Tengku Zafrul Conferred DPPN Award In Conjunction With Penang Governor's Birthday
The award was presented during the investiture ceremony at Dewan Sri Pinang here, in recognition of Tengku Zafrul's services and contributions in strengthening the national economy and attracting strategic investments, particularly into Penang.
'I am truly grateful to His Excellency the Governor of Penang for this honour. MITI will continue to strive to ensure that Penang remains a hub for investment and trade,' he told reporters after the investiture ceremony here.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
The Star
23 minutes ago
- The Star
Johor steps up monitoring, urges public to report sharp hikes in egg prices
JOHOR BARU: The Johor branch of the Domestic Trade and Cost of Living Ministry has urged the public to report any traders who drastically increase egg prices following the start of the subsidy restructuring today. Its director Lilis Saslinda Pornomo said monitoring efforts at business premises across the district would be further intensified to prevent profiteering. She said the operation involves 200 enforcement officers and 87 price monitoring officers, all working to ensure compliance. "I would like to remind traders not to arbitrarily raise prices, as enforcement officers and price monitors will carry out thorough investigations. "Therefore, I urge Johor consumers to continue lodging complaints so that firm action can be taken under the Price Control and Anti-Profiteering Act 2011,' she said when contacted by Bernama on Friday (Aug 1). Yesterday, the government announced the restructuring of chicken egg subsidies, to take effect today (Aug 1), as part of a phased and targeted subsidy approach aimed at greater sustainability and higher impact. The Agriculture and Food Security Ministry, in a statement, said that the industry had agreed to introduce Special Grade Eggs, which will be offered at more affordable prices to consumers. On July 22, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu reportedly said that the reduction in egg subsidies - from 10 sen to 5 sen per egg, effective May 1 - was expected to save the government RM135mil over a three-month period, ahead of the complete removal of price controls on eggs, which takes effect today. - Bernama
New Straits Times
23 minutes ago
- New Straits Times
MITI to help exporters navigate revised 19pct US tariff
KUALA LUMPUR: The Investment, Trade and Industry Ministry (MITI) will work with other ministries and agencies to help Malaysian exporters adjust to the revised 19 per cent United States (US) tariff on Malaysian goods. This includes maximising the use of Malaysia's 18 free trade agreements, strengthening market diversification and accelerating key industrial reform initiatives, MITI said in a statement today. Policy frameworks under focus include the New Industrial Master Plan 2030, the Green Investment Strategy and the National Semiconductor Strategy, each aimed at enhancing efficiency, boosting productivity and positioning Malaysian companies to compete globally. "MITI will continue to work closely with stakeholders to maximise the opportunities from this development," said minister Tengku Datuk Seri Zafrul Abdul Aziz. "We remain committed to defending Malaysia's trade interests while fostering mutually beneficial partnerships with key economies, including the US." The ministry also highlighted Malaysia's strong economic fundamentals, citing robust domestic demand and an investment realisation rate of over 85 per cent. The US is Malaysia's largest export destination with trade valued at RM198.65 billion. It is also the country's largest source of foreign direct investment, with RM32.82 billion in approved investments recorded in 2024. MITI said it will roll out targeted outreach programmes in the coming months to assist Malaysian companies, especially small and medium enterprises, in navigating the revised tariff landscape and identifying new export opportunities.
New Straits Times
23 minutes ago
- New Straits Times
Tariff deal shows Malaysia is a trusted partner, says Tengku Zafrul
KUALA LUMPUR: The United States' decision to reduce its tariff on Malaysian exports to 19 per cent is a strong signal of confidence in Malaysia's credibility and economic stewardship, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. "This decision by the US reflects the strong and enduring economic ties between our two nations," he said in a statement today. "It is also a testament to Malaysia's credibility as a reliable trade and investment partner." Tengku Zafrul said the tariff outcome followed Malaysia's consistent and methodical negotiating approach, which safeguarded the country's right to pursue domestic policies while securing a tariff rate that is in line with regional benchmarks. The 19 per cent tariff, down from the previously imposed 25 per cent, will come into effect on Aug 7, after bilateral negotiations concluded on July 31. Talks between both governments began on May 6, and involved multiple platforms of engagement, according to the Investment, Trade and Industry Ministry (MITI). MITI said Malaysia stood firm on several "red line" issues to ensure the agreement did not compromise its socio-economic development agenda. The ministry also expressed appreciation to Prime Minister Datuk Seri Anwar Ibrahim, the Prime Minister's Office, and key ministries and agencies for their roles in the negotiation process. Other parties involved included the American Malaysian Chamber of Commerce, the US-Asean Business Council, think tanks and industry representatives. The US is Malaysia's largest export market, with trade valued at RM198.65 billion and its largest source of foreign direct investment, with RM32.82 billion in approved investments recorded in 2024.
