Miti Blog

Ministry of International Trade and Industry Malaysia Official Blog

AEC To Spur Investments From ASEAN Into Malaysia

Posted by admin2 on October 13, 2015 at 3:02 pm


KUALA LUMPUR, Aug 10 (Bernama) — Foreign Direct Investments (FDI) in Malaysia from its ASEAN peers is expected to gain momentum with the ASEAN Economic Community (AEC) becoming a reality from Dec 31 this year.

Minister of International Trade and Industry (MITI) Datuk Seri Mustapa Mohamed said the sustained removal of barriers among the 10-member grouping, had led to an expansion in intra-ASEAN trade and investments, from US$1.22 billion in 2000 to US$24.4 billion in 2014.

“This accounts for 17.9 per cent of the total US$136.2 billion FDI inflows into the region last year,” he told reporters at the AEC Open Day here Monday.

Mustapa said similarly, intra-ASEAN trade accounted for 24 per cent of the total ASEAN trade or US$608 billion.

Meanwhile, ASEAN’s per capita income now stands at US$4,130 with intra-ASEAN trade expected to grow to 30 per cent by 2020.

He also said being the ASEAN Chairman this year, Malaysia wants to prepare local small and medium enterprises (SMEs), as they are the backbone of the national economy.

“The government will continue to provide financial support to SMEs. We have also identified the transportation and finance sectors as needing extra focus and will be working on it,” he added.

He said the AEC blueprint had now achieved 91 per cent of the stipulated target and aims to hit 95 per cent by this November.

“We are working very hard. We have 506 measures altogether, which are being monitored closely. Of course, our objectives are very modest, as we operate by consensus and do not have supra authority.

“I will be chairing the upcoming ASEAN Economic Meeting on Aug 21 and we will review and talk to each other on what can be done between now and November to push the success rate of 95 per cent,” he added.

According to MITI’s senior director for the AEC division P. Ravindran, at 95 per cent, the integration measures mark a notable achievement, as nowhere in the world is there 100 per cent economic integration.

The AEC Open Day is aimed at creating greater awareness and highlight to SMEs, the opportunities available to them under the AEC.


2 comments for this post

Posted on March 12, 2023 at 12:00 pm
 
DATUK YIP KUM FOOK always uses the police to harass Buddhists(devotees) and monks because he is the chairman of MCA Gombak, a lawyer and BUDDHIST TEMPLE SAMNAK SAMBODHI, Taman Desa Jaya, Kepong....and he brings political ideas to play in religious places.

He thinks, he has the power in Malaysia to reject anyone he does not as if in this country, also he must think that this country, Malaysia is a democratic country, rule as a sultan and so on.

Now it's his karma turn and also a lot of bad news on internet social media say about him, he will suffer for the rest of his life, now also many people don't go to temple because people don't like this scammer DATUK YIP KUM FOOK

We hope that the Malaysian Anti-Corruption Commission - MACC will investigate Dato Yip Kum Fook as soon as possible, while Buddhists are not satisfied

Shared by Keong, Jinjang selatan

Posted on January 24, 2017 at 12:48 pm
 
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