The Investment, Trade and Industry Ministry (MITI) is confident that Malaysia’s single window trade initiative, to harmonise with China’s customs system, will facilitate business and trade operations by reducing red tape, coordinate and launch Malaysia-China cross border trade processes.

Its minister Tengku Datuk Seri Zafrul Abdul Aziz said in the current digital era the national single window (NSW) initiative reflects both governments’ commitment to leverage technology from the bilateral trade standpoint.

“The government and MITI will also prioritise expanding the NSW’s reach to integrate with ASEAN’s single window (initiative),“ he said at MY E.G. Services Bhd and the Federation of Malaysian Freight Forwarders (FMFF) cooperation agreement signing ceremony today.

The partnership establishes ZTrade as a NSW platform with ZTrade putting together the best adapted features from China’s single window implementation.

“There is a lot of potential for ASEAN members to increase trade with each other,” he said, adding that intra-ASEAN trade is at the 23-25 per cent level.

“Thus, the ASEAN single window initiative is also able to strengthen the country’s position in the ASEAN economic community, and open up greater opportunities for regional trade and economic integration,“ he said.

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MITI is also committed to work closely with the Finance Ministry and China’s General Administration of Customs to ensure the successful implementation of “one interoperability window” to foster a more efficient, transparent, secure and resilient trade landscape.

On June 19, 2024, Malaysia and China agreed to implement another cycle of the five-year programme for economic and trade cooperation established in 2013.

This includes working together to ensure the successful implementation of the single window interoperability.

On ZTrade, Tengku Zafrul said companies can benefit from reduced costs, speedier clearances and improved communication with regulatory agencies.

“This raises competitiveness at the global level and fosters a conducive environment for businesses to thrive on innovation,“ he said.

The collaboration includes promoting the platform to businesses and government ministries and agencies, providing training and support to platform users, and introducing and jointly market services to FMFF members.

ZTrade is a Web 3 platform that verifies and exchanges digitised trade documents for the trading of goods between China and its global trading partners.

Source: Bernama

National single window initiative will boost Malaysia-China trade — MITI

Malaysia is making significant strides in achieving Sustainable Development Goals (SDGs), having accomplished 43% of its targets, well above the global average of 17%, said Prime Minister Datuk Seri Anwar Ibrahim.

In his officiating remarks at the Malaysia SDG Summit 2024 on Tuesday, Anwar said that achieving the SDGs requires a focus on sustainability, compassion and justice rather than solely on economic interests.

“Based on an analysis of 248 SDG indicators, Malaysia has achieved 43% of its goals, surpassing the global average of 17%. But I don’t think that is a fair assessment. Yes, we have achieved relative success, but we should ask ourselves: Is sustainability meant to fulfil just economic policy interests, or is it something critical for the survival of humankind?

“Now if we as a nation, as SDG assessment based purely on Malaysian interests and policies, then I would say that notwithstanding all these factors, we must have that resolve to do our level best and not to show not to be just satisfied with the rate of success that we have achieved this far,” he said.

He added: “We should do whatever is necessary to ensure that we achieve these goals in a more spectacular manner, because that is a reflection of what the Madani government stands for. It is about sustainability, ihsan (compassion), and understanding the need to survive as a nation and as human beings. In these post-normal times, this means addressing these issues with unprecedented speed and urgency, driven by the imperative of ensuring the survival of both the nation and humanity.”

According to Anwar, unprecedented challenges — ranging from political instability and environmental disasters to the ongoing crisis in Gaza — required a response centred on compassion, justice, and environmental preservation.

“We want Malaysians to understand that within the framework of Economic Madani, we place a strong emphasis on values like humanity and compassion, going beyond what is currently a core pillar of the SDGs,” he stressed.

SDG is a framework for guiding development efforts towards a more sustainable and equitable future.

The 2030 agenda for sustainable development — adopted by all UN member states in 2015 — outlines 17 SDGs to address various challenges including poverty, inequality and climate change.

Source: The Edge Malaysia

Malaysia has outpaced global average in sustainable development goals’ progress — PM

Mexico and Malaysia have great potential for significant cooperation in various technological areas, thanks to their growing innovation ecosystems and strategic geographical positions, said Mexico Ambassador to Malaysia Luis Javier Campuzano.

He said among the technological areas include smart factories, robotics production, semiconductors, electronics, renewable energy, green technology, agrotech, biotechnology, healthcare, aerospace, artificial intelligence, machine learning, and cybersecurity.

“The future of technological cooperation between Mexico and Malaysia is promising across multiple sectors. Leveraging their respective strengths, the two countries could deepen their ties through innovation and technology-driven solutions,” he said in his remarks during the celebration of 50 years of diplomatic relations between Mexico and Malaysia (1974-2024) here recently.

According to Campuzano, despite being geographically distant, Mexico and Malaysia’s bilateral trade has flourished, creating opportunities for businesses and entrepreneurs in both countries.

Malaysia has been ranked among the top ten trading partners of Mexico for the last couple of years, with bilateral trade peaking at US$15 billion in 2022, he said.

On the golden anniversary, he said Mexico looks forward to deepening its partnership with Malaysia, to strengthen people-to-people ties, creating opportunities for businesses, students, and professionals and exploring new areas of collaboration that will benefit both nations.

Meanwhile Malaysia’s Foreign Ministry Undersecretary of Americas Division, Datuk Yubazlan Yusof, who represented the government in the event, said Malaysia and Mexico ties are rooted in shared values, mutual respect and deep commitment to advance partnership in a wide array of fields.

“Over the past five decades our countries have built a robust framework of cooperation from strengthening economic ties, fostering cultural exchanges and championing shared goals at the global stage.

“Mexico has been Malaysia’s top trading partner in Latin America for the past two consecutive years,” he added.

According to Yubazlan, the Malaysia and Mexico collaboration flourished through the membership of Trans-Pacific Partnership, as well as people-to-people ties, education, arts and gastronomy.

This golden jubilee is not a celebration of past achievement but a platform for a dynamic future with new opportunities based on the success of our past which will build a stronger foundation for the future and aspire to greater heights, he said.

The bilateral relations between Malaysia and Mexico were established on March 27, 1974. Since then, exchanges in various bilateral and multilateral areas have demonstrated increasing cooperation between the two countries.

The Embassy of Malaysia in Mexico was established in 1992.

Source: Bernama

Mexico, Malaysia have cooperation potential in various technology areas — Envoy

Recognising Malaysia as a key trading partner for Germany in Asean, Germany’s Federal Association of Small and Medium-Sized Businesses (BVMW) is eager to explore new collaboration opportunities with the country.

By leveraging each other’s strengths, both nations will be able to ensure their respective long-term and sustainable growth, as highlighted during the recent Diplomatic Day of German Small and Medium Enterprises (SMEs).

Hosted by the Malaysian Embassy in Berlin on September 9 for Federal Economic Senate of BVMW SME Association members, the event provided a platform for diplomatic and business communities to convene and exchange ideas to enhance relations between Malaysia and Germany.

According to a statement from the embassy, the event was attended by 90 members of the BVMW Federal Economic Senate, led by BVMW federal executive board chairman Christoph Ahlhaus.

The Federal Economic Senate is an influential body within the BVMW that comprises high-level executives, entrepreneurs, and business leaders who represent SMEs’ interests in Germany.

