The Johor government is ramping up efforts to equip local talents for high-value job opportunities created through the Johor-Singapore Special Economic Zone (JS-SEZ).

The initiative, anchored by the state’s skills training programme Pro-Mahir, is spearheaded by the newly established Johor Talent Development Council (JTDC).

State Investment, Trade, Consumer Affairs, and Human Resources committee chairman, Lee Ting Han (BN-Paloh) said Pro-Mahir had trained 3,500 participants with RM17 million allocation since its launch in 2018.

He said the ‘train and place’ programme focused on providing technical and professional skills aligned with industry needs while ensuring job placements post-training.

It targets fresh graduates, career switchers, and those requiring upskilling to remain competitive.

It emphasises technical expertise and soft skills like communication, leadership, and problem-solving.

“Building on Pro-Mahir past success, the state government allocated RM3 million in the 2025 Budget to continue and expand the programme under JTDC.

“Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi approved RM20 million additional fund to support JTDC initiatives on Nov 3,” he said in response to questions from Mohd Yusla Ismail (BN-Senggarang) at the state legislative assembly sitting today.

Lee said the funds, managed through HRD Corp, will ensure the implementation of holistic and industry-specific training programmes.

He said JTDC will align its initiatives with the demands of industries within JS-SEZ, conducting market analyses to tailor courses to emerging job opportunities.

JTDC’s agenda includes attracting and retaining top-tier talent by promoting high-quality jobs with competitive salaries.

Johor’s premium wage initiative aims to link outstanding graduates with roles offering monthly salaries ranging between RM4,000 and RM5,000.

The initiatives are expected to reduce unemployment, boost household incomes, and position Johor as a globally competitive economic hub.

“By focusing on fields like technology and innovation, the government seeks to ensure local workers benefit directly from JS-SEZ’s rapid growth, solidifying Johor’s standing as a leader in national and international economic development,” said Lee.

Source: NST

Johor enhances efforts to empower local talents for Johor-Singapore SEZ

Malaysia and South Korea have reiterated their commitment to fostering an investment climate aligned with environmental, social, and governance (ESG) principles.

The announcement was made during a bilateral meeting between Prime Minister Datuk Seri Anwar Ibrahim and South Korean President Yoon Suk Yeol in Seoul on Monday.

In a joint statement following their meeting, both leaders highlighted the importance of advancing research and development initiatives and promoting technological exchanges between businesses in their respective countries.

“The focus areas include Fourth Industrial Revolution technologies, the digital economy, the halal ecosystem, and the green agenda,” the statement said.

The statement also underscored the shared commitment to expanding trade, investment, and economic collaboration.

“Both sides agreed to expedite the bilateral Free Trade Agreement (FTA) negotiations, which resumed in March 2024, to conclude them by 2025,” it said.

The leaders pledged to secure mutually beneficial outcomes for businesses in both nations, including small and medium enterprises (SMEs).

Through the FTA, they are committed to enhancing cooperation in trade and investment and emerging sectors such as the digital economy, green economy, and bioeconomy.

Furthermore, both sides recognised the importance of deepening cooperation on economic security, including cooperation in areas and issues such as supply chain resilience.

Noting that collaboration between SMEs and start-ups could reinforce innovation and national competitiveness, both sides agreed to provide further assistance to boost cooperation and exchanges between SMEs and start-ups.

Meanwhile, having commemorated the 40th Anniversary in 2023, both sides recognised that the Look East Policy (LEP) has contributed to enhancing the economic relations between the two countries since its inception in 1983.

Recalling the adoption of the Guiding Document of the Second Wave of the Look East Policy (LEP 2.0) in 2014, both sides reaffirmed their commitment to working together to maximise the potential of LEP 2.0 in strengthening economic and trade relations.

“Both sides further recognised the significant role of the Economic Cooperation Committee (ECC) in strengthening economic cooperation under LEP 2.0 and reaffirmed their commitment to hold ECC meetings regularly,” it said.

In terms of digital and ICT cooperation, Malaysia and South Korea recognised the importance of the digital government in increasing competitiveness and driving economic growth, with both sides agreeing to work together more closely on the digital government through knowledge sharing, joint capacity-building activities, and consultations.

The statement noted the launch of the Malaysia Digital Economy Blueprint in February 2021, with both sides agreeing to explore ways to strengthen cooperation in areas such as ICT policies, 5G, AI, and Big Data based on the Memorandum of Understanding on Information and Communications Technology Cooperation signed by the two countries in November 2019.

“Both sides highlighted the value of ICT in achieving equitable, inclusive, and sustainable economic growth and noted with satisfaction the successful completion of the IT cooperation project on AI-based smart farms,” it added.

Source: Bernama

Malaysia, South Korea to foster ESG investments, technological collaborations

Malaysia and South Korea have elevated their bilateral relations to a Strategic Partnership, marking a significant milestone in their decades-long cooperation.

The announcement was made during a bilateral meeting between Prime Minister Datuk Seri Anwar Ibrahim and South Korean President Yoon Suk Yeol in Seoul on Monday.

In a joint statement issued after the meeting, both leaders reaffirmed their commitment to enhancing collaboration in four key areas: peace and security, economic development, culture and education, and regional and global cooperation.

“This Strategic Partnership signifies the shared determination of Malaysia and South Korea to expand cooperation to new horizons in promoting freedom, peace, and prosperity while addressing pressing global challenges,” said the statement.

The two leaders agreed to deepen defence and security ties, including cooperation in the defence industry and efforts to tackle non-traditional security issues such as cybercrime and drug trafficking. They also acknowledged the importance of regular high-level exchanges to strengthen mutual trust and strategic relations.

On the economic front, both sides committed to accelerating Free Trade Agreement negotiations to conclude them by 2025.

They also pledged to strengthen collaboration in emerging sectors such as the halal economy, digital technologies, and the green agenda.

The leaders highlighted the legacy of Malaysia’s Look East Policy, which has bolstered cultural and educational exchanges over the past 40 years.

They intended to sign a new Memorandum of Understanding to deepen bilateral tourism cooperation.

Yoon also reiterated South Korea’s support for Malaysia’s ASEAN Chairmanship in 2025, underscoring the importance of regional and global collaboration to address shared challenges.

The Joint Statement further condemned the use of ballistic missile technology by North Korea and called for strengthened international efforts to address humanitarian crises, including the situation in Gaza.

“The Strategic Partnership reflects our shared commitment to addressing regional and global issues through collaboration within ASEAN and other multilateral platforms,” the statement added.

The Strategic Partnership extends to healthcare and medical science, with both nations committing to enhancing preparedness for potential future outbreaks.

Drawing from lessons learned during the COVID-19 pandemic, they agreed to share policies, foster research and development, and expand partnerships in areas such as vaccines, pharmaceuticals and healthcare technology.

“The Memorandum of Understanding (MoU) signed in November 2019 serves as a foundation for promoting the health of our peoples and advancing our healthcare industries,” the statement noted.

Addressing climate action, both sides reaffirmed their dedication to reducing greenhouse gas emissions and advancing clean energy technologies, including hydrogen energy and small modular reactors (SMRs).

The launch of the ROK-Malaysia Climate Change Dialogue in 2023 was welcomed as a platform for enhancing bilateral efforts to combat climate change.

Cultural and educational exchanges were also prioritised, with both leaders acknowledging the success of the Look East Policy (LEP) in strengthening ties.

Malaysia and South Korea agreed to promote student exchanges, expand vocational education cooperation, and deepen cultural collaborations under a MoU signed in 2020.

