Monday to Sunday: 10:00 – 19:00

Operating hours may vary for some venues due to special events. Please check with each venue for the most up-to-date information.

Location:

DX design hub
280 Tung Chau Street, Sham Shui Po

Hashtag: #HongKongDesignCentre

The issuer is solely responsible for the content of this announcement.

About DX design hub

Operated by Hong Kong Design Centre, DX design hub in Sham Shui Po nurtures emerging design talents and fashion designers, fostering creativity and collaboration. Showcasing the synergy between design disciplines, it serves as a vibrant platform for community engagement and creative tourism. The Hub offers exhibition spaces, activity spaces, and a retail area for designers to gain hands-on experience. It functions as a central workstation for HKDC and design-related Associations, leading initiatives to promote fashion and diverse design projects. With a mission to inspire creativity and innovation, we aim to enable the Hub to become the creative anchor in Hong Kong with various specialized zones including The Square, The Fashion-Pop, The Box, The Gallery, The Design Museum, The Annex, The Steps, The Lounge, The Barn and The Fashion Spotlight.

The construction work of the Hub is undertaken by the Urban Renewal Authority (URA), ensuring a state-of-the-art facility that supports our vision. The Cultural and Creative Industries Development Agency of the Government of the Hong Kong Special Administrative Region is responsible for strategy formulation, coordination, and supervision, guiding the Hub’s initiatives to align with industry needs and aspirations.

About Hong Kong Design Centre (www.hkdesigncentre.org)

Hong Kong Design Centre is a strategic partner of the Government of the Hong Kong Special Administrative Region in leveraging the city’s East-meets-West advantage to create value from design.

To achieve our goals we:

Cultivate a design culture
Bridge stakeholders to opportunities that unleash the value of design
Promote excellence in various design disciplines

About Cultural and Creative Industries Development Agency (www.ccidahk.gov.hk)

The Cultural and Creative Industries Development Agency (CCIDA) established in June 2024, formerly known as Create Hong Kong (CreateHK), is a dedicated office set up by the Government of the Hong Kong Special Administrative Region (HKSAR Government) under the Culture, Sports and Tourism Bureau to provide one-stop services and support to the cultural and creative industries with a mission to foster a conducive environment in Hong Kong to facilitate the development of arts, culture and creative sectors as industries. Its strategic foci are nurturing talent and facilitating startups, exploring markets, promoting cross-sectoral and cross-genre collaboration, promoting the development of arts, culture and creative sectors as industries under the industry-oriented principle, and promoting Hong Kong as Asia’s creative capital and fostering a creative atmosphere in the community to implement Hong Kong’s positioning as the East meets-West centre for international cultural exchange under the National 14th Five-Year Plan.

Disclaimer: The Government of the Hong Kong Special Administrative Region provides funding support to some of HKDC’s activities/projects only, and does not otherwise take part in such funded activities/projects. Any opinions, findings, conclusions or recommendations expressed in this publication and relevant materials/events (or by members of the project teams) are those of HKDC only and do not reflect the views of the Government of the Hong Kong Special Administrative Region, the Culture, Sports and Tourism Bureau, the Cultural and Creative Industries Development Agency, the CreateSmart Initiative Secretariat or the CreateSmart Initiative Vetting Committee.

Economy

Hong Kong Design Centre’s New Landmark ‘DX design hub’ Holds Launching Party

Published

7 hours ago

04/12/2024

Adedapo Adesanya

Opens to the Public on December 4 Sparking Inspiration With a Line-up of Design Events

Industry Associations and Sectors Join Hands to Foster Innovation and Exchange

A New Design Landmark in Sham Shui Po

Besides the GBA Creative Fortnight, other upcoming events taking place at the Hub include:

Permanent Exhibition：Hong Kong Design Ecology

Date: Launching from 3 December 2024

An exhibition presents the unique, diverse, and vibrant facets of Sham Shui Po, co-created with artists, students, and community members

Fashion Exhibition: Takuma Fujisaki’s Mogols: Hong Kong Fashion Collaboration with FIP & DIP

Date: 7 December 2024 to 6 March 2025

A collaborative exhibition between acclaimed Japanese pop culture artist Takuma Fujisaki’s beloved Mogol characters, and 12 FDIP local Hong Kong fashion designers.