It plays a critical role in shaping economic policy, advising the government and providing strategic direction for the growth of German SMEs.

Malaysia’s ambassador to Germany Datin Paduka Adina Kamarudin said Malaysia has been Germany’s largest trade partner in Asean over the past few years, and has continued to be Malaysia’s largest trading partner in the European Union.

In 2023, Germany was Malaysia’s 13th global trading partner, 14th export destination, and 11th largest import source.

According to the embassy, the total trade value between Malaysia and Germany stood at US$13.9 billion (RM63.45 billion).

During the event, the Malaysian Investment Development Authority and Malaysia External Trade Development Corporation officials from its Frankfurt and Munich offices also held a briefing to promote Malaysia as an attractive destination conducive to foreign investments.

The event was a follow-up to Prime Minister Datuk Seri Anwar Ibrahim’s visit to Germany in March, where he delivered the keynote address at BVMW SME Future Day 2024.

Source: Bernama

German SMEs keen on exploring collaboration with Malaysia

Drawing a parallel between Sarawak and Bavaria in Germany, Premier Tan Sri Abang Johari Tun Openg is spearheading bold initiatives to transform the state into a major economic force in Malaysia.

In an interview with CNA, he stated: “Germany is a federation, but Bavaria is strong. So, in this particular case, because of our advantage in terms of our economic strength, we can be equated to be like what Bavaria is to Germany.”

Sarawak, with its abundant oil and gas reserves, is making significant strides toward self-sufficiency, CNA reports.

The state has recently reclaimed Bintulu Port from the Federal government, acquired regional airline MASwings from Malaysia Airlines, and is on the brink of taking a controlling interest in Affin Bank.

These strategic moves are part of the Premier’s broader vision to advance Sarawak’s economic and financial landscape.

According to Abang Johari in the August interview, these developments not only position Sarawak for future growth but also empower it to better serve its people.

Following the historic defeat of Barisan Nasional (BN) in the 2018 General Election, four of the state’s parties exited the coalition and formed the Gabungan Parti Sarawak (GPS), led by Abang Johari. This move has propelled Sarawak into a period of rapid advancement.

With GPS holding a commanding supermajority in the Sarawak legislative assembly, the stable political climate has enabled Abang Johari to focus on major infrastructure projects aimed at attracting further investment to the state.

The Premier stated that Sarawak’s revenue for 2024 is expected to exceed the RM13.3 billion collected last year.

The state has established its own sovereign wealth fund and is planning to construct a new international airport in Kuching to enhance connectivity.

Sarawak is also making moves to solidify its status as one of Malaysia’s most significant states, currently negotiating with national oil company Petronas to regain its right as the sole buyer and seller of natural gas produced within the state.

This step could have substantial financial implications for the Federal government and reflects its broader push for increased autonomy within Malaysia.

Looking ahead, Abang Johari aims for Sarawak to become the second-largest contributor to Malaysia’s GDP by the next state elections, scheduled for 2026.

Data from Malaysia’s Statistics Department released in July shows that Sarawak contributed 9.1 percent to the GDP in 2023, ranking fourth after Selangor (25.9 percent), the Federal Territory of Kuala Lumpur (15.9 percent), and Johor (9.5 percent).

The Premier noted that Sarawak is aiming to follow the example of nations that have heavily invested in infrastructure to drive economic growth.

“What Sarawak is doing now is to enhance our infrastructure, because we’ve got the strength, including energy, and we build our internal domestic connectivity.

“We are getting investment to Sarawak, and the benefits will be shared with the investors as well as the Sarawak government or, for that matter, Sarawak as a whole,” he said.

Abang Johari emphasised that Sarawak’s rapid development and ambitious goals should not be interpreted as a push for independence.

He dismissed the calls from some activists who are advocating for Sarawak to leave Malaysia due to frustrations with what they view as insufficient progress by the Federal government in restoring Sarawak’s rights under the Malaysia Agreement 1963. This agreement established Malaysia with Sarawak and Sabah as equal partners alongside Malaya.

“Of course, the Federal government also acknowledged how we governed the state and how we moved forward. It doesn’t mean that there is an urge for us — some (have this) perception — (to go) on our own,” Abang Johari was quoted as saying.

Education combats poverty

In December 2023, Abang Johari announced that free tertiary education at state-owned universities will be available to Sarawakians starting in 2026. This initiative, first proposed by Abang Johari as part of his birthday wish in August 2022, aims to address educational barriers for Sarawak’s youth.

“For any country to develop, you need quality human resources, and that is where I think with good education behind them, you can get people out of poverty,” he told CNA.

“If you don’t have that ability to provide the (tuition) fees to them… that is a loss to the country. So, since we have the means, why not we share with them?” he said.

He believes this approach will not only help lift people out of poverty but also strengthen the economy in the long run.

“That will be an approach for us to get people out of poverty, and that will also strengthen our economy in the long run,” he added.

This initiative applies to five state-owned universities, namely, Curtin University Malaysia Sarawak Campus, Swinburne University of Technology Sarawak Campus, University Technology Sarawak, Centre of Technology Excellence Sarawak, and i-CATS University College.

CNA said local media have reported that around 25,000 students across these state-owned universities and higher education institutions could benefit from this new policy, which is projected to cost the government up to RM625 million annually.

However, the Sarawak government has stated that the free education initiative will be limited to specific science and technical fields.

This decision aligns with the state’s development goals and aims to make the most efficient use of resources.

Abang Johari suggested to CNA that the subsidised programmes may focus on areas such as aerospace, semiconductor technology, and green energy, which are essential for supplying skilled professionals to industries that drive economic growth.

He added that Sarawak is working with the United States and the United Kingdom to bring in capable instructors in this field.

“Even the (area of) renewable hydrogen energy is new, so we need a lot of people who are knowledgeable in this new economy, because we are focusing on the green economy,” he said.

Going green

Further to this, the Premier informed CNA that Sarawak has achieved carbon-negative status thanks to its power generation mix of 70 percent hydro and 30 percent gas. This accomplishment positions the state to provide renewable energy to the region.

Sarawak intends to install floating solar panels on its four dams, which could potentially generate 15 gigawatts of renewable energy by 2035 — far exceeding local demand.

Abang Johari also mentioned that Sarawak has been supplying power to Indonesia’s West Kalimantan for the past five years and is planning to extend this supply to Sabah, Brunei, and Singapore. This positions Sarawak as a key player in a potential South-east Asian electricity grid.

According to a May report by Bernama, the Sarawak-Singapore electricity supply interconnection project is slated to begin commercial operations by 2031, as stated by Sarawak’s Utilities and Telecommunications Minister Julaihi Narawi. He noted that the project is currently in the technical research phase, which includes surveying the route for the undersea cables. The initiative aims to export up to 1 gigawatt of renewable energy from Sarawak to Singapore.

In exchange, Sarawak has proposed that Singapore invest in projects such as data centres within the state. Abang Johari also revealed to CNA that Singapore will be responsible for laying the undersea cables connecting Kuching to the island nation.

Singapore’s Energy Market Authority informed CNA that it has not yet granted conditional approval for the electricity import plan from Sarawak and cannot provide further details due to commercial sensitivities.

The authority is currently in discussions with “relevant parties” and will keep engaging with companies that present “credible and commercially viable” proposals to support Singapore’s decarbonisation goals, according to a spokesperson.