“Both sides also decided to work together to foster Technical and Vocational Education and Training (TVET) cooperation involving various participants, including central and local governments, TVET institutions, and corporations,” said the statement.

In tourism, the leaders celebrated the resurgence of visitors between the two nations and committed to signing a new MoU to further facilitate bilateral travel and strengthen consular cooperation.

Agriculture was also highlighted as another critical area, with both countries agreeing to advance research and development in smart agriculture and mechanisation while promoting collaboration in halal food production.

Digital cooperation was also discussed, with both sides agreeing to enhance collaboration in 5G, artificial intelligence (AI) and Big Data.

Notable projects, such as the AI-based smart farms initiative, underscore the success of such partnerships.

Earlier, both leaders will also witness the exchange of three Memoranda of Understanding on Cooperation in the Field of Higher Education, Cooperation in the Field of Carbon Capture and Storage and Cooperation in Cooperative Approaches Under Article 6, Paragraph 2 of the Paris Agreement.

Anwar arrived here on Sunday for a three-day official visit to South Korea to further strengthen bilateral relations between Malaysia and South Korea.

Both countries will be celebrating the 65th anniversary of the establishment of diplomatic relations in 2025.

Source: Bernama

Malaysia, South Korea elevate relations to strategic partnership

Prime Minister Datuk Seri Anwar Ibrahim has welcomed investors from South Korea to explore the various opportunities available in Malaysia and to collaborate in efforts to boost and achieve mutual prosperity.

Anwar who also the Finance Minister said he had met with several chief executive officers during the C-Suite Insight Session as well as delivered a speech at the Malaysia-Korea Business Forum 2024 after meeting with South Korean President Yoon Suk Yeol today.

“This event (meeting) stressed on the close relationship between Malaysia and South Korea, besides highlighting our commitment to innovation and sustainable growth,“ he said in post on X platform today.

In his speech at the forum, Anwar also welcomed the presence of over 200 participants representing 147 South Korean companies from various sectors including semiconductor, electric vehicle, green technology, and artificial intelligence (AI).

“In this same space, I shared Malaysia’s policies under the MADANI Economic Framework, supported by initiatives such as the New Industrial Master Plan 2030, the National Energy Transition Roadmap, and the Semiconductor Strategic Plan,“ he said.

Anwar said the C-Suite Platform provided a space for Malaysia to engage directly with leading South Korean companies such as Samsung, SIMMTECH, Poongsan Corporation, Lotte Energy Materials, and Kumho Petrochemical.

“These companies presented their plans for Malaysia, including investments in sectors such as semiconductor, renewable energy, rare earth processing, and the halal industry.

“Their commitment to Malaysia is exciting and reflects their confidence in Malaysia’s stability, policies, and as a strategic investment destination,“ he said.

Anwar and his delegation arrived in Seoul yesterday in conjunction with his three-day official visit to South Korea to further strengthen bilateral relations between Malaysia and South Korea.

Both countries will be celebrating the 65th anniversary of the establishment of diplomatic relations in 2025.

Source: Bernama

PM Anwar encourages South Korean investors to explore opportunities in Malaysia

Negeri Sembilan has the potential to be developed into an industrial state, which could significantly boost its revenue, says Chennah assemblyman Anthony Loke.

The Transport Minister noted that Malaysia was increasingly attracting foreign investors, with major corporations expressing interest in investing, and states should capitalise on this opportunity.

“Negeri Sembilan must seize this advantage by intensifying efforts to attract investors and focusing on how to draw them in. The state government should also identify a specific area or site suitable for industrial development.

“Previously, Nilai and Enstek were identified as the nation’s logistics hubs…I am confident that more industrial zones can be established, turning Negeri Sembilan into an industrial state,“ he said during the debate on the 2025 Supply Bill at the Negeri Sembilan State Assembly in Wisma Negeri here, today.

Loke also highlighted plans for a container port in Pasir Panjang, Port Dickson, and called for the development of large-scale industrial areas in the district to enhance the port’s operational efficiency.

“Port Dickson offers ample opportunities to be developed into a competitive and advanced industrial zone. This would increase the state’s revenue, including land premiums and assessment taxes, if more industrial areas are established.

“With increased revenue, we can reinvest in the people through more initiatives for their benefit,“ he said, lauding Menteri Besar Datuk Seri Aminuddin Harun’s announcement of a balanced RM590 million 2025 State Budget on Friday.

Aminuddin’s budget presentation focused on nine key pillars, including economic resilience, food security, and education.

Meanwhile, Saiful Yazan Sulaiman (BN-Johol) called for increased allocations for the Orang Asli community in Negeri Sembilan to ensure that the over 4,000 residents from 43 registered villages are not left behind.

He also urged the state government to improve infrastructure and expand Technical and Vocational Education and Training (TVET) programmes to benefit the Orang Asli community.

Datuk Mohd Zaidy Abdul Kadir (BN-Jeram Padang) concurred, advocating for TVET expansion in rural areas and better dissemination of programme information to ensure it reaches students in these regions.

“Information on TVET is not reaching its intended audience. I believe wider promotion is needed. The MADANI Government prioritises TVET, and it would be a missed opportunity if we neglect this,“ he said.

The state assembly sitting continues tomorrow.

Source: Bernama

Negeri Sembilan tipped for industrial development to boost state revenue

Perak has good potential to be a contributor to the national economy compared to other states, Economic Affairs Minister Rafizi Ramli said.

He said it was clearly seen through several planned projects at the federal and state level, including the Lumut Marine Industrial City (LuMIC), Perak Halal Industrial Park (Perak HIP), Silver Valley Technology Park (SVTP), Kerian Integrated Green Industrial Park (KIGIP) and the Automotive High Technology Valley (AHTV).

“In terms of development planning, the industry nodes have been set, one in the north, one in central, another in the south, and then in the west. These are national-scale projects with the potential of bringing in industry clusters.

“Then in terms of workforce, Perak has a good foundation, that’s why I feel if given focus and brought together with planning between the Perak and Federal Government to complete the infrastructure to support these nodes, actually Perak has comprehensive industrial planning from north to south, till the west,” he said at a media conference after an 13th Malaysia Plan (13MP) engagement session with the Perak state government here today.

He said that in the next two to three years when more projects achieve physical progress, Perak might be in a better position than currently in terms of contribution to the national economy.

“I think (Perak) is currently the seven largest contributor to the national GDP (Gross Domestic Product), and it has the potential of overtaking other states with this existing plan,” he added.

Source: Bernama

Perak has potential to be good contributor to national economy – Rafizi

Malaysia must strengthen its collaboration with other countries to mitigate the risks posed by a fragmented global supply chain, especially amid escalating US-China trade tensions, following Donald Trump’s return to the US presidency, Deputy Investment, Trade and Industry Minister Liew Chin Tong said on Monday.

“We are concerned about this issue (US-China trade tensions). There is an intentional attempt to bifurcate the global supply chain — the US for the US, China for China. 

“We need to work with the middle [powers] to avoid the risks,”  Liew told reporters after inaugurating the Malaysia Semiconductor Industry Association’s (MSIA) National E&E Forum.

According to Liew, the Malaysian government and MSIA have signed a memorandum of understanding (MOU) with Brazil’s semiconductor industry, involving key organisations such as the Brazilian Association of the Semiconductor Industry and the Brazilian Association of the Electrical and Electronics Industry.

Additionally, the government is in discussions with the Netherlands government to strengthen ties with semiconductor equipment giants like ASML Holding, he said. 

In addition, Liew urged Malaysia to move beyond its traditional role as a manufacturing hub and focus on higher-value sectors such as research and development, innovation, and advanced technology production, particularly as the world shifts towards artificial intelligence (AI).

