MIL Asia Pacific Publishing Engine

Source: Government of India

Tribal Startups Shine at StartupMahakumbh

ST-Led Ventures incubated at IIM Kolkata & IIT Guwahati Receive National Awards from Union Minister Shri Piyush Goyal

Ministry of Tribal Affairs Showcases 45 Startups under “DhartiAabaTribePreuners 2025” under Janjatiya Gaurav Varsh at Bharat Mandapam

Posted On: 06 APR 2025 9:09AM by PIB Delhi

New Delhi ,Ministry of Tribal Affairs marked a significant milestone in empowering tribal entrepreneurship by showcasing 45 tribal-led startups from across India at the StartupMahakumbh held at Bharat Mandapam, New Delhi. Organized under the flagship initiative “DhartiAabaTribepreuners 2025” as part of Janjatiya Gaurav Varsh, the event witnessed innovation from sectors ranging from deep tech to organic farming and green energy.

Two tribal-led startups, incubated at premier institutions—IIM Kolkata and IIT Guwahati—received prestigious national recognition from Shri Piyush Goyal, Hon’ble Union Minister for Commerce & Industry, affirming the growing role of tribal entrepreneurs in India’s startup ecosystem.

On this achievement, Shri JualOram, Hon’ble Union Minister of Tribal Affairs, and Shri VibhuNayar, Secretary, Ministry of Tribal Affairs, congratulated the winning startups for their exemplary innovation and dedication to community-led development. They commended the efforts of all participating entrepreneurs for representing the aspirations and potential of tribal India on a national platform.

Award-Winning Startups founded by ST entrepreneurs

OurGuest Travels (Top View Pvt. Ltd.)

Incubated at IIM Kolkata | Sector: Sustainable Tourism

Based in Gangtok, Sikkim, OurGuest Travels (www.ourguest.in) was conferred the D2C (Direct-to-Consumer) Award. As the first Online Travel Aggregator (OTA) from Northeast India, it offers a curated collection of homestays, farmstays, resorts, and guided experiences across Sikkim, North Bengal, Assam, Meghalaya, Arunachal Pradesh, and Jammu & Kashmir.With over 600 homestays and 50+ guides, the platform has served more than 6,000 travelers and supports rural livelihoods and eco-tourism. This recognition is a key milestone under the Ministry’s 100-Day Agenda to build a strong tribal startup ecosystem.

Ngurie Organic Pvt. Ltd.

Incubated at IIT Guwahati | Sector: AgriTech& Organic Farming

Ngurie Organic received the AgriTech Award for its transformative work in sustainable agriculture. The startup harnesses data-driven research, precision agriculture, and blockchain-enabled transparency to empower farmers with solutions that:

• Reduce water usage
• Improve soil health
• Increase crop yields
• Promote environmental sustainability
• Strengthen food security
  🔗 Website: https://ngurie.com

Exclusive Sessions on Tribal Entrepreneurship by VC /Angel Investors

The event featured a high-impact panel titled “Investing in Bharat: Unlocking Startup Potential Beyond the Metro”, with thought leaders from India’s startup and investment ecosystem

• T. RoumuanPaite, Joint Secretary, Ministry of Tribal Afafirs
• Vikram Gupta, IvyCap Ventures
• Sandeep NagbhushanAithal, Infosys Ltd.
• Vineet Khurana, SACC India
• Moderator: Amit Pandey, IVCA

In addition, faculty from IIT Delhi conducted a Design Thinking Workshop, guiding tribal startups to refine and scale their business ideas.

 Empowering the Next Generation of Tribal Entrepreneurs

The 3-day program concluded with the distribution of participation certificates to:45 tribal startup founders,100 EMRS (Eklavya Model Residential School) students,150 tribal students availing higher education scholarships.

Participants also took part in a bootcamp at IIT Delhi and attended exposure visits across the startup ecosystem during the StartupMahakumbh.

