Malaysian businesses should capitalise on their competitive edge in the service sectors to tap preferential trade facilities under the China-Asean Free Trade Agreement (CAFTA), said International Trade and Industry Deputy Minister Datuk Mukhriz Mahathir. “I see there is less competition in the services sector as it is totally different from other sectors..it very much depends on quality. “I think Malaysians have certain inherent advantages that we should make full use of,” he told Bernama on the sidelines of the “2010 FOCAFTA” seminar here on Thursday. Mukhriz said there was massive construction going on in many parts of China where Malaysian companies could provide architecture or design services to China. “China can look up to our capablities in this aspect. This is one area we can pursue further,” he said, adding that China was a huge market which also offered business opportunities in several other sectors for Malaysians. Mukhriz said if Malaysian businesses...

I visited Multimedia Development Corp (MDeC) yesterday, 6 April 2010, in an effort to enhance collaboration between my Ministry and the Ministry of Science, Technology and Innovation (MOSTI). I was impressed with the achievement of local ICT companies, which have registered double-digit growth in exporting their services yearly. There are three areas of mutual interest between MITI and MOSTI which need to be followed-through. They are:

• enhancing productivity of local small and medium enterprises (SMEs) by utilising ICT; 
• increasing investment promotion; and
• increasing export of ICT services.

We will review the progress of this collaboration once every six months and we want to see value creation out of these efforts.  

During the visit, I met Mr. Kamal Hassan - a renowned actor and film producer of Bollywood. He was attending a meeting with MDeC on creative industry development together with National Film Development Corporation of...

 

The 6th Invest Malaysia 2010 Conference co-hosted by MIDA and Bursa Malaysia was held on 30 and 31 March 2010 at the Shangri-La Hotel, Kuala Lumpur. Organised annually and this time, with MIDA’s participation, the event provided a more comprehensive coverage of Malaysia’s investment environment with the inclusion of the manufacturing and services sectors. With the theme “Powering Global Excellence”, Invest Malaysia 2010 provided the latest updates in Government policies that benefit businesses and investors, including: the implementation of the Government Transformation Programme;  how Malaysia plans to attract private investments towards achieving the goal of a high income economy; and growth areas for further development such as the services sector, aerospace and renewable energy. The highlight of the event was the keynote address by YAB Dato’ Sri Mohd Najib Tun Abdul Razak, the Prime Minister of Malaysia who announced the first part of the New Economic Model...

The demand for halal food in Russia is growing partly attributed to the large Muslim population, estimated in the region of 25 million or 18% of Russia’s 140 million people. Moscow city itself has the largest Muslim population amongst the European cities with 2 million people. There is vast opportunity for Malaysian companies to export halal products and services to Russia and CIS countries in view of the growing Muslim population. In 2009, the Russian Federal Agency for Technical Regulation and Metrology registered a halal System which identifies the compliance of food products and medicines within Islamic law and principles. Furthermore, under the platform of Russia Mufties Council, a group of independent experts established a working group to facilitate the development and implementation of Islamic financial services in Russia. As a result of that, in February 2010, the Russian Association of Islamic Financing Experts (RAIFE) was formed. In the last few years, there had been...

KUALA LUMPUR, March 24 (Bernama) — Malaysia is on course to achieve total trade growth of between five-six per cent in 2014, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed. He said broad recovery was seen in electrical and electronics exports while the trade surplus had become healthier in the first two months of 2014. “We have done well in the first two months. The performance has exceeded that of the same period last year,” he added. Mustapa was speaking to reporters after the launch of a book by former Deputy Prime Minister Tun Musa Hitam here Monday. The book, 21st Century Economics in the Muslim World, is a compilation of views on current economic issues of special interest to those following developments in the Muslim world. Malaysia’s trade in 2013 expanded by 4.6 per cent to RM1.36 trillion from RM1.309 trillion in 2012, boosted by a better export performance. The trade surplus last year amounted to RM70.63 billion. It was the 16th...