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The Star
4 minutes ago
- Business
- The Star
Malaysia's GDP projected to grow 4.5-5.5% from 2026 to 2030, driven by domestic demand
KUALA LUMPUR: The country's gross domestic product (GDP) growth is targeted at between 4.5 per cent and 5.5 per cent per annum during the 13th Malaysia Plan (13MP) period from 2026 and 2030, driven primarily by domestic demand, particularly private consumption and investment. According to the 13MP main document released by the Ministry of Economy today, GDP growth will be underpinned by domestic demand, particularly private consumption and investment, and supported by a positive external sector. The report, themed "Reshaping Development," noted that the services, manufacturing, and construction sectors will remain the key sources of growth, spurred by the transition to a value-creation-based economy. Growth will also be driven by the implementation of key policies and strategies, especially the New Industrial Master Plan 2030 (NIMP 2030), the National Energy Transition Roadmap (NETR), and the National Semiconductor Strategy (NSS), all introduced in the first two years of the MADANI Economy framework. "Malaysia's economic outlook will be influenced by global environmental developments as well as the implementation of socio-economic policies and strategies during the 13MP," the document stated. It added that the uncertainty of the United States' trade policies and other retaliatory economic measures is expected to impact Malaysia during the first half of the 13MP. The document stated that the projected GDP growth will enable Malaysia to achieve a per capita gross national income (GNI) target of RM77,200 by 2030, thereby surpassing the high-income threshold. A total of 10 macroeconomic targets have been set to reshape development by driving economic growth, enhancing people's well-being, and strengthening good governance during the 13MP. These targets include an average annual real private investment growth of six per cent, a fiscal deficit of below three per cent of GDP by 2030, an average annual gross export growth of 5.8 per cent, and a target for employee compensation to reach 40 per cent of GDP. Other targets include an average annual real public investment growth of 3.6 per cent, an average inflation rate of between two and three per cent, a current account surplus equivalent to 2.2 per cent of GNI, and an annual growth rate of 1.6 per cent for the Malaysian Well-being Index (MyWI). The document also states that these measures are expected to boost private investment growth by six per cent annually, with an average value of RM417.9 billion per year, making it the main driver of investment during the 13MP. Public investment, comprising allocations from the federal government, state governments, local authorities, statutory bodies, and non-financial public corporations (NFPCs), is projected to grow by 3.6 per cent annually, averaging RM112.9 billion per year during the period. A total of RM430 billion will be allocated to finance the federal government's development programmes and projects under the 13MP. These projects include infrastructure and infostructure developments, public transportation, the construction of schools, hospitals, and affordable housing, as well as flood mitigation and capacity-building programmes. National development investments will also be supported by projects undertaken by government-linked companies, including through the Government-Linked Companies Activation and Reform Program (GEAR-uP), with an allocation of RM120 billion. Additionally, the implementation of development projects through public-private partnerships (PPPs) will be enhanced, with private sector participation expected to contribute an estimated RM61 billion during the 13MP period. - Bernama
Reuters
6 hours ago
- Business
- Reuters
Japan June retail sales rise 2.0% year/year
TOKYO, July 31 (Reuters) - Japanese retail sales rose 2.0% in June from a year earlier, against the median market forecast for a 1.8% rise, government data showed on Thursday. To view full tables, go to the website of the Ministry of Economy, Trade and Industry at: opens new tab
Borneo Post
18 hours ago
- Business
- Borneo Post
Reconstruction of Tuaran–Sungai Damit Bridge to begin in September
Construction of the Tuaran–Sungai Damit Bridge to begin in September. KOTA KINABALU (July 30): The long-awaited reconstruction of the Tuaran–Sungai Damit Bridge in Sabah is set to commence in early September 2025, following its approval under Rolling Plan 5 of the 12th Malaysia Plan (RMKe-12). In a written reply to Tuaran Member of Parliament Datuk Seri Panglima Madius Tangau during the Dewan Rakyat sitting on Tuesday, the Ministry of Economy confirmed that the RM30 million project will be managed by the Sabah Economic Development and Investment Authority (SEDIA), with the Sabah Public Works Department (JKR) serving as the implementing agency. 'The project is currently in the final stages of contractor appointment, expected to be finalised by August 2025,' the ministry stated. 'Construction will take 18 months, with completion expected by March 2027.' Madius had requested an update on the bridge project's status, including its projected start and completion timelines. The ministry noted that the bridge project was initially approved on 24 March 2017 under Rolling Plan 2 of the 11th Malaysia Plan (RMKe-11). However, studies later revealed that the original structure was unsafe, leading to a plan for demolition and reconstruction. In September 2022, the Task Force Damit Committee recommended building a new bridge at the same site, citing value for money, structural integrity, and user safety. The original bridge's construction began on 20 April 2018 and was slated for completion by 19 October 2019, but the structure is now fully closed to all vehicles due to safety concerns.
Saba Yemen
a day ago
- Business
- Saba Yemen
Ministry of Economy hands over Certified Public Accountant (CPA) license certificates to 61 accountants after taking oath
[Wed, 30 Jul 2025 08:44:55 +0300] Sana'a (Saba) – The Ministry of Economy, Industry, and Investment organized an oath-taking ceremony for the May 2025 class of certified public accountants, the ceremony also handed over the CPA license certificates to 61 accountants. At the event, the Minister of Economy, Industry, and Investment, Eng. Maeen Al-Mahaqri, congratulated the graduating accountants on their CPA licenses, wishing them success in their professional lives. Whatsapp Telegram Email Print
Time Business News
a day ago
- Business
- Time Business News
Trademarks and Their Protection in the Middle East
Every year, trademarks are immensely valuable to companies all around the globe. To put it bluntly, they do more than identify the source of goods and services; they also convey an indication of distinctiveness, reputation, quality and brand. In the Middle East, trademark protection is developing from international trade, trade initiatives and growing operational creativity in the region. If you are at point zero for your new business or you are a seasoned brand, you must speak with a trademark attorney in Jordan or the region in order to properly protect your intellectual property. A trademark can refer to legal protection over words, symbols, logos, phrases, or combinations of these that identify and distinguish goods or services of one entity from all others. The trademark law in the Middle East differs from country to country, but the sacred covenant of trademark law is relatively similar for the most part in the Middle East, with most regional countries adhering to international treaties or agreements, including the Paris Convention and the TRIPS Agreement. Each country in the region – Jordan, Saudi Arabia, UAE and Egypt – has its own national trademark laws – registration, enforcement, and litigation. However, because of economic integration, regional and overseas influences, some of these laws have commonalities which assist – fulfilling cross-border business. It is essential to find a legitimate trademark attorney in Jordan if you are doing business in Jordan. Jordan's legal system is comparatively developed regarding intellectual property rights, and the Ministry of Industry, Trade, and Supply governs the registration and enforcement of trademarks. A trademark lawyer in Jordan can help you with: Conducting trademark searches to confirm that your brand name, or logo, isn't confusingly similar to existing trademarks. Filing a trademark application. Responding to an objection or opposition from a third party. Acting on your behalf in enforcement or litigious action against infringers. Renewing your trademark so that you are continuing to be protected. A lawyer local to Jordan, with knowledge of the subtleties within the Jordanian trademark system can facilitate a trademark application while making sure to protect your rights within Jordan and possibly in regional markets. The Middle East is a diverse region with a mixture of legal systems, from civil law to Islamic law systems. Regardless of these variations, some governments have developed strong intellectual property systems which allow for strong trademark protection. For example: UAE: The UAE has a formal and tangible registration system where trademark registration is executed and issued by the Ministry of Economy. The UAE has a formal and tangible registration system where trademark registration is executed and issued by the Ministry of Economy. Saudi Arabia: Saudi Arabia has trademark law that is overseen by the Saudi Authority for Intellectual Property (SAIP). Enforcement has significantly improved in this country, resulting in lasting enforcement and many raids on infringing businesses. Saudi Arabia has trademark law that is overseen by the Saudi Authority for Intellectual Property (SAIP). Enforcement has significantly improved in this country, resulting in lasting enforcement and many raids on infringing businesses. Egypt: Law No. 82 of 2002 formally established the Egyptian Trademark Office as a governmental agency for the purposes of trademark registration. Law No. 82 of 2002 formally established the Egyptian Trademark Office as a governmental agency for the purposes of trademark registration. Qatar and Oman: They have a working trademark registration system and are also signatories to international intellectual property rights. Selecting the best trademark lawyer in Jordan involves more than just credentials. Look for someone who has: When registering a trademark in Jordan, the Ministry of Industry and Trade – Trademark Department requires the applicant to publish an announcement regarding their trademark in the Official Gazette and daily newspapers. This is to allow the original trademark owner to object if the announcement includes a copied or similar trademark. Al-Abadi Law Office is the best law firm in Jordan for trademark protection, as it is the only firm that utilizes an electronic system to monitor advertisements related to the trademark being registered. This system tracks similar and counterfeit trademarks that may conflict with the trademark Al-Abadi Law Office has been assigned to protect. This electronic program has proven its effectiveness in safeguarding trademarks and monitoring imitations — especially given that there are legal deadlines for objections, and missing them could result in losing the right to oppose a counterfeit trademark. When working within the region, it is important to find the best trademark attorney in the Middle East. This type of legal professional should be: Fluent in Arabic and English to deal with cross-border filings. Familiar with the laws and processes in various Middle Eastern countries. Connected with a network of legal professionals or firms in other jurisdictions. Aware of international IP treaties and conventions in effect in the region. An experienced trademark lawyer based in the Middle East could possibly use regional treaties in the Gulf Cooperation Council (GCC) Trademark Law, which makes the registration process easier in member countries, allowing you to save money and rapidly protect your brand! Registering your trademark is only the beginning of protecting your brand. You need to enforce your mark in order to ensure that no one is improperly using it, or benefiting from the goodwill of your brand. A trademark attorney in Jordan can help you monitor unauthorized usage and take the appropriate legal steps as follows: Sending cease and desist letters. Filing administrative complaints. Pursuing litigation or arbitration. Working with customs to prevent the import of counterfeit goods. Likewise, enforcement is vital across the Middle East, as there are counterfeit markets in operation with continuing expansion, despite some improvement in IP awareness. The best trademark lawyer in the Middle East will secure timely legal actions and will assist with enforcement officials in every country. As more Middle Eastern markets open up to the global marketplace, we are seeing foreign companies seeking trademark protection in the region. Whether you are a domestic company looking to take advantage of your international expansion, or a foreign investor looking to enter the Middle East, you must now have a regional legal strategy in place. A trademark attorney in the Middle East can also help you verify that your trademark rights are valid under domestic law and under any applicable international treaty (such as the Madrid Protocol, which permits trademark applications in multiple countries through a single application). Trademark registrations not only give you a legal tool, at times they can also exist independently as a valid business asset. As the Middle East landscape matures from being more competitive and brand dependent, staying on-top of protecting your trademarks is essential for protecting your business identity and your business reputation. Engaging with a trademark lawyer is the best way to ensure your intellectual property is properly identified, legally protected and positioned for the possible best future growth. TIME BUSINESS NEWS