Towards a Self-Reliant Tribal India

 Ministry of Tribal Affairs, through initiatives like DhartiAabaTribepreuners 2025, continues to create an enabling environment for tribal innovators—combining mentorship, funding, capacity building, and platform exposure. The presence and recognition of tribal entrepreneurs at India’s largest startup conclave reaffirms the Ministry’s commitment to making tribal India a key stakeholder in the nation’s growth story.

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RN/PIB

(Release ID: 2119444) Visitor Counter : 31

Source: Government of India

Union Tribal Affairs Minister Shri JualOram Inaugurates Two-Day Mega Medical Camp at Sundargarh, Odisha

Ministry of Tribal Affairs, AIIMS Delhi, and Government of Odisha Organise Mega Medical Camp on the Occasion of Janjatiya Gaurav Varsh

Ministry Reiterates Commitment to Holistic Tribal Development through Enhanced Healthcare Access

Posted On: 06 APR 2025 9:05AM by PIB Delhi

Ministry of Tribal Affairs is committed to the holistic development of tribal communities across the country. As part of this vision, the Ministry has undertaken several proactive health initiatives to bridge healthcare gaps and ensure access to quality medical services for tribal populations, especially in remote areas.

Mission to Eradicate Sickle Cell Disease by 2047

National Sickle Cell Anaemia Elimination Mission, launched by Prime Minister Shri Narendra Modi in July 2023. The Mission sets an ambitious target to eradicate sickle cell disease by 2047, focusing on awareness generation, universal screening, and comprehensive disease management among tribal populations through a community-centric and integrated approach.

Mega Medical Camp at Sundargarh: A Collaborative Effort under Janjatiya Gaurav Varsh

As part of the celebrations of Janjatiya Gaurav Varsh, the Ministry of Tribal Affairs, in collaboration with AIIMS Delhi and the Government of Odisha, is organising a two-day mega medical camp on 5th and 6th April 2025 at the Sundargarh Government Medical College & Hospital, Odisha.

 

The camp was formally inaugurated by the Hon’ble Union Minister of Tribal Affairs, Shri JualOram, on 5th April 2025. In his inaugural address, Shri Oram reaffirmed the Central Government’s unwavering commitment to strengthening healthcare services for tribal communities. He commended the efforts of AIIMS Delhi’s team of medical experts for their dedicated service to the tribal people of Odisha.

On this occasion, the Minister also distributed wheelchairs to around 100 persons with disabilities, exemplifying the Government’s inclusive approach to healthcare. Shri Oram personally interacted with the patients, encouraging them to fully avail the specialised medical services provided.

Specialised Medical Services and Facilities

The camp features expert participation from 19 specialist departments of AIIMS Delhi, including:

• Cardiology
• Haematology
• General Medicine
• Gastroenterology
• Nephrology
• Surgery
• Orthopaedics
  …and others.

Patients from 18 blocks of Sundargarh district and adjoining regions are benefiting from expert consultations, diagnostic services, and medical treatment.

In addition to consultations, the following free diagnostic services are being offered:

• ECG
• Ultrasound
• X-ray
• Blood tests

Patients are also receiving free medicines as per prescriptions provided by the doctors from AIIMS Delhi.

On the first day, over 1,500 patients availed these services, indicating a strong community response. The camp will continue on 6th April 2025, ensuring wider outreach and impact.

Towards Healthcare for All

This initiative represents a vital step forward in the Ministry’s efforts to realise the vision of “Healthcare for All”, especially in underserved tribal areas. The mega medical camp at Sundargarh serves as a testament to the Government’s ongoing efforts to create healthier, self-reliant, and empowered tribal communities across India.

