logo
Macci set to further boost Malaysia-Africa business ties

Macci set to further boost Malaysia-Africa business ties

Macci president Amarjeet Singh Ghai (third from left) said the chamber is committed to driving sustainable, inclusive economic collaboration between the two regions.
PETALING JAYA : The Malaysia Africa Chamber of Commerce and Industry (Macci) is set for a high-impact year in 2025, with a packed agenda of trade missions, business forums, and capacity-building initiatives designed to deepen economic ties between Malaysia and the African continent.
Macci also hopes to open new doors for Malaysian businesses eager to explore investment and partnership opportunities in African markets this year with a series of workshops and sector-specific matchmaking events planned across various African nations.
Macci president Amarjeet Singh Ghai said these initiatives underscored the chamber's commitment to driving sustainable, inclusive economic collaboration between the two regions.
In a statement, Amarjeet said Macci aimed to catalyse trade and investment flows between Malaysia and Africa by serving as a vital conduit for businesses, investors, and policymakers seeking cross-continental growth.
'The chamber is committed to facilitating sustainable economic growth and development by fostering strategic partnerships, advocating favourable trade policies, and offering comprehensive resources and support to its members,' he said.
'With a mission centred on building mutual prosperity through business diplomacy, Macci is committed to connecting enterprises, policymakers, and investors from both regions.'
Macci collaborates closely with African embassies and high commissions in Malaysia –including those of Nigeria, Ghana, South Africa, Kenya, Algeria, and Guinea – ensuring direct engagement with both government stakeholders and private sector leaders across the continent.
In addition, Macci maintains strategic affiliations with national chambers of commerce and industry across Africa, serving as vital conduits for cross-border collaboration and policy dialogue.
Macci also works in tandem with established agencies such as the Malaysia External Trade Development Corporation, the Malaysian Investment Development Authority, and the National Chamber of Commerce and Industry of Malaysia to streamline the path for Malaysian firms entering African markets.

Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Malaysia's trade hits RM252b in May, powered by E&E exports, says Miti
Malaysia's trade hits RM252b in May, powered by E&E exports, says Miti

Malay Mail

time31 minutes ago

  • Malay Mail

Malaysia's trade hits RM252b in May, powered by E&E exports, says Miti

KUALA LUMPUR, June 20 — Malaysia's trade increased by 2.6 per cent in May 2025 to reach RM252.48 billion, marking the 17th consecutive month of year-on-year growth since January 2024, said the Ministry of Investment, Trade and Industry. In a statement today, it said exports recorded a slight decrease of 1.1 per cent to RM126.62 billion, while imports grew 6.6 per cent to RM125.86 billion. Trade surplus for the month stood at RM766.3 million, maintaining a trade surplus for the 61st consecutive month since May 2020. The ministry noted that exports of electrical and electronics (E&E) products continued to show resilient performance, registering an increase of nearly RM4 billion — consistent with the World Semiconductor Trade Statistics forecast of an 11.2 per cent increase in global semiconductor sales in 2025. 'As a key player in the global semiconductor supply chain, Malaysia stands to benefit significantly from this anticipated expansion. 'Nevertheless, potential challenges remain, notably the uncertainties in global economic conditions. While the sector's outlook remains positive, proactive policy responses will be crucial to sustain this growth momentum,' it said. According to Miti, trade, exports and imports achieved their highest cumulative value on record for the January to May 2025 period, with trade growing 6.2 per cent to RM1.23 trillion compared to the corresponding period in 2024. Exports expanded 5.5 per cent to RM638.48 billion and imports rose 6.9 per cent to RM591.54 billion, while the trade surplus slipped 9.4 per cent to RM46.94 billion. The ministry noted that exports to key trading partners, including the United States and the European Union recorded robust growth, while exports to Taiwan not only expanded but also attained a new record high. 'Exports to Free Trade Agreement (FTA) partners, notably the United Kingdom and New Zealand also recorded increases, primarily due to higher shipments of palm oil-based manufactured products,' it added. — Bernama

No reason for price hike as refined sugar remains exempt from SST, Finance Ministry tells MSM
No reason for price hike as refined sugar remains exempt from SST, Finance Ministry tells MSM

