News Highlights: 12 February 2018

  1. SMEs Record RM14 million In Potential Sales At Singapore Airshow
  2. Malaysia’s Aerospace Industry to Continue Healthy Growth This Year
  3. China to Boost Job Creation Efforts and Promote Entrepreneurship
  4. President Trump to unveil $1.5 trillion infrastructure plan
  5. Enthusiasm for STEM Sparks Early Amongst Girls in Asia Pacific

SMEs Record RM14 million In Potential Sales At Singapore Airshow
The 18 Malaysian small and medium enterprises (SMEs) which participated in the Singapore Airshow 2018 last week recorded potential sales of RM14 million. The Ministry of International Trade and Industry (MITI) said, the SMEs were part of SME Corp Malaysia’s EPP8: Developing SMEs in the Global Aerospace Manufacturing Industry programme. “These companies were identified for further development as part of the government’s initiative to expand the local aerospace supply chain. Throughout the event, the SMEs participated in business networking meetings with major industry players,” it said. The week long Airshow which ended yesterday, brought together global aerospace players to network, exhibit and converge new product ideas, transfer of knowledge and training capabilities, among others. A total of 2 Memorandum of Agreement (MoA) and 2 Memorandum of Understanding (MoU) were exchanged between Malaysia Airport Holdings Berhad’s (MAHB) and several of its partners.

Malaysia’s Aerospace Industry to Continue Healthy Growth This Year
Malaysia’s aerospace industry is expected to continue its healthy growth momentum this year, driven by the record growth in the past three years and backlog of orders for aircraft in the Asia Pacific region. Second International Trade and Industry Minister Datuk Seri Ong Ka Chuan said that the industry was expected to grow by 5.0 per cent in terms of export to RM9 billion this year against RM8.49 billion recorded in 2017. “The Malaysian aerospace industry is seen by the government as a strategic industry, which has a vast potential for the country’s industrialisation and technological development programmes. “The Asia Pacific region is expected to receive 16,000 new aircraft by 2035 and during this period, the region would account for 4,000 or 36 per cent of global deliveries of passengers and freight planes,” he told reporters in Kuala Lumpur.

China to Boost Job Creation Efforts and Promote Entrepreneurship
More than 8 million university graduates in China are expected to join the labour force, with millions more people already unemployed. China will boost its job creation effort and promote entrepreneurship this year, a spokeswoman for the top state planner said. Meng Wei, from the National and Development Reform Commission, said China needed to create jobs for 9.7 million people registered as unemployed and 8.2 million new college graduates, as well as workers affected by industrial capacity cuts. China’s urban-registered unemployment rate fell to 3.9 per cent last year and has remained generally stable despite slowing economic growth and the government forging ahead with plans to cut industrial capacity. “We will implement an employment-first strategy and more proactive employment policies … and vigorously promote employment and entrepreneurship,” Meng said, adding that protecting jobs was fundamental to China’s stable growth policy.

President Trump to unveil $1.5 trillion infrastructure plan
US President Donald Trump’s administration will sketch out more details of its plan to invest in America’s infrastructure later today, hoping it can leverage up to $1.5 trillion for the cause. Senior White House officials said the president’s budget will include $200 billion earmarked for projects to fix roads, bridges and other crucial infrastructure. Under the proposals, states and private investors would put up the remaining $1.3 trillion. President Trump had made fixing US infrastructure a core campaign pledge and already announced the $1.5 trillion plan in his State of the Union address last month. The administration will put more flesh on the bones, including ideas for cutting the length of the permitting process to two years.

Enthusiasm for Science, Technology, Engineering and Mathematics Sparks Early Amongst Girls in Asia Pacific
Ahead of the International Day of Women and Girls in Science, Mastercard research has found an encouraging number of girls and young women have a passion for STEM. The third edition of the Mastercard STEM research surveyed more than 2,000 girls between the ages of 12-25 in the Asia Pacific region, exploring the influences that encourage or dissuade girls and young women from pursing education and career paths in Science, Technology, Engineering and Mathematics (STEM), and found over two thirds of 12 to 14-year-old girls find STEM subjects interesting (68%). When 12 to 14-year-old girls were asked what job they wanted in the future, 22% said doctors, 20% said teachers and 18% said engineers. Ruth Riviere, Mastercard Country Manager for New Zealand and the Pacific Islands says, ‘“The results of this latest study are encouraging but reinforce the need to inspire the next generation of female scientists, technologists and designers who clearly have a passion for these traditionally male dominated areas. The study found 15 is the critical age when girls decided to pursue STEM or not. Although half of 15-19 year olds considered STEM related subjects when they were young, half changed their minds, and by 17-19 only 12% continued studying STEM subjects.

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