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RN/PIB

(Release ID: 2119443) Visitor Counter : 47

Source: Government of India

Posted On: 06 APR 2025 9:02AM by PIB Delhi

The Department of Animal Husbandry and Dairying (DAHD) under the Ministry of Fisheries, Animal Husbandry and Dairying marked it’s noteworthy presence at the recently concluded Startup Mahakumbh 2025, held from April 3rd to 5th at Bharat Mandapam, New Delhi. Participating as a Silver Supporting Partner, DAHD set up an engaging pavilion, showcasing innovations and initiatives in the livestock and dairy sector.

As part of its Pavilion, DAHD provided Startup Pods to 15 Startups functional in the Livestock and Dairy sector, who got an opportunity to display their product/services and network with key stakeholders while exploring avenues for scaling their impact in India’s agrarian economy. These Startups showcased innovative products and technologies for example, ensuring temperature compliance in dairy processing, AI monitoring for animal health management, sensor-based smart collar for estrus detection, milk adulteration detection kit to ensure food safety, end-to-end SaaS platform for dairy supply chain, artificial insemination gun, data integration in dairy supply chain via blockchain to improve product traceability etc. Ms. Varsha Joshi, Additional Secretary, DAHD, visited the Pavilion and interacted with several startups, appreciating their contribution and innovations in livestock management and dairy technology.

DAHD’s Pavilion highlighted key government initiatives including the National Livestock Mission’s Entrepreneurship Development Programme, the Rashtriya Gokul Mission, and the Animal Husbandry Infrastructure Development Fund. The pavilion also showcased DAHD’s efforts in delivering services directly to farmers doorstep and attracted significant interest and footfall from a wide range of stakeholders from academia, industry, and general public.

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Aditi Agrawal

(Release ID: 2119442) Visitor Counter : 62

Source: Government of India

Posted On: 06 APR 2025 8:47AM by PIB Delhi

Ministry of Statistics and Programme Implementation (MoSPI), Government of India, released the 26^th edition of its publication titled “Women and Men in India 2024: Selected Indicators and Data”.

The publication offers a comprehensive overview of the gender landscape in India, presenting selected indicators and data across key areas like population, education, health, economic participation, and decision-making, all sourced from various Ministries/ Departments/Organizations. Utilizing official statistics, it presents gender-disaggregated data across urban-rural divides and geographic regions, facilitating a nuanced understanding of the challenges and opportunities faced by women and men.

“Women and Men in India 2024: Selected Indicators and Data” serves as a crucial resource, highlighting both progress in gender equality and persistent disparities. By analyzing socio-economic indicators and highlighting trends, it empowers policymakers, researchers, and other stakeholders to develop gender-sensitive policies fostering sustainable and inclusive development.

“Women and Men in India 2024: Selected Indicators and Data” is available at the website of the Ministry (https://mospi.gov.in/).

Some of the highlights of the publication are as follows:

• The primary and higher Secondary levels have consistently high GPI, indicating strong female enrolment. Upper primary and elementary levels saw fluctuations but remained close to parity.

• The LPFR in usual status for ages 15 years and above has improved from 49.8% (2017-18) to 60.1% (2023-24).

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• Women own 39.2% of all bank accounts and contribute to 39.7% of total deposits. Their participation is highest in rural areas, where they make up 42.2% of account holders.
• There is rise in DEMAT account over the years, indicating growing participation in the stock market. From March 31, 2021, to November 30, 2024, the total number of DEMAT accounts increased from 33.26 million to 143.02 million, marking more than a fourfold rise. Male account holders have consistently outnumbered female account holders, but female participation has also shown a growing trend. The number of male accounts rose from 26.59 million in 2021 to 115.31 million in 2024, while female accounts increased from 6.67 million to 27.71 million during the same period.

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• Rising percentage of female-headed proprietary establishments across manufacturing, trade, and other services sectors over the years 2021-22, 2022-23 and 2023-24 has been observed.

