KUALA LUMPUR, Feb 12 (Bernama) — The six per cent growth rate to the gross domestic product (GDP) recorded by the Malaysian economy last year is still encouraging despite the uncertain world economy. International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the number was still positive and remained the highest compared with other Asean members. “With this growth, I am confident that Malaysia will continue to progress to be a high-income nation by 2020,” he told reporters on the sidelines of the launch of the Mid-Tier Companies Development Programme here today. Today, Bank Negara Malaysia reported GDP growth of six per cent for 2014 compared with 4.7 per cent a year ago. As for the fourth quarter, the central bank reported a higher growth of 5.8 per cent versus 5.6 per cent in the third quarter.  

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...

Malaysia’s total trade went up by 5.9 per cent to RM1.5 trillion last year from RM1.4 trillion in 2013. Deputy prime minister Tan Sri Muhyiddin Yassin said the export value increased by 6.4 per cent from RM46.1 billion to RM766.1 billion, while import value also increased by 5.3 per cent from RM34.3 billion to RM683 billion. “Strong export growth has contributed to the trade surplus for 17th consecutive year. The trade surplus for 2014 indicated an increase of 16.6 per cent, an improvement compared to negative growth (-22.8 per cent) recorded in 2012 and (-25.7 per cent) in 2013. “The manufacturing sector has contributed RM587.3 billion, an increase of 7.1 per cent from RM39.1 billion,” he said when addressing industry players in the state during a meet the people session on Thursday. Muhyiddin said a total of 3,966 projects were approved in the country with a capital investment worth RM259.9 billion from 2010 to September 2014, adding these investment projects had...

KUALA LUMPUR, Feb 16 (Bernama) — The government is expected to conclude its final Cost-Benefit Analysis (CBA) regarding the Trans-Pacific Partnership Agreement (TPPA) by the end of June this year, says International Trade and Industry Minister Datuk Seri Mustapa Mohamed. He said a few outstanding issues need to be resolved and talks on the proposed regulatory and investment treaty are still ongoing to ensure it is in Malaysia’s favour. “We are going to execute the final CBA study in the near term, collaborating with an international firm, on whether the TPPA is beneficial for the country or otherwise,” he told reporters after the ministry’s session with Heads of Foreign Missions here today. He said the CBA revolves around four issues, starting with the TPPA’s impact on the nation, including the country’s sovereignty and whether it would affect the weightage in delivering the government’s policies. The second is the TPPA’s impact on small and medium enterprises...

KUALA LUMPUR, 18 Feb (Bernama) –Menteri-Menteri Ekonomi dari negara-negara anggota ASEAN akan berada di Kota Bharu, Kelantan dari 28 Februari - 1 Mac untuk menghadiri satu mesyuarat penting bagi merancang usaha-usaha ke arah penubuhan Komuniti Ekonomi ASEAN (ASEAN Economic Community – AEC). Pemukiman Menteri-Menteri Ekonomi ASEAN ke-21, salah satu daripada mesyuarat-mesyuarat ASEAN yang dianjurkan bersempena kepimpinan ASEAN oleh Malaysia pada 2015, akan dipengerusikan oleh Y.B. Dato’ Sri Mustapa Mohamed, Menteri Perdagangan Antarabangsa dan Industri.  Menteri-Menteri Ekonomi ASEAN yang akan menghadiri Pemukiman ini adalah seperti di Lampiran A. Pemukiman yang merupakan acara tahunan ini kebiasaannya diadakan bertujuan untuk membolehkan Menteri-Menteri Ekonomi ASEAN menilai dan mengambil maklum tentang pencapaian keseluruhan proses integrasi serantau selain mempertimbang dan membincangkan inisiatif-inisiatif baru. Walau bagaimanapun, Pemukiman kali ini adalah sangat...

