From January to September 2024, Malaysia’s halal product exports increased to RM45.04 billion compared to RM39.36 billion in the same period in 2023.

Deputy Investment, Trade and Industry Minister Liew Chin Tong said Malaysia’s ability to dominate the halal market is still constrained by the low issuance of halal certificates by the Malaysian Islamic Development Department (JAKIM).

“Early analysis carried out under Halal Industry Master Plan 2030 (HIMP 2030) estimated the global halal market to be worth RM5 trillion,” he said when winding up the debate on the Supply (Budget) Bill 2025 at the policy stage for the Ministry of Investment, Trade and Industry (MITI) in the Dewan Rakyat today.

Liew was clarifying the issue of the Halal Development Corporation Bhd (HDC) and Malaysia External Trade Development Corporation(MATRADE) merger raised by several members of Parliament from the government bloc.

He said the merger between HDC and MATRADE was justified as part of the effort to increase the export value of halal products and to seek new markets, as MARTRADE has a network of ready markets that local halal industry players can capitalise on.

“MITI believes the merger will increase the HDC-MATRADE synergy and optimise ready resources, especially to promote the halal industry to become more effective and competitive.

“At the same time, efforts to develop a local halal champion to penetrate the export market will be focused on serious industry players,” he added.

Source: Bernama

Malaysia records RM45.04b in halal product exports from January to September 2024 – MITI

Malaysia stands ready for a new era of investment, supported by a clear vision for economic transformation and a commitment to attracting investments aligned with the nation’s high-growth and sustainable future, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

He said the government is committed to making Malaysia a top-tier investment destination, attracting high-value investments, as articulated in the New Investment Aspiration. 

“As announced in the 2025 Budget, the MADANI Economy framework will continue its focus on reinvigorating the economy, driving reforms, and prospering the nation,” he said in his speech at the InvestMalaysia Portal launch today.

Among the growing investment landscape in Malaysia are the National Semiconductor Strategy (NSS), and the National Energy Transition Roadmap (NETR), as well as the New Investment Incentive Framework which is expected to be announced in the first quarter of 2025.

The framework aims to open new avenues for investors, including tax incentives and strategic investment funds.

Additionally, government-linked investment companies have collectively pledged to channel RM120 billion over the next five years in domestic direct investments towards high-growth and high-value industries, he said. 

“Collectively, these reforms were built on the back of our solid fundamentals, strengthening our resilience and maximising the growth potential of local supply chains – positioning Malaysia as an ideal, high-returning, and safe investment destination,” he said. 

Meanwhile, the government has launched the InvestMalaysia portal (www.investmalaysia.gov.my) to provide investors with essential information on investing in Malaysia. 

The portal aims to reinforce Malaysia’s standing as a competitive and appealing investment destination by showcasing opportunities in the country’s financial markets to both domestic and international investors. 

“Investors can obtain comprehensive information on Malaysia’s economic and investment policies, as well as gain real-time insights on not just the investment opportunities that Malaysia has to offer, but also the relevant steps to make the most of them. 

“The portal will also redirect investors to the right path and links to the relevant agencies’ websites based on their investments of choice. Ultimately, the goal is to empower investors to independently assess Malaysia’s economic prospects and explore investment opportunities the country can offer,” he said. 

He concluded that the InvestMalaysia Portal marks a significant advancement in bridging the gap between investment intention and action, simplifying access for investors, and making Malaysia’s investment landscape more navigable and rewarding. 

“Together, the Investor Relations Office and the InvestMalaysia portal would act as navigators for portfolio investors looking to participate in the Malaysian market,” he said.

Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour said the platform is akin to an arbiter of Malaysia’s macroeconomic strength and investment potential.

“In this post-abundance world, often, it is not information that we lack but rather a mechanism to help us decide and evaluate our choices. This effort is imperative for Malaysia as we accelerate structural reforms to strengthen Malaysia’s long-term economic prospects,” he added.

Source: Bernama

Malaysia ready for new investment era with clear economic vision – MOF

Malaysia’s strategic position and appeal as an investment destination, supported by a skilled workforce and government policies, were among the topics discussed by Prime Minister Datuk Seri Anwar Ibrahim with potential Chinese investors today.

Anwar, who is on a working visit to China, began the third day of his trip in Shanghai with a dialogue session organised by Khazanah Nasional Bhd (Khazanah) this morning.

The session brought together two Chinese investors, including representatives from Chengwei Capital, a leading venture capital firm with unique expertise and resources in the global semiconductor industry.

He also met with representatives from NRL Capital, a science and engineering company founded by individuals pivotal in the successful development of high-tech industrial clusters across China.

During the meeting, potential collaborations in technology and innovation investments in Malaysia were explored with the investors.

The investors are expected to partner with Khazanah to develop next-generation Malaysian companies and enhance Malaysia’s role in global supply chains, especially within high-tech sectors.

At the same time, Anwar held a closed-door, one-to-one business meeting with several Chinese companies from the banking, energy and chemical sectors.

This includes Bank of China, SinoChem, SICC Co, SEMCORP and Zhejiang Jiahua Energy Chemical Industry Co.

The prime minister also participated in a roundtable session with 24 ‘captains’ of industry.

Anwar is scheduled to depart for Beijing at 4pm today to visit the Huawei Executive Briefing Centre before a courtesy call with President Xi Jinping tomorrow.

The prime minister’s working visit to China is at the invitation of his counterpart, Li Qiang, to attend the 7th China International Import Expo (7th CIIE) in Shanghai.

For 15 years since 2009, China has been Malaysia’s largest trading partner. 

In 2023, total trade with China was valued at RM450.84 billion (US$98.80 billion), contributing 17.1 percent to Malaysia’s global trade.

As of September this year, the total trade was recorded at RM355.15 billion (US$76.72 billion).

In the first half of 2024, a total of 15 manufacturing projects were implemented with investments totalling RM1.2 billion (US$252.5 million).

Source: NST

Anwar highlights Malaysia’s strategic role as investment hub with Chinese investors

Chinese investors and companies are showing greater interest in Malaysia, said Prime Minister Datuk Seri Anwar Ibrahim.

“This is a very positive development,” he told Malaysian media after a roundtable session with over 20 industry leaders here today.

The Prime Minister said there were discussions on national policies, including on regulations and investment.

“I see rising enthusiasm and interest (shown by investors and companies from China),” he said.

Asked about potential investments secured during his visit, Anwar said: “We will announce the figure tomorrow.”

He started the day by attending a dialogue with Chinese investors, organised by Khazanah Nasional Bhd.

“It has been exhausting as there have been back-to-back meetings since morning, but I think it is beneficial,” he said.

Separately, the Prime Minister’s Office (PMO) said Anwar engaged in several productive discussions with Chinese investors on the third day of his working visit to China.

The investors include Chengwei Capital, a prominent venture capital firm with proprietary global semiconductor expertise and resources; and NRL Capital, whose founders have played instrumental roles in the successful development of hi-tech industrial clusters in China.

The PMO said the discussions anchored on Malaysia’s centrality and its attractiveness as an investment destination given its talented workforce and supportive government policies.

It said Anwar also discussed potential collaborations with these investors with regard to investing in technology and innovation in Malaysia.

“These investors will look at collaborating with Khazanah Nasional in building next-generation Malaysian companies to further boost Malaysia’s prominence in global supply chains, particularly in high technology sectors.

“This will drive the Madani Economy vision of fostering innovation and making technology more accessible and inclusive to all,” the PMO said in a statement today.

Besides attending the dialogue and roundtable sessions, Anwar also met with several companies in one-to-one business meetings.

They comprised representatives from the Bank of China, SinoChem, SICC Co Ltd, Semcorp, and Zhejiang Jiahua Energy Chemical Industry Co Ltd.

He is set to depart for Beijing this afternoon.

He is accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz, and Human Resources Minister Steven Sim Chee Keong.

Anwar’s working visit to China is at the invitation of Premier Li Qiang, to attend the 7th China International Import Expo (CIIE) in Shanghai.

CIIE is a trade fair organised by the China government that provides a platform for countries involved in the Belt and Road Initiative to promote and export goods and services to the country.

For 15 years since 2009, China has been Malaysia’s largest trading partner.

In 2023, total trade with China was valued at RM450.84 billion, contributing to 17.1 per cent of Malaysia’s global trade.

As of September, total trade stood at RM355.15 billion.

In the first half of 2024, 15 manufacturing projects were implemented with investments totalling RM1.2 billion.

This trip marks Anwar’s third visit to China as Prime Minister, after his maiden visit in March 2023 that was followed by another in September the same year.

However, this is his first visit to Shanghai.

His four-day working visit will end in Beijing tomorrow.

Source: Bernama

Anwar sees rising interest in Malaysia among China investors, firms

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz has joined Prime Minister Datuk Seri Anwar Ibrahim in congratulating Donald Trump on his victory in the United States (US) presidential election.

Republican candidate Trump, 78, defeated Democrat Kamala Harris in the 2024 US presidential election held on Tuesday.

Tengku Zafrul in his posting on his ‘X’ platform today said that the US and Malaysia have an enduring economic as well as trade partnership.

“The US has consistently been one of Malaysia’s top trading partners and one of the largest investors in our country. Our people-to-people ties, spanning generations, extend across various areas like education, as well as family and friendships.

“I am keen — especially with Malaysia assuming the 2025 Chairmanship of ASEAN — to work with my counterparts in the new administration to strengthen and add mutual benefit to our relationship, whether on a bilateral or multilateral basis,” he said.

Source: Bernama

United States to remain top trading partner, largest investor in Malaysia – Tengku Zafrul

Prime Minister Datuk Seri Anwar Ibrahim led a Malaysian delegation in one-on-one meetings with four leading companies in Shanghai before continuing his visit to Beijing today.

The Prime Minister, currently in China, said the sessions started with a meeting with a Bank of China delegation led by its chairman Ge Haijiao.

“Our discussion involves opportunities to strengthen Malaysia-China financial cooperation, including local currency trade settlements.

“This was followed by the petrochemical company Sinochem delegation, led by general manager Liu Chun, who expressed their intention to import chemicals for the manufacture of personal care products, cosmetics and the like, in line with Malaysia’s capabilities and strong network of manufacturers and suppliers, especially in the petrochemicals field,” he said in a post on X (formerly Twitter).

Anwar added that the next meeting was with SICC Co. Ltd, a leading semiconductor company that also expressed its intention to expand into Southeast Asia.

The delegation also met with SEMCORP, the world’s largest manufacturer of lithium-ion separator films, which wants to explore establishing a hub to meet the growing demand for electric vehicle components in the region.

“This series of discussions illustrates Malaysia’s growing attractiveness as a competitive investment destination, and the Madani Government wants to continue to attract quality investments, thereby creating more highly skilled jobs,” he said.

This is Anwar’s maiden visit to Shanghai and his third to China.

The Prime Minister made his maiden visit to the country in March 2023, followed by September the same year.

The four-day working visit will end in Beijing on November 7 and is at the invitation of his counterpart Li Qiang to attend the 7th China International Import Expo.

He was accompanied by Foreign Minister Datuk Seri Mohamad Hasan; Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz, and Human Resources Minister Steven Sim Chee Keong.

Source: Bernama

Meetings with companies in Shanghai an opportunity to attract quality investments — PM

Malaysia is set to launch a new investment incentive scheme by mid-2025, that aims to introduce stricter regulations for foreign investors to meet localisation requirements.

Deputy Minister of Investment, Trade and Industry Liew Chin Tong said the ministry is currently working with the Malaysian Investment Development Authority (Mida) and the Ministry of Finance (MOF) to propose the new scheme.

“This aligns with the National Investment Aspirations (NIA), as we will impose stricter rules to ensure that foreign direct investment benefits the local economy,” Liew told the Dewan Rakyat during an oral question-and-answer session on Wednesday.

Liew was responding to Bayan Baru Member of Parliament Sim Tze Tzin, who asked if the government would follow Indonesia’s approach of suspending sales of Apple’s iPhone 16 for allegedly failing to meet domestic content requirements.