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• The total number of electors increased from 173.2 million in 1952 to 978 million in 2024, with a notable rise in female voter registration. Female voter turnout varied over the years, reaching 67.2% in 2019 but slightly declining to 65.8% in 2024. The gender gap in voting has narrowed, with female turnout surpassing male turnout in 2024.
• Over the years, there has been an increase in the number of startups recognized by DPIIT with at least one-woman director, reflecting a positive trend in female entrepreneurship. The total number of such startups rose from 1,943 in 2017 to 17,405 in 2024.

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Samrat/Allen

(Release ID: 2119441) Visitor Counter : 70

Source: Hong Kong Government special administrative region

Source: Hong Kong Government special administrative region

​Associate Director-General of Investment Promotion at Invest Hong Kong (InvestHK) Mr Charles Ng will commence his duty visit to the Middle East from today (April 6) to April 10, with key engagements in Saudi Arabia and the United Arab Emirates (UAE). The visit underscores Hong Kong’s commitment to deepening economic ties with these dynamic markets and promoting the city as a premier gateway for Middle Eastern businesses seeking opportunities on the Mainland and in the broader Asia-Pacific region.
 
Hong Kong has a strong, long-standing and ever-growing relationship with the Gulf region including Saudi Arabia and the UAE, marked by increasing co-operation in finance, trade, and investment. The city’s merchandise trade with the Cooperation Council for the Arab States of the Gulf reached US$21.6 billion in 2023. These partnerships are further strengthened through initiatives such as the Belt and Road Initiative, which fosters greater connectivity and economic opportunities.
 
     “Amid an increasingly complex global landscape and geopolitical uncertainties, countries in the Middle East are actively diversifying their investments. Hong Kong, as a global financial centre and a ‘super connector’ between the Mainland, Asia, and the rest of the world, is uniquely positioned to support this shift,” said Mr Ng. “Under the ‘one country, two systems’ principle, our city offers a robust legal system, free flow of capital and information, and internationally aligned regulations. Beyond finance, Hong Kong is also a hub for trade, logistics, innovation and professional services. It serves as a gateway for Middle Eastern partners to tap into the Mainland and the broader Asia-Pacific region.”
 
As part of its commitment to financial diversification, the city has developed a supportive platform for Islamic finance, including sukuk issuance and tax law amendments to ensure a level playing field with conventional bonds and the successful launch of three government sukuk. It continues to welcome more Islamic financial institutions and products to leverage Hong Kong’s international financial platform and tap into opportunities across Asia and the Mainland.
 
During his visit to Riyadh, Jeddah and Dubai, Mr Ng will participate in numerous high-level business roundtables co-organised with Asia House, bringing together representatives from prominent businesses, family offices, and investors. He will also meet with representatives from leading Middle Eastern companies and discuss how establishing a presence in Hong Kong can drive their global expansion strategies.
 
These engagements aim to strengthen economic ties, foster collaboration, and attract more businesses from the Middle East to invest and expand through Hong Kong. By leveraging Hong Kong’s unique position as a global financial and multinational supply chain management hub, InvestHK seeks to facilitate mutually beneficial partnerships that drive innovation and growth across regions.

Source: Government of India

Union Home Minister and Minister of Cooperation Shri Amit Shah chairs a security review meeting in Raipur, Chhattisgarh

Double engine government under the leadership of Prime Minister Shri Narendra Modi is leaving no stone unturned in completely elaminating Naxalism

Before 31 March, Naxalism will become history in the entire country including Chhattisgarh

Naxalism ruined many generations, now it should not take more time to eliminate this problem

Chhattisgarh government has made satisfactory progress on both development and security fronts

The ongoing fight against Naxalites must not scattered

Coverage area of the ‘NiyadNellanar’ scheme should be expanded from a 5-km to 10 km radius around security camps

It must be ensured that people in Naxal-affected areas receive equal opportunities for development

Coordination among states police and central agencies should improve to nab those Naxals fleeing from one state to another