Immersive Experience: Convergence

Date: 3 December 2024 – 28 February 2025

Design Exhibition: Design Pulse Asia

Date: 13 December 2024 to 30 June 2025

A half-year-long exhibition delves into the unique heritages, diverse trajectories, and cultural exchanges shaping Asia’s design landscape.

Creative Installation: BEing

Date：3 December 2024 – 30 April 2025

Visitor Information

Opening Hours:

Monday to Sunday: 10:00 – 19:00

Operating hours may vary for some venues due to special events. Please check with each venue for the most up-to-date information.

Location:

DX design hub
280 Tung Chau Street, Sham Shui Po

Hashtag: #HongKongDesignCentre

The issuer is solely responsible for the content of this announcement.

About DX design hub

About Hong Kong Design Centre (www.hkdesigncentre.org)

Hong Kong Design Centre is a strategic partner of the Government of the Hong Kong Special Administrative Region in leveraging the city’s East-meets-West advantage to create value from design.

To achieve our goals we:

Cultivate a design culture
Bridge stakeholders to opportunities that unleash the value of design
Promote excellence in various design disciplines

About Cultural and Creative Industries Development Agency (www.ccidahk.gov.hk)

Economy

IMDA Refreshes Skills Framework for Media and Continues to Support Virtual Production Capabilities and Training

Published

7 hours ago

04/12/2024

Adedapo Adesanya

– Developed in consultation with industry, refreshed Skills Framework for Media introduces new technical skills and competencies for emerging technologies like virtual production and generative artificial intelligence.
– New company-led apprenticeship programme with media companies to expand job and training opportunities in the industry
– 28 Virtual Production projects supported, and 650 media professionals trained to date under the Virtual Production Innovation fund

SINGAPORE – Media OutReach Newswire – 4 December 2024 – The Infocomm Media Development Authority (IMDA) has worked closely with the media industry to introduce a refresh to the Skills Framework for Media, which will provide up-to-date sector information, job roles and existing and emerging skills for media practitioner, in new tech areas such as Virtual Production (VP) and Generative Artificial Intelligence (GenAI). To provide locals with more job and training opportunities in new tech areas, another new initiative is the company-led apprenticeship programme with media companies.

2. IMDA has been advancing VP applications in Singapore’s media industry since 2023. To date, there have been 28 VP content projects, and 650 media professionals trained in VP through these content projects and workshops, supported by the S$30 million VP Innovation Fund announced last year. These updates were made by Singapore’s Senior Minister of State for Digital Development and Information (MDDI) & Ministry of National Development (MND), Mr Tan Kiat How at the opening of the Asia TV Forum and Market (ATF) today, an event of the Singapore Media Festival (SMF). Hosted by IMDA, the SMF celebrates its 11th edition with the theme “Make It Here“, inspiring the region’s media community to create, connect, and realise their visions.

Refreshed Guide for the Future of Media Careers
3. As Singapore’s media market expands, employment opportunities are also on the rise. There were 24,960 media professionals employed across the economy in 2023, reflecting a compound annual growth rate of 7% since 2018^[1]. The refreshed Skills Framework for Media provides a comprehensive roadmap for these media professionals, charting the future of media careers and talent development. This framework was developed by IMDA in partnership with SkillsFuture Singapore (SSG), industry associations like the Singapore Association of Motion Picture Professionals, Institutions of Higher Learning (IHLs), after extensive consultation with around 150 media representatives across industry, training providers, IHLs and freelancers. This ensures the framework meets the needs of a dynamic media landscape.

4. The refreshed Skills Framework identifies 195 job roles across 9 tracks, with 230 technical skills and competencies in existing and emerging skills in Media like VP, GenAI, content production, production technical services, and more. Media practitioners can use the Skills Framework to upskill and remain relevant in today’s media landscape, while employers and training providers can tap on it to structure learning and training opportunities. The framework was first launched in 2018 jointly by IMDA, SSG, Workforce Singapore (WSG) and in consultation with Singapore’s media industry.

