FDI Inflows Into ASEAN To Hit US$100 billion
Malaysia’s International Trade and Industry Minister, Datuk Seri Mustapa Mohd said foreign direct investment (FDI) inflows into ASEAN have been steadily increasing this year, and are expected to reach over US$100 billion from the current US$96.7 billion. He said this would continue to benefit Malaysian companies in terms of trade and investments, sharing of technology and job creation. “It’s been a great and successful journey for ASEAN, and everyone is proud to be citizens of ASEAN, including Malaysia.”
Malaysia Committed Helping Finalise RCEP By Year-end
Meanwhile, Datuk Seri Mustapa said Malaysia is committed to helping finalise the Regional Comprehensive Economic Partnership (RCEP) by year-end, together with 15 other nations, with the aim of increasing economic trade in Asia. He said efforts towards this end are being actively carried out, including the meeting in Hanoi, Vietnam in May which was attended by ministers and deputy ministers from ASEAN, Australia, New Zealand, China, Japan, South Korea and India. “The negotiations began in 2013, and the delay in finalising the agreement was because it involves 16 countries, but all are committed to finalising the agreement. “All 16 nations are in the process of working out the details with regards to the terms and conditions as discussed during the latest ministerial level meeting which prioritised implementation by 2017,” he said.
SIRIM To Complete Technology Audit On 170 Firms This Year
Research and technology organisation, SIRIM Bhd, expects to complete technology audit on 170 companies from various sectors through the SIRIM-Fraunhoufer Programme this year. The programme adopts and adapts the principles of Germany’s Fraunhoufer model on applied research for the development of small and medium enterprises (SMEs). Science, Technology and Innovation Minister, Datuk Seri Panglima Wilfred Madius Tangau, said to-date 80 firms from the engineering, machinery and electronics sectors had completed the technology audit. “The outcome of the audit will help SMEs set up action plans to enhance their productivity, improve technology management capability and move up the value chain,” he said.
M’sia To Benefit Greatly From ASEAN’s Infrastructure-backed Growth- HSBC
Malaysia is expected to reap immense benefits from ASEAN’s infrastructure -backed growth, says HSBC Bank Malaysia Bhd. In a statement today, Chief Executive Officer Mukhtar Hussain said Malaysia’s big transport opportunity is to boost regional and local connectivity, while improving efficiency in the economy, creating an integrated transport system, as well as, upgrading logistics capacity to enhance the country’s status as a regional hub for international trade. “This is a key focus area for the country under the government’s 11th Malaysia Plan,” he added. Mukhtar said planned infrastructure spending in the 2016-2020 period is US$85 billion, up from the US$50 billion spent from 2011-2015.
Women Account For 17.9 Percent on Boards of PLCs
Women account for nearly 18 percent on the boards of directors in the top 100 public- listed companies (PLC) on Bursa Malaysia as of June 30 this year. Women, Family and Community Development Minister, Datuk Seri Rohani Abdul Karim, said although this was close to the government’s 2017 target to increase women’s participation as decision-makers in PLCs to 18 per cent, it was still low compared to the initial target of 30 per cent set in 2011. Datuk Seri Rohani said the ministry would continue its efforts to increase awareness among industries and corporations to ensure that PLCs appoint more women as members of their boards by 2020 according to the government’s target. “There are 17 companies among the top 100 PLCs that do not have any women on their boards,” she said.