Posted On: 05 APR 2025 11:25PM by PIB Delhi

Union Home Minister and Minister of Cooperation Shri Amit Shah chaired a security review meeting in Raipur, Chhattisgarh.The meeting was attended by Chhattisgarh Chief Minister Shri Vishnu Deo Sai, Deputy Chief Minister Shri Vijay Sharma, the Director of the Intelligence Bureau (IB), Special Secretary (Internal Security) in the Ministry of Home Affairs, Directors General of the Central Reserve Police Force (CRPF), National Investigation Agency (NIA), Border Security Force (BSF), and Indo-Tibetan Border Police (ITBP) as well as the Chief Secretary and Director General of Police of Chhattisgarh.

Addressing the meeting, the Union Home Minister said that the double engine government under the leadership of Prime Minister Shri Narendra Modi is leaving no stone unturned in completely elaminatingNaxalism. He said that before 31 March, Naxalism will become history in the entire country including Chhattisgarh.

Union Home Minister Shri Amit Shah said Naxalism ruined many generations, now it should not take more time to eliminate this problem. He said, the ongoing fight against Naxalites must not scattered.

Shri Amit Shah said, Coordination among states police and central agencies should improve to nab those Naxals fleeing from one state to another. 

Shri Amit Shah said, Chhattisgarh government has made satisfactory progress on both development and security fronts. He said, coverage area of the ‘NiyadNellanar’ scheme should be expanded from a 5-km to 10 km radius around security camps. Shri Shah said, it must be ensured that people in Naxal-affected areas receive equal opportunities for development. The Union Home Minister said that the momentum of the anti-Naxal operation should not diminish under any circumstances.

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RK/VV/PR/PS

(Release ID: 2119424) Visitor Counter : 20

Source: Government of India

Posted On: 05 APR 2025 9:53PM by PIB Delhi

The leaders of Indian Origin Tamil (IOT) from Sri Lanka met the Prime Minister Shri Narendra Modi today in Colombo. Shri Modi announced that India will support construction  of 10,000 houses, healthcare facilities, the sacred site Seetha Eliya temple and other community development projects for IOTs in cooperation with the Government of Sri Lanka.

In separate posts on X, he said:

“The meeting with leaders of Indian Origin Tamil (IOT) was fruitful. The community constitutes a living bridge between the two countries for over 200 years. India will support construction  of 10,000 houses, healthcare facilities, the sacred site Seetha Eliya temple and other community development projects for IOTs in cooperation with the Government of Sri Lanka.”

“இந்தியாவை பூர்வீகமாக கொண்ட தமிழ் மக்களுடன் சுமூகமான சந்திப்பு இடம்பெற்றிருந்தது. இச்சமூகத்தினர் 200 ஆண்டுகளுக்கும் மேலாக இரு நாடுகளுக்குமான ஒரு வாழும் உறவுப் பாலமாக திகழ்கின்றனர். இலங்கை அரசாங்கத்துடனான ஒத்துழைப்புடன் இந்தியாவை பூர்வீகமாக கொண்ட தமிழ் மக்களுக்காக 10000 வீடுகள், சுகாதார வசதிகள், புனித சீதை அம்மன் ஆலயம் ஆகியவற்றின் நிர்மாணம் மற்றும் ஏனைய சமூக அபிவிருத்தி திட்டங்களுக்காக இந்தியா ஆதரவு வழங்கும்.”

 

 

 

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MJPS/SR

(Release ID: 2119404) Visitor Counter : 51

Source: Government of India

Posted On: 05 APR 2025 9:49PM by PIB Delhi

The Prime Minister Shri Narendra Modi met the leaders of the Tamil community of Sri Lanka today in Colombo. During the meeting, he conveyed condolences on the passing of respected Tamil leaders, Thiru R. Sampanthan and Thiru Mavai Senathirajah.