“Creating our own technology is not easy. We must rethink our approach. Too often, the conversation revolves around securing more government grants, lamenting insufficient funds, or seeking foreign direct investment,” he said. 

Liew called for a broader approach, suggesting the adoption of a flexible industrial policy framework, emphasising that it does not need to be fully fledged. 

“As a trading nation with an open economy, we have limitations, but we must broaden our thinking to explore what tools we can utilise from the industrial policy toolbox.

“Secondly, we also will need to look at how to marry public funds and private funds. It is important that each of these investments shouldn’t be just grant-based,” he added. 

Malaysia’s first Edge AI system 

The National E&E Forum also witnessed the signing of an MOU between Penang-based design companies Elliance Sdn Bhd and SkyeChip Sdn Bhd, as well as an MOU between Elliance, Kaltech Sdn Bhd, and Estek Automation Sdn Bhd, to jointly develop Malaysia’s first Edge AI system.

Edge AI involves the deployment of AI applications on devices in the physical world. The AI computation is performed near the user, at the edge of the network, close to where the data is located, rather than centrally in a cloud computing facility or private data centre.

“This partnership bears significant meaning for Malaysia, as it is the building block towards Malaysia’s first locally designed and manufactured Edge AI system, including Malaysia’s AI chip,” MSIA president Datuk Seri Wong Siew Hai commented. 

“Many more Malaysian companies will be involved in different stages of development and production, which will bring more opportunities to them. The increased confidence that propagates throughout the local AI ecosystem will soon put Malaysia on the AI world map,” he added. 

Malaysia is the world’s sixth largest exporter of electronics and semiconductors, and it plays a critical role in the global E&E supply chain.

For perspective, the country is responsible for 7% of semiconductor trade flows, as well as 13% of back-end operations globally, including chip testing and packaging.

Source: The Edge Malaysia

MITI: Malaysia to work with middle powers to address bifurcation of supply chain amid US-China trade war

Prime Minister Datuk Seri Anwar Ibrahim is scheduled to meet leaders of South Korean conglomerates, or “chaebol”, to attract more foreign direct investments to Malaysia.

Malaysian ambassador to the Republic of Korea Datuk Mohd Zamruni Khalid said a series of meetings with key corporate figures and businessmen of the country’s giant companies will be held on the second day of the official visit.

The Prime Minister is scheduled to arrive in Seoul at 10 pm tonight (9 pm Malaysian time) for an official visit to the country for three days starting today until Nov 26 at the invitation of South Korean President Yoon Suk Yeol. In addition, Mohd Zamruni said the Prime Minister would also speak at a business forum that is expected to be attended by more than 180 South Korean companies.

“In general, this official visit is expected to further strengthen bilateral relations between Malaysia and South Korea through agreements that will be sealed on many regional and international issues of mutual interest, including the strengthening of trade and investment initiatives,“ he told the Malaysian media here today.

Until October 2024, the total trade between Malaysia and South Korea is RM91.1 billion (US$19.8 billion).

Malaysia’s total exports to South Korea were valued at RM43.95 billion (US$9.6 billion) while Malaysia’s total imports from South Korea were worth RM47.1 billion (US$10.3 billion) this year.

“South Korea is the seventh largest trading partner for Malaysia while Malaysia is the 11th largest trading partner for South Korea. Total investment is RM61 billion with 616 projects,“ he noted.

This is Anwar’s first official visit to the country since he was sworn in as Prime Minister on Nov 24, 2022.

During the three-day visit, Anwar, who is also the finance minister, is scheduled to hold a bilateral meeting with Yoon at the Office of the President of the Republic of Korea.

“During this meeting, the two sides are expected to discuss several matters that include bilateral cooperation in the economic field such as trade and investment as well as cooperation in the field of defence and security. Apart from that, cooperation in the field of infrastructure, energy transition and the environment, agriculture and food, and in relations between people, including education, cultural exchange and the tourism sector are also expected to be discussed,“ the ambassador said.

In addition, Mohd Zamruni said the two leaders are scheduled to witness the exchange of four memorandums of understanding, among them involving cooperation in the carbon capture and storage (CCS) and the higher education sectors.

He said Yoon will host a luncheon in honour of the prime minister and that Anwar will also meet Malaysians who work in South Korea, in addition to being interviewed by Chosun Ilbo and Chosun TV, an influential Korean-language newspaper and television station, on Tuesday. In the interview, he said Anwar would touch on Malaysia-South Korea bilateral relations, trade and investment as well as Malaysia’s ASEAN chairmanship in 2025.

He added that the Prime Minister is also expected to meet with local Muslim community leaders from the Korea Muslim Federation (KMF), an official body recognised as the parent body to represent the Muslim community in the Republic of Korea, during which a donation of copies of the Al-Quran with English and Korean translations to KMF will be made.

The Prime Minister is also scheduled to deliver a special public lecture entitled “Strategic Partners in a Complex World: Malaysia, Korea, and the Future of Asia” at Seoul National University (SNU), a top Korean university.

“The Prime Minister’s visit this time is very significant to reflect the close relationship between Malaysia and the Republic of Korea. What’s more, the two countries will celebrate the 65th anniversary of diplomatic relations in 2025,“ the ambassador noted.

The two leaders are expected to affirm the commitment of both countries to strengthening bilateral relations through more comprehensive cooperation, especially in economy and investment, defence, education and tourism.

Source: Bernama

PM Anwar will meet South Korea’s chaebol leaders, attract foreign investment

Malaysian Prime Minister Datuk Seri Anwar Ibrahim will undertake an official visit to South Korea from November 24 to 26 to further strengthen bilateral ties as the two nations prepare to celebrate 65 years of diplomatic relations in 2025.

In a statement, the Foreign Ministry said Anwar’s first official visit to South Korea since assuming office in November 2022, is at the invitation of South Korean President Yoon Suk Yeol.

The ministry stated that during the visit, Anwar is scheduled to hold a bilateral meeting with Yoon at the Yongsan Presidential Office.

“Both leaders will take stock of Malaysia-South Korea bilateral relations that have significantly progressed, in scope and substance, since the establishment of diplomatic ties in 1960.

“They are also expected to discuss regional and international issues of mutual concern, and exchange views on Malaysia’s Chairmanship of ASEAN and South Korea’s Chairmanship of Asia-Pacific Economic Cooperation (APEC), in 2025,” the statement read.

According to the Foreign Ministry, Anwar and Yoon will witness the exchange of three Memoranda of Understanding (MoUs) on Cooperation in the Field of Higher Education, Cooperation in the Field of Carbon Capture and Storage, and Cooperation in Cooperative Approaches (under Article 6, Paragraph 2 of the Paris Agreement).

Anwar is also scheduled to attend the Malaysia-South Korea Business Forum and meet with captains of industry from major South Korean companies.

Additionally, the prime minister is set to deliver a special address titled “Strategic Partners in a Complex World: Malaysia, Korea, and the Future of Asia” at the Seoul National University.

He will be accompanied by Foreign Minister Datuk Seri Mohamad Hasan, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Science, Technology and Innovation Minister Chang Li Kang, National Unity Minister Datuk Aaron Ago Dagang, and senior government officials.

From January to September this year, Malaysia’s trade with South Korea was valued at RM81.61 billion (US$17.63 billion). From 1980 to June 2024, a total of 392 manufacturing projects with South Korean participation have been implemented with total investment worth RM43.10 billion (US$11.50 billion).

In 2023, South Korea was Malaysia’s 8th largest trading partner with trade valued at RM111.07 billion (US$ 24.35 billion). Malaysia was South Korea’s third largest trading partner among ASEAN Member States and 12th largest globally.

