NEW DELHI, Jan 15 (Bernama) — India, which has generated a lot of excitement with its steadfast stand in attracting investments and rejuvenating its economy, can be the next engine of growth for the region and the world, said Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed. “India went through a difficult period in terms of growth and inflation, but now there has been a lot of hype on what is happening in the country and it has generated a lot of excitement. “A number of world leaders are also coming to the country and are keen to do business,” he said. India’s gross domestic product expanded below five per cent in the last two financial years, but growth has slowly started to recover and is expected to return to seven-eight per cent trajectory. “We are beginning to see improvement in business climate and of course it cannot happen immediately. It takes a while before the policies and statements are translated into facts and figures but...

NEW DELHI, Jan 15 (Bernama) — India remained an interesting market for investments for the long term, Khazanah Nasional Bhd director for investments in India, Babar Ali Khan, said.

 

“India has always been an interesting market for us. We are always on the lookout for suitable investment opportunities,” he said on the sidelines of a briefing session with Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed, here today.

Khazanah has been investing in India since 2005.

He however declined to give specific sectors that Khazanah is interested to invest in the country.

Among Khazanah’s direct and indirect investments in India now are Infrastructure Development Finance Company, Apollo Hospitals, Hyderabad Airport as well as investments in consumer and pharmaceutical sectors.

NEW DELHI, Jan 15 (Bernama) — India’s Sadguru Polymers Pvt Ltd & Triace Solutions is keen to set up a PVC resin manufacturing plant in Malaysia with an initial investment of between RM6.06 million and RM7.13 million. “This will be our first investment out of India and we would like to invest in Malaysia as it is strategically located for us to source the raw materials,” Sadguru Polymers Managing Director Harinath P. said. “We are looking at Johor for now, but we are keeping our options open as Port Klang is an equally attractive location. “We want to be close to the port as it is easier for transportation of raw materials,” he told the Malaysian media here today. The PVC resin, a raw material for the manufacture of pipes and fittings, will be exported to India and other countries, he said. Phase II of the firm’s expansion will be a metallurgical manufacturing plant, he said, adding that the PVC resin plant is the first focus area. “If everything works out...

JAIPUR (Rajasthan), Jan 16 (Bernama) — International Trade and Industry Minister Datuk Seri Mustapa Mohamed met Indian Commerce and Industry Minister Nirmala Sitharaman and discussed the strong bilateral ties between the two nations. Among others, India requested Malaysia, which is the current chair of Asean, to take up a more proactive role in the negotiations for the Regional Comprehensive Economic Partnership (RCEP) trade pact. Mustapa said Malaysia considered the conclusion of the RCEP negotiations as one of the deliverables during Putrajaya’s chairmanship of the 10-member grouping. There are ample political will to conclude the negotiations, he said during the 15-minutes meeting held on the sidelines of the Confederation of Indian Industry Partnership Summit 2015 here today. RCEP is a proposed free trade agreement, which involves the 10 members of Asean and six other nations namely Australia, China, India, Japan, South Korea and New Zealand. The negotiations for RCEP,...

KUALA LUMPUR, Jan 16 (Bernama) — Malaysia’s participation at this year World Economic Forum (WEF) reflects its commitment to shape the global trade agenda, and lead conversations on Asean economic integration, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said. “This is an important year for Malaysia and as Chair of Asean, we must be in the forefront in ensuring the realisation of the Asean Economic Community (AEC). “We must take the opportunity to engage the international business community and civil society and lead by example,” he said in a statement Friday. Prime Minister Datuk Seri Najib Tun Razak will be attending the two-day forum from Jan 23 in Davos, Switzerland. Najib, who is also Finance Minister, will be accompanied by Mustapa and Minister in the Prime Minister’s Department Datuk Seri Wahid Omar. The delegation also includes several prominent Malaysian business leaders as well as heads of investment-related agencies. One of the...

