The National Green Technology Policy was announced by YAB Datuk Seri Najib Tun Abdul Razak Prime Minister of Malaysia on 24 July 2009 encompasing economic, environment and social policies. Among the goals of the National Green Technology Policy are to increase the production of local Green Technology products and the expansion of SMEs and SMIs businesses exports of Green Technology to the global market. Developed countries are now keen to engage with companies/organisations which are more environmentally responsible to its stakeholders. Malaysian industries are encouraged to adapt a green environment approach in their businesses, by moving towards low carbon technology. Potential benefits for businesses from adoption of the green policy include: • enhanced local industry’s competitiveness in the global market; and • increased ability to attract foreign investors and growth of exports through enhanced consumer confidence. Consumers have become increasingly conscious not...

A total of 360 manufacturing projects with investments amounting to RM15.9 billion were approved in the first six months of 2009. Foreign investments amounted to RM10.6 billion (66.7%) while domestic investments totaled RM5.2 billion (32.7%). Leading investment areas were chemical and chemical products (RM7.3 billion), basic metal products (RM1.9 billion), E&E products (RM1.8 billion), petroleum products (RM1.1 billion), and fabricated metal products (RM855.4 million). Collectively, these projects represent 82% of the value of total investment approved.

Manufacturing Sector A total of 495 projects were approved with investments totaling RM19.1 billion from January to August 2009. RM12.1 billion (63.3%) were foreign investments and RM7.0 billion (36.7%) domestic investment: - 302 projects were new projects with RM13.7 billion (71.7%) investments and - 193 expansions/diversification projects of RM5.4 billion (28.3%) investments. Main areas of domestic investments: - basic metal products (RM1,695.9 million); - chemicals and chemical products (RM1,178.9 million); - petroleum products including petrochemicals (RM701.6 million); - food manufacturing (RM674.0 million);and - transport equipment (RM661.5 million). Main areas of foreign investments: - chemicals and chemical products (RM6,836.2 million); - electrical and electronics products (RM1,919.3 million); - fabricated metal products (RM657.6 million); - petroleum products including petrochemicals (RM454.9 million); and - plastic products (RM438.2 million). Major sources of...

The ASEAN-India Free Trade Agreement (AIFTA) came into effect on 1 January 2010 for Malaysia and India. It is a remarkable milestone towards a freer market environment, and an important agreement for Malaysia as India is emerging as an important trading partner as well as a market for Malaysian exports. This FTA creates a market of 1.7 billion people with combined GDP of US$2.8 trillion and combined global trade of over US$2 trillion. Under the AIFTA, ASEAN Member States and India have agreed to progressively reduce and eliminate duties on substantial number of products over a period of 3-8 years beginning 1 January 2010. The Philippines, Cambodia, Lao PDR, Myanmar and Viet Nam are given an additional 2-3 years to reduce and eliminate their duties under this FTA. Dato’ Sri Mustapa Mohamed says that Malaysia is committed to eliminate import duties on 6,792 products or tariff lines by 31December 2013, while duties on another 1,266 tariff lines would be eliminated by 31 December...

YAB PM is making an official visit to the Republic of India from today until 23 January 2010. YB Dato’ Sri Mustapa Mohamed, Minister of MITI, is the accompanying Minister for the visit. The visit will be to two major cities namely New Delhi (19-21 January 2010) and Chennai (21-23 January 2010). During the visit to New Delhi, YAB PM will be meeting with H.E. Smt. Pratibha Devisingh Patil, the President of India and H.E. Shri Mohd. Hamid Anshari, the Vice President of India. YAB PM and delegation will be having a bilateral meeting with his counterpart, Hon. Dr. Manmohan Singh, the Prime Minister of India and both leaders are scheduled to witness the signing of several important G2G Memorandum of Understandings and Agreements. On 20 January 2010, YAB PM will be delivering a Keynote Address at the ‘Malaysia-India Business Forum’ in New Delhi that will be jointly organized by the Indian Associated Chamber of Commerce & Industry, Federation of Indian Chambers of Commerce &...

 

YB Dato’ Sri Mustapa Mohamed arrived in New Delhi on Tuesday to accompany Prime Minister YAB Dato’ Sri Najib Tun Abdul Razak who is on a five-day official visit to India, Asia’s third largest economy. On hand to welcome the Malaysian delegation were various Indian dignitaries, including Minister of State for Railway E. Ahmed and India’s High Commissioner-designate to Malaysia, Vijay Gokhale. The main events in New Delhi will be YAB Prime Minister’s keynote address at the Malaysia-India Business Forum, jointly organised by the Associated Chamber of Commerce, Confederation of Indian Industry and the Federation of Indian Chambers of Commerce and Industry.  

 

Among members of the delegation are Melaka Chief Minister, Datuk Seri Mohd. Ali Rustam, Works Minister, Datuk Shaziman Abu Mansor, Human Resources Minister, Datuk Dr S. Subramaniam. Deputy Minister in Prime Minister’s Department, Datuk SK Devamany.

Despite bracing itself for a bumpy ride, the manufacturing sector managed to garner foreign investments worth RM22.1billion ( 67.8%) of approved investments, while the services sector’s main thrust was from domestic investments, RM32.9billion ( 90.6%) for 2009.Undeniably, this is primarily due to Malaysia’s liberal and transparent business policies, productive workforce and strong financial services. “Prudent banking policies have lent credibility and confidence to investors This coupled with the proactive launching of the second stimulus package of RM 60 billion have helped us weather the beatings of the harsh economic climate , Dato’ Sri Mustapa Mohamed feels.Approved investment projects in manufacturing recently have been more capital intensive in nature, reflecting the move toward high-technology, high value-added, skills and knowledge-based industries. Who is investing ? Japan , at the moment, is our largest foreign investor with an investment of RM7 billion....

Nearly two thirds of GDP by 2015 will be services. The new economic model for Malaysia places emphasis on raising the productivity level of workers to help them earn higher incomes as well as raising the country’s income status as a whole from middle to high. When the new economic model is unveiled, necessary changes and realignment to policies and strategies outlined in the IMP3 will have to be made. These include changes to macro-frameworks and to inject the elements of innovation and creativity into the development strategies. The target has been set; the contribution of the services sector is to increase to 60 per cent of the GDP by 2015. We want to hear your feedback…

 

 

YB Minister, Dato’ Sri Mustapa Mohamed received a courtesy call from German Ambassador, H.E. Dr. Guenter Georg Gruber and Dr Ernst Roeder-Messell, Counsellor for Economic, Commercial and Environmental Affairs Germany at his office.