RM4.6b potential exports, invesments recorded from France trip
In a statement today, the Investment, Trade, and Industry Ministry (Miti) said Anwar met 40 representatives from France's industrial sector.
It added that several companies expressed intention to...
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Malay Mail
2 hours ago
- Malay Mail
South Korea sends top officials to US in final push to avert 25pc tariff threat as Aug 1 deadline approaches
SEOUL, July 26 — South Korea's deputy prime minister will meet with US Treasury Secretary Scott Bessent next week, ahead of Washington's deadline to reach a trade deal, Seoul's presidential office said today. US President Donald Trump's administration has threatened South Korea with a 25 per cent tariff if a trade deal is not reached by August 1. 'Deputy Prime Minister Koo Yun-cheol and Foreign Minister Cho Hyun are scheduled to meet US Treasury Secretary Scott Bessent and Secretary of State Marco Rubio next week,' the presidential office said in a statement. The statement came during a meeting at the presidential office where Industry Minister Kim Jung-kwan reported on the outcome of his talks with US Commerce Secretary Howard Lutnick on Thursday. 'The government has pledged to devote its full efforts to concluding trade negotiations with Washington before the August 1 deadline,' the statement said. The presidential office added that Seoul confirmed Washington's 'strong interest in the shipbuilding sector' and agreed to work towards mutual cooperation in the industry. The announcement of the meeting comes after last week's scheduled talks were cancelled due to Bessent's 'urgent schedule'. South Korea's shipbuilding industry has become a useful bargaining chip for the country as Trump has shown significant interest in the sector. South Korea ranks as the world's second-largest shipbuilding nation, trailing only behind China. Amid rising tensions in the Taiwan Strait, the United States is turning to overseas shipyards to strengthen its Asia-Pacific operations, casting South Korea as a key defence partner. In 2024, Hanwha Ocean, one of South Korea's largest shipbuilders, became the first non-US company authorised to conduct dry-dock maintenance on a US Navy vessel. — AFP
BusinessToday
5 hours ago
- BusinessToday
Two Foreign Investment Projects Underway After Spate Of Trade Missions
Two foreign investment projects announced during the government's trade and investment missions abroad have now begun, refuting claims Prime Minister Datuk Seri Anwar Ibrahim's official visits abroad are fruitless. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said Gul Technologies, a company announced during the trade and investment mission to China last year, is currently building its factory in Kulim, Kedah, with an investment of RM350 million for Phase 1. He said the project is set to create 350 jobs for locals. 'What is interesting is that this company is collaborating with Kulim Advanced Technologies Sdn Bhd, a subsidiary of Kulim Hi-Tech Park Corporation Sdn Bhd, which is responsible for training young talents. 'Through this collaboration, the company will employ 100 local technicians who will be sent to China for training,' said Tengku Zafrul in a post on X today. Meanwhile, another company, EDA, which was announced during the trade and investment mission to Italy last year, has started an investment worth RM100 million in Jasin, Melaka. 'EDA also has 150 vendors among local companies. This means EDA is not only creating jobs at their facilities, but also supporting Malaysian workers in 150 local companies,' he said. These two projects are among the 2,198 manufacturing projects that have been approved throughout the Madani Government's administration from 2023 to the first quarter of this year. The minister said that of that total, 1,849 projects, or 84.2 per cent, have been implemented as of July. Related
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![[UPDATED] Anwar rejects 'gimmick' claims, says thousands of projects rolled out](/_next/image?url=https%3A%2F%2Fassets.nst.com.my%2Fassets%2FNST-Logo%402x.png%3Fid%3Db37a17055cb1ffea01f5&w=48&q=75){kind=small}
New Straits Times
5 hours ago
- New Straits Times
[UPDATED] Anwar rejects 'gimmick' claims, says thousands of projects rolled out
PUTRAJAYA: A total of 86.4 per cent of more than 3,000 projects approved between 2022 and now have been successfully implemented, refuting allegations that the government's investment initiatives are mere gimmicks. Prime Minister Datuk Seri Anwar Ibrahim said the implementation rate proves the government's commitment to ensuring that every announced investment translates into tangible outcomes on the ground. "Of the 3,494 projects approved since 2022, 3,095 have commenced operations, achieving an implementation rate of 86.4 per cent. "Some claim that billions in investments show no results. This is the proof, the projects are up and running. "For 2023 alone, the implementation rate was 90.6 per cent, while in 2024 it was 79.2 per cent. For the first quarter of 2025, 49.8 per cent of new projects are in progress," he said during the Prime Minister's Department monthly assembly. Anwar said the approved investments are largely concentrated in the manufacturing sector, particularly involving digital and green technologies, which are among the key drivers of future economic growth. "I have informed the Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz, to continue detailing the locations and implementation status of these projects, whether in Kulim Hi-Tech, Johor, Sarawak, Sabah, the Klang Valley, or Kuala Lumpur. "These are not empty figures. They involve actual operations, real factories, and real job opportunities," he said. In a related development, Anwar said the Invest Malaysia Facilitation Centre (IMFC), established under Miti, has so far received 28,166 investment project applications, with a resolution rate of 99.9 per cent. "This is something I have announced, and the machinery behind it is the civil service. When implementation is swift and effective, we must acknowledge it. "If there are one or two complaints, that is normal, but do not paint a picture as if nothing at all is being done," he said.
