Government promises financial aid for universities
In a bid to increase scientific talent in Malaysia, Prime Minister Najib Razak says the government will do whatever it takes and provide financial support for university research. He says Malaysia needed more scientists, researchers, innovators and pioneers in the science and technology sector. ”In terms of manpower, to date, Malaysia had only achieved 18 per cent of the Ninth Malaysia Plan which targets to have 60 researchers, scientists and engineers for every 10,000 people in the workforce. The government is willing to do whatever it takes to address the shortfall in scientific talent,...
December 29th, 2009
Liberalisation creates more opportunities, says MIDA
The Malaysian government’s raft of liberalisation and deregulation measures have created opportunities for businesses and investors, says the Malaysian Industrial Development Authority (MIDA). MIDA chairman Sulaiman Mahbob says that liberalisation of the services sectors has helped the country’s recovery in the face of the global economic downturn. “It has encouraged a greater private sector role in undertaking economic activities and in creating more jobs,” he said. And in a paper called “Economic Challenges, Public Policies and Corporate Strategies”, he adds, ”In...
December 29th, 2009
Malaysia is Germany’s top trading partner
Malaysia was Germany’s top trading partner in Asean in the first eight months of 2009, according to the Hamburg-based German Asia Pacific Business Council. However, the global economic downturn has taken its toll and Malaysia’s exports to Germany between January and August 2009 were worth 2.405 billion euros, down 17.1 per cent from the same period last year. Imports from Germany declined 23 per cent to 2.016 billion euros from 2.618 billion euros previously. Singapore is the second largest exporter to Germany with exports worth 2.135 billion euros in the first eight months of 2009.
December 29th, 2009
Malaysia auto sales up 10.6 percent
Malaysian car sales rose 10.6 percent year-on-year in November as demand began to pick up, says the Malaysian Automotive Association (MAA). The rise to 45,200 was up from the 40,865 units sold in the same month last year it said in a statement. “The year-on-year expansion of sales volume is expected to continue in December, although the month-on-month volume is likely to be lower,” the MAA said, adding that this was partly due to the year-end holiday season. November was the second consecutive month Malaysian auto sales expanded, after a 22.9 percent year-on-year jump in October, pointing...
December 29th, 2009
Malaysia wants to be global aerospace hub
Malaysia’s Ministry of Finance says the country should become a global hub for international aerospace. And in order to boost the industry and attract foreign direct investments, a tax incentive package is to be introduced. This will focus on four areas: design, manufacturing and assembly; operators; support and regulatory.
December 29th, 2009
Malaysia, Saudi Arabia to boost cooperation
Malaysia and Saudi Arabia have agreed to boost cooperation in a number of sectors. During a two-day visit to Saudi Arabia, the Malaysian Foreign Minister Anifah Aman, said that Saudi Arabia’s King Abdullah had indicated that his country might play a greater role in Islamic banking, products and services in Malaysia. Anifah said that he discussed with his Saudi counterpart the participation of Malaysian businesses in major construction projects being undertaken by Saudi Arabia. The two ministers also discussed cooperation between Malaysia and Asean with GCC countries. Malaysia’s Prime Minister,...
December 29th, 2009
Malaysia and South Korea to cooperate – Minister
Malaysia’s International Trade and Industry Minister Mustapa Mohamed says Malaysian and South Korean businesses should work together to ensure continued success in bilateral trade and investment. Mustapa said South Korea has great high tech experience – a sector in which Malaysia wants to expand. “Perhaps this is one area where Korean entrepreneurs, research and development specialists and private sector players can work collaboratively with the Malaysian business community to gain mutual benefits,” he said. “The Malaysian government is keen to see Malaysia transform more quickly...
December 29th, 2009
PGA Tour will come to Malaysia next year, says PM
Malaysia will host the PGA Tour next year and will become the first South East Asian nation to take part in the prestigious golf competition. The inaugural tournament will be held at the Mines Resort and Golf Club in Seri Kembangan and total prize money of US$6 million will be on offer with the winner taking home US$1 million. “It was my childhood ambition to see the PGA Tour brought to Malaysia and now it will become a reality,” says Malaysia’s Prime Minister Najib Razak. Hosting the competition is expected to boost tourism, says the Prime Minister, as over 400 million households in 200...
December 29th, 2009
Proton needs to be more competitive, says Minister
Malaysia’s national car company, Proton Holdings, needs to become more competitive in the global automotive industry and take advantage of links with the Asean market, says Deputy Prime Minister Muhyiddin Yassin. He said the national car company needed new marketing and production strategies to make it a bigger player on the international scene. “Depending on government support is not enough,” he told reporters. And he added, “They need to increase their competitiveness. They should be able to compete not only domestically but also internationally.” Muhyiddin said that penetrating the...
December 29th, 2009
Malaysia’s outward investment up 26% says UN
Investments of US$14.06 billion flowed out of Malaysia last year, up 26 per cent from a year ago, says the United Nations Conference on Trade and Development World Investment Report. “The sizeable increase in Malaysia’s outward investment in 2008, as in previous years, is a reflection of Malaysia’s more globalised and integrated position in the world economy,” said Datuk Dr Zainal Aznam Yusof, council member of the National Economic Advisory Council. In 2008, foreign direct investments into Malaysia fell 4 per cent to US$8.053 billion, says the UN.
December 21st, 2009
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