Malaysia and South Korea will celebrate the 65th anniversary of the establishment of diplomatic relations in 2025.

Source: Bernama

PM Anwar to strengthen Malaysia-S.Korea ties during official visit

Sabah is keen to see Chinese investors explore new opportunities in the state’s Blue Economy sector, says Chief Minister Datuk Seri Hajiji Noor.

He said the initiative offers immense investment opportunities in fisheries and aquaculture, logistics, tourism, renewable energy, mineral resources, biotechnology and pharmaceuticals.

“We are pleased that Sabah has remained a sought-after destination for China visitors, both for leisure and for business.

“Sabah’s exports to China amounted to RM7.6bil or 19.5% of the state’s total exports in 2023 with key exports including palm oil, timber, seafood, and rubber while imports included machinery, electronics, and various manufactured goods,” he said after officiating at the Malaysia (Sabah)-China Business Summit on Friday (Nov 22) night.

His speech was delivered by Deputy Chief Minister Datuk Seri Dr Joachim Gunsalam.

The Blue Economy is an initiative that promotes sustainable practices in using ocean resources for economic growth, comprising four main components namely harvesting of living resources, extraction of non-living resources, commerce and trade in and around the oceans; and response to ocean and river health challenges.

Hajiji said there were also opportunities to explore under the Blue Carbon initiative, waste management and pollution control, research and development, and marine infrastructure.

“We see vast potential in green technology and high-tech agriculture, smart cities, manufacturing, renewable energy, e-commerce and education.

“Similarly, the energy sector presents significant opportunities while oil and gas (O&G) remain important revenue streams for Sabah. We welcome investors to also explore solar and storage technologies, hydro, geothermal, and carbon market opportunities,” he added.

Hajiji said that Chinese investments in the Kota Kinabalu Industrial Park (KKIP) have created jobs and spurred economic growth particularly in solar glass, food, and rubber manufacturing.

“We welcome advanced technologies like drones to optimise logistics and manufacturing while exploring other sectors to drive sustainable economic development,” he added.

To ensure a skilled workforce, Hajiji said the state government also encouraged partnerships for twinning programmes and cultural exchanges.

“We aim to promote joint educational programmes and cultural exchanges that will build bridges of trust and understanding between the people of Sabah and China,” he added.

Source: The Star

Sabah keen on Chinese investment in Blue Economy sector, says Hajiji

Prime Minister Datuk Seri Anwar Ibrahim’s recent diplomatic engagements in Egypt, Brazil and other global platforms have positioned Malaysia as a key player in balancing ties between the Global South and Western powers,

Universiti Malaya (UM) Security and International Relations analyst Collins Chong Yew Keat said Malaysia’s foreign policy, rooted in its non-aligned stance, is gaining momentum as the country expands its economic and diplomatic horizons.

“Malaysia has always been staunch in its stance on the foreign policy approach of non-alignment and has been free to dictate orientations and approaches in foreign policy direction.

“The orientation of late with the recent momentum has been quite clear, with efforts to increase fallback capacity and options with trade and economic diversification in a greater focus and courting of the Global South, while trying to maintain current economic, defence ties and capacities with the West,” he told Bernama when contacted.

Anwar concluded his 11-day international tour, which included participation in multilateral platforms such as the Arab and Islamic Summit in Riyadh, Saudi Arabia; the APEC Economic Leaders’ Week (AELW) in Lima, Peru; and the G20 Summit in Rio de Janeiro, Brazil.

During Anwar’s visits to the Middle East and Latin America, Chong pointed out that Malaysia continued its push to play a larger role beyond conventional ASEAN-centric mode.

“The overtures to and the trips to the Middle East and Latin America are seen as a continuation of Malaysia’s efforts to play a bigger role at the wider arena beyond the scope and limitations of regional power settings,” he added.

The engagements also align with the Madani framework, which seeks to integrate Malaysia’s economic transition with societal advancement.

“These overtures are part of the overall momentum to increase the parallel focus in advancing the economic transition of Malaysia with the new focus on digital economy, energy transition, and the role as a power balancer and stabiliser,” the analyst said, adding that Malaysia’s efforts aim to position the nation as a hub for investments and high-technology industries.

On ASEAN’s leadership, Chong specifically highlighted that the outcomes of Malaysia’s recent meetings are expected to give the country greater diplomatic leverage.

“New agenda setting of new causes and the affirmative, constructive, and practical action plans and policies being pledged and undertaken will be critical in ensuring that Malaysia is not only seen as the vocal and emerging power in bringing to light the strategic regional and global challenges and issues but being both pragmatic and bold in designing new approaches and solutions to both global and regional issues,” he said.

This approach, the analyst noted, involves portraying the ASEAN perspective while expanding partnerships with regions such as the Gulf Cooperation Council (CC) and the European Union (EU).

“This has been done with the courting of the GCC in further expanding the role and reach of ASEAN at the wider level, apart from the traditional ties with the EU and other established powers,” the analyst added.

Concurring with Chong, the Deputy Executive Director of Asia-Europe Institute (AEI) at Universiti Malaya, Associate Professor Dr Roy Anthony Rogers, said the Prime Minister’s recent official visits to several key nations and participation in major international summits signal Malaysia’s readiness to solidify its presence on the global stage.

He dubbed the move as a “shuttle diplomacy” to strengthen Malaysia’s bilateral and multilateral engagements, marking a proactive approach to advancing national interests.

“Anwar has adopted the shuttle diplomacy to enhance Malaysia’s national interest bilaterally by visiting the relevant countries and reaffirms our commitment to multilateralism by participating in the APEC and G20 Summits,“ he told Bernama.

Roy Anthony said the Prime Minister’s initiatives are also seen as groundwork for Malaysia’s chairmanship of ASEAN in 2025.

“The visits definitely help in promoting Malaysia’s interest that includes economic and business, diplomacy, voice heard and Malaysia as the Chair of ASEAN in 2025,“ he said.

Source: Bernama

PM Anwar’s global outreach boosts Malaysia’s diplomatic and economic positioning

The State Government will continue to attract more Chinese investments to set up factories in Sabah, increasing bilateral trade volume, said State Industrial Development and Entrepreneurship Minister Datuk Phoong Jin Zhe.

Phoong said after hard work in recent years, Sabah’s manufacturing sector’s Gross Domestic Product (GDP) grew by 4.4 percent in 2023, the highest among all states for the year.

He said the sector’s GDP contribution had nearly fallen below seven percent, which meant that Sabah almost had no industry at all, but fortunately, the figure has now climbed to 7.3 percent.

“We succeeded in achieving the fastest GDP growth rate for the manufacturing sector last year, but we cannot stay there. We cannot be rich without jobs.

“A state’s economy will not be prosperous without an industry or if the industry is not large enough,” he told reporters after officiating the Malaysia (Sabah) – China Business Summit Economic Forum and Expo at the Sabah International Convention Centre here today.

Phoong said the State Government does not need to set specific goals for recruiting investments from China, and the most important thing is to create more platforms and opportunities so that local companies can make use of them.

“It is impossible to double the amount of Chinese investments you attract within one year.

“You build the business slowly and attract more investments. That’s what trade is like,” he said.

He said that the State Government’s industrial development areas will be expanded for renewable energy, and they are also committed to agriculture, transportation and Blue Economy.

The minister also hoped for more Chinese companies to set up factories in Sabah and cooperate with local companies to promote Sabah’s industry.

