Pakistan-Malaysia launch business council
The Federation of Pakistan Chambers of Commerce and Industry (FPCCI) and the National Chamber of Commerce and Industry of Malaysia (NCCIM) are to launch a Joint Business Council for the promotion of bilateral economic relations. The first joint meeting of the Council will be held in Kuala Lumpur and will look at ways to enhance the existing level of bilateral trade and investment between the two countries. It will also encourage the transfer of technology and strengthen co-operation in a range of economic areas.
January 27th, 2010
Economic growth to top 5% says Minister
The Malaysian economy is expected to grow by more than five percent this year, said Minister in the Prime Minister’s Department, Tan Sri Nor Mohamed Yakcop. “We are confident of achieving more than 5 per cent growth this year. There is a lot of evidence to show that 2010 would be a good year,” he said. Yakcop said that Malaysia is expected to see growth in demand for electronic chips, crude oil, palm oil and rubber. And he added that there is likely to be healthy growth in the tourism, healthcare and private education sectors.
January 27th, 2010
Inflation at no more than 2%, says Minister
Inflation in Malaysia is not expected to be higher than two percent this year, said the country’s Second Finance Minister, Seri Ahmad Husni Hanadzlah and he added that further stimulus packages are not necessary. “Based on the fiscal policy and monetary policy, we believe inflation will remain at between 1 and 2 per cent and we don’t think there is a need for more stimulus packages,” he told reporters. The Minister added that the government Husni was planning to divest stakes in up to 17 government-linked companies (GLC’s) this year in a number of sectors to boost competitiveness. “We...
January 27th, 2010
Malaysia sees opportunities in Saudi Arabia
Malaysia has identified a number of economic opportunities in Saudi Arabia. During a visit to the Kingdom, Prime Minister Najib Razak said that relations between the two countries are “very important and strategic”. And he added, “I hope that we’ll be able to expand economic linkages between the two countries not only in terms of trade but also in areas like Islamic finance and insurance, halal food and real estate development.” Trade between Malaysia and Saudi Arabia reached US$1.8 billion between January-November 2009. “I believe that in terms of future prospects,...
January 27th, 2010
Dyson to expand in Malaysia
Dyson, the world’s biggest vacuum cleaner manufacturer, is to expand its production facility in Malaysia, said its International and Commercial Director, Sir Richard Needham. Needham says that the quality of engineers in Malaysia “is excellent and is at the highest order.” Dyson recently closed a manufacturing plant in China and is moving production as well as design engineering to Malaysia. Dyson has been making its products in Malaysia for 10 years through local sub-contractors. The company has 35 per cent of the world’s vacuum cleaner market by value and is the best...
January 27th, 2010
Malaysian PM’s Chennai visit “well received”
Prime Minister Najib Razak, has been warmly received during his two-day visit to Chennai in India. Local press reports say that the visit – the first ever by a Malaysian Prime Minister to the state of Tamil Nadu – will strengthen historic ties between Malaysia and the state. Malaysia’s Deputy Foreign Minister A. Kohilan Pillay, who is accompanying the Prime Minister, says Chennai has been included in the visit to India “because of the longstanding and special ties between Malaysia and Chennai. Not only in terms of family ties but also in terms of business, investment and others.” The...
January 22nd, 2010
Malaysian Tourism looks at new areas
Malaysia’s Tourism Ministry is to promote new sectors including sport and railways, in a bid to attract more visitors to the country. Tourism Minister Dr. Ng Yen Yen told reporters that scenic railway trips, for example, are increasingly popular and that several stations would be upgraded to draw more tourists. “Travelling by train to various states especially Kelantan will be a unique experience, which would enable tourists to sample the cultures of the people,” she told reporters. She added that Kelantan offers visitors tropical rainforest, waterfalls, a national park, exotic dishes,...
January 22nd, 2010
Malaysia bids to host 2013 IOC Congress
Malaysia has submitted bids to host the International Olympic Committee’s (IOC) congress in 2013 and the 2019 Asian Games for the first time. The Olympic Council of Malaysia’s (OCM) secretary Sieh Kok Chi said, ”The outcome of the IOC congress will be known soon but the results for the 2019 Asian Games host job would only be known by 2012. It’s a long process, especially bidding for the Asian Games.” Youth and Sports Minister Datuk Ahmad Shabery Cheek will lead a delegation to an IOC session in Vancouver, Canada, during the Winter Olympics to make a final presentation....
January 22nd, 2010
Malaysia to get carbon neutral city?
Malaysia may in future, get its first carbon-neutral city following the signing of a cooperation agreement between the 1Malaysia Development Bhd and the Masdar company of the United Arab Emirates. Masdar, a subsidiary of Mubadala Development Company which is investing in Iskandar, is behind the Masdar City project in Abu Dhabi which is being promoted as the world’s first carbon-neutral city thanks to its use of energy from renewable sources and the recycling of all waste. The agreement involves both companies agreeing to explore carbon reduction projects and provide venture capital for clean...
January 22nd, 2010
Malaysian PM’s visit to India to boost ties
Malaysian Prime Minister Najib Razak’s visit to India is expected to boost bilateral ties in trade and investment as well as enhance cultural and political links. Najib said India and Malaysia could be strategic partners in developing better trade volume and improve upon the current US$10 billion (RM35 billion) bilateral trade. “India is promising, the future between both countries is enormous but the bilateral relations have not been fully tapped. It makes sense for us to look to India as key source for bioscience, ICT (information and communications technology) and education,”...
January 22nd, 2010
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