Latest news with #Investment
The Star
8 hours ago
- Business
- The Star
M'sia courts global healthcare investors
KUALA LUMPUR: Malaysia is well positioned to tap into the high growth of the global healthcare sector due to Putrajaya's strong industrial reform agenda, robust industrial ecosystem, progressive policies and investor-friendly environment, said Tengku Datuk Seri Zafrul Abdul Aziz. The Investment, Trade and Industry Minister (Miti) said that from pharmaceuticals and medical devices to healthcare services and medical tourism, the healthcare sector is a catalyst for high-value job creation, innovation and exports. According to Tengku Zafrul, the medical devices market is projected to grow by 63% from RM2.53 trillion in 2024 to RM4.13 trillion by 2032. 'The global healthcare sector has proven to be not only resilient but also transformative, offering immense opportunities in medical devices, pharmaceuticals, biotechnology and digital health solutions,' he said in his opening remarks at the three-day International Healthcare Week 2025 (IHW 2025), which began here yesterday. 'Thanks to our strong industrial reform agenda, robust industrial ecosystem, progressive policies, investor-friendly environment and a skilled, industry-ready workforce, Malaysia's healthcare industry is well-positioned to capture this growth.' Tengku Zafrul also said that last year alone, the medical devices and pharmaceutical industries garnered RM2.13bil in combined investments, creating over 2,700 high-value jobs across manufacturing, research and development, and regulatory services. 'Today, eight of the world's top 30 medical device companies have established operations in Malaysia,' he said, adding that Malaysia is home to over 300 healthcare companies. Tengku Zafrul said that from January to May this year, pharmaceutical exports have increased by 7.8%. 'This is also due to our industrial reform initiatives. Reform builds industrial resilience, which in turn feeds our exports' resilience,' he noted. On the IHW, Tengku Zafrul said it is not just a healthcare event but also a platform to bring together global thought leaders, innovators, policymakers and investors to shape the future of South-East Asia's healthcare sector. 'I feel that the IHW 2025 represents more than an exhibition – it is a call to action to strengthen collaboration, accelerate innovation and ensure that our healthcare systems remain inclusive, sustainable and future-ready. 'I'm proud that Malaysia is playing host to this global gathering and I am confident that over the course of the next few days, this platform will generate meaningful dialogue, strategic partnerships and tangible business outcomes that benefit all participants,' added Tengku Zafrul. Malaysia External Trade Development Corp (Matrade) chairman Datuk Seri Reezal Merican Naina Merican said Malaysia needs to capitalise on its ever-growing healthcare industry to counteract uncertainties in global trade. He said this was due to incredible growth in the nation's medical device sector, which spiked by 27.7% to RM46.5bil in trade value last year, with exports increasing by 31.6%. 'Malaysia will need to develop a national strategic roadmap for the healthcare industry going forward,' Reezal Merican said. 'We have evolved from producing basic medical supplies to manufacturing sophisticated healthcare technologies, and are now being recognised as one of the top destinations for healthcare travellers. 'This roadmap will be our blueprint for us to solidify Malaysia's position as a global leader in healthcare. 'This is key because as more challenges in the global trade and economy appear, we need to be able to navigate with agile approaches to international trade dynamics, and evolving global relationships,' he said during his speech at the event. Held in Kuala Lumpur for the second time, the IHW 2025 is showcasing over 900 exhibitors from key healthcare industries from medical devices to pharmaceuticals, and is expected to draw over 21,000 visitors from now to tomorrow. Among the notable conferences that will take place at the event are the Conference of Pharmaceutical Ingredients South East Asia and World Health Expo KL.
Scoop
10 hours ago
- Business
- Scoop
Pacific Trade Ministers To Meet In Fiji
Minister of State for Trade and Investment Minister of State for Trade and Investment Nicola Grigg will travel to Fiji this week to attend the Pacific Island Forum's Trade Ministers Meeting (FTMM). 'Trade plays a critical role in getting more money into your back pocket, helping you and your family to thrive. It drives employment, economic growth, and lifts the standard of living in NewZealand and across the Pacific,' Ms Grigg says. The Pacific Island Forum's (PIF) biennial Trade Ministers Meeting will be held in Suva on 18 July. It is a key regional event, bringing together Pacific trade ministers to discuss and shape the future of trade and economic integration. 'The Government is strongly committed to supporting Pacific Island countries to grow the positive impacts of trade. New Zealand's attendance at the FTMM signals our continued commitment to regional cooperation, resilience, and leadership in advancing Pacific trade priorities under the 2050 Strategy for the Pacific Blue Continent,' Ms Grigg says. 'This key regional meeting provides a timely platform to discuss the critical importance of the rules-based trading system, with the World Trade Organisation at its core. This structure is particularly vital for small countries like New Zealand and PIF members. We are best served by a world in which trade flows freely governed by rules. 'I will attend a Fiji NewZealand Business Council event where the Council will launch its strategy to help reach the joint NewZealand and Fiji goal of lifting two-way trade to NZ$2 billion by 2030. 'I also look forward to engaging with my PACER Plus Ministerial counterparts. PACER Plus is the largest and most comprehensive trade agreement in our region. It is helping both large and small businesses — including women-led businesses — to grow; reduce costs through e-commerce and enhance regulatory cooperation between governments, streamline customs processes, paperless trade, and provisions on investment that protect investors; and to promote cross-border investment flows. 'While PACER Plus is a trade agreement, with currently 10 parties, that also speaks to the bