Fdi

PUTRAJAYA: An Umno leader has questioned the Perikatan Nasional government over the dismal foreign direct investment (FDI) record which saw figures plunge drastically over the past three years. Federal Territories Umno chief Datuk Seri Johari Abdul Ghani said that in 2017, Malaysia’s FDI stood at US$13.5bil (RM56bil) but in 2020 the amount recorded was merely US$2.5bil (RM10.37bil). On the other hand, he said other countries in the region recorded healthy growth, such as Indonesia. According to United Nations Conference on Trade and Development (UNCTAD) figures, Indonesia registered 14% FDI growth between 2018 and 2019 and its decline during the pandemic in 2020 was only 24% against Malaysia's decline of 68%. “A minister commented on this and his argument was that the low FDI figures were because of the Covid-19 pandemic. “Are you telling me that there is no Covid-19 in Indonesia and that is why they have more FDI than us?" he questioned during the debate on the presidential ... » Learn More about Umno leader questions Perikatan govt over dismal FDI record

Editorial Indonesia has many attributes that make it theoretically a coveted destination for foreign direct investment (FDI): Richly abundant natural resources, the largest consumer market in Southeast Asia and a young workforce. Yet man-made barriers have persistently made the world’s largest archipelago one of the most restrictive countries to FDI as measured by the Organization of Economic Cooperation and Development FDI Regulatory Restrictiveness Index. “Policymakers have yet to demonstrate their intention to establish a clear role for FDI”, declares the latest Organisation for Economic Cooperation and Development (OECD) investment policy review on Indonesia. Then, Boom. The government enacted the Job Creation Law late last year, designed to remove restrictions and conditions imposed on FDI, centralize and streamline business licensing and land acquisition procedures, adopt a risk-based approach to business licensing and make it a more transparent and fully online process, ... » Learn More about Local products come first

KUALA LUMPUR: Bank Negara has announced five new measures to further liberalise the foreign exchange policy (FEP) to allow greater flexibility for businesses and to foster a conducive environment in attracting foreign direct investment (FDI) to Malaysia. The central bank will be lifting the export conversion rule, which will allow resident exporters to manage their own export conversions according to their foreign exchange cash flow needs. Secondly, exports will be allowed to settle domestic trade in foreign currency with other resident corporates operating in the global supply chain. Exporters will also be allowed to net off export proceeds in its permitted foreign currency obligations as a move to enhance business efficiency and cash flow management for exporters. The fourth measure allows exporters to repatriate their export proceeds beyond six months in exceptional circumstances such as when their buyers are in financial difficulty. Finally, resident corporates can now ... » Learn More about Bank Negara relaxes forex policies

PETALING JAYA: Datuk Seri Mustapa Mohamed has urged Malaysians to be fair and balanced in assessing the economy amid criticisms that the Emergency ordinance is affecting foreign direct investment (FDI) into the country. The Minister in the Prime Minister's Department (Economic Affairs) said there is a downside and an upside to any country's economy. “As the government, we acknowledge that, and we have challenges as well. We have also been doing well in some areas," he told a press conference at Sunway University on Monday (April 5). Mustapa had earlier attended a meeting there with Sunway Group founder and chairman Tan Sri Dr Jeffrey Cheah on promoting closer cooperation between the public and private sectors, including discussions on the United Nations' Sustainable Development Goals (SDGs). Sunway University hosts the Jeffrey Sachs Centre on Sustainable Development with the support of the UN Sustainable Development Solutions Network, a regional centre of excellence that ... » Learn More about Tok Pa to M’sians: Be fair in assessing economy, bear in mind the challenges posed by pandemic

KUALA LUMPUR: Malaysia is confident of attracting more foreign investment this year after a big decline in 2020, and is looking at incentives to help support that goal, its finance minister said on Monday. Tengku Datuk Seri Zafrul Abdul Aziz said in an interview that incentives had traditionally been linked to the size of investments, but that they could also focus on "soft skills." "If the investor is bringing R&D, these are not really tangible, but perhaps we should give the incentive to that as well," he said, adding the drop in foreign direct investment (FDI) last year was largely due to the one-off impact of the coronavirus pandemic and political uncertainties. In a January report, the United Nations Conference on Trade and Development said FDI into Malaysia plunged 68% last year, the biggest decline in south east Asia. "I think they've (foreign investors) seen that most of the policies are intact, we have not changed any tax policies, initiatives and incentives are ... » Learn More about Malaysia confident of attracting more foreign investment this year

KUALA LUMPUR: Malaysia said on Wednesday (Apr 7) it had secured potential investments from South Korea and Japan amounting to RM16.05 billion (US$3.89 billion) and export purchases of about RM986.2 million to be realised in the coming years. Malaysia is hoping to attract more foreign investment this year after a major drop in 2020. In a January report, the United Nations Conference on Trade and Development said FDI into the country slid 68 per cent last year, the biggest drop in Southeast Asia. Aside from the impact of the coronavirus pandemic, the World Bank has attributed falling FDI in part to longstanding policy and structural issues. The deals with South Korea and Japan came as Malaysia's International Trade and Industry Minister Mohamed Azmin Ali wrapped up a week-long trade mission to both countries on Tuesday. "The mission, also the first for this year, was paramount to the rigorous efforts by the ministry ... to bring in foreign direct investments into Malaysia," the ... » Learn More about Malaysia says South Korean and Japanese firms to invest US$3.9b in coming years

WASHINGTON (Reuters) - U.S. Vice President Kamala Harris on Saturday congratulated Tanzania's new president Samia Suluhu Hassan, the first woman to hold that office, and said the United States was ready to strengthen ties between the two countries. Harris, the first woman and first person of color to serve as U.S. vice president, made the comment in a posting on Twitter. "Sending best wishes to @SuluhuSamia following her swearing in as Tanzania's new President - the first woman to hold the office. The United States stands ready to work with you to strengthen relations between our countries," she wrote. Hassan, who had been vice president since 2015, on Friday urged the country to unite https://www.reuters.com/article/idUSL1N2LH099 and avoid pointing fingers after the death of John Magufuli, her COVID-19 sceptic predecessor. The U.S. Trade Representative's office is leading U.S. efforts to forge a new trade and investment partnership with the East African Community, a ... » Learn More about First female U.S. vice president Harris congratulates Tanzania’s first woman president Hassan

THE Malaysian Investment Development Authority (MIDA) is intensifying its efforts to attract high quality investments to boost Malaysia’s status as a globally competitive trading nation despite the Covid-19 health crisis. As the Government’s principal investment promotion agency under the International Trade and Industry Ministry, MIDA recognises the challenges in the global business landscape – including regional and new emerging economies – and has undertaken various strategies to address the issues. MIDA chairman Datuk Abdul Majid Ahmad Khan (pic) said Malaysia has adopted selective and targeted approaches to bring in high quality investments. “We no longer have this idea of investment based on labour intensive projects because we are facing more competition, and there are new emerging centres attracting such foreign investment. We don’t promote low end assembly-type operations anymore, ” he said in a virtual interview. On quality investments, he emphasised that the ... » Learn More about Mida eyes quality investments

JAKARTA (THE JAKARTA POST/ASIA NEWS NETWORK) - Indonesia has many attributes that make it theoretically a coveted destination for foreign direct investment (FDI): Richly abundant natural resources, the largest consumer market in Southeast Asia and a young workforce. Yet man-made barriers have persistently made the world's largest archipelago one of the most restrictive countries to FDI as measured by the Organisation of Economic Cooperation and Development FDI Regulatory Restrictiveness Index. "Policymakers have yet to demonstrate their intention to establish a clear role for FDI", declares the latest Organisation for Economic Cooperation and Development (OECD) investment policy review on Indonesia. Then, Boom. The government enacted the Job Creation Law late last year, designed to remove restrictions and conditions imposed on FDI, centralise and streamline business licensing and land acquisition procedures, adopt a risk-based approach to business licensing and make it a more ... » Learn More about Local products come first: Jakarta Post

SUNCITY BECAME SUMMIT ASCENT’S PARENT COMPANY TdC ADJUSTED EBITDA TURNED POSITIVE IN 2H 2020 AS A RESULT OF SOLID LOCAL RUSSIAN BUSINESSES IN MASS & ELECTRONIC GAMING DIVERSIFY INTO THE PHILIPPINES HONG KONG SAR - Media OutReach - 23 March 2021 - SUMMIT ASCENT HOLDINGS LIMITED ("Summit Ascent", the "Group" or "Company") (Hong Kong Stock Exchange code: 102) today reported results for the six months and twelve-month periods for the year ended 31 December 2020. All amounts are expressed in HKD unless otherwise stated. 2H & FULL YEAR ANNUAL 2020 RESULTS HIGHLIGHTS: Summit Ascent: Suncity has Every Reason to Back Up Summit Ascent as Suncity is now the Parent Company of Summit Ascent Summit Ascent became a subsidiary of Suncity Group Holdings Limited ("Suncity", HKEx: 1383) since October 2020, and Suncity is dedicated to help Summit Ascent's businesses as Suncity now owns 69.66% of Summit Ascent Summit Ascent increased holdings of Tigre de Cristal to ... » Learn More about SUMMIT ASCENT HOLDINGS LIMITED REPORTS 2H & ANNUAL 2020 RESULTS