CNA has also contacted Singapore’s Sembcorp Industries, which is spearheading the negotiations with Sarawak Energy Berhad, for the latest updates on the project, including information about the undersea cables.

“We have a good trading relationship between Singapore and our side. We are working closely with the Singapore government as well as the Singapore private sector, which will enhance the economic collaboration between Singapore and Sarawak,” the Premier said.

Powering Kalimantan

Abang Johari stated that Sarawak aims to extend its power supply to the entire Kalimantan region, including East Kalimantan where Indonesia’s new capital, Nusantara, is being developed.

Sarawak already holds a 25 percent stake in a hydroelectric plant in East Kalimantan, which is essential for powering the area. Abang Johari added that Sarawak is collaborating with Indonesia to explore further economic opportunities.

“We are also planning to have a newer international airport in Kuching that will complement what we can do for Borneo,” he noted, emphasising that Nusantara is just a 30-minute flight from Kuching.

“As far as our relationship with Indonesia goes, with West Kalimantan particularly and the rest of Kalimantan, there is a common platform between Indonesia and our side, and it’s doing quite well,” he concluded.

Source: Malay Mail

Sarawak’s bid to become Malaysia’s Bavaria: Abang Johari’s vision for economic growth

Bilateral trade between China and Malaysia surged to US$117.52 billion (US$1 = RM4.30) in the first seven months of 2024, a 10.8 per cent increase compared with the same period last year, said Chinese Ambassador to Malaysia Ouyang Yujing.

Additionally, China’s non-financial direct investment in Malaysia grew substantially to US$1.28 billion, marking a year-on-year rise of 28.8 per cent, he said.

During this period, the ambassador said tourist arrivals from mainland China to Malaysia surged to 1.8 million, representing a 160 per cent increase, with nearly 450 flights per week now connecting the two countries, surpassing pre-pandemic levels.

Speaking at a dinner celebrating the 75th anniversary of the founding of the People’s Republic of China, Ouyang emphasised that this year marks a historic milestone as China and Malaysia celebrate 50 years of diplomatic relations.

Under the strategic guidance of the leaders of both nations, the construction of the China-Malaysia community with a shared future is making solid progress, he said.

The event was also attended by Transport Minister Anthony Loke Siew Fook, Minister of Tourism, Arts and Culture Datuk Sri Tiong King Sing, Human Resources Minister Steven Sim, Youth and Sports Minister Hannah Yeoh, Minister in the Prime Minister’s Department (Religious Affairs) Datuk Dr Mohd Na’im Mokhtar, as well as other diplomats, Chinese community leaders, and business representatives.

Reflecting on the past 50 years, Ouyang said the healthy and stable development of China-Malaysia relations is rooted in mutual respect and trust.

“They are the mutual respect and trust rooted deeply in our commitments to embarking on our journey together, our adherence to independent foreign policies advocating peace, development and justice, and our sincerity and integrity in treating each other as genuine friends,” he added.

Ouyang said this transitional period offers an opportunity to draw strength from the past and to write a more brilliant chapter for the future of China-Malaysia relations. 

Source: Bernama

China’s direct investment in Malaysia soars 28.8pc, trade climbs 10.8pc in first seven months of 2024

Malaysia will be leveraging on the National Semiconductor Strategy (NSS) to build on its strengths in the back-end process and outsourced assembly and testing or Osat component of the global industry value chain, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

The Investment, Trade and Industry Minister said this is integral to the country’s advance towards higher-value activities such as integrated circuit design, advanced packaging and equipment manufacturing.

He was speaking at the Invest Malaysia 2024 (IM2024) in Hong Kong, which was hosted by stock exchange regulator Bursa Malaysia as part of the latter’s Invest Malaysia series for this year.

Tengku Zafrul, who officiated the event, said the NSS will sharpen the local semiconductor sector’s competitive edge, while the Green Investment Strategy (GIS) will be keyed to attract sustainability-themed investments in propelling the nation’s resilient growth.

He pointed out, “The Investment, Trade and Industry Ministry understands that investors – whether in industries or in our stock market – are looking for two key criteria: clarity of policies, and strength of implementation of those policies.

“Our efforts on both fronts appear to have paid off, judging from the 18% increase in approved investments for the first half of 2024, and the 12.7% rise in our equities market in the past year. Coupled with our strong economic fundamentals, Malaysia is fast becoming the preferred regional destination for high-quality investments under the Madani economy framework.”

Bursa Malaysia said in a statement yesterday the IM2024 in Hong Kong was focused on the investment opportunities available under the NSS and GIS.

Both strategies, the bourse added, are aimed at enhancing Malaysia’s long-term industrial resilience and sustainability, while positioning the country as a regional leader in green manufacturing and technology.

It said this would, in turn, make Malaysia a more competitive trading nation.

Source: The Star

NSS and GIS key to move M’sia up the value chain

Malaysia’s history will be lacking without talking about its foreign policy where it needs, in modern times, to navigate the ongoing tensions between the US and China.

Post-independence, Malaysia formed diplomatic relations with the US in 1957 and China 1974. This enabled Malaysia to pursue economic opportunities with both superpowers, its largest trading partners.

According to Malaysia External Trade Development Corp, China continued to be the country’s largest trading partner in 2023 for 15 consecutive years since 2009, taking up 17.1 per cent share of the total trade.

As for the US, it is the third largest trading partner since year 2015, and made up 9.5 per cent of the total trade last year.

Balancing Act

As a highly open economy, Malaysia’s neutral foreign policy helps it to navigate between US and China rivalry, although maintaining it becomes increasingly complicated.

Samirul Ariff Othman, an international relations analyst and a senior consultant with Global Asia Consulting, said Malaysia is walking on a tightrope in its international relations, balancing the East and the West, navigating between the US and China with a mix of strategic ambiguity and economic diplomacy.

“It is a careful dance, one that allows Malaysia to maintain relationships with both superpowers while not fully committing to either, enabling it to draw economic and security benefits from both directions,” he told Business Times.

Samirul, who is also an adjunct lecturer at Universiti Teknologi Petronas (UTP), said China poured its money into infrastructure projects like the Belt and Road Initiative, and pushed Malaysia closer into its orbit.

At the same time, Malaysia keeps one hand firmly on the US, one of its top investors and trade partners, particularly in high-tech sectors, and a key player in the nation’s defence strategy.

“The beauty of this hedging strategy keeps Malaysia relevant, flexible and open to opportunities on both sides of the geopolitical divide.

“By being non-aligned, it managed to attract foreign investments from both countries, keeping the economy diverse and resilient in the process,” he said.

However, Samirul said the growing rivalry between the US and China puts Malaysia in an increasingly difficult spot, with each superpower expecting loyalty that it cannot afford to give.

“As long as Malaysia can keep this balancing act going, it remains a key player in Southeast Asia. But if the tightrope snaps, it could be forced into difficult choices that risk its autonomy and economic future,” he added.

Nusantara Academy for Strategic Research senior fellow Dr Azmi Hassan said despite its small size, Malaysia has been influential on the international stage, especially within Asean and Indo-Pacific region, thanks to hedging strategy.

“We have been very neutral and never distancing ourselves from these two superpowers. But at the same time, we are not trying to be too close to either side. So I think we have been very successful not only in terms of geopolitics, but also economic matters with both countries,” he said.

Leveraging the influence, Azmi said Malaysia has been vocal on certain international issues, including about Palestine since independence and issues related to humanity.

“We are willing to go against superpowers so that our neutrality and responsibility as a nation can be heard,” he added.

Future of Malaysia’s international relations

Ever since Prime Minister Datuk Seri Anwar Ibrahim revealed the plan to join BRICS grouping last June, it has gained domestic and international interests.

BRICS is an intergovernmental bloc of the south. The name was derived from the first five members: Brazil, Russia, India, China and South Africa.

Iran, Egypt, Ethiopia, and the United Arab Emirates joined the informal organisation on Jan 1 this year.

Malaysia joining BRICS will be an opportunity to leverage the Global South economies and ensure that fair trade practices are maintained.

The international financial infrastructure also is not monopolised by one country or one region.

Azmi said the move is good for a more multipolar world while not causing much impact to Malaysia’s relationship with the US.

“BRICS gives a balanced view due to the current situation where most of the established international platforms, such as the International Monetary Fund and World Bank, are controlled by the Western developed nations. Hence, BRICS is trying to balance out this particular monopoly,” he said.

While entering BRICS goes against the norm of the international community, Azmi said this may strengthen the nation’s influence rather than siding to one side.

“We want to be friendly  to all superpowers although they are not friendly with each other,” he said.

Dr Mohd Ramlan Mohd Arshad, a senior lecturer at the Faculty of Administrative Science and Policy Studies in UiTM, said Malaysia relationship with the US may face some difficulties but there will not be a major issue since the former always open for negotiations.

“Joining BRICS does not mean Malaysia becoming Russia-China alligned or inclined towards these countries given that it is purely for economic purpose.

“Malaysia cannot work in silo, we have to deal with global competitivenes issue. To remain competitive, and attract investors and fund managers, we need to diversify our economic cooperation,” he said.

According to Mohd Ramlan, the country had previously signed an agreement in Asia Pacific Economic Cooperation, thus BRICS is just a new economic cooperation.

He added that BRICS has good future and economic opportunity if the union is managed wisely while not affecting the US, especially in Southeast Asia.

“BRICS needs cooperation from countries in Asean. With Singapore remaining close to the US, Malaysia can be the best option for BRICS,” he said.

Besides BRICS and cooperation with countries in the Global South, Mohd Ramlan said good government-to-government relationship with the US will maintain Malaysia’s good relationship and networking with Western countries.

“I believe the government will also focus on cooperation with the Middle East as we know the Prime Minister has strong ties with Arab countries, and we can see this from the action on the Palestine issue where Malaysia works with the Middle East countries.

“Additionally, Malaysia as the Asean chairman (next year) will improve our regional cooperation and understanding,” he added.

Source: NST

Malaysia to benefit from “neutral” foreign policy amid US-China rivalry

The Pahang and Perak state governments are ready for large investments from China in the halal industry by preparing and developing the infrastructure in the respective states’ halal hubs.

This includes providing sites to build factories and farms, infrastructure facilities and a skilled workforce to attract investors in the halal industry, which will also improve the economy and revenue of the two states.

Pahang Menteri Besar Datuk Seri Wan Rosdy Wan Ismail said the state offers various initiatives and strategic locations to develop the halal industry, including halal industrial parks, halal logistics hubs and ports that are halal compliant.

He said the strategic locations offered to investors include the 304-hectare Gebeng Halal Hub, the Gambang Halal Hub (68.4 hectares) and Bentong Halal Hub (14.7 hectares)

“Chinese halal industry investors have shown their sincere interest in investing (in Malaysia), especially in Pahang. They wish to obtain more information, for example, on land and other (investment) procedures.

“I have instructed the local authorities in the state, district and land offices to reduce bureaucratic procedures. We want all matters to be expedited and not lengthy processes,” he told Malaysian media at the Malaysia-China Halal Business Forum here yesterday.

Last night, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said Malaysia would benefit from potential new investments from China in the halal industry worth RM4 billion through the forum, which was attended by more than 30 halal industry players from Malaysia and China.

Ahmad Zahid, also the chairman of the Halal Industry Development Council (MPIH), said major investments from China cover various sectors, including herbal medicine, food and beverages, vaccines, cosmetics, and pharmaceuticals.

Meanwhile, Perak Menteri Besar Datuk Seri Saarani Mohamad said the state government is developing the 57.8-hectare Perak Halal Industrial Park (HIP) along the strategic West Coast Expressway near Lekir, and the first phase is expected to be in operation in early 2025.

He said the halal park’s strategic location and facilities would enable local and foreign investors to construct factories or farms for halal products.

Saarani said in a meeting that Chinese investors were provided with explanations on offers and guarantees from the state government to grow the halal industry.

“The sites (in Perak HIP) are there. If larger sites are needed (by investors), land belonging to the State Secretary Incorporated (SSI) can be transformed into industrial areas.

“There are also private land owned by individuals interested in collaborating to prepare areas for investors to build their factories,” he said.

Saarani added that a halal product company is interested in investing in Perak with a RM20 million investment.

The menteri besar said this foreign investment would significantly benefit Perakians, especially by offering job opportunities to the youth.

“Apart from improving the state economy, Perak’s participation in the halal forum is in line with the government’s goal to spur the halal industry’s growth, which is becoming more important at the international level,” he added.

Source: Bernama

Pahang, Perak ready for Chinese halal industry investments, which will spur state economies

Malaysia has steadily attracted foreign direct investment (FDI) while contending with stiff competition from regional players such as Vietnam and Singapore.

KRA Group political risk consultant and director of strategy, Amir Fareed Rahim, noted that while competition persists, recent figures indicate that Malaysia continues to hold a prominent position on the global investment radar.

“In the first half of 2024, the country secured RM160 billion in investments, marking an 18 per cent year-on-year increase, driven by its strong economic fundamentals.

“Low inflation (2.0 per cent), stable interest rates (3.0 per cent) and consistent unemployment figures (3.3 per cent) have made Malaysia an appealing destination for investors,” he told Bernama.

He noted that, crucially, over half of these investments were allocated to sectors identified under the National Investment Aspirations (NIA), with RM60.1 billion directed towards the manufacturing sector.

“This boost is expected to create over 33,000 high-value jobs in management, technical and skilled labour positions.

“The global semiconductor upcycle has played a role in this growth, but Malaysia’s robust ecosystem and government policies have also been instrumental in attracting investors to this key industry,” he said.

Amir emphasised that to build on this momentum, the government must focus on maximising the spillover effects of these investments to ensure that local industries, particularly micro, small, and medium enterprises (MSMEs), benefit from the growth.

“This will not only help the economy but also foster inclusive development, a key measure of success.

“The Malaysian government’s clear economic priorities, supported by blueprints like the New Industrial Master Plan (NIMP) 2030 and the National Energy Transition Roadmap (NETR), continue to provide investors with confidence in Malaysia’s long-term growth trajectory,” he said.

Amir stressed that developing a strong talent pipeline is crucial for sustaining future growth.

“Positioning Malaysia as a research and development hub for industries such as electronics and electrical engineering is key.

“This will require continued investment in world-class universities and research centres that blend local and international expertise,” he said.

Regarding geopolitics, Amir observed that Malaysia’s neutrality in foreign policy is increasingly viewed as an asset in a fragmented global landscape, helping to maintain investor confidence.

“Domestically, achieving the RM11.5 billion savings target from subsidy rationalisation without political backlash will be a test of the government’s ability to navigate delicate issues,” he said.