Regarding the Malaysia (Sabah) – China Business Summit, he expressed gratitude to the participants from various parts of China as well as other countries in commemorating the 50th anniversary of Malaysia – China diplomatic relations.

Phoong said the theme of the event, “Sabah: A Future Together”, was set in the belief that in creating more space to work together on investment, business opportunities and trade, a better future can be built not only for Sabah, but all the entrepreneurs who had gathered for the summit.

He hoped that it will be a fruitful and successful session throughout the three-day event, with various activities prepared for the participants such as an economic forum with seven topics including agriculture, tourism and Smart City, an expo, as well as a cultural night show on the third day, November 24.

“Sabah may be best known for its beautiful sunsets and Mount Kinabalu, but now, it has become a promised land that is filled with opportunities and potential investments.

“With that, we hope that every one of the participants of this summit will have a wonderful session throughout it, as we strive to build stronger ties together,” he said.

Source: Borneo Post

Sabah continues to attract more Chinese investments

The New Investment Incentive Framework (NIIF) will balance complying with the Global Minimum Tax (GMT) while still keeping Malaysia competitive as an investment destination, said Datuk Johan Mahmood Merican, Secretary-General of Treasury, Ministry of Finance.

He said the government needs time to develop the NIIF because it wants to improve the current sector-based incentive system to a performance-based approach.

“And for the reason why we need that extra time … the Global Minimum Tax is a classic thing where developed countries bully developing countries to prevent us from introducing tax incentives, but at the same time we need to ensure that we have a framework of incentives that still makes us competitive as an investment destination so there are some areas that we are looking at to ensure that we remain competitive,” he said in a panel session at the 50th Deloitte TaxMax event today.

The NIIF is set to be implemented in the third quarter of 2025. The government has allocated RM1 billion for the initiative.

Johan stressed that real intention of NIIF is to show how the country ensures it transitions from the quality of investments rather than just quantity.

Under the new framework, incentives will no longer be automatically be granted to investors just because they operate in a promoted sector. “(Previously) in a promoted sector, and a large investor, they tend to get incentives,” he stated.

Johan suggested that the past approach may have contributed to Malaysia’s low tax-to-gross domestic product ratio as past incentives were too broad based.

“For example, one of the big debates today is we have very high FDR, there’s a lot of interest from data centres, but if we’re not careful, we might end up having a big investment in terms of value, but at the end of the day, a lot of data centres consume a lot of electricity and water, without necessarily creating jobs,” he said.

Johan stressed that the government wants investments that create high-income jobs as part of the transition and value-added. He said the government wants investments that not only bring high-income jobs but also support local businesses, especially small and medium-sized enterprises.

Additionally, the government plans to encourage investments in less-developed areas such as Kelantan.

Johan said the NIIF is also focusing on environmental, social and governance factors as part of the country’s long-term sustainability goals.

The 50th TaxMax, themed “Fostering Economic Growth the Madani Way, saw Deloitte tax professionals and guest speakers providing commentary on Budget 2025, focusing on Malaysia’s growth that is holistic, resilient and inclusive, while also uplifting the rakyat.

Source: The Sun

New Investment Incentive Framework will balance Global Minimum Tax compliance with keeping Malaysia competitive

Malaysia remains on high alert for any shifts in U.S. policies, particularly new tariffs that could disrupt supply chains, especially in the semiconductor sector.

Minister of Investment, Trade, and Industry Datuk Seri Tengku Zafrul Abdul Aziz highlighted industry concerns regarding the potential increase in import tariffs pledged during the recent U.S. presidential campaign.

“The main concern is tariff increases that could disrupt and raise the prices of semiconductor chips,” said Tengku Zafrul during a press conference here. 

He is accompanying Prime Minister Datuk Seri Anwar Ibrahim on a working visit to the G20 Summit. 

If the new U.S. administration under Donald Trump implements the proposal to raise the tariffs by 60 per cent on goods manufactured in China, there is a worry of an increase in production costs and semiconductor chip prices. 

“Price hikes could hinder the adoption of new technologies such as artificial intelligence (AI), which relies on semiconductor chips,” explained Tengku Zafrul. 

As a result, Malaysia sees the need to engage with local and multinational semiconductor companies, as well as with parties in the U.S., China, and Europe, to ensure that supply chains remain unaffected. 

Tengku Zafrul stated that his ministry is currently in discussions with companies involved in the industry to ensure the resilience of supply chains. 

“Their concern isn’t just about the supply chain but also about tariffs. There have been rumors, or during the recent U.S. presidential campaign, Trump indicated that he plans to increase tariffs in sectors like semiconductors and other strategic sectors. 

“But this is still speculative; it’s too early to say,” he remarked. 

However, he emphasized the need to be prepared for any eventuality. 

During his presidential campaign, Trump promised to increase tariffs by 10% or 20% on all goods imported into the U.S. and by as much as 60% on China-made products. 

Despite these challenges, Malaysia is seen to benefit from the ongoing trade war in terms of investment. 

“Many investors, particularly from China and Europe, are adopting a ‘+1 Strategy’ and choosing ASEAN as an alternative investment location. 

“This is because they want to reassess supply chains to ensure they are more resilient and secure,” said Tengku Zafrul. 

He highlighted Malaysia’s over 50 years of experience in the electrical and electronics (E&E) sector as a key attraction. 

Tengku Zafrul explained that so far, geopolitical tensions have had a positive spillover effect on ASEAN countries, as the bloc is viewed as strategic and neutral. 

“When we look at ASEAN, Malaysia is one of the countries selected because of our extensive experience in the electrical and electronics (E&E) field,” he said.

Source: NST

Malaysia on high alert for any shifts in U.S. policies – Tengku Zafrul

Malaysia’s investment landscape continues to grow despite global economic challenges, with approved investments reaching RM160 billion in the first half of 2024, an 18 per cent year-on-year (YoY) increase.

Over 60 per cent of these investments, totaling RM97.2 billion, were channeled into the rapidly expanding modern services sector, resulting in over 79,000 new jobs.

Speaking at a recent InvestKL event, Trade, Investment, and Industry Minister Tengku Datuk Seri Utama Zafrul Aziz emphasised the importance of leveraging this sector to transition from traditional manufacturing to a technology-driven economy.

Greater Kuala Lumpur has become a hub for global tech investments, with major companies like Google, Amazon, and Microsoft establishing cloud and data centers, while Oracle has committed to investing over US$6.5 billion to create a public cloud region in Malaysia. 

Honeywell, which set up its regional headquarters in Greater KL in 2017, has invested more than US$500 million, adding executive roles and strengthening partnerships with key local companies such as PETRONAS, KLIA, Malaysia Airlines, and AirAsia.

The presence of companies like AstraZeneca and Kamstrup further highlights Malaysia’s robust ecosystem, positioning Greater KL as a centre for innovation, technology, and growth. 

Datuk Muhammad Azmi Zulkifli, CEO of InvestKL, praised the country’s strategic efforts to attract high-value investments in areas like artificial intelligence (AI), data analytics, and smart city solutions.

“Modern services are the frontier for economic growth. It’s a digital-based economy that supports traditional sectors and drives competitiveness,” he said.

Azmi said that InvestKL’s collaborations are strengthening the supply chain and nurturing talent to help Malaysia achieve its goal of becoming a high-income nation by 2030.

However, he also acknowledged ongoing challenges, such as the need for clearer policies and a skilled workforce. 

“Malaysia must maintain its reputation for ease of doing business with adaptive, forward-thinking policies. Bringing back skilled individuals who have left Malaysia is critical to supporting our growth,” Azmi said.

The InvestKL event also featured insights from key institutions, including the World Bank, the Malaysian Institute of Economic Research (MIER), and Permodalan Nasional Bhd (PNB). 

