Clear, consistent policies key to attracting FDI, says Fahmi
GENEVA : Clear and consistent government policies, backed by political stability, are key factors in attracting foreign investors to Malaysia, said communications minister Fahmi Fadzil.
Speaking at a gathering with the Malaysian diaspora here yesterday, Fahmi cited the Madani Economy framework, the 12th Malaysia Plan, the New Industrial Master Plan 2030, and the National Energy Transition Roadmap as examples of coherent and investor-friendly policies.
'These policies provide clarity and assurance to investors. They trust that such policies won't be changed arbitrarily,' he said.
Fahmi also pointed to recent data from the statistics department and the investment, trade and industry ministry as evidence that Malaysia remains a top destination for foreign direct investment.
According to the Malaysian Investment Development Authority, approved investments for the first quarter of the year totalled RM89.8 billion — a 3.7% year-on-year increase — despite ongoing global economic challenges.
The gathering, held at Rumah Malaysia in Geneva, was attended by around 50 Malaysians, including students, professionals, and staff from the permanent mission of Malaysia to the United Nations.
Also present was Malaysia's permanent representative to the UN in Geneva, Nadzirah Osman.
During the event, Fahmi also highlighted Malaysia's achievements in the communications sector.
'Malaysia ranks among the top 10 countries globally for the most affordable internet, and we have the second fastest internet speed in the Asia-Pacific region after South Korea,' he said.
Nadzirah welcomed the session, saying it allowed Malaysians in Geneva to share their views with Fahmi and gain first-hand insights on current developments in Malaysia.
Fahmi is currently leading the Malaysian delegation to the World Summit on the Information Society+20 High-Level Event, which runs from July 7 to July 11.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malay Mail
an hour ago
- Malay Mail
Malaysia rooting for 30pc locally grown shallots by 2030 — but here's why it's a tough row to hoe
KUALA LUMPUR, July 8 — A generous sprinkle of bawang goreng or fried shallots is undoubtedly the best way to top off most local meals — be it nasi goreng, Maggi goreng or even a bowl of porridge. Perhaps the fact that shallots are a staple in almost all our meals has made us assume that the humble bulbs can thrive anywhere, even in our backyard. Well, we couldn't — up until now. Malaysia has been importing shallots, big onions and garlic for decades because it was the cheaper option and there was no suitable variety that could adapt to our local climate. But after a breakthrough discovery by the Malaysian Agricultural Research and Development Institute (Mardi) in 2023, Malaysia is now aiming to produce 30 per cent of its shallots locally by 2030. Wan Rozita Wan Engah, a senior research officer at the Malaysian Agricultural Research and Development Institute (MARDI), led the initiative that discovered three suitable shallot varieties for planting in Malaysia. — Picture courtesy of Mardi Why cultivate now? Currently, Malaysia fully relies on imported onions and garlic, with China, India, Pakistan, the Netherlands and Thailand as its major suppliers. For instance, Malaysia imported 687,000 metric tonnes of onions worth RM1.58 billion in 2022. Of this, shallots comprised 38,000 metric tonnes worth RM2.5 million. Wan Rozita Wan Engah, a senior research officer who led Mardi's shallot cultivation initiative, said the institute launched a study on the viability of producing shallots locally in the 1980s. However, the plan was later shelved as shallot cultivation was an expensive endeavour, and there was no suitable heat-tolerant variety that could adapt to Malaysian weather back then. Wan Rozita said shallots only make up less than 10 per cent of Malaysia's total onion imports. However, a massive flood in India triggered a severe shortage of shallots in 2019, causing prices to jump from RM4 per kg to RM18 per kg. The following year, movement restrictions imposed due to the Covid-19 pandemic in 2020 also disrupted supply chains. The supply chain shock led Mardi to resume its search for a suitable variety of shallot to cultivate locally. While the cost of producing shallots locally remains a key challenge, Wan Rozita said food security concerns necessitate Malaysia to venture into shallot farming. Unlike shallots, garlic thrives best in countries with four seasons and requires a longer harvest period, making it less ideal for cultivation in Malaysia. — Picture by Firdaus Latif So, what's the breakthrough? Wan Rozita said shallots require year-round sun and thrive in relatively warm weather, between 25 and 32 degrees Celsius. Shallots must also be grown on loose and well-drained soil, as water retention could cause the bulbs to rot. 'The soil has to be moist but not too wet. So, the best time to plant shallots in Malaysia is between February and August because the rainy season starts after this period. 'Since each season takes about 65 days, we can carry out two planting seasons every year — from February to April and then from June to August,' Wan Rozita said. From 2021 to 2023, Wan Rozita and her team collected 15 varieties of shallots from various countries — including India, China, Pakistan, Indonesia and Thailand — and planted them in Malaysia as part of an adaptation study. After a rigorous series of selections, they shortlisted three varieties that could thrive in Malaysia: BAW-1, BAW-2 and BAW-3. Currently, the BAW-1 and BAW-3 varieties are cultivated via bulb, while BAW-2 is cultivated using seeds. Last year, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu announced the government's ambition to locally produce 30 per cent of shallots by 2030 in two phases. The first phase, or the pre-commercial phase, will run from 2024 to 2025. During this phase, Mardi will distribute 70 tonnes of shallot seeds and 230kg of seed grains. An area of 100ha will also be designated for shallot cultivation. The second phase, or the commercialisation phase, will run from 2026 to 2030. A total of 1,347ha of land will be earmarked for shallot cultivation during this period to meet the 30 per cent target. But why only shallots — and what's next? Wan Rozita said tubers like big onions and garlic thrive best in countries with four seasons and require a long harvest period, ranging between eight to 10 months. 'By contrast, shallots have a shorter harvest period and farmers can see returns faster,' she said. Mardi is also currently carrying out a cross-breeding exercise to develop a new variety of shallot for Malaysia in Cameron Highlands. If successful, Malaysia's shallot industry will become self-sustaining — without having to rely on foreign varieties for farming.