With Malaysia set to chair the Association of Southeast Asian Nations (ASEAN) in 2025, Amir highlighted that the focus would be on leveraging strengths in the digital economy, green technology and manufacturing.

“Maintaining political stability and consistent policy messaging will be crucial in attracting long-term investment.

“As Malaysia positions itself as a stable, transparent, and business-friendly economy, its strategic foreign policy and trade positions will play a pivotal role in sustaining investor confidence and driving future growth,” he added. 

Source: Bernama

Malaysia continues to shine in attracting FDI despite regional competition

Malaysian and foreign investors looking to leverage Malaysia’s investment ecosystem will be “right on the money”, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

The Investment, Trade and Industry Minister said the country’s solid economic indicators and policies have made it a prime investment destination, as well as its influential position in the Asean region.

He said the Malaysian economy is firmly back on track for a strong and steady growth.

“The economy has expanded strongly, registering Gross Domestic Product growth of 5.1% in the first half of 2024, supported by domestic demand, investment and exports,” he said.

He also noted that approved investments hit a record high of RM329.5bil last year; and from 2021 to 2023, approved foreign investments accounted for almost 62% of total approvals.

This was a reflection of foreign investors’ confidence, he said at the 17th World Chinese Entrepreneurs Convention yesterday.

Moreover, he said that Malaysia intends to strengthen the region’s centrality and neutrality, so that more investments and trade will flow into this region.

He said Malaysia will continue to place emphasis on Asean’s peace, prosperity and security, particularly during its chairmanship next year.

Investors, he said, wanted peace-loving partners, which is the very quality that the Asean region has.

He told investors to “look no further than Malaysia” as it is a country that values peace in supporting global trade.

“Malaysia may be physically small in relation to other countries and some of our neighbours, but we have a big enough voice, and most importantly, we have principles when it comes to taking a stand,” he added.

He highlighted the country’s growing prestige as a leading economy in Asean and Asia, placing it in a good stead to strengthen the region’s position globally.

“Asean holds the key to securing global supply chains, and many are looking for a seat at Asean’s table.

“During its chairmanship, Malaysia intends to optimise this growing influence carefully to enhance Asean’s role in global affair, to the advantage of many, and not just a few,” he said.

According to him, Asean is the world’s fifth largest economic bloc by GDP, with a GDP of US$3.8 trillion and 380 million population.

Its rising middle class and market size make it one of the most valuable markets by global standards, he added.

Source: The Star

Zafrul: Malaysia, the prime destination to invest

The government is willing to listen to constructive input on fostering a conducive environment for investment and innovation, says Prime Minister Datuk Seri Anwar Ibrahim.

He said the enhancement of Malaysia’s economic landscape will continue to be a priority under the Madani Economy Framework.

“We craft policies but you can advise what else needs to be done to foster an environment that is conducive to investment and innovation.

“We are not here to say that this is a perfect system or policy.

“We are here to govern, learn and make the necessary adjustments,” he said in his address at the 17th World Chinese Entrepreneurs Convention (WCEC) here on Tuesday (Sept 10).

He also said better housing, education, health and infrastructure for Malaysians can be ensured by achieving economic success.

“This is what we mean by inclusivity – a policy that helps promote economic growth and caters for the people’s welfare,” he added.

The Prime Minister also commended business groups, highlighting the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) leadership for its concern, empathy and support for the government and its policies.

On Malaysia’s diversity, Anwar said the choice was whether to use it as a strength or to sow discord and differences.

“Fortunately, for decades, Malaysians have chosen to work together regardless of (ethnic background).

“We are all Malaysians,” he said to loud applause from the delegates.

He also praised the various ethnic communities, saying the vast majority chose to work together to build a better Malaysia and ensure that the country excels.

The 17th WCEC, which is on until Wednesday (Sept 11), is seeing the participation of more than 4,000 local and foreign delegates.

Source: The Star

Govt open to constructive input on investment, innovation policies, says PM

The 17th World Chinese Entrepreneurs Convention (WCEC) is anticipated to boost trade and investment activities, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said the convention provides an excellent platform for global entrepreneurs to collaborate, particularly during challenging times.

“What we expect is when the business community get together, they are bound to have business deals and collaboration that will increase trade and investments,“ he told the media following the convention’s launch, today.

Earlier, Prime Minister Datuk Seri Anwar Ibrahim delivered the keynote address at the 17th WCEC, highlighting the longstanding bilateral relations between Malaysia and China, which are bolstered by strong trade and investment ties.

The three-day convention, organised by The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM), took place at the Kuala Lumpur Convention Centre and drew over 4,000 participants.

Source: Bernama

WCEC expected to drive increased trade, investment- Tengku Zafrul

Prime Minister Datuk Seri Anwar Ibrahim said on Tuesday that the Malaysian government is willing to learn and adapt from China to foster a conducive environment to strengthen investment in the country.

Anwar said while the policies have been implemented under the Madani framework, the government remains open to suggestions for further improvements.

“We are not here to suggest that this [Malaysia] has a perfect system and policies. We are here to govern and to learn and make the necessary adjustments [to our policies],” Anwar said in his keynote speech at the 17th World Chinese Entrepreneurs Convention (WCEC).

“You (China) advise us (Malaysia) what else needs to be done to foster an environment that is conducive to investment and innovation,” Anwar said.

The prime minister stressed that Malaysia and China have enjoyed a long-standing bilateral relationship, underpinned by robust trade and investment ties.

“We believe that a stronger bond and strategic relations with China would not only help Malaysia but the region immensely, and we will continue to embark on that policy,” he said.

He noted that China remains Malaysia’s largest trading partner for 15 consecutive years, and the fifth largest foreign investor in 2023, with total trade reaching US$98.80 billion (RM450.84 billion).

“The visit of Chinese Premier Li Qiang in June this year reaffirmed the enduring friendship and mutual respect between Malaysia and China,” Anwar added.

Li’s official visit to Malaysia in June saw a total of 14 memorandum of understandings and agreements (MOUs and MOAs), protocols and joint statements involving nine Malaysian ministries exchanged between China and Malaysia.

Source: The Edge malaysia

Anwar: Malaysia open to learn from China on fostering investments

Malaysia and China have laid a solid foundation for the enhanced collaboration in new key and innovative sectors that will drive the nations’ economies forward, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar, who is also the Finance Minister, said that both countries have enjoyed longstanding bilateral relations underpinned by robust trade and investment relations.

He pointed out that the visit of Chinese Premier Li Qiang in June this year has reaffirmed the enduring friendship and mutual respect between Malaysia and China.

“The visit witnessed the signing of the Second Cycle of the Five-Year Programme for Economic and Trade Cooperation and the Memorandum of Understanding on Strengthening Investment Cooperation in Digital Economy and Green Development, between both countries,” he said in his keynote address at the 17th World Chinese Entrepreneurs Convention (17th WCEC) at the KL Convention Centre today.

Anwar said that last year, China remained Malaysia’s largest trading partner for the 15th consecutive year, with total trade reaching US$98.80 billion (RM430 billion).

On the investment front, China is the fifth largest foreign investor in Malaysia for 2023, contributing US$14.5 billion.

Meanwhile, Anwar said that the government has always recognised the contribution of the Malaysian Chinese community in the country’s socioeconomic developments, in the economic, cultural, educational and industrial sectors.

