Malaysia launches exporter outreach, reforms post-US tariff deal
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz stated the agreement resulted from 'months of intense but thorough as well as methodical negotiations' without compromising Malaysia's 'red lines' in strategic sectors. 'Most importantly, we achieved this without conceding on our red lines in key areas,' he said during his keynote at The Edge Malaysia Centurion Club Awards 2025.
Protected areas include foreign equity limits in strategic industries, digital legal safeguards, and halal standards. 'The negotiation package was a full-of-nation offer, not just the government, but all (of you)—many companies contributed to that,' he added.
Post-deal, the government's focus includes:
1. **Exporter Outreach:** Engaging SMEs and multinationals to mitigate tariff impacts.
2. **Regulatory Reform:** Cutting bureaucratic overlaps and outdated rules.
3. **Supply Chain Mapping:** Strengthening industrial roles in global supply chains.
Tengku Zafrul highlighted Malaysia's mid-cap companies (RM100m–RM1b market cap) as vital to the New Industrial Master Plan 2030. 'As of March 31, there are 519 such Centurions, critical to our national economic aspirations,' he noted. - Bernama
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Malaysiakini
10 minutes ago
- Malaysiakini
S'pore court reserves judgment on Pannir's post-appeal application
Malaysian death row inmate Pannir Selvam Pranthaman gained a reprieve when the Singapore Court of Appeal reserved its judgment, following the second hearing on his post-appeal application held on Wednesday. The Singapore Ministry of Home Affairs' policy on the scheduling of executions came under scrutiny during the proceedings, as Pannir's counsel and the Attorney-General's Chambers addressed the content of affidavits they submitted after the first hearing on May 7.
Malaysiakini
10 minutes ago
- Malaysiakini
Do migrant workers deserve the same benefits as locals?
YOURSAY | 'Dignity at work is not a privilege, it is a right for everyone.' Guan Eng: No need minimum wage, EPF for existing migrant workers IndigoGoat3056: Bagan MP Lim Guan Eng made a troubling statement in Parliament on Aug 6, asserting that there is no need to mandate the RM1,700 minimum wage or Employees Provident Fund (EPF) contributions for existing migrant workers, arguing that Malaysia is not bound by certain International Labour Organisation conventions. He further cited Singapore's exclusion of Central Provident Fund contributions for migrant workers as justification. This is a deeply disappointing position. The DAP MP, in this case, is operating from a narrow capitalist mindset that clearly contradicts the spirit of the Federal Constitution, fundamental human rights principles, and the values of social justice. Lim's statement reflects an economic ideology that prioritises employer profits over fairness for all workers, particularly migrant workers, who are often among the most exploited. Legally, morally, and constitutionally, this reasoning is flawed. Malaysia's Federal Constitution, under Article 8, guarantees that 'all persons are equal before the law and are entitled to the equal protection of the law.' This does not limit protection to citizens. It includes all persons, including non-citizens. Migrant workers who are lawfully present and employed in Malaysia are entitled to this equal protection. Any policy that denies them basic rights, such as minimum wage or EPF, is discriminatory. The Court of Appeal in Tak Tek Seng further clarified that the right to life under Article 5 includes the right to livelihood. Denying migrant workers fair wages and social protection is a denial of that livelihood - and a denial of dignity. In Kathiravelu Ganesan v Kojasa Holdings Bhd, the Court of Appeal held that a migrant worker qualifies as a 'workman' under Malaysian labour law and can bring claims for unfair dismissal under Section 20(1) of the Industrial Relations Act 1967. If the law recognises their right to challenge unfair dismissal, it must also uphold their right to minimum standards of compensation and retirement protection. Article 6 prohibits all forms of forced labour, regardless of nationality. Paying migrant workers below the wage floor and denying EPF contributions - while demanding full output - amounts to economic exploitation, in breach of the Constitution. Furthermore, Article 10 allows migrant workers to be members of trade unions, affirming their recognised role in the national workforce. Article 155 also provides reciprocal rights for Commonwealth citizens - a reminder that migrant workers are not to be treated as second-class. The idea that existing migrant workers - many of whom have served this country for years - can be excluded from protections just because they were hired earlier is not justifiable. It rewards employers for locking in unfair contracts and punishes workers who have already contributed significantly to Malaysia's economy. Malaysia does not need to wait for international treaties to act justly. Our own Constitution, courts, and conscience demand it. Migrant workers deserve minimum wage, EPF contributions, and equal labour rights - regardless of when they were hired or where they came from. Dignity at work is not a privilege; it is a right for everyone. TMataz: Agree. The minimum wage ruling should apply only to Malaysian citizens. Applying the same ruling to migrants only distracts from the more urgent focus on alleviating the living wage of our fellow Malaysians. An average Singaporean's income is SG$6,000 a month. Sadly, the average income for Malaysians is RM6,000 a month. I believe Malaysia should strive for at least half of that figure, due to our Malaysian equivalent educational literacy and the lower cost of living, which is why the average Malaysian should be earning RM9,900 per month. To progressively push the employer to improve their business productivity and retool their operations to meet today's technological demands, and to be better able to alleviate their Malaysian employees' income. It's not fair to put unfair constraints on local businesses and to force them to pay unreasonably high wages for menial jobs done by migrants. Thus, if we remove migrants from the national minimum wage ruling, then we are able to fast-track wages for our Malaysian citizen workers to double the current minimum. If there is a need to placate international labour rules, just do a separate minimum wage requirement for migrants. Coward: Our ex-finance minister is not showing any knowledge of the market. Minimum wage and EPF contributions for migrant workers are not there to protect them. Both are there to prevent them from undercutting locals. If employers don't have to respect them, then they are cheaper than locals from the employer's viewpoint. When that's the case, who will they employ? In most countries where employers contribute to pension funds, they are required to give migrant workers what they would have contributed to the funds for locals if they didn't have to open the same pension fund account for migrant workers. The people of Selangor: Who came up with the idea of EPF and minimum wages for migrant workers? How will such a policy or ruling benefit our country? What is the purpose of it? Do we want to encourage more migrant workers to come here? What we see is more illegal workers coming here instead. We should suggest better policies for local workers instead of migrant workers; these policies will only burden our employers or businesses and increase our cost of living. BlueGecko7216: Without equal minimum wages for migrants, it will lead to an influx of migrant workers, which is detrimental to local workers. There will also be an improvement in productivity in general. The above is a selection of comments posted by Malaysiakini subscribers. Only paying subscribers can post comments. In the past year, Malaysiakinians have posted over 100,000 comments. Join the Malaysiakini community and help set the news agenda. Subscribe now. These comments are compiled to reflect the views of Malaysiakini subscribers on matters of public interest. Malaysiakini does not intend to represent these views as fact.
The Star
37 minutes ago
- The Star
Honing skills of women in the boardroom
WHEN women leaders are told their ideas cannot be implemented, they should continue to pursue them without giving up, Youth and Sports Minister Hannah Yeoh says. 'When you are told something cannot be done, ask why. 'Is it because no one has done it before? It doesn't mean it cannot be done; maybe you can be the one who finally implements it,' she said during the third edition of Deloitte Malaysia's Board-Ready Women (BRW) programme 2025 at Menara LGB, Taman Tun Dr Ismail, Kuala Lumpur. Siew Ming says it is important to have a circle of people who will speak the truth. Hannah cited the issue of automatic citizenship for children born to Malaysian mothers and foreign fathers under the Constitution (Amendment) Act 2024. She explained that in 2022, both Pakatan Harapan and Barisan Nasional included this matter of citizenship in their election manifestos. 'When the unity government was formed, this issue was one of common interest between both parties, which led to the reform.' She said this was an example of how a rejected idea was ultimately successful because it was continuously championed. Hannah also advised participants to practise what they preach, saying that employees expect their bosses to live by the values they promote. She noted that with social media, people were held accountable for what occurred in their private life once they became public figures. She said that even she was not free from public judgment. 'I work seven days a week. Sports events mostly happen on weekends, and when I take just an hour to shop with the little free time I get, I am questioned about why I'm not at work. 'Similarly, board members and directors work around the clock and have their own challenges,' she said, adding that a woman leader's performance sets the benchmark for the next one. BRW's programme leader Siti Hajar Osman said women now held 29.7% of board seats across Malaysian companies, a significant leap from just 14% a decade ago. Hamidah advises participants to continue learning in areas they lack knowledge. Among the top 100 public-listed companies, the figure is 33.1%, reflecting a growing recognition of the value women bring to leadership, she said. 'The call to increase leadership diversity goes beyond social responsibility – it's a strategic imperative,' she said, adding that the programme helped to drive gender parity, innovation in leadership and a sustainable talent pipeline. Since its inception in 2023, over 50 women leaders had graduated from BRW where the programme equipped them with the technical expertise, strategic insights and soft skills needed to thrive in boardrooms. The programme is run in collaboration with BoardRoom Malaysia, Institute of Corporate Directors Malaysia (ICDM) and 30% Club Malaysia. It offers participants industry insights into the latest trends, technical thought leadership and essential soft skills to meet the evolving demands of corporate governance. Participants also benefit from exclusive access to board decision-makers, industry leaders and knowledge partners through networking opportunities. Among the speakers at the event was Maxis independent non-executive director Datuk Hamidah Naziadin, who encouraged women leaders to continue learning in areas where they lack knowledge. 'I was not good in financial matters. In 2024, I signed up for ACCA (Association of Chartered Certified Accountants). Keep learning,' she advised. Another speaker, PETRONAS Chemicals Group senior independent non-executive director Yeoh Siew Ming, said it was important to have a circle of people who would tell you the truth, as this was crucial for the decision-making process. She said there would always be new things to learn and keep abreast of, with artificial intelligence (AI). 'I even learned chemistry later in life to understand things better. 'The more we spend time on something, the better we become at it,' Siew Ming said, adding that during the Covid-19 pandemic she took up golf which helped her find common ground with her male counterparts. BRW is a flagship initiative under Deloitte's 'Global Boardroom' programme that aims to prepare more women for boardroom roles.