In separate posts on X, he wrote:

“It is always a pleasure to meet the leaders of the Tamil community of Sri Lanka. Conveyed my condolences on the passing of respected Tamil leaders, Thiru R. Sampanthan and Thiru Mavai Senathirajah, both of whom were personally known to me. Reiterated unwavering commitment to a life of equality, dignity and justice for the Tamil community within united Sri Lanka. Many projects and initiatives launched during my visit will contribute to their social, economic and cultural progress.”

“இலங்கையில் உள்ள தமிழ் சமூகத்தினரது தலைவர்களை சந்திக்கின்றமை எப்பொழுதும் மகிழ்ச்சிக்குரிய ஒரு விடயமாகும்.  பெருமதிப்புக்குரிய தமிழ் தலைவர்களான திரு இரா. சம்பந்தன் மற்றும் திரு மாவை சேனாதிராஜா ஆகியோரது மறைவுக்கு இச்சந்தர்ப்பத்தில் அனுதாபம் தெரிவித்தேன், அவர்கள் இருவருமே தனிப்பட்ட ரீதியில் எனக்கு தெரிந்தவர்கள். அத்துடன், ஐக்கிய இலங்கைக்குள் தமிழ் சமூகத்திற்கு சமத்துவம், கௌரவம் மற்றும் நீதி ஆகியவற்றுடனான வாழ்க்கைக்கான எமது அசைக்கமுடியாத அர்ப்பணிப்பு இச்சந்திப்பின்போது மீண்டும் வலியுறுத்தப்பட்டது. எனது விஜயத்தின்போது ஆரம்பித்துவைக்கப்பட்ட பல திட்டங்களும் முன்னெடுப்புகளும் அவர்களது சமூக, பொருளாதார மற்றும் கலாசார முன்னேற்றத்துக்கான பங்களிப்பை வழங்கும்.”

 

 

 

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MJPS/SR

(Release ID: 2119403) Visitor Counter : 58

Source: Hong Kong Government special administrative region

Following is the speech by the Financial Secretary, Mr Paul Chan, at the Hong Kong Web3 Festival today (April 7):

(Deputy to the National People’s Congress, Vice Chairman of the All-China Federation of Industry and Commerce, the Chairman and Chief Executive Officer of Wanxiang Group, Mr Lu Weiding), (the Chairman of Wanxiang Blockchain and the Chairman and Chief Executive Officer of HashKey Group, Dr Xiao Feng), Duncan (Member of the Legislative Council Mr Duncan Chiu), distinguished guests, innovators, and pioneers of the digital frontier,

Good morning. It is an immense pleasure to join you all today at the Web3 Festival of Hong Kong, a gathering of brilliant leaders and innovators to share thoughts and experiences about the future of blockchain, cryptocurrencies, decentralised finance and beyond.

For those who have come from afar, a warm welcome to Hong Kong. As a city where East meets West and tradition intertwines with innovation, we are proud to host you to collectively chart the course of Web3.

As a technology, blockchain is displaying its vast potential, significantly increasing transaction efficiency, lowering costs and enhancing market transparency. Today, we are witnessing a marked increase in the institutional adoption of Web3, with traditional banks, asset managers and brokers increasingly integrating digital assets into their offerings.

As more jurisdictions embrace cryptocurrencies, the market has been energised with optimism, marked by a bullish trend over the past year or so.

But beyond finance and the enthusiasm on cryptocurrency, we all agree that blockchain can bring real benefits to the people. For example, ReFi (regenerative finance) is gaining traction. Tokenised carbon credits enable the transparent tracking of emissions reductions, reinforcing trust in voluntary carbon markets.

Meanwhile, the convergence of Web3 and AI is unlocking new frontiers. In finance, decentralised AI algorithms enhance credit assessments, audit smart contracts with greater precision, and deliver hyper-personalised investment strategies. Beyond finance, this synergy streamlines supply chains, revolutionises healthcare data management, and creates new immersive gaming experiences. Web3 and AI are transforming businesses and public services, driving innovation and efficiency at every turn.