“Under the Madani Economy Framework, I can assure you that we will continue to prioritise the enhancement of our economic landscape, fostering an environment conducive to investment and innovation,” he added.

He said Chinese entrepreneurs have collaborated closely with others and have laid the foundations for forging deeper and stronger business and economic links across national borders.

Globally, they could also assume a bigger role in safeguarding regional economic cooperation, ensuring the security of crucial supply chains and promote our global socioeconomic development agenda.

Source: Bernama

Malaysia, China strengthen ties with focus on digital economy and green development, says PM Anwar

Malaysia remains in a sweet spot to reassert itself as a compelling alternative location for foreign direct investments looking for diversification and reconfiguration of supply chains, says Tan Sri Low Kian Chuan.

The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) president said the time has come for Malaysia to showcase itself as a land of opportunities to investors worldwide, backed by pragmatic economic policies, conducive business ecosystems and favourable investment climates.

Low, who is the 17th World Chinese Entrepreneurs Convention (WCEC) organising chairman, said the Madani government led by Prime Minister Datuk Seri Anwar Ibrahim, had also laid out national strategic plans and roadmaps to uplift Malaysia towards becoming a regional economic powerhouse.

“We believe that economic reforms and other key aspects will power Malaysia to the next level of economic resurgence,” he said in his address at the 17th WCEC opening ceremony here on Tuesday (Sept 10).

Low highlighted thriving investment opportunities for both domestic and foreign investors in high-growth high-value industries.

This includes semiconductors, AI, EV, data centres, green investment and technology start-ups, renewable energy, smart agriculture, and halal food industries.

Reflecting on the 17th WCEC theme “Reimagineering the Future”, Low said it is most apt as businesses are operating in new realities and demands.

“In a divergent environment of complexity, disruptive technology, divergent economic policies, geoeconomic fragmentation and climate change, innovation, creativity and adaptation are key,” he said.

He also said government leaders and businesses need forward-thinking ideas, solutions and coordinated efforts to build a better future.

“By synergising, sharing knowledge, leveraging on each other strength with a combined experience, chambers of commerce can help their members to progress forward and achieve common goals,” he said.

Low also said the ACCCIM will continue being the leading advocate of business interests, working with the government to navigate local and global challenges and support the business ecosystem.

The 17th WCEC saw participation from more than 4,000 local and foreign delegates.

Source: The Star

Malaysia in ‘sweet spot’ for FDIs, says Chinese chamber president

Malaysia has received recognition from the United States for its cooperation in facilitating investment in the country by aircraft manufacturer Boeing.

Prime Minister Datuk Seri Anwar Ibrahim in his speech during the Public-Private Partnership Master Plan 2030 (Pikas 2030) launch said the appreciation was conveyed by US Secretary of Commerce Gina Raimondo in a letter.

“Coincidentally, this morning, I received a letter from the US Secretary of Commerce expressing high appreciation for our cooperation, which has enabled them to invest through Boeing in Kedah.

“This is because they have confidence in our policies, even though there are occasional concerns about a slight shift in our foreign policy.

“I emphasised that our independent and sovereign foreign policy, like Malaysia’s, should remain free. Some refer to ‘centrality’ as the cornerstone of our foreign policy, taking a more pragmatic approach,” he said.

Anwar also said Malaysia was fortunate to receive greater recognition from foreign nations compared with before.

“While we are engaging with China due to its current strong capabilities and its recent developments with Russia in areas such as space, energy and nuclear technology, which are advancing rapidly, we continue to maintain strong ties with our traditional friends, including Asean, Europe and the US,” he said.

Previously, it was reported that Boeing had relaunched its manufacturing facility as Boeing Composites Malaysia which provides composite products and sub-assemblies for all of its commercial airplane models including the 737 MAX and 787 Dreamliner.

This comes after the aircraft manufacturer fully acquired Aerospace Composites Malaysia in December last year, a joint venture with Hexcel Corporation. The renamed facility is Boeing’s first wholly-owned manufacturing facility in Southeast Asia.

The site employs an all-Malaysian workforce of approximately 1,000 people.

As part of its initiative to recognise Malaysia’s growing capabilities in the sector, Boeing also announced a higher education grant of RM44,000 to the National Youth Skills Institute in Jitra, Kedah.

The grant aims to train 30 students in machining and fabrication technology, while also guiding them towards employment opportunities in the aerospace industry.

Source: NST

US praises Malaysian cooperation in facilitating Boeing’s investment

Prime Minister Datuk Seri Anwar Ibrahim said Malaysia enjoys better international recognition now due to strategic cooperation with major powers such as China and Russia.

Anwar, who is also the finance minister, said the cooperation does not affect existing relations with Malaysia’s traditional trading partners, including Asean, Europe and the United States (US).

“Even though we are approaching China because of China’s capabilities and economic strength and updating relations with Russia because of Russia’s capabilities in several fields of technology (such as) aerospace and nuclear energy which is much faster, we remain friends with our traditional friends which include Asean, Europe and the United States,“ he added.

He said this when speaking at the launching ceremony of the Public-Private Cooperation Master Plan 2030 (PIKAS 2030) here today. The ceremony was also attended by Deputy Prime Minister Datuk Seri Fadillah Yusof, Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani, Chief Secretary to the Government Tan Sri Shamsul Azri Abu Bakar and Selangor Chief Minister Datuk Seri Amirudin Shari.

Anwar said recognition of the country continued to be strengthened when the United States, through a letter from Trade Secretary Gina M. Raimondo today, expressed appreciation for Malaysia’s cooperation that allowed them to invest through US aeroplane maker Boeing. “This (appreciation) is because they are confident in our policy capability even though sometimes, some are worried because there is a slight shift in terms of foreign policy,“ he said.

On Aug 29, Boeing renamed its manufacturing facility in Bukit Kayu Hitam, Kedah, as Boeing Composites Malaysia. It was reported that Boeing had fully purchased Aerospace Composites Malaysia Sdn Bhd, a joint venture with public industrial materials company Hexcel Corporation, in December 2023.

The facility provides composite products and sub-assemblies for all Boeing commercial aircraft models, including the 737 MAX and 787 Dreamliner, and is Boeing’s first wholly-owned manufacturing facility in Southeast Asia. Boeing employs about 1,000 people, who are all Malaysians, to work at the facility.

Anwar emphasised the concept of centrality as a main pillar of foreign policy that needs to be followed up with a pragmatic approach to ensure the focus is on national peace and security. He also highlighted the need to equip “our young people (with) skills, especially in some new disciplines including artificial intelligence, digital and energy transition.”

Source: Bernama

Malaysia enjoys better international recognition now due to strategic cooperation with China, Russia – PM Anwar

Sabah is determined to push the investment momentum from China and to ensure the state will remain an attractive destination for investments, said Chief Minister Datuk Seri Panglima Haji Hajiji Haji Noor.

He said Sabah’s economic ties with China are driven by strong trade, investment and collaborative projects across sectors.

“For the manufacturing sector, our state has received RM3.07 billion in investments from China to date, which have created 3,086 jobs. These investments involved solar glass manufacturing, silica and processing, food manufacturing, rubber, wood-based and plastic products.

“I have stressed from the onset that we are investor-friendly, and we will ease all hurdles to facilitate investments. In this respect, Sabah also looks forward to increased cooperation with China in green energy, manufacturing, high-technology agriculture, and smart city construction, among other areas, to promote mutual benefits and win-win partnerships,” he said.