In response, Liew stated that Malaysia might not adopt as stringent a measure as Indonesia, given Malaysia’s relatively smaller domestic market compared to the archipelagic state.

Indonesia’s population size exceeds 260 million, while Malaysia’s is just over 34 million.

“In drafting any policy, Malaysia needs to consider both the domestic and international markets,” Liew noted.

Nevertheless, Liew emphasised that under the current policy, Mida requires foreign firms receiving incentives from the authority to adhere to localisation programmes. These requirements include purchasing equipment locally or partnering with local contractors, as part of efforts to boost the domestic economy.

Source: The Edge Malaysia

Liew: Malaysia to introduce stricter localisation requirement for foreign investments

Malaysia should capitalise on the growth opportunities presented by BRICS while addressing the challenges ahead to enhance its competitiveness on the global stage, say industrialists.

Small and Medium Enterprises Association of Malaysia (Samenta) national president Datuk William Ng foresees a significant increase in trade missions, coupled with enhanced diplomatic and economic representation, following the country’s admission as a partner nation of BRICS.

He believes this will lead to greater overall trade and investment opportunities within the international bloc.

“Our inclusion as a partner country is an important first step in that direction. It offers Malaysian businesses greater opportunities in member countries that go beyond free trade agreements.

“It will also reinforce Malaysia’s standing as a non-aligned economy in an increasingly polarised world,” he said.

BRICS, originally comprising Brazil, Russia, India and China, was established in 2009 as a cooperation platform for emerging economies, with South Africa joining in 2010.

The grouping has since expanded to include Iran, Egypt, Ethiopia and the United Arab Emirates.

This year, Malaysia has been one of 13 nations officially added as a partner country to the bloc that collectively accounts for one-fifth of the global trade.

The other 12 are Indonesia, Thailand, Vietnam, Algeria, Belarus, Bolivia, Cuba, Kazakhstan, Nigeria, Turkiye, Uganda and Uzbekistan.

However, none of these countries have achieved full membership yet.

Looking ahead, Ng called for efforts to reduce non-tariff barriers among BRICS member and partner economies to encourage a smoother flow of people and goods.

“One low-hanging fruit to achieve is to negotiate visa-free movement across the bloc, if not for all travellers, then at least for business purposes.

“With the expected greater business exchanges via trade missions and perhaps the ‘upgrading’ of diplomatic and economic representations, we hope to see more trade and investments across the bloc,” he said.

Federation of Malaysian Manufacturers Penang (FMM Penang) chairman Datuk Seri Lee Teong Li said while Malaysia’s participation in BRICS presents exciting new opportunities, it also brings a set of challenges that need to be carefully considered.

“The business community feels cautiously optimistic but recognises the potential benefits and preparations for competitive challenges.

“There would be access to new market and trade opportunities, as BRICS membership could open doors for Malaysian businesses to access new and diverse markets in major economies like Brazil, Russia, India, China and South Africa, which collectively have substantial demand for various goods and services,” he said.

Lee also noted that Malaysia can reduce reliance on traditional trade partners.

“We can expect an increase in foreign direct investment (FDI), with member countries looking to expand in South-East Asia, and this will benefit local industries through capital inflow, technology transfer and job creation.”

He added that if BRICS pursues a shared currency or alternative trade mechanisms, local companies might benefit from lower transaction costs and reduce dependence on volatile currency exchange rates to enhance trade stability.However, Lee said regulatory and cultural differences are aspects to be looked into.

“Entering BRICS markets requires navigating varied regulations, business practices and cultural differences.

“Businesses may need support in these areas to fully capitalise on BRICS opportunities,” he said.

BRICS represents about 40% of the global population and accounts for a cumulative gross domestic product (GDP) of US$26.6 trillion, or 26.2% of the world’s GDP, nearly matching the economic strength of the Group of Seven (G7).

Source: The Star

‘BRICS set to bring more opportunities and competition’

MALAYSIA and China are great friends committed to strengthening their partnership and advancing the region’s economic prosperity, said Prime Minister Datuk Seri Anwar Ibrahim.

