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TAPiO Newsletter – June 2019 Issue
Azerbaijan Attaches Great Importance To Close Cooperation With Malaysia
Qaley Allahverdiyev, Azerbaijani Ambassador to Malaysia, highlighted the enormous potential for enhancing bilateral cooperation. In addition, the two countries had close cooperation in the energy sector. For example, the Malaysian oil company Petroliam Nasional Berhad (PETRONAS) has invested more than US$4 billion in Azerbaijan’s economy to date. He stated that the country’s foreign policy priorities also include the elimination of the consequences of military aggression by Armenia and the restoration of Azerbaijan’s sovereignty and territorial integrity within its internationally recognized borders. Azerbaijan has improved its foreign policy and its role in the international relations system has been steadily strengthened. Azerbaijan is the initiator and participant in large-scale projects for regional cooperation, such as the Baku-Tbilisi-Ceyhan oil pipeline, the southern gas corridor, as well as the east-west, north-south and southwest transport corridors.
Japan To Invest Further In Malaysia’s Infrastructure Assets
After JOIN’s first investment with Tasco-Yusen Gold Cold Sdn Bhd (TYGC), it is a kick-start for many others. JOIN is a Japanese company that supports Japanese investments in the global market. The majority shareholder is the Minister of Finance of Japan (87.19%). The Minister of Finance of Malaysia, Lim Guan Eng, and the Japanese Ambassador to Malaysia, Makio Miyagawa, also attended the signing ceremony. “This investment by JOIN is a vote of confidence in the Malaysian economy and TYGC’s expansion potential here” Lee said. As a result, Japan could reinvested in Malaysia.
Johor Is Becoming An Attractive Destination For Multinational Corporations (MNCs)
Johor is on the track of attracting China based companies and multinational corporations to settle their operations to the economic growth corridor. ASEAN countries are aiming to bring more Chinese manufacturers and Multinational Corporations (MNCs) into their country, thus Johor government and Iskandar Regional Development Authority (IRDA) should be more proactive and committed to keep up with the competitors. China is no longer a cheap place for manufacturing activities, MNCs are looking for other destinations to implement their operations. Moreover, Johor’s proximity with Singapore constitutes an added value for MNCs.
Bai Tian, Ambassador of the People’s Republic of China to Malaysia, wrote a letter on Facebook preaching « Friendship forever » between China and Malaysia, reminding the history of the two countries. It took place right after Malaysian Prime minister made a speech prompting all the countries to negotiate which China rather than going to war and announced that Malaysia will keep using Huawei products despite the fact that USA has blacklisted them, which are more advanced technologically than any other brands according to him.
Prime Minister Tun, Dr Mahathir Mohamad, honoured his presence at the edutainment concert “My Voice My Nation Malaysia” with his wife, Tun Dr. Siti Hasmah Haji Mohamad Ali. During this occasion he gave a very beautiful speech in which he addressed important subjects such as leadership, respect for time, education and discipline. He also pays tribute to his wife with whom he has been married for 23 years. He recalls the history of Malaysia and its colonization. Thus, he encourages the younger generation to continue to fight for its freedom and understand the struggle of its country. His speech was much appreciated. Through his great wisdom, he transferred the values of life.
Two More Electric Buses Set To Hit Kuching Streets
The Sarawak government plans to install two electric buses in the city in addition to the one already in use. These electric buses are free of charge and this encourages the government’s initiative to promote a clean mode of transport in order to preserve the environment. The small disadvantage is the battery life, so it also focuses on the development and use of hydrogen buses. Thus, the real project of hydrogen transport is to implement a green transportation system.
A group of students from the Malacca campus of Multimedia University, known as MMU Grune Welt, managed to maintain a vehicle’s performance while saving both energy and the environment with its prototype battery-powered car. With a prototype that validated a race with a record of 278 km/kWh without any carbon emissions, the cleanest and most economical resource ever known. They have won many awards for their design. It is all thanks to a 100% dedicated group that they were able to get an energy-efficient vehicle.
Datuk Zainal Amanshah, CEO of InvestKL, is leaving his position in July to pursue opportunities in the private sector after 8 years being in the office. Muhammad Azmi Zulkifli will continue as Managing Director of InvestKL as of 1st of July. During Zainal’s tenure, InvestKL has achieved many positive things such as, the success of 80 multinational companies as of 31st of May, generating a total of committed and approved investments of RM 12 billion in Greater Kuala Lumpur, the creation of 12,000 highly skilled regional jobs for Malaysians and the victory of four prizes, awarded by Site Selection magazine for 2015, 2017 and 2019, as well as the MNBC Award 2017 of the Malaysia Norway Business Council. According to Zainal, Malaysia is in a strong position thanks to its business-friendly environment and resources to attract high-value, highly skilled and innovation-oriented investments.
The United Kingdom Strengthens Their Partnership With Malaysia
The United Kingdom (UK) is the 8th largest foreign investor in Malaysia. The UK accounted for RM22.3 billion of cumulative investment last year. The trade between 2 countries can and is expected to grow further, given the situation between the United States of America (USA) and China. Moreover, as Malaysia is redirecting its supply chain organization and policy in the Pacific and Atlantic, it could be a promising opportunity. The United Kingdom and Malaysia could focus on and tackle the 4.0 industry. This would permit the two countries to brace themselves for the next upcoming global growth upswing. To highlight the ongoing trade between them, the total service trade was RM18.6 billion, thus exceeding last year’s results.
Malaysia A Net Exporter Of Refined Fuel For The First Time Since Year 2008
In the context of Petronas and Saudi Aramco joint venture, the Refinery And Petrochemical Integrated Development Project will begin its commercial operations in the fourth quarter of this year. It will make Malaysia a net exporter of refined fuel for the first time since year 2008 and it will permit both countries and companies to benefit from technology and knowledge transfer. Malaysia’s oil and gas sector is moving up the value chain in order to protect the country from volatility assessed in petroleum exporting countries. Moreover, Malaysia turned out to be the preferred destination for companies seeking stability and willing to avoid disruptions due to US-China trade war. Consequently, modifications in Malaysia’s global chain and competitiveness triggered a 172% rise in Foreign Direct Investment.
Buy Made-In Malaysia To Support National Industries
The Federation of Malaysian Manufacturers (FMM) has called for early ad fast implementation of the free trade agreements because of the ongoing US-China trade conflict and the uncertainties in the global environment. “Love Malaysia, Buy Made-In Malaysia campaign is one of the key success factors in Malaysian’s new manufacturing era. This campaign should be launched expeditiously and monitored closely. It should also be promoted religiously in domestic and overseas markets. The government made an announcement in budget 2019 that it will allocate RM20 million to initiate a “Buy Malaysian First” campaign to support local products and services. The campaign will start by providing a platform for local producers, manufacturers and service providers to market their services and products. Buy local campaign is one of the key success factors that the new manufacturing era needs. FMM members are strongly urged to optimize the use of the appropriate government assistance programmes to implement firm-level initiatives, particularly in adopting Industry 4.0 technologies. FMM’s vision is to make Malaysian industries competitive on the international scene and they will continue to work harder towards becoming government’s partner of choice.