OMNI Features|SMA and Vopak Collaborate to Enhance Safety Measures in Marine Fuel Handling.Britain Announces Establishment of National Nuclear Team to Develop Prototype Fusion Power Plant.Taiwan's Agricultural Technology Represents the Philippines' Primary Source of Foreign Investment

May. 15 2024

OMNI Features|SMA and Vopak Collaborate to Enhance Safety Measures in Marine Fuel Handling.Britain Announces Establishment of National Nuclear Team to Develop Prototype Fusion Power Plant.Taiwan's Agricultural Technology Represents the Philippines' Primary Source of Foreign Investment

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|SMA and Vopak Collaborate to Enhance Safety Measures in Marine Fuel Handling
Singapore Polytechnic and Vopak have formalized an agreement by signing a memorandum of understanding (MOU) to augment the expertise of faculty members at the Singapore Maritime Academy (SMA) in the proper management of environmentally friendly marine fuels. According to a joint statement, SMA will leverage Vopak's established proficiency in the safe handling of emerging marine fuels, such as ammonia, biofuels, and methanol, to develop a specialized curriculum. This curriculum will provide maritime professionals with the requisite skills to navigate a net-zero future.

|Britain Announces Establishment of National Nuclear Team to Develop Prototype Fusion Power Plant
Claire Coutinho, Minister of the Department for Energy Security and Net Zero, and Andrew Bowie, the Deputy Minister for Nuclear and Renewable, jointly announced on May 8th a competitive bidding program for a prototype fusion power plant. This multi-stage bidding process will commence on May 22nd this year, in collaboration with industry partners, including an engineering firm and a construction company.

The UK partners with industry engineering and construction firms to form pertinent national teams, spearheaded by UK Industrial Fusion Solutions Ltd (UKIFS), a wholly-owned subsidiary of the UK Atomic Energy Authority (UKAEA). UKIFS is primarily responsible for the development of the Spherical Tokamak for Energy Production (STEP) prototype power plant, aiming to establish a leading global fusion supply chain through public-private collaboration. This initiative aims to ensure the UK's leadership position in new technologies and emerging industries, and pave the way for the commercialization of fusion and the development of a series of nuclear power plants worldwide in the future.

|Economists State that Taiwan's Agricultural Technology Represents the Philippines' Primary Source of Foreign Investment
The Philippine Trade and Investment Center (PTIC) in Taipei and institutions such as the Asia-Pacific University hosted the "2024 Taiwan-Philippines Business Delegation Seminar" on May 9th. Filipino economist Bernardo Villegas stated that, food security stands as one of the foremost challenges in the Asia-Pacific region. Presently, a significant foreign investor in the Philippines is Known-You Seed from Taiwan, advocating for the proliferation of fruit, vegetable seedlings, and agricultural techniques in the Philippines.

Taiwan and the Philippines are leveraging each other's strengths and deepening their mutually complementary economic and trade cooperation, particularly in agriculture, including renewable energies such as solar, wind, and geothermal power, smart cities, and infrastructure development.

Reference: The International Trade Administration, MOEA (TITA)|Singapore Business Review|udn News

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