The 21st ASEAN Economic Ministers’ Retreat, which will be held in Kota Baharu, Kelantan from February 28 to March 1, will focus on ensuring all core economic integration measures stipulated in the ASEAN Economic Community (AEC) blueprint are realized, according to Malaysia’s Ministry of International Trade and Industry.

 

The AEC is scheduled to come into effect by December 31 this year. Photo: dangcongsan.vn The AEC is scheduled to come into effect by December 31 this year, intending to create a single market and production base in the region to further bolster ASEAN’s progress and prosperity. Recommendations from the private sector and concerns over a perceived increase in non-tariff barriers to trade in the region will also be main discussion points for the ministers. The ministers are also expected to consider and provide guidance on the draft of the Post-2015 Economic Vision and Plan for ASEAN, a critical deliverable as stakeholders expect the bloc to issue a new...

Kuala Lumpur: Projek pembangunan pelabuhan Tok Bali di Pasir Puteh, Kelantan dijangka bakal menarik pelaburan sehingga RM1 bilion dalam tempoh tiga tahun. Menteri Perdagangan Antarabangsa dan Industri (MITI), Datuk Seri Mustapa Mohamed berkata, MITI sudah meluluskan projek terbabit pada 7 Januari 2015. Katanya, setakat ini terdapat kira-kira 100 syarikat yang berpotensi untuk melabur dalam projek berkenaan dan projek itu dijangka akan memberi manfaat kepada kawasan sekitarnya dan juga Kelantan secara keseluruhannya. “Tok Bali mempunyai potensi besar sebagai pangkalan untuk menyediakan perkhidmatan berkenaan kerana lokasinya strategik berikutan jaraknya ke Kawasan Pembangunan Bersama Malaysia-Thailand (MTJDA). “Tok Bali Supply Base Sdn Bhd (TBSB), pengendali pelabuhan terbabit sudah melabur sebanyak RM90 juta tahun lalu dan tahun ini dianggarkan RM100 juta akan dibelanjakan untuk pembangunan projek itu,” katanya pada sidang media di sini, semalam. Mustapa berkata, TBSB...

KUALA LUMPUR: TB Supply Base Sdn Bhd (TBSB), which has received interest from over 100 companies to utilise its facilities in Tok Bali, Kelantan, will spend RM100 million in 2015 for civil works and to build facilities such as additional warehouses, Customs and Immigration building, new offices, canteen, rigging loft, crew jetty and helipad. TBSB is ultimately owned by Kelantan royalty Tengku Rozanna Petri and Tengku Rozlynda Petri Tengku Mohd Nasrun, through Forlenza Holdings Sdn Bhd. Forlenza through Matrix Reservoir Sdn Bhd, owns a 99.99% stake in TBSB. TBSB’s directors include Tengku Datuk Mohamad Rizam Tengku Abdul Aziz (also the chairman), Tengku Rozanna Petri and Shankar Ray Shi-Wan. TBSB is a logistics hub located in Tok Bali, Kelantan specifically catered to providers of support services to the offshore oil and gas industry. It has invested RM90 million to date since June 2014, for facilities like warehouses, revamp works and wharf. TBSB is located on a 328 acres...

KUALA LUMPUR, Feb 23 (Bernama) — The Tok Bali Supply Base project in Kelantan can attract up to RM1 billion in investments within the next three years. Minister of International Trade and Industry Datuk Seri Mustapa Mohamed said the project would have a spin-off effect on the surrounding Tok Bali area and the state itself. “This is a very important project for Kelantan. This is what the Kelantanese are yearning for,” he told reporters during a briefing Monday. Mustapa said Tok Bali Supply Base Sdn Bhd (TBSB), the operator of the supply base, has invested about RM90 billion to construct it and is expected to spend an additional RM100 million this year with its partners. He said TBSB is currently in talks with a pipe specialist company to set up a pipe-coating operation at the port, with an investment of about RM340 million over the next two years. He added that the company would occupy as much as 32.37 hectares of the port land with the objective of creating a facility...