AVOS (Switzerland), Jan 20 (Bernama) — “More Opportunities”. That is what Malaysia is set to offer at the upcoming World Economic Forum (WEF), which starts tomorrow until Jan 24. Whether it is business opportunities or ease of doing business in Malaysia, there are plenty to offer on the table amid concerns by economists around the world of a very challenging first half, this year. All preparations to hold the 45th annual forum at the world’s famous ski resort of Davos-Klosters in Switzerland are in place despite the shivering cold weather. With this year’s forum themed, “The New Global Context”, more than 40 head of states and government, together with 2,500 business leaders, will convene for five days here to discuss current global economic landscapes and strategies, moving forward. Eye-catching banners reading “Malaysia Doing Business. Building Friendships” and “More Opportunities”, placed at strategic locations around the Panorama Hotel, can be spotted...

DAVOS (Switzerland), Jan 21 (Bernama) — The opposition claim that the Malaysian economy is in crisis is absurd and irresponsible, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed. He said the baseless accusation made by the opposition, which compared the country’s current economic situation to the likes of the 1997/1998 economic financial crisis, was not based on facts and indepth research. “In actual fact, in matters concerning core issues such as the nation’s economy, racial ties and religion, we must think as one. “In this aspect, it is clear that the opposition is attempting to shake the confidence of people and the international community of Malaysia’s economic prospects. “This is an irresponsible action,” he told Malaysian reporters on the sidelines of the World Economic Forum which began here on Tuesday. Describing the current economic situation as challenging, Mustapa said the situation today was far different from what occurred...

NEW DELHI, Jan 21 (Bernama) — The ‘Make In India’ campaign which aims to attract more investments to the country offers immense potential for Malaysian firms, especially the construction and infrastructure companies. While the campaign is slanted towards the manufacturing sector, the latter needs a conducive ecosystem to flourish including infrastructure, in which Malaysia is a strong player. “We are not strong in the manufacturing sector, but we can participate in infrastructure development,” Minister of International Trade and Industry Datuk Seri Mustapa Mohamed, who recently concluded a trade and investment mission to India, said. Malaysia is no stranger in India’s infrastructure development. According to the Construction Industry Development Board (CIDB), Malaysian firms have completed infrastructure projects worth US$5.1 billion (RM18.17 billion) in India. Malaysian construction and infrastructure companies have vast opportunities opened up in India’s effort...

KUALA LUMPUR, Feb 12 (Bernama) — The ASEAN Economic Community (AEC) 2015 is still a work in progress and ASEAN member states are targeting to complete 95 per cent of the integration measures by the end of 2015. Ministry of International Trade and Industry senior director of ASEAN Economic Cooperation Division P. Ravidran said the economic ministers believe 95 per cent is doable by end-2015. “Ninety five per cent should mark a great achievement as nowhere in the world is there 100 per cent economic integration. “The five per cent short-fall is said to be implemented as a priority implementation measure in 2016,” he said at the Economic Diplomacy Series 1/2015 organised by the Institute of Diplomacy and Foreign Relations (IDFR), Ministry of Foreign Affairs, Malaysia here today. On the status of the AEC implementation, Ravidran said the overall implementation rate for Phases I to III (2008-2013) is 80.7 per cent or 334 out of 414 ASEAN-wide measures. For ASEAN-wide Phase...

KOTA BAHARU, March 1 (Bernama) — Member countries will continuously reduce non-tariff measures and non-tariff barriers for freer intra ASEAN trade, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed Sunday. Mustapa said 69 non-tariff measures had been identified, and of this, 45 had been resolved. “We have decided to make more progress. We have identified many more and we will try to resolve those,” he told a press conference on the final day of the 21st ASEAN Economic Ministers’ Retreat (AEM) here. The Economic Ministers also proposed to form a mechanism to deal with non-tariff measures in facilitating the movement of businesses within the region. “We are looking at a formal platform. We are talking to the European Union, to see how we can share best practices with them,” said Mustapa. ASEAN Deputy Secretary General for the ASEAN Economic Community Dr Lim Hong Hin said a systematic mechanism would be developed to allow the private...