DATA
FOCUS | FEATURE
Manufacturing Plant project in Germany, the $10bn Hai Duong Pharmaceutical Industrial Hub project in Vietnam, and the $9bn Bantry Bay Green Energy Plant project in Ireland.
SOUTHEAST ASIA Southeast Asia’s strong manufacturing base has largely benefitted from the rebound in global consumer demand. Investor confidence in the region has been further boosted by the increase in trade barriers put in place on China by the US. Indonesia and Vietnam collectively account for 66.6% of the Southeast Asian industrial construction pipeline, by value.
The Indonesian government is implementing new incentives to boost production, particularly in the electric vehicle (EV) sector. The government aims to become one of the world’s top three producers of EV batteries, targeting a production capacity of 140GWh per annum, by 2030.
In December 2024, Apple, the US-based
technology company, announced its plan to invest $1bn in an Indonesian manufacturing plant to produce smartphone components. Furthermore, in December 2024, according to the Ministry of Planning and Investment, the government of Vietnam has attracted 174 foreign direct investment (FDI) projects
in the semiconductor industry, with a total registered capital of $11.6bn. Key developments as part of investment include an agreement signed between the government of Vietnam and Nvidia Corporation, a US-based technology company, for the construction of an Artificial Intelligence (AI) Research and Development Center, and investment of $4.1bn for the construction of two semiconductor testing and packaging factories. GlobalData is currently tracking industrial construction projects in Southeast Asia with a total value of $395.4bn, which includes projects from announcement to execution stages. The
YOKE ISSUES DIGITAL PRODUCT PASSPORTS
YOKE Industrial Corp’s range of lifting and rigging products are now equipped with digital product passports (DPP), as industry conforms to the European Union’s Ecodesign for Sustainable Products Regulation (ESPR). A DPP is a data management tool that records a product’s lifecycle
information, including material composition, energy performance, maintenance guidelines and recycling methods. A DPP, therefore, promotes compliance and transparency, while improving resource YOKE’s catalogue includes Grade 80 and Grade 100 lifting chain (RFID) chips within every item, allowing end users to utilise a DPP throughout the product lifecycle. the EU Machinery Regulation and the Machinery Directive 2006/42/
their circularity, energy performance, recyclability and durability. requirements that can be set. YOKE said it has campaigned for RFID and software as a service (SaaS) to be more widely utilised by the lifting industry for many years, and remains dedicated to simplifying and digitalising the processes around compliance and traceability for equipment management. Steven Hong, president at YOKE, said: “Not only is technology enabling industry to conform to guidance, but it is also moving us away from traditional hard labels, which present many issues, such “In contrast, technology provides more accurate data, better being impacted by the environment. This change not only improves data goals of a modern circular economy and sustainable development.”
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