During a bilateral meeting with Chinese Premier Li Qiang yesterday, Anwar expressed Malaysia’s deep appreciation for China’s support in various areas, including Malaysia’s participation in BRICS.

“I think things are going exceptionally well. We have expanded into all areas, including cooperation in the economy, education, technical and vocational education and training, military understanding and cooperation in protecting our borders.

“We are now two great friends. I look forward to when I assume the chairmanship of Asean. I hope we can work together to strengthen

Asean-China relations and help grow the Asean economy.”

Anwar thanked Li for visiting Malaysia in June to commemorate the 50th anniversary of diplomatic relations between the two countries.

He said since the visit, discussions on several issues and major investments had progressed at an accelerated pace.

“You spent so much time exchanging ideas with the Malaysian business community, the public and academics.

“For weeks, the media will be covering that you can become a threat to the Malaysian prime minister,” Anwar said in jest.

The bilateral meeting was held on the second day of Anwar’s working trip to China. During the 30-minute meeting, the leaders exchanged views on regional and international issues of mutual concern and interest.

Present at the meeting were Foreign Minister Datuk Seri Mohamad Hasan and Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

During the meeting, several memoranda of understanding were exchanged, including one on cooperation between the Malaysian National News Agency and the China Media Group.

Li’s June visit to Malaysia marked a significant step forward in bilateral relations. It was his first visit to Malaysia since taking office in March last year.

Analysts said the visit would elevate the comprehensive strategic relationship between the two nations to new heights.

Earlier in his keynote address at the opening of the 7th China International Import Expo, Anwar said as the world’s fifth largest economy, Asean had the potential to be the driving force behind inclusive socio-economic growth that leads the way to an unprecedented era of sustainable and shared prosperity.

“As you have seen here in China, where it promotes good governance and combating and rooting out corruption, as well as implementing socio-economic and industrial reform agendas, we are also leaving no stone unturned.

“We continue to be inspired by Premier Li Qiang’s extraordinary success in battling poverty, which clearly signifies a major achievement in social re-engineering.”

Anwar said Malaysia aims to enhance regional cooperation and promote an inclusive role based on the regional framework as it assumes the Asean chairmanship next year.

He said Malaysia would embrace the forward-looking and shared future principles that China championed to organise the Asean Summit.

Source: NST

Malaysia, China ties a boon for region

Several industrial firms in China are eyeing investment opportunities in Labuan, particularly within the island’s financial and development sectors.

Minister in the Prime Minister’s Department (Federal Territories) Dr Zaliha Mustafa emphasised the significance of these interests, underscoring Labuan’s potential as a viable economic hub in Asia.

Dr Zaliha said her recent visit to key Chinese cities – Hangzhou, Shanghai, and Shenzhen – was instrumental in building relationships and fostering investor interest.

“During my visit, we engaged with potential investors who are keen to explore business opportunities in Labuan, particularly in financial and development fields,” she told reporters after the Labuan Para SUKMA athlete incentives presentation here tonight.

Dr Zaliha also stressed the importance of sustained engagement with these interested investors to ensure that proposed ventures come to fruition.

“Follow-ups with these parties are crucial to converting these discussions into concrete business investments that will benefit the island,” she said.

In support of Labuan’s growth, Dr Zaliha said Prime Minister Anwar Ibrahim has designated the island as a priority area within the national agenda to address basic amenities and security improvements.

Dr Zaliha said the Finance Ministry (MoF) has committed to providing funds, either directly or through various ministries, to support Labuan’s socio-economic development.

She also provided updates on several task forces set up to advance Labuan’s tourism, transhipment capabilities and connecting Labuan to Sabah via a bridge.

“The tourism task force is not only focused on enhancing Labuan’s tourism offerings but also aims to improve accessibility for tourists and locals alike.

“The transhipment task force is actively progressing, and the bridge linking Labuan to Sabah’s mainland is advancing with the Works Ministry approving a RM500,000 allocation for an initial feasibility study.

“These task forces are fully operational, and several key discussions have already taken place,” Dr Zaliha said.

Source: Bernama

Chinese investors eye opportunities in Labuan – Zaliha Mustafa