5. IMDA will also offer more company-led on-the-job training opportunities through apprenticeships with media companies in line with the new skills added into the refreshed framework including VP. This is a new initiative and, as a start, IMDA will partner seven media companies to offer over 70 apprenticeship opportunities across content production, business management and technical roles that will further deepen practical skills development and ensuring talent is industry ready.

6. In his opening speech, SMS Tan Kiat How said, “The Asia TV Forum and Market and the Singapore Media Festival are platforms for networking and collaborations. As Asia’s entertainment content industry grows, Singapore will be your partner to tell our stories to the world, and for the world to find discover the talents and gems in Asia. Today, we are taking an important step to do so by investing in the future of media – our media professionals so that they are equipped with the right skills, technology, and platforms to excel in this dynamic industry.”

New Virtual Production Projects and Talent Supported
7. The use of VP in Singapore’s media industry continues to progress with the launch of three full-scale VP studios that can support international projects developed with VP technology. These are Aux Infinite Studios, Oceanus Media Global and X3D Studio and they are also providing VP training. Next year, media professionals can look forward to specialised training opportunities for job roles such as VP supervisors from local and overseas VP experts.

8. There have also been 28 VP content projects which leveraged VP technology to open creative possibilities and overcome physical limitations. For example, film director Ian Wee from Reelisations Pte Ltd tapped on VP in his latest content project “Time Apart”, to execute challenging time lapse sequences across different time periods. Ian was a participant of the National Film and Television School (NFTS) Certificate in Virtual Production course in April 2023. Another example, Glenn Chan from Sonder Films used 3D scanning technology to develop and integrate 3D CGI characters into virtual environments for his short-form VP project “The Old World”. Glenn was a participant of the Aux-XON SG x Korea VP Masterclass conducted earlier this year.

9. For more details on the Singapore Media Festival and the Asia TV Forum and Market please visit www.imda.gov.sg/smf. To read the latest Skills Framework for Media, visit https://www.imda.gov.sg/how-we-can-help/media-manpower-plan/skills-framework-for-media-sfw-for-media.

[1] IMDA Manpower Survey

Hashtag: #SGMediaFest

https://www.imda.gov.sg/smf
https://www.linkedin.com/company/imdasg
https://www.instagram.com/imdasg

The issuer is solely responsible for the content of this announcement.

About the Singapore Media Festival

The Singapore Media Festival, hosted by the Infocomm Media Development Authority (IMDA), proudly returns for its 11th edition as one of Asia’s premier international media industry platforms. From 28 November to 8 December 2024, Singapore will be the focal point for Asia’s media community, showcasing diverse media innovations, forging industry deals, and presenting Singapore’s world-class content. This year’s festival, themed “Make It Here,” aims to inspire the region’s media talent to create, connect, and realise their visions. The event will bring together media professionals, industry leaders, creators, and consumers through the Singapore International Film Festival (SGIFF), Asia TV Forum & Market (ATF), Singapore Comic Con (SGCC), and Nas Summit Asia (NAS).

For more information, please visit: www.imda.gov.sg/smf.

About Asia TV Forum & Market (ATF) 2024

3 December 2024: The ATF Leaders Dialogue

4 – 6 December 2024: Market & Conference

Into its 25^th edition, Asia TV Forum & Market (ATF) – the region’s co-production & entertainment content market and conference – is the proven industry platform to acquire knowledge, network, buy, sell, finance, distribute and co-produce across all platforms. It is the premier stage in Asia to engage with the entertainment industry’s top players from around the world. It’s where the best minds meet, and the future of Asia’s content is shaped.

For more information, please visit www.asiatvforum.com

About Infocomm Media Development Authority

The Infocomm Media Development Authority (IMDA) leads Singapore’s digital transformation by developing a vibrant digital economy and an inclusive digital society. As Architects of Singapore’s Digital Future, we foster growth in Infocomm Technology and Media sectors in concert with progressive regulations, harnessing frontier technologies, and developing local talent and digital infrastructure ecosystems to establish Singapore as a digital metropolis.

For more news and information, visit www.imda.gov.sg or follow IMDA on LinkedIn (IMDAsg) and Instagram (@imdasg).