Dr. Anthony Dass of MIER noted, “To sustain growth, Malaysia must modernise its manufacturing sectors and integrate modern services such as technology, communication, and business solutions.” 

PNB’s chief economist, Dr. Kamaruddin Mohd Nor, underscored the link between innovation and economic progress. 

“Economic growth hinges on innovation. To achieve this, we need a conducive ecosystem to foster innovation where startups and new ideas can come to fruition and deliver returns,” he said.

Kamaruddin said that many countries that rank high on the Global Innovation Index by the World Intellectual Property Organisation, prioritise institutional support, research, human capital, ease of doing business, and access to credit. 

“Malaysia should focus on encouraging innovation, especially in academic research and development.”

Panellist Yu Cao, an economist at the World Bank’s East Asia and Pacific Chief Economist Research Centre, emphasised the evolving relationship between services and manufacturing. 

“For Malaysia to sustain its growth, it must modernise its manufacturing sectors. International studies show a positive link between modern services, such as technology, communication, information, and business services, with the manufacturing sector.”

Malaysia must leverage this sector to transition from traditional manufacturing to a technology-driven economy, says the trade, investment, and industry minister.

Source: NST

Malaysia’s investment landscape improving despite global turmoil

Sarawak has recorded approved investments totalling RM10.43 billion across 212 projects for the third quarter of this year (3Q2024), which are expected to create about 5,400 new job opportunities, the Sarawak State Assembly was told on Wednesday.

Sarawak Minister of International Trade, Industry and Investment, Datuk Amar Awang Tengah Ali Hasan, said domestic direct investments (DDIs), which included reinvestments by existing foreign investors, utilising domestic funding, amounted to RM7.18 billion, while foreign direct investments (FDIs) contributed RM3.25 billion.

“The manufacturing sector was the largest contributor at 55.7%, attracting investments worth RM5.81 billion, followed by the services sector at 28.5% or RM2.97 billion, and the primary sector at 15.8% or RM1.65 billion. 

“These manufacturing projects were mainly in chemical and chemical products, totalling RM2 billion (urea, melamine and fertiliser); electrical and electronic products (solar ingots, wafer, cell and module), amounting to RM1.2 billion; and non-metallic mineral products (cement and clinker), totalling RM0.8 billion,” he said in his winding-up speech for his ministry here.

Awang Tengah, who is also Sarawak deputy premier, said the state continued to attract and facilitate investors in high-tech industries, including electronics, sustainable fuels, renewable energy and composite materials.

He said the amendment to the Electricity Ordinance last year had created more opportunities for investors to be involved in low-carbon power generation.

“For example, a recently signed joint-study agreement between Sarawak and an investor from Abu Dhabi will explore the floating solar power project’s potential in Murum.

“This project will further transform Sarawak’s energy landscape towards more renewable resources, spurring industrial advancement, as well as attracting green and sustainable investments,” he added.

Source: Bernama

Sarawak secured investments worth RM10.43b across 212 projects in 3Q2024, expects to create 5,400 jobs — state minister

Malaysia’s record achievement in attracting foreign direct investment (FDI) underscores its growing prominence as a key economic player within the ASEAN region.

Prime Minister Datuk Seri Anwar Ibrahim has described ASEAN as a “vital trade platform,” offering “simplified access to ten markets in Southeast Asia”, according to Forbes in an article released today.

Anwar, who is also the Finance Minister, recently sat down with Forbes to discuss how the country’s resources and regional connections can benefit companies seeking to establish a presence in the region.

During the interview, the Prime Minister also highlighted the country’s central role within the bloc, emphasising actions to streamline trade flows and reduce bureaucratic hurdles to attract foreign investment.

He also explained Malaysia’s strategic geographic position, which enables broader trade opportunities with non-ASEAN partners, including Australia and India.

Apart from that, the Prime Minister also emphasised trade facilitation and economic partnerships, which reinforces Malaysia’s regional relevance.

The article also pointed out that by integrating Malaysia into a larger regional strategy, companies can unlock its potential as a gateway to Southeast Asia while navigating the complexities of an increasingly interconnected global economy. Nevertheless, it said businesses should prioritise analytical evaluations of Malaysia’s policies and market conditions rather than rely solely on government policies.

Within this dynamic regional landscape, the article said Malaysia exemplifies ASEAN’s economic appeal, attracting a record US$74 billion in approved FDIs in 2023 – the highest in its history.

By mid-2024, the article noted that Malaysia had already secured an additional US$36 billion, further cementing its pivotal role within ASEAN and highlighting the region’s attractiveness to global investors.

Source: Bernama

Malaysia’s record FDI solidifies position as key economic player in ASEAN – Forbes

As Southeast Asia cements its role as a key player in the global economy, Malaysia is positioning itself as a prime entry point for businesses seeking to tap into the region’s growing market.

In a recent interview with Forbes, Prime Minister Datuk Seri Anwar Ibrahim outlined Malaysia’s unique advantages and its efforts to attract foreign investment by leveraging its strategic location and strong ties within Asean.

Anwar described Asean as a “vital trade platform” that simplifies access to ten Southeast Asian markets.

He highlighted Malaysia’s central role in the bloc, emphasizing government initiatives to streamline trade processes and reduce bureaucratic hurdles to draw global businesses.

Additionally, the report said that Anwar noted Malaysia’s strategic geographic location, which enables trade expansion not only within ASEAN but also with partners such as India and Australia. 

“Malaysia’s strategic geographic location not only enhances intra-Asean trade but also offers significant opportunities with key non-Asean partners,” Anwar told Forbes. 

To support Anwar’s analysis, Chidiebere Ogbonnaya, a professor of human resource management at King’s Business School, King’s College London said Malaysia’s commitment to trade facilitation reflects a broader global trend of governments strategically positioning themselves to integrate into and maximise the benefits of global value chains.

“Countries like Malaysia are leveraging their location and policy frameworks not only to attract investment but also to embed themselves within the production networks of advanced and emerging economies,” he explained to Forbes. 

In the report, Ogbonnaya also suggested that Malaysia exemplifies the theoretical framework of global value chain integration, where state-led initiatives and strategic geographic positioning enable firms to streamline cross-border operations, integrate into regional production systems, and enhance their participation in interconnected global economies.

According to Forbes, Malaysia’s robust infrastructure, thriving digital economy, and proactive trade policies make it an attractive destination for firms aiming to establish a presence in Southeast Asia.

However, Forbes said while these factors present clear opportunities, business leaders are encouraged to carefully assess Malaysia’s market conditions and regulatory landscape to maximise their potential for success. 

Overall, Forbes said Anwar’s emphasis on trade facilitation reflects Malaysia’s ambition to serve as a key regional hub.

Nevertheless, the report said businesses should prioritise analytical evaluations of Malaysia’s policies and market conditions rather than rely solely on government-promoted narratives.

By integrating Malaysia into a larger regional strategy, firms can unlock its potential as a gateway to Southeast Asia while navigating the complexities of an increasingly interconnected global economy, it added.

Source: NST

PM positions Malaysia as prime entry point into Southeast Asia – report

International partnerships and foreign investments, especially in the green technology sector, should enable Sarawak to record a double Gross Domestic Product (GDP) of RM280 billion by 2030, said Premier Datuk Patinggi Tan Sri Abang Johari Tun Openg.

According to him, Sarawak is expected to achieve a double GDP from RM140 billion in 2022 to RM280 billion by 2030.

