• MIDA Reviewing RM600 mln Projects From 10 Japanese Companies
  • SMEs’ GDP To Grow by Between 6.5-7.5 %
  • Malaysia to top “Mighty Five” Manufacturing Nations By 2020
  • MIDA Welcomes More OEMs, Tier 1 Firms to Aerospace Sector
  • Fed survey shows signs of inflation, rising wages in US

MIDA Reviewing RM600 mln Projects From 10 Japanese Companies
International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the Malaysian Investment Development Authority (MIDA) is currently reviewing a few projects worth RM600 million from 10 Japanese companies. “There has always been a strong flow of investment from Japan, across a wide section such as the manufacturing sector, services and infrastructure. We have some projects in the pipeline worth about RM600 million. “I hope that some of these proposals will be finalised in the next few weeks,” he said. For the first half of this year, MIDA approved a total of 16 manufacturing projects from Japanese companies worth RM559 million, with 75 per cent of these reinvestments by those already operating here. (Bernama)

SMEs’ GDP To Grow by Between 6.5-7.5 %
The small and medium enterprises’ (SMEs) gross domestic product (GDP) is expected to grow by between 6.5 per cent and 7.5 per cent next year following the higher allocation for the sector in Budget 2018. Prime Minister Datuk Seri Najib Tun Razak said the government has allocated RM22.2 billion to implement various programmes for SMEs, a significant increase compared to the previous year. “This constant support is crucial to developing SMEs through provision of financing credit, capital guarantee schemes, easy lending, grant schemes and also providing tax exemptions for capital markets covering various activities and products,” he said. For this year, SMEs’ GDP is estimated to register a growth of 5.1 per cent due to good performance in trading activity. Datuk Seri Najib also announced that so far, 1,997 SMEs were ready to export through Malaysia’s Digital Free Trade Zone (DFTZ) platform. (Bernama)

Malaysia to top “Mighty Five” Manufacturing Nations By 2020
Malaysia is poised to become the leader among the “Mighty Five” nations that are emerging as top manufacturing countries by 2020, according to the United States (US) Council on Competitiveness. The “Mighty Five” refers to the five Asia Pacific nations of Malaysia, India, Thailand, Indonesia, and Vietnam which are expected to pierce the top 15 nations on manufacturing competitiveness over the next five years. The US Council on Competitiveness president and chief executive officer Deborah L. Wince-Smith said the base and foundation that Malaysia has today would drive the country to that future. “There is a huge base here to build on and also very strong capabilities of engineering, highly educated people and commitment from the government to build the right policies and framework around innovation to drive Malaysia to that future,” she said. (Bernama)

MIDA Welcomes More OEMs, Tier 1 Firms to Aerospace Sector

The Malaysian Investment Development Authority (MIDA) welcomes more original equipment manufacturers (OEMs) and Tier 1 companies to be involved in the aerospace industry. Its Chief Executive Officer, Datuk Azman Mahmud said Malaysia’s aerospace sector has tremendous opportunities and has been identified as a strategic industry under the Malaysian Aerospace Blueprint and 11th Malaysia Plan. “To develop the aerospace industry we need to create a strong ecosystem spearheaded by major aviation companies,” he said. Presently, Malaysia is home to 66 companies involved in maintenance, repair and overhaul (MRO) activities, 33 in aero-manufacturing, 25 in education and training, 11 in systems & integration as well as engineering & design. The industry is projected to contribute revenue of RM20.4 billion for MRO, RM21.2 billion for aero-manufacturing and RM13.6 billion for engineering and design services by 2030, he added. (Bernama)

Fed survey shows signs of inflation, rising wages in US
US price pressures have strengthened and wages are showing some signs of life after an extended period of mysteriously low inflation, according to a Federal Reserve survey released on Wednesday. The Fed’s so-called beige book survey, which gathers reports from businesses across the nation, offers another sign the central bank is likely to raise interest rates at its final meeting of the year next month. Outgoing Fed Chair Janet Yellen said she believes inflation has remained low due to transitory factors, but she acknowledged that something more persistent could be at play. Meanwhile, the US economy posted its fastest growth in three years in the third quarter, indicating a broad-based expansion is gaining momentum, according to official figures released on Wednesday. The revised data surpassed President Donald Trump’s three per cent target for the second time in a row, showing that back-to-back hurricanes in late summer barely left a scratch on the world’s largest economy. (CNA)