NOVEMBERASIA BUSINESS OUTLOOK8NEWSROOMCONSTRUCTION SITES IN SINGAPORE TO DEPLOY ROBOTS FOR PAINTING JOBSSri Lanka's trade connection with Hong Kong is thriving, as total exports hit USD 163 million in 2023. Main exports included tea, clothing, diamonds, gemstones, and seafood products. Meanwhile, Sri Lanka imported USD 190 million worth of goods from Hong Kong, with electrical machinery, mechanical appliances, and specialty fabrics being the main imports.To enhance trade and economic ties between Sri Lanka and Hong Kong, the HKTDC and EDB will jointly organize a milestone Roadshow at The Kingsbury Hotel in Colombo on 11th October 2024.The goal of the Roadshow is to enhance trade and economic connections between Sri Lanka and Hong Kong, providing a space for companies to discover fresh markets, create important alliances, and broaden their international presence.The HKTDC is a top government organization focused on boosting and advancing Hong Kong's trade, functioning via a global system of 50 offices. Well-known for arranging global trade shows, seminars, and trade trips that offer valuable chances for businesses, particularly Small and Medium-sized Enterprises (SMEs), to expand into new markets.Representatives from the Hong Kong Trade Development Council (HKTDC) met with EDB officials on October 9, 2024 to discuss potential collaboration opportunities between Hong Kong and Sri Lanka. Key HKTDC representatives, such as Ms. Vian Cheung, Mr. Samuel Cheng, Mr. Rajesh Bhagat, and Mr. Zahir Merchant, attended the meeting. Starting next year, more robots will be deployed across about half of all new Build-to-Order (BTO) construction sites in Singapore to carry out tasks such as interior painting, according to the Housing and Development Board (HDB). This initiative is part of HDB's broader efforts to enhance construction efficiency through the use of automation and robotics. Senior Minister of State for National Development Tan Kiat How announced this at an annual forum for building professionals on Wednesday.The skimming technique, a form of plastering, is typically labor-intensive, but the robot's sensors enable it to target areas with accuracy, boosting trade productivity. At the Grove Spring @ Yishun BTO site, where a two-year trial for this robot is underway, HDB has observed a productivity improvement of up to 30 percent since its implementation last August. Encouraged by these results, HDB plans to expand the use of robots to selected BTO sites starting next year.To ease the adoption of robotic solutions, HDB will collaborate with suppliers to offer these robots at competitive prices through a term contract, making the technology more affordable and accessible for contractors. This partnership aims to help contractors accelerate the process of identifying, onboarding, and deploying suitable robots at construction sites, fostering greater efficiency in the sector. SRI LANKA-HONG KONG TRADE GROWS AS EXPORTS HIT $163M, IMPORTS AT $190M
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