“Under the Post-Covid19 Development Strategy 2030 (PCDS 2030), we have three main thrusts, namely economic prosperity, social inclusion and environmental sustainability, and of course, to implement them, the enablers are innovation, digital infrastructure and education.

“This ecosystem that we will implement and by the end of it, by 2030, we will be able to achieve a GDP of RM140 billion to RM280 billion, which is our target,” he said when delivering a keynote address for a RAM Conference themed ‘Advancing an Inclusive and Sustainable Future – Spotlight on Sarawak’, at a hotel here today.

On investments, Abang Johari said Sarawak was currently collaborating with Japan and Korea in hydrogen production, which should produce about 240,000 tonnes of hydrogen to be exported to the two countries by 2028.

Sarawak is the first state in Malaysia to have carbon trading legislation, namely the Environment (Reduction of Greenhouse Gas Emissions) Ordinance 2023, which took effect on March 1 this year.

“The federal government is paying attention to this matter. They came to Sarawak to collaborate on the legislation that we had enacted for them to introduce in (Parliament) in December.

“We (Sarawak) are the first to enforce this legislation.”

With regard to PCDS 2030, Abang Johari stressed that Sarawak was very concerned about the climate change happening now.

He added that the state government had been actively involved in tree-planting activities, especially for mangrove forests, deemed as the best carbon storage compared to regular forests.

However, he said to carry out environmental sustainability activities, especially in addressing climate change in line with efforts towards achieving the ‘Net Zero 2050’ goal, it would require large funding.

“In addressing global climate change, one problem faced is finance because any approach in addressing climate change, you need a large capital in addition to equipment in our efforts towards achieving Net Zero 2050.

“For that reason, this is where developed countries play their role in financing all the related projects. I hope the financial community would find ways and approaches to finance all these projects.”

Also present at the event were Deputy Minister of Energy and Environmental Sustainability Sarawak Datuk Dr Hazland Abang Hipni; Development Bank of Sarawak (DBOS) chairman Tan Sri Datuk Amar Mohd Morshidi Abdul Ghani; and RAM Holdings chairman Datuk Kamaruddin Taib.

RAM Holdings Bhd operates as a holding company and, through its subsidiaries, provides independent credit ratings, research, training, risk analysis, environment-social-governance (ESG) analysis, and bond-pricing services.

During the RAM Sustainability Awards 2024 presentation, Abang Johari was honoured with the ‘Sustainability Steward of the Year’.

Three other ‘RAM Sustainability Awards’ were also presented to Press Metal, Sarawak Energy Bhd, and Sarawak Oil Palms.

Source: Borneo Post

Premier: Global collabs among key boosts for S’wak to post RM280 bln in GDP by 2030

Prime Minister Datuk Seri Anwar Ibrahim held a meeting with the President of France, Emmanuel Macron, on the sidelines of the G20 Summit in Rio de Janeiro, Brazil.

“During this meeting, we expressed our commitment to continue to strengthen relations and cooperation between the two countries.

“It covers the fields of trade, investment, tourism and defence as well as cooperation in the field of Artificial Intelligence (AI),” he told Malaysian reporters here on Monday.

 Datuk Seri Anwar Ibrahim also held a bilateral meeting with the French president in conjunction with the G20 Summit held at the Museum of Modern Art (MAM) today.

Anwar and Macron discussed Malaysia’s role as Asean chair 2025 and the Malaysian prime minister expressed his appreciation to Macron for his support through the Asean-France Development Cooperation.

In addition, the two leaders also had time to discuss the genocide that occurred in Palestine which requires a ceasefire as soon as possible and the cooperation of all parties to end the suffering of the people there.

Also present during the meeting was Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

Source: Bernama

Anwar, Macron discuss trade, AI collaboration at G20 summit

It has been a busy November for me, having first accompanied the prime minister on his visit to the China International Import Expo (CIIE) in Shanghai and Beijing, then to Egypt before we headed to the 31st Asia-Pacific Economic Cooperation (Apec) Economic Leaders’ Week (AELW) in Peru.

It is a gruelling schedule but international engagements, including forums like Apec, are crucial to Malaysia, particularly given the geopolitical developments in recent years.

As early as 1989, Malaysia became one of the founding economies of Apec, which arguably remains a cornerstone of regional economic integration and collaboration.

This year’s Apec AELW, with the theme of “Empower-Include-Grow” sought to tackle pressing challenges and reinforce commitments to inclusivity and sustainability. This was particularly significant given Malaysia’s upcoming chairmanship of Asean in 2025 and the recent re-election of Donald Trump as US president, introducing new variables into the global “chess board” of economic prowess and positioning — something everyone was talking about in Lima.

Being part of Apec matters to and benefits Malaysia on several fronts. First, with a combined population of three billion, Apec’s 21 member economies represent approximately 62% of the world’s gross domestic product (GDP) and 47% of global trade. Aside from trade, Apec also facilitates investments, capacity building and knowledge sharing.

In 2023, Apec’s GDP grew by 3.5%, surpassing the global growth rate of 3.2%. This was driven by robust household spending and a resilient services sector, notably the recovery of travel and tourism. The same 3.5% growth rate is forecast for Apec in 2024. Although geo­political uncertainties, trade protectionism, and commodity price fluctuations may temper growth to 3.1% in 2025, there is undoubtedly resilience in our combined strength.

In terms of enhancing trade, as of July 2023, member economies had signed a combined total of 212 free trade agreements (FTAs), with 202 in force. Notably, 74 of these FTAs are intra-Apec, involving at least two member economies, and to good effect for us — in 2023, Apec economies accounted for 78.1% or over RM2 trillion of Malaysia’s total trade, while contributing 57.2% or RM107.8 billion of total approved investments across all sectors in Malaysia. In short, one can safely presume that the Apec membership has supported Malaysia’s economy in a big way.

Meanwhile, Malaysia intends to leverage its chairmanship of Asean in 2025 to bring about synergistic benefits between the Apec economies and the Asean member states, seven of which are also in Apec. Asean, arguably, is also at the heart of Apec geographically, strategically and economically.

This rare dual-role opportunity places Malaysia in a unique position to strongly advocate for both forums to pursue a balanced, non-polarising approach in the Indo-Pacific, with a clear call to action for member economies to deepen their collaborative focus on inclusivity, innovation, equitable growth and sustainability.

Indeed, Malaysia’s 2025 Asean chairmanship theme of “Inclusivity and Sustainability” is very much aligned to Apec’s 2024 theme, as both frameworks seek to prioritise the digital economy, green technologies, and support for small and medium enterprises, to pave the way for regional stability and shared prosperity.

A rules-based international system is key

But Apec’s most important contribution moving forward might be its role in enshrining a multilateral, rules-based international system. Trump’s return to the US presidency resurrects concerns that his previous “America First” policies will result in a further retreat from multilateralism, vis-à-vis Apec and other regional frameworks, although admittedly, the new administration’s official policies will only be known post-inauguration of the new US president.

However, I would likewise posit that this development also presents us with opportunities. Apec has been and can continue to serve as a platform for the US to engage constructively with the region on economic issues like supply chain resilience, strategic resources and digital trade.

Indeed, we are hopeful that the new Trump administration will approach global trade with pragmatism and a clear view of the mutual benefits of multilateral engagement, which will complement Apec’s cooperative ethos.

Apec has proven its effectiveness in fostering cooperation among diverse economies, enabling them to address shared challenges such as economic inequality. In the context of Apec, adherence to an agreed-upon rules-based system facilitates trade liberalisation, investment flows and economic integration to promote stability in international relations. It also provides mechanisms for dispute resolution and the enforcement of agreements, which are crucial for maintaining trust.