Malay Mail
an hour ago
- Malay Mail
How much onions do Malaysians eat and why is it biting into our national coffers?
KUALA LUMPUR, July 8 — Hardly any Malaysian cuisine can be cooked without onions, making the tubers one of the most expensive food items the country pays for. Federal Agricultural Marketing Authority (Fama) chairman Aminuddin Zulkipli said Malaysians consume close to 750,000 tonnes of onions a year, citing the recent Kajian Kepenggunaan Agro-Makanan Segar study. To put it visually, that's as heavy as seven fully loaded aircraft carriers! Last year, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu told the Dewan Rakyat that Malaysia imported 687,000 metric tonnes of onions in 2022 — including 38,000 tonnes of shallots. Going by that figure, Mohamad Sabu said the average Malaysian eats about 1.2kg of shallots alone. 'The consumption of onions in Malaysia is growing rapidly especially after the Covid-19 pandemic. 'However, we expect the demand to grow steadily with no drastic spikes,' he told Malay Mail, when interviewed recently. Malaysia's onion imports — comprising big onions, garlic and shallots — crossed RM1 billion in 2023 and came close to RM1.5 billion in 2024. — Picture by Firdaus Latif So, how is our growing appetite for onions weighing on the national coffers? Malaysia's onion imports crossed RM1 billion in 2023 and came close to RM1.5 billion last year, according to figures published by the Department of Statistics Malaysia (DoSM). The imports comprise large onions, shallots and garlic. Aminuddin said the cost of onion imports jumped by 67 per cent in the last five years — from RM887.3 million for 479,746 metric tonnes of onions in 2020 to RM1,482.9 million in 2024. The cost of Fama's direct purchase of onions has also more than doubled between 2021 and 2024, he said. Locally-grown shallots harvested from a farm in Sepang in June 2025 on display during a promotional event at the Federal Agricultural Marketing Authority (Fama) headquarters in Selayang. — Picture by Raymond Manuel Where do our onions come from? China is the largest supplier of onions to Malaysia, accounting for 46.3 per cent of all onions imported by the country. India and Pakistan control around one-third of onions imported by Malaysia, contributing 19.2 per cent and 15.4 per cent respectively. The remaining sources include the Netherlands (five per cent), Myanmar (four per cent), Thailand (between four to five per cent) and several other countries. Why cultivating shallots locally is crucial Earlier this year, Mohamad Sabu said Malaysia could offset RM300 million — nearly a third of its overall RM1 billion onion import bill — if the country can produce 30 per cent of shallots locally. Echoing his optimism, Aminuddin said Fama will play a key role in the commercialisation phase of the shallot cultivation initiative, especially to reduce the production costs of shallots. 'Malaysia did not produce shallots locally in the past because importing was cheaper, but supply chain disruptions after the Covid-19 pandemic has made us rethink our approach. 'From Fama's perspective, we cannot just rely on conventional agriculture if we want to reduce the production cost of shallots. 'We should also consider alternative methods like organic regenerative agriculture so that we don't have to depend on pesticides too much. 'The prices of pesticides keep soaring every year, and by reducing the use of pesticides, we can surely bring down the production cost,' he said.
Malay Mail
9 hours ago
- Malay Mail
DFI Retail Group to Announce 2025 Half-year Financial Results and Host Analyst Presentation Live Webcast
HONG KONG SAR - Media OutReach Newswire - 7 July 2025 - DFI Retail Group Holdings Limited will announce its 2025 half-year Results after market close on 22 July 2025, followed by an analyst presentation live webcast on 23 July 2025. Date: Wednesday, 23 July 2025 Time: 09:30 - 10:30 am (Hong Kong Time) Presented by: Mr. Scott Price, Group Chief Executive and Mr. Tom van der Lee, Group Chief Financial Officer Tuesday, 18 July 2025. Kindly RSVP by completing the form on or before To avoid delays, we encourage participants to log in ten minutes ahead of the scheduled start time. A replay of the presentation will be available via webcast on DFI Retail Group's website Should you have any queries please email us at [email protected] Hashtag: #DFIRetailGroup #Mannings #Guardian #7-Eleven #Wellcome #MarketPlace #ColdStorage #Giant #IKEA #yuu The issuer is solely responsible for the content of this announcement. DFI Retail Group DFI Retail Group (the 'Group') is a leading Asian retailer, driven by its purpose to "Sustainably Serve Asia for Generations with Everyday Moments". The Group is dedicated to delivering quality, value and exceptional service to Asian consumers through a compelling retail experience, supported by an extensive store network and highly efficient supply chains. The Group, including associates and joint ventures, operates a portfolio of well-known brands across five key divisions: health and beauty, convenience, food, home furnishings, and restaurants.