Malay Mail

timean hour ago

  • Malay Mail

No reason for price hike as refined sugar remains exempt from SST, Finance Ministry tells MSM

KUALA LUMPUR, June 20 — Refined sugar (or commonly known as white sugar) remains tax-free under the revised Sales and Service Tax (SST) that will take effect on July 1, 2025, said the Ministry of Finance (MOF). The MOF said in a statement today that raw sugar used in the production of refined sugar would be subject to a five per cent sales tax. 'However, as previously announced, manufacturers such as MSM Malaysia Holdings Bhd are eligible to apply for tax exemption on their raw materials and inputs. 'Hence, there is no reason for any increase in the price of refined sugar — especially since sugar refiners like MSM continue to receive monthly incentives from the government to ensure supply and price stability,' the MOF said. The MOF said this to clarify a statement issued by MSM regarding the impact of the sales tax revision on raw sugar. The ministry said the Madani Government has taken a targeted approach by not imposing taxes on essential goods such as sugar, salt, chicken, eggs, meat, fish, vegetables, cooking oil and rice. 'This is to ensure that the majority of the people will not be affected by the SST revision,' it said. The MOF said sugar refiners and manufacturers in Malaysia can apply to the Royal Malaysian Customs Department for tax exemptions as provided for under Item 1, Column (2), Schedule B of the Sales Tax (Persons Exempt from Payment of Tax) Order. Yesterday, it was reported that national refined sugar producer MSM is reviewing the five per cent extension of SST involving raw sugar and is seeking further clarification from the government to monitor the impact on the prices of regulated goods. According to the MSM group chief executive officer, the retail price of sugar in Malaysia has been capped at RM2.85 per kilogramme since 2011, despite the global raw sugar price increasing in recent years. He said that if the tax was imposed on raw sugar, the country's refined sugar producers could pass on the cost to the industry. 'However, we cannot do that for sugar because it is under price control,' he said, adding that 75 to 80 per cent of MSM's production costs come from raw sugar. — Bernama

Finance Ministry: No reason for sugar price hike as refined sugar remains exempt from SST
Finance Ministry: No reason for sugar price hike as refined sugar remains exempt from SST

Malay Mail

timean hour ago

  • Malay Mail

Finance Ministry: No reason for sugar price hike as refined sugar remains exempt from SST

KUALA LUMPUR, June 20 — Refined sugar (or commonly known as white sugar) remains tax-free under the revised Sales and Service Tax (SST) that will take effect on July 1, 2025, said the Ministry of Finance (MOF). The MOF said in a statement today that raw sugar used in the production of refined sugar would be subject to a five per cent sales tax. 'However, as previously announced, manufacturers such as MSM Malaysia Holdings Bhd are eligible to apply for tax exemption on their raw materials and inputs. 'Hence, there is no reason for any increase in the price of refined sugar — especially since sugar refiners like MSM continue to receive monthly incentives from the government to ensure supply and price stability,' the MOF said. The MOF said this to clarify a statement issued by MSM regarding the impact of the sales tax revision on raw sugar. The ministry said the Madani Government has taken a targeted approach by not imposing taxes on essential goods such as sugar, salt, chicken, eggs, meat, fish, vegetables, cooking oil and rice. 'This is to ensure that the majority of the people will not be affected by the SST revision,' it said. The MOF said sugar refiners and manufacturers in Malaysia can apply to the Royal Malaysian Customs Department for tax exemptions as provided for under Item 1, Column (2), Schedule B of the Sales Tax (Persons Exempt from Payment of Tax) Order. Yesterday, it was reported that national refined sugar producer MSM is reviewing the five per cent extension of SST involving raw sugar and is seeking further clarification from the government to monitor the impact on the prices of regulated goods. According to the MSM group chief executive officer, the retail price of sugar in Malaysia has been capped at RM2.85 per kilogramme since 2011, despite the global raw sugar price increasing in recent years. He said that if the tax was imposed on raw sugar, the country's refined sugar producers could pass on the cost to the industry. 'However, we cannot do that for sugar because it is under price control,' he said, adding that 75 to 80 per cent of MSM's production costs come from raw sugar. — Bernama

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store