Moreover, a rules-based system upholds the sovereignty of nations while encouraging them to collaborate on global issues. This balance is key to avoid unilateral actions that can lead to conflicts and economic disruptions.

Cooperation, not conflict, for global progress

The US and China, as the two largest economies within Apec, remain pivotal to the world’s economic trajectory. This year, their economies are expected to grow by 2.5% and 4.8% respectively. In the long run, concord between the US and China is the best outcome for not only their peoples, but also the wider world.

While we may not agree on everything, I believe the Trump White House will find Malaysia, as well as Apec and Asean willing to engage with them to ensure peace, stability and prosperity in our region and beyond. When it comes to trade and investment, we believe Malaysia’s neutrality is valuable, not only to our own foreign and economic policies, but also as a bridge between rival powers. Ours is neutrality in engagement, not in isolation, to help address global supply chain vulnerabilities, economic shocks and climate-related disruptions.

Regardless of what is happening globally, Malaysians can rest assured that the government will continue to proactively navigate whatever implications arise to protect the rakyat’s interests. Indeed, recent geopolitical developments validate our strategy to be friends to all, without suppressing Malaysia’s strong views on glaring global injustices. Indeed, our continued participation in international forums like Apec, as well as new ones like the BRICS reflect Malaysia’s desire for more constructive engagement to bring about a better counterbalance of superpowers in the global world order.

As the world grapples with geopolitical realignments and economic uncertainties, institutions like Apec and Asean must stand as a beacon of multilateralism, resilience and innovation, especially in fostering deeper cooperation and consensus-based decision-making. When all is said and done, the world’s ability to thrive for the many needs more, not less constructive multilateralism.

Tengku Datuk Seri Zafrul Abdul Aziz is the minister of Investment, Trade and Industry

Source: The Edge Malaysia

Malaysia’s strategic position in shaping regional economic collaboration

The new leadership change in the US is expected to affect the global trade landscape, particularly in trade relations between the US and China.

The Ministry of Investment, Trade and Industry (Miti) said that should the geopolitical issues continue, there is a greater opportunity for other countries such as Malaysia to become alternative destinations for multinational companies to increase or start their investments.

According to Miti, the government has introduced various initiatives to attract investors to move or expand their operations in Malaysia as a result of the US-China trade war.

Among the initiatives are making the semiconductor industry a major programme under the New Industrial Master Plan 2030 (NIMP 2030), drafting a National Semiconductor Strategy, including efforts to modernise the existing outsourced semiconductor assembly and test companies, which is an important element in the semiconductor value chain.

The government will also strengthen existing infrastructure, focus on local talent and encourage  government-linked investment companies to invest in local semiconductor companies, Miti said in a written reply on the parliament website on Monday to a question posed by Mohd Syahir Che Sulaiman (PN-Bachok) during a question session in Dewan Rakyat on Monday. 

Mohd Syahir inquired what the government’s plan is for the growth of the semiconductor industry in line with NIMP 2030 in view of the US-China trade war.

Source: Bernama

US-China trade war can boost Malaysia’s chances to be multinational investment destination — MITI

A total of 2,132 investment projects in the manufacturing and services sectors have been approved in Selangor from 2023 to June 2024, with a combined investment value of RM90.21 billion, said Selangor Exco for Investment, Trade, and Mobility Ng Sze Han.

For 2023 alone, he noted that 1,311 investment projects were approved, amounting to RM55.24 billion, while from January to June 2024, 821 projects were approved with a total investment value of RM34.97 billion.

Ng also highlighted that these investments created 63,912 job opportunities in Selangor during the same period, reecting the positive development of the economic sectors.

He was responding to questions from Muhammad Izuan Kassim (PH-Kota Damansara) and Quah Perng Fei (PH-Bandar Baru Klang), who enquired about the amount of investment in Selangor for 2023 to 2024 during the Selangor State Assembly session here today.

Ng added that the state government has set a target of RM50 billion in investments for the manufacturing and services sectors this year, with RM15 billion allocated to manufacturing and RM35 billion to services.

To achieve that target, he said the state government, through Invest Selangor, has implemented various initiatives, including organising investment promotion programmes, developing new industrial areas, and conducting regular project coordination meetings.

Source: Bernama

Selangor records RM90.21 bln investment in manufacturing and services sectors

The introduction of the Investment Incentive Framework (IIF2025) in 2025 Budget marks a transformative step to revolutionise Malaysia’s investment landscape.

InvestKL said the step aligned to InvestKL’s focus on attracting modern services investments in areas such as Artificial Intelligence (AI), robotics, internet of things. data science and fintech.

InvestKL chief executive officer Datuk Muhammad Azmi Zulkifli said the 2025 Budget is a comprehensive and forward-looking plan to accelerate Malaysia’s economic growth.

“The introduction of IIF2025 prioritises emerging sectors and reskilling the workforce to meet industry demands, aligning with InvestKL’s mission to draw high-quality investments in the modern services sector.”

As Malaysia prepares to chair Asean in 2025 and explores joining BRICS, the 2025?

Budget positions the nation and Greater Kuala Lumpur to seize global opportunities, further solidifying their standing in the international investment landscape,” he said.

InvestKL added that targeted fiscal measures and incentives in the 2025 Budget will accelerate key sectors, including green technology, digital economy, and advanced manufacturing.

It said the 2025 Budget places a significant emphasis on expanding Malaysia’s modern services sector, a move set to profoundly impact the rakyat’s economy.

It said these measures are critical in advancing Malaysia’s roadmap towards becoming a high-income nation by 2028.

“The recent influx of foreign direct investments is poised to be a catalyst for the creation of high-skilled jobs across diverse sectors.”

“The influx is not just a financial boon; it is a transformative force that will significantly elevate the quality of employment opportunities available to Malaysians.”

“As these high-skilled jobs proliferate, they will infuse the nation’s economic engine with new vigour, driving growth and innovation,” it added.

Source: NST

2025 Budget to revolutionise Malaysia’s investment landscape: InvestKL CEO

Strong cooperation between ASEAN and APEC remains a key agenda to ensure sustainable development and stronger economic integration in the region, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Aziz.

As Malaysia’s representative, he is confident that this commitment will continue to strengthen the country’s position in shaping a more inclusive, sustainable, and competitive Asia-Pacific economic future.

During a dialogue session with the APEC Business Advisory Council (ABAC) and APEC economic leaders, he emphasised Malaysia’s vision to drive sustainable growth and regional economic transformation.

“As Malaysia prepares to lead ASEAN in 2025, we are committed to strengthening the green economy, accelerating digital transformation, and ensuring economic inclusivity, with strong support from our regional partners under the ASEAN-APEC framework.

“I also shared Malaysia’s success in attracting foreign direct investment (FDI), particularly in the data and semiconductor sectors. These two sectors are now critical pillars in strengthening the country’s economic resilience,” he said in an Instagram post on Friday.

Tengku Zafrul added that Malaysia also believes that close cooperation between the public and private sectors plays an essential role in achieving mutual benefits for all member countries.

Through such cooperation, he said, it would ensure sustainable economic development and a more robust regional integration.

Tengku Zafrul is currently in Lima, along with the Malaysian delegation led by Prime Minister Datuk Seri Anwar Ibrahim, who is on an official visit to the capital, attending the 31st Apec Economic Leaders’ Week.

APEC member economies represent approximately three billion people or nearly 30 per cent of the global population.

These countries also account for nearly 60 per cent of the global gross domestic product and facilitate almost 50 per cent of global trade.

Source: Bernama

Strong ASEAN-APEC cooperation key to sustainable development, economic integration – Tengku Zafrul