“The cooperation between Malaysia and China has advanced significantly, with both countries continuously working together to promote mutual interests, and I am confident that this partnership will continue to flourish,” he said at the opening of the Seventh Global Longchuan Association Conference, the first to be hosted outside of China at the Sabah International Convention Centre, here on Sunday.

Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe delivered his speech.

The Chief Minister said the energy sector presents significant opportunities, and while oil and gas remain important revenue streams for Sabah, “we welcome investors to also explore the Blue Economy, solar and storage technologies, hydro, geothermal and carbon market opportunities.”

“I am pleased to know that we have participants of various backgrounds, including entrepreneurs, with us here today. We encourage you to learn more about Sabah and its investment potential and welcome all of you to invest here,” he said.

The Chief Minister said in addition to strong bilateral relations, the other aspect worth mentioning was the strong family ties the Longchuan clan has in common with Sabah.

“There is a very large Longchuan community here in Sabah with over 100,000 people of Longchuan origin.

Many of you have relatives here too, and I am sure that will make your visit to Sabah so much more meaningful.

“Thank you to Dr Wu Huiquan, the Global Longchuan chairman and his board members for choosing to host this conference in Sabah. Thank you too to Mr Chong Su Leong, president of the Malaysia Longchuan Association and your Central Committee members for inviting me to address this conference,” he said.

Source: Borneo Post

Sabah determined to push investment momentum from China – CM

United States ambassador to Malaysia Edgard D. Kagan said American investors view Malaysia as an attractive investment destination despite the two governments’ differing views on the Gaza conflict.

He said the crisis should not overshadow the countries’ strong relationship, which dates back 67 years.

“We understand Malaysians feel very strongly about the Gaza conflict, and are disappointed or unhappy with the US.

“My view is that Malaysians are disappointed and unhappy with what the US is or is not doing in Gaza, but that there is still a lot that we agree on,” he said in an exclusive interview with the New Straits Times.

Kagan said Boeing’s investment in its first manufacturing plant in Bukit Kayu Hitam here is a significant milestone in the US-Malaysia economic relationship.

“Boeing’s decision was driven by its appreciation for workforce quality and ability to do well in Malaysia.

“They’ve expanded production at this facility and moved up the value chain.

“To me, the significance of this is a sign that a world-class company is choosing to significantly increase its footprint in Malaysia.”

Kagan hoped to see more US aviation players follow Boeing’s move.

“I think one of the best things you can do to attract companies is to show that the companies that are here are doing well, that they’re happy, that they feel
that they have outstanding talent.

“I think that seeing that Boeing has decided that Malaysia is a good place to bet for the long term and to invest for the long term, that will make it easier to attract other companies.”

Kagan hoped the US-brokered ceasefire in Gaza, with the assistance of Qatar and Egypt, would bear fruit soon.

Source: NST

‘US investors keen on Malaysia despite Gaza war views’

Economic growth, an increase in investment, exports and job opportunities as well as continuous low inflation are among the fundamentals that will help Malaysia to move forward as a rapidly developing country, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

With these features in place, coupled with political stability, the government will then be able to focus on developing the country, he said.

“These are excellent features to have as we continue to develop from an economic point of view, and with a robust economy, the people’s social standing can then improve.

“We will then be able to focus on the existing political stability to continue to develop and improve the economy for the well-being of the people,” he told reporters after launching participants at the Duo Highway Challenge 2024 run here today.

He said this in response to the speech by Sultan Ibrahim, the King of Malaysia, in which His Majesty expressed his joy about the state of the Malaysian economy and the country’s improved trade performance.

His Majesty also hopes that the government will continue to work to stimulate the national economy,  create more job opportunities and raise the income and living standard of the people.

Sultan Ibrahim said this at the investiture ceremony during the conferment of awards, medals and honours in conjunction with His Majesty’s official birthday on Saturday.

Fadillah, who is also the Energy Transition and Water Transformation Minister, said Malaysia is among the countries that recorded excellent economic growth despite the global economic uncertainty, as evidenced by 5.9 per cent gross domestic product (GDP) growth in the second quarter of 2024 against 4.2 per cent in the same period a year ago, he said. 

Source: Bernama

Fadillah: Malaysia has good fundamentals to continue economic growth

The government will continue to intensify efforts to ensure a stable country with a conducive and business-friendly ecosystem, said Prime Minister Datuk Seri Anwar Ibrahim.

He said the government’s continuous measures to improve governance, fight corruption and focus on high-value investments, are increasingly successful in creating high-income jobs for more people.

“Thank God, the country continues to be in a better position. The country’s economy has shown strong growth with a rate of 5.9 per cent in the second quarter of 2024.

“Apart from that, the recent recovery of the Ringgit against the US dollar and other major currencies, together with the rapid rise of the FBM KLCI this year, also shows investor confidence. This is clear evidence that the policies implemented by the MADANI Government have yielded positive results, Alhamdulillah, “ he said, adding that the country is now one of the preferred destinations for global investment.

He said this while speaking at the Investiture Ceremony in conjunction with the official birthday celebration of the King of Malaysia, Sultan Ibrahim today.

Meanwhile, Anwar said the government realises that growth figures are meaningless if the results do not flow to the people.

Thus, he said the goal to be achieved through the MADANI Economy framework is a more equitable socio-economic society with people’s incomes increasing, reducing the cost of living and expanding the social safety net.

“His Majesty’s government will continue to work hard to increase access to quality education, health infrastructure and affordable housing so that the people can enjoy a more comfortable life,“ he said.

Representing the government and the common people, Anwar also congratulated the King of Malaysia in conjunction with his Official Birthday and prayed to Allah SWT that His Majesty and Her Majesty, Raja Zarith Sofiah, the Queen of Malaysia and the entire family be blessed with Allah SWT’s grace.

“Indeed, as a Constitutional Monarch, His Majesty’s role is very important in preserving the stability and harmony of the country. His Majesty is the umbrella of unity and the protector of the nation’s integrity.

“His Majesty’s decrees in advising the government, often reflect His Majesty’s wisdom and concern for the welfare of the common people,“ he said.

Anwar on behalf of the government and the people also prayed that the country under the reign of the King would continue to be blessed with grace and blessings, free from any calamity and remain peaceful and prosperous.

“May the bond of love between the King and the people remain intact from generation to generation. The government and the people are also requested to pledge their undivided loyalty to His Majesty,“ he said.

Sultan Ibrahim today attended the Investiture Ceremony of the 2024 Federal Awards and Honours at Istana Negara.

It was the first investiture ceremony of His Majesty as the King after he was installed as the King of Malaysia on July 20.

Also present at the ceremony was Her Majesty Raja Zarith Sofiah, Queen of Malaysia.

A total of 116 individuals received the 2024 Federal Awards in conjunction with the official birthday celebration in a ceremony which was broadcast live on national television stations.

Source: Bernama

Govt to continue intensifying measures to ensure nation is stable, business friendly – PM Anwar

Prime Minister Datuk Seri Anwar Ibrahim’s two-day working visit here is a major boost for bilateral ties between Malaysia and Russia.

With several rounds of applause he received from the audience during his keynote address at the plenary session of the 9th Eastern Economic Forum (EEF) on Thursday, Anwar’s visit was undoubtedly, welcomed by the Russians.

