TN50 prepares people for Fourth Industrial Revolution
Prime Minister Datuk Seri Najib Razak said the National Transformation 2050, or TN50 roadmap would prepare the people to face the Fourth Industrial Revolution. He said the Fourth Industrial Revolution has threatened the age-old business models today, especially in a cashless society. Citing China as an example, he said one could use a smartphone to buy everything either at the bazaars or online which was more convenient. He made the comments at the TN50 Roundtable Dialogue with about 20 Malaysian scientists in Kuala Lumpur.
Kuala Lumpur is “City to Watch” in Women Entrepreneur Cities Ranking
Kuala Lumpur is ranked as a “City to Watch” in the APJ City Rankings for Women Entrepreneurs. Dell announced the findings of the 2017 Women Entrepreneur Cities (WE Cities) Index at the annual Dell Women Entrepreneur Network Summit, revealing how 50 top global cities are fostering high-potential women entrepreneurs (HPWE). The study ranks cities based on the impact of local policies, programs and characteristics in addition to national laws and customs.
Malaysia to host World Tunnel Congress in 2020
Malaysia has won the bid to host the World Tunnel Congress (WTC) in May 2020 at the Kuala Lumpur Convention Centre. The announcement was made at the recent International Tunnelling and Underground Space Association (ITA) general assembly in Norway. Besides WTC 2020, Malaysia will also host the ITA general assembly during the congress. The WTC 2020, themed “Innovation and Sustainable Underground Serving Global Connectivity”, is set to draw more than 1,200 attendees from the global tunnelling and underground construction industry. The event is expected to deliver RM17.2 million in estimated economic impact to the country.
New GST Initiative Expected to Attract More Investments and Increase Job Opportunities
The introduction of the zero-rated Goods and Services Tax (GST) would help attract more investments and increase job opportunities, said tax expert Senthuran Elalingam. Senthuran, who is Deloitte Malaysia Indirect Tax Partner, said the move would also reduce the costs of operations, especially for foreign multinationals. “Malaysia is an export-driven economy that focuses on manufacturing, and with the GST being zero-rated, this will help manufacturers reduce their costs which will benefit the people in the long run.
Cooperatives Target Young People in High-value Business
The cooperative movement is targetting more young people involved in high-value businesses that require them to be innovative, with advance knowledge and able to compete globally. Cooperatives Commission of Malaysia (CCM) executive chairman Datuk Dr Noor Zari Hamat said there were various fields of entrepreneurship that the young people could venture into through the cooperative movement as a platform such as automotive, restaurant and beauty salons. He said as of December last year, there were 213 youth cooperatives registered under the commission, involving membership of 24,576 people and with a turnover totalling RM20.67 million.
TPPA Negotiations Likely to Conclude in November
Negotiations on the Trans-Pacific Partnership Agreement (TPPA) are still ongoing and likely to see a conclusion in November this year during the Asia- Pacific Economic Cooperation (APEC) meeting in Manila. Minister of International Trade and Industry, Datuk Seri Mustapa Mohamed (pic) said Malaysia remained open to proposals raised by other participating countries on the TPPA. The trade pact was painfully negotiated over more than five years but is now uncertain following US President Donald Trump’s decision to withdraw from it. The 11 countries left, including Malaysia, are still deciding the pact’s future.
Malaysian Labour Force Up 0.1% In May
The Malaysian labour force increased 0.1 per cent in May 2017 to 14.96 million compared to 14.94 million in the previous month. The Labour Force Statistics report released by the Department of Statistics showed the labour force participation rate in May 2017 inched up 0.1 per cent to 67.8 per cent compared with April. It also added 0.1 per cent on year-on-year comparison in May.