News Bites: 11 January 2018

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  • Malaysia’s Economy to Expand 5.2 Pct In 2018
  • Wholesale, Retail Trade Sales Value Rises to RM97.7 billion in Nov 2017
  • SME Entrepreneurs More Aggressive to Seize Opportunities
  • First Asia Pacific Festival of Artistes With Disabilities Celebrates The Most Exceptional Talents
  • Global Tourism Market Expects to See Growth by 2020, driven by Adventure and Medical Tourism

RAM: Malaysia’s Economy to Expand 5.2 Pct In 2018

Malaysia’s gross domestic product is expected to expand by 5.2 per cent in 2018, on the back of strengthening domestic demand and resilient external markets. RAM Rating Services Economist, Kristina Fong, said hiring activities and labour force was becoming healthier this year, which would help boost domestic demand. She said, investment activities also looked promising, adding that from the interviews conducted by the rating agency with firms as well as its survey, the companies were increasing their investments. “The unknown going into 2018 is how the external environment holds up. From our indicators, there is resilience in external demand,” she said.

Wholesale, Retail Trade Sales Value Rises to RM97.7 billion in Nov 2017

Malaysia’s wholesale and retail trade sales value rose by nine per cent to RM97.7 billion in November 2017 as compared to the corresponding period in 2016. The Statistics Department said the sales value consisted of wholesale trade (RM47.7 billion), retail trade (RM38.1 billion) and motor vehicles (RM12 billion) businesses. The positive growth was contributed by the retail trade and wholesale trade businesses which rose by 10.5 per cent and 9.6 per cent respectively.

SME Entrepreneurs More Aggressive to Seize Opportunities

Deputy International Trade and Industry Minister, Datuk Ahmad Maslan said entrepreneurs in the small and medium enterprises (SMEs), especially Bumiputeras, are more aggressive to seize opportunities to develop the sector through the allocation of RM22.2 billion by the federal government for this year. The allocation, the largest in history, is aimed to encourage Malaysians to become a race of entrepreneurs and make 2018 the ‘Year of Successful Entrepreneurs’. “The allocation will be given out as easy loans, direct and matching grants where we want to ensure that the micro enterprises now would be turned into medium-scale enterprises. “So far, we have about 900,000 SMEs, including online businesses, and 37 per cent of them are Bumiputera entrepreneurs,” he told reporters in Kuala Lumpur.

 

First Asia Pacific Festival of Artistes With Disabilities Celebrates The Most Exceptional Talents

 

Singapore will host the True Colours Festival – the Asia Pacific Celebration of Artistes with Disabilities. Some 20 exceptionally talented artistes/troupes will converge in Singapore for what will be the first and largest gathering of artistes with disabilities to perform in the event. True Colours is presented by UNESCO and The Nippon Foundation (TNF), two international organisations which champion the rights of persons with disabilities (PWDs). It is produced by Very Special Arts Singapore (VSA) and supported by many partners including Platinum Partner DBS, Venue Partner Singapore Sports Hub and the Asia-Pacific Development Centre on Disability (APCD). The festival comprises a ticketed multimedia indoor concert experience at the Singapore Indoor Stadium, a free admission outdoor festival village just a short walk away, and an international conference on arts and disability.

Global Tourism Market Expects to See Growth by 2020, driven by Adventure and Medical Tourism

Increasing per capita income is driving the growth of global tourism market leading to continuous growth in international tourism. Over the last five years, tourism market in emerging economies, especially countries in South America and Asia have actually propelled the global tourism market. The world tourism market has undergone a lot of changes in recent times. Promising economies now account for more market share as compared to the developed economies. Adventure tourism is now a new concept in tourism market which is driving the overall tourism market. Medical tourism is also a new trend that is fetching revenue in global tourism market. Global sports and game events is another major factor driving the global tourism market. People travel to enjoy sports events like FIFA World Cup 2014, London Olympics 2012 and ICC World Cup 2011. However, disease outbreaks like Ebola in specific countries affect the global tourism up to large extent. For example, Ebola outbreak in West Africa affected the tourism market in African region.

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