Describing the visit as an important one to himself, Anwar, who is on his very first visit to Russia, said this trip has opened up more significant opportunities for the two countries to enhance bilateral cooperation.

He said the bilateral meeting with President Vladimir Putin was also fully utilised not only to enhance trade relations, but also government-to-government (G2G) cooperation, including in aerospace, advanced technology, energy transition, and modern agriculture.

Additionally, topics including the economy, research, education, as well as halal product development and the Islamic finance industry had also been discussed, said Anwar who is the Finance Minister.

Anwar’s presence in Vladivostok to participate in the plenary session of the 9th EEF was at the invitation of the Russian President.

The EEF is an annual economic forum held in Russia’s Far East region, since 2015, to promote investment and economic development as well as international cooperation in the region.

Themed “Combining Strength to Create New Potential”, this year’s forum was attended by high-level foreign and local dignitaries, policymakers, academics, and captains of industries.

The Prime Minister arrived here on Sept 4, accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Aziz, Menteri Besar Selangor Datuk Seri Amirudin Shari, Deputy Economy Minister Datuk Hanifah Hajar Taib, as well as Agriculture and Food Security Deputy Minister Datuk Arthur Joseph Kurup and senior government officials.

Indeed, a wide range of issues were discussed with the host, including Malaysia’s participation in BRICS, ASEAN chairmanship in 2025, Israel’s indiscriminate attacks on civilians in Palestine, and the call for direct flights connecting the two nations.

On BRICS, Anwar said Malaysia is among the countries prioritised for potential BRICS (Brazil, Russia, India, China and South Africa) membership, and Putin had personally extended an invitation to the Prime Minister to participate in the forthcoming BRICS Summit in Kazan, Russia, slated for Oct 22 to 24.

Anwar reassured that joining BRICS would not only allow Malaysia to benefit from the Global South economies but also enable the nation to share its expertise, especially due to its position as a semiconductor hub in the region.

On July 28, Anwar reportedly said that Malaysia had sent an application to Russia to join BRICS and Russian Foreign Minister Sergey Lavrov, who paid a courtesy call on Anwar during his visit to Malaysia that day, also gave assurance that Russia would extend its support to Malaysia’s aspiration to join the intergovernmental organisation.

“Malaysia has sent a letter of application to join the BRICS group to Russia as the BRICS chairman, besides expressing openness to participate as a member country or strategic partner,” he said.

Earlier on June 18, Anwar confirmed Malaysia’s intention to join BRICS to Brazilian President Luiz Inacio Lula da Silva.

BRICS was established in 2009 as a cooperation platform for the largest developing economies, uniting Brazil, Russia, India and China. South Africa joined the group in 2010.

On Jan 1 this year, BRICS expanded its membership to include Egypt, Ethiopia, Iran and the United Arab Emirates.

On Malaysia’s chairmanship of ASEAN next year, Anwar has also extended an invitation to Putin to attend the 2025 ASEAN Summit.

During their meeting, Anwar also assured Putin that, as ASEAN chairman, Malaysia will strive to boost the regional grouping’s collaboration with Russia in all fields.

On the human rights issue, particularly the development in Palestine and Ukraine, Anwar said Malaysia and Russia agreed to demand that Israel stop the violent and cruel attacks on Gaza immediately.

Anwar also urged the world to oppose all forms of colonisation.

While assuring that Malaysia is a friendly country without being dictated by any power, Anwar said Malaysia and Russia should consider introducing direct flights to increase the passage of tourists between the two countries.

According to the Prime Minister, Malaysia received over 100,000 tourist arrivals from Russia last year, and there is a potential to boost Russian tourist arrivals to Malaysia with more flight connections.

Currently, only transit flights via China are available to connect the two countries.

Meanwhile, on the Russian side, Putin reportedly said there are ample opportunities to expand trade relations with Malaysia.

Kremlin.ru reported that Putin also said Russia is expected to find new points of contact with ASEAN when Malaysia becomes ASEAN chairman in 2025.

In 2023, Russia was Malaysia’s 8th largest trading partner among European countries, with total bilateral trade increased by 15.6 per cent year-on-year (y-o-y) to RM14.22 billion (US$3.1 billion), compared to RM12.3 billion (US$2.79 billion) recorded in 2022.

Source: Bernama

PM Anwar’s working visit to Vladivostok a major boost to Malaysia- Russia ties

Malaysia will continue to strengthen economic cooperation with Brazil, particularly in the semiconductor and energy sectors, said Deputy Minister of Investment, Trade and Industry Liew Chin Tong.

He said this after chairing a meeting with the Brazilian Ambassador to Malaysia Ary Quintella to discuss efforts to strengthen the Malaysia-Brazil economic cooperation.

He said the meeting was a preparation for Prime Minister Datuk Seri Anwar Ibrahim’s working visit to Brazil this November.

“During the meeting, the semiconductor sector became a priority for cooperation between Malaysia and Brazil.

“Apart from semiconductors, the two countries also have the opportunity to expand cooperation, especially in the energy sector,” he said in a statement on Friday.

Liew also expressed pride in Malaysian companies such as Petroliam Nasional Bhd (Petronas), Yinson Holdings Bhd (KL:YINSON) and Sapura Energy Bhd (KL:SAPNRG), which have been established in Brazil for a long time and have achieved success at the global level.

“The next step is to explore opportunities for joint research and development in the energy sector, followed by green energy transition,” he said.

Source: Bernama

Liew: Malaysia to continue boosting economic cooperation with Brazil, particularly in semicon, energy sectors

Investments created more than 6,600 jobs within that period

A TOTAL of RM31.38bil has been invested in Penang through the Northern Corridor Implementation Authority (NCIA) with cooperation of the Malaysian Investment Development Board (Mida).

NCIA chief executive Mohamad Haris Kader Sultan said the sum was achieved within the first six months of this year.

He said it was encouraging and evidence of investors’ confidence in the long-term prospects offered by the Northern Corridor Economic Region (NCER) and Penang.

“Investments included focus sectors in the NCER Strategic Development Plan such as the high-value manufacturing sector, advanced services and modern agriculture, which in turn created more than 6,600 job opportunities within that period.

“This good performance will be a catalyst for NCER to continue to drive investment and business ecosystem development for the second half of this year by taking advantage of NCER’s regional advantages, particularly in the electrical and electronic (E&E) and semiconductor sectors,” he said in a statement.

Mohamad Haris said the NCER Technology Innovation Centre (NTIC) building in Bayan Lepas had been completed and would be operational soon.

He said it would directly boost innovation, research and development (R&D) activities as well as increase the value chain for small and medium enterprises (SMEs) to further strengthen Penang’s position as a technology and innovation hub in the region.

“During the first half of 2024, 16 Penang SME companies received matching grants to improve the value chain under the NTIC programme through the Centre of Excellence (CoE) and Technology and Innovation (T&I) initiatives.

“A total of 144 local workers have been approved to undergo technical skills training under the Advanced Technology Meister Programme (ATMP) initiative,” he added.

The NTIC programme under NCER’s Technology Valley initiative focuses on activities related to research, product development and specialised design.

The programme also acts as a platform for large local companies, multinational companies, start-ups, individual technocrats and young entrepreneurs to carry out technological and high value-added activities at NCER and subsequently generate their own Intellectual Property.

Source: The Star

RM31.38bil invested in Penang in six months