Hong Kong: driving Web3 innovation

Allow me to take a few minutes to talk about Web3 in Hong Kong, our attitude and approach towards Web3 and our role in this global transformation.

Hong Kong is pro-Web3. Over two years ago, we published a high-level policy statement on the development of virtual assets, affirming our commitment to a dynamic Web3 ecosystem. Central to this is the principle of the “same activity, same risk, same regulation” approach. Through a balanced and pro-innovation regulatory approach, we seek to maintain a level playing field for market participants and encourage innovative activities in this space.

We have been walking the talk, and have delivered a number of initiatives. We were among the first in the world to have established clear licensing frameworks for virtual asset trading platforms, or VATPs. Indeed, the Securities and Futures Commission has already issued 10 VATP licences. We have also authorised VA spot ETFs (exchange-traded funds) last year, and Hong Kong now hosts the largest VA ETF market in the Asia Pacific, bridging traditional finance with crypto innovation.

Meanwhile, legislation for stablecoin regulation is set for imminent passage. My colleagues at the Financial Services and the Treasury Bureau and the Hong Kong Monetary Authority (HKMA) are working hard to get the relevant licensing regime to go live within this year.

The Government will also conduct consultations on the licensing regimes of over-the-counter trading services and custodian services for VA (virtual assets). This will solidify Hong Kong’s comprehensive regulatory architecture.

Let me make clear that Hong Kong’s approach to Web3 is not simply about regulation. We aim to strike a balance, ensuring market integrity without stifling innovation. After all, innovation entails risks. The lesson we have learnt is that we need to put it under a balanced regulatory framework so as to enable the sector to grow in a responsible and sustainable manner.

One essential element in our regulatory regime is sandboxes, such as the HKMA’s Project Ensemble. Project Ensemble allows innovators to test various use cases, such as tokenised real-world assets, with early regulatory feedback. This signifies our pro-innovation approach, as we put regulators and innovators in a co-creation process.

Later this year, we will unveil a second policy statement on the development of virtual assets. It will cover how to make use of Web3 to fast-track the development of traditional financial services, empower the real economy and strengthen the application of digital asset technologies.

A few thoughts on Web3

Now, looking ahead, allow me to share a few thoughts we consider important for the future development and success of Web3.

First, it is the very vision of Web3 to enable more equitable use of the Internet, and make transactions more efficient and less costly. Innovation is core to this goal, and regulators should adopt a technology-neutral approach. It would only be counterproductive if jurisdictions or regulatory authorities favour particular types of cryptocurrencies, or rule out technologies or applications at the outset. Markets, not mandates, should decide which innovations prevail.

Second, we all know Web3’s true potential lies well beyond digital assets or cryptocurrencies. Combined with AI, it can be a valuable tool to optimise impact investments, promote inclusive finance, support decarbonisation initiatives, advance sustainable development goals, and more. The global Web3 community should and can strengthen collaboration to support these worthy causes.

Finally, it is essential that new technologies be developed and applied responsibly. AI, for instance, is evolving at speeds that are unexpectedly faster. Decentralised networks bring enormous benefits, but when coupled with AI, challenges such as algorithmic bias, deepfakes and cybersecurity require attention and co-operation at the regional and global levels. Here in Hong Kong, we advocate for suitable guardrails – frameworks that protect investors, consumers and users while encouraging innovation activities. We support a multi-stakeholder approach where governments, regulators and market players across different territories and regions come together to drive forward the sustainable development of Web3.

Concluding remarks

Ladies and gentlemen, to secure a promising and successful future for Web3, we need not just technological innovation, but also a common will to harness creativity and innovation for the benefit of the people. Let me assure you that Hong Kong is committed to this goal. We are here to collaborate with innovators and entrepreneurs from around the world, pushing the boundaries of what is possible, and leveraging the transformative power of Web3 for the greater good. Thank you very much.