GEORGE TOWN (Feb 28): Penang moved up one notch to the third spot with the highest number of approved investments in the country last year, after Johor and Sarawak.
Penang approved local and foreign investments totalling RM8.2 billion in 2014, a 109% jump from the previous year.
Chief Minister Lim Guan Eng said the state approved foreign investments amounting to RM5.1 billion and RM3.04 billion in domestic investments last year.
“In 2013, our total proposed capital investment was RM3.9 billion and we were ranked No. 4,” he told a news conference to announce the investment figures released by the Malaysian Investment Development Authority (Mida) yesterday.
“This (2014) is good results, although it is more important that we receive quality investments.
“It should not be typical industries but those that can add value, be high-tech and are knowledge intensive,” Lim said.
He added that the investments in Penang were widely distributed between local and foreign businesses...
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June 15, 2015 , by admin2
June 15, 2015 , by admin2
KOTA BAHARU, Kelantan state, Malaysia March 1 (NNN-Bernama) — The 21st ASEAN Economic Ministers’ (AEM) Retreat reaches its peak when all economic ministers of ASEAN and the organisation secretary General, Le Luong Minh, meet Sunday.
The last day of the retreat kick start with a briefing by the chairman of ASEAN Business Advisory Council (ABAC) Dr Mohd Munir Abdul Majid on the feedback from the private sector on the ASEAN Economic Community.
Mohd Munir would also submit seven proposals, covering eight sectors, to be implemented before the AEC kickoff to smoothen the region’s integration as a single economy as well as previous outstanding proposals such as ASEAN business card and ASEAN lane at all international entry points.
Among the proposals that will be submitted are the setting up of the ASEAN Youth Entrepreneur Association and the ASEAN Women Entrepreneur Association to address the needs of two of the major groups in the region’s demographic structure.
Also to be...
Read MoreJune 15, 2015 , by admin2
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...
Read MoreJune 15, 2015 , by admin2
KOTA BAHARU, March 1 (BERNAMA) — ASEAN economic ministers (AEM) today wrapped up their two-day retreat here with a steady progress made towards implementing the ASEAN Economic Community (AEC) Blueprint, particularly key measures prioritised by member states.
As the regional grouping moves towards the tail-end of the AEC implementation, it has progressively removed trade obstacles such as Non-Tariff Barriers (NTB), which are a clear impediment towards the realisation of the AEC.
“There are a number of highlights (achieved) during this retreat. We’d talked about NTBs, listened to reports on the progress of the economic integration, and spent a lot of time on the Regional Comprehensive Economic Partnership (RCEP),” International Trade and Industry Minister Datuk Seri Mustapa Mohamed told reporters on the final day of the two-day 21st ASEAN Economic Ministers’ Retreat (AEM) here, Sunday.
Mustapa, who chaired the retreat, said eliminating non-tariff barriers is very...
Read MoreJune 15, 2015 , by admin2

KOTA BHARU: Negara anggota ASEAN akan terus mengurangkan langkah-langkah dan halangan bukan tarif untuk perdagangan yang lebih bebas di dalam pertubuhan serantau itu, kata Menteri Perdagangan Antarabangsa dan Industri, Datuk Seri Mustapa Mohamed hari ini.
Bercakap kepada pemberita, Datuk Seri Mustapa menyatakan langkah bukan tarif telah dikenal pasti dan 45 daripadanya telah ditangani.Kami telah membuat keputusan untuk berusaha ke atas langkah dan halangan bukan tarif dan cuba menyelesaikan lebih banyak lagi,ketika di sidang akhbar pada hari terakhir Pemukiman Menteri-Menteri Ekonomi ASEAN (AEM) Ke-21 di sini, hari ini.Menteri ekonomi terbabit juga mencadangkan pembentukan mekanisme untuk menangani langkah bukan tarif bagi memudahkan pergerakan perniagaan di dalam rantau berkenaan.Kami sedang meneliti satu platform rasmi. Kami sedang berbincang dengan Kesatuan Eropah untuk melihat bagaimana kami boleh berkongsi amalan terbaik daripada mereka.
Timbalan Setiausaha Agung ASEAN...
Read MoreJune 15, 2015 , by admin2
Kota Bharu: Negara anggota Asean akan membincangkan lebih terperinci mengenai cadangan penubuhan Bank Mikro Asean bagi membantu perusahaan mikro mengembangkan perniagaan masing-masing.
Menteri Perdagangan Antarabangsa dan Industri (Miti), Datuk Seri Mustapa Mohamed berkata, Bank Mikro itu dijangka dapat memberi kemudahan kepada perusahaan mikro yang ingin meluaskan perniagaan dalam rantau Asean.
Beliau berkata, operasi Bank Mikro Asean itu akan berlainan dengan bank sedia ada dalam kalangan negara anggota, namun ia akan mempraktikkan garis panduan yang sama.“Cadangan ini sudah diusulkan menerusi Majlis Penasihat Perniagaan ASEAN (ABAC). Bagaimanapun, belum ada sebarang keputusan dibuat kerana kami akan membincangkannya lebih lanjut pada mesyuarat yang akan berlangsung di Jakarta, April ini.“Banyak perbincangan yang sudah dibuat untuk merealisasikan Bank Mikro Asean ini dan ia juga akan mengetengahkan pentingnya dagangan sempadan dalam memacu peluasan dagangan sesama anggota...
Read MoreJune 15, 2015 , by admin2
KUALA LUMPUR: The Malaysian Investment Development Authority (Mida) which will be organising a series of global supply chain conferences throughout the year, yesterday hosted an aerospace and commercial supplier conference to spur further investments in the aerospace industry.
Mida’s CEO Datuk Azman Mahmud (pix) said the conference is part of its initiatives to increase investments in the aerospace sector, given that projects approved involving manufacturing and maintenance, repair, operations (MRO) last year stood at RM682 million, compared with RM387.3 million in 2013.
“This is also part of our effort in promoting Malaysia as an investment destination for aerospace. We will have a forum on the aviation industry during the Langkawi International Maritime and Aerospace Exhibition (LIMA) March 18, 2015, which will be officiated by the International Trade Minister Datuk Seri Mustapa Mohamed,” Azman told reporters at the aerospace and commercial supplier conference 2015... Read More
June 15, 2015 , by admin2
The Economic Wrap-Up session held in Sasana Kijang organised by the Performance and Management Delivery Unit (PEMANDU) recently featured Dato’ Sri Idris Jala, CEO of PEMANDU and Minister in the Prime Minister’s Department, fellow Minister in the Prime Minister’s Department Dato’ Sri Abdul Wahid Omar, and Dato’ Sri Mustapa Mohamad, Minister of International Trade and Industry.
The session brought home the point that while Malaysia’s economy was in good shape throughout 2014, several areas still remain to be improved before the nation can fulfil its aspiration of becoming a high-income developed country by 2020.
Dato’ Sri Mustapa, in his concluding remarks, reminded the audience that everyone needed to work together in order to make 2015 a success, as it would most likely turn out to be a challenging year.
The way forward for Malaysia
Dato’ Sri Idris reiterated the need to remain focused on completing existing projects and not to keep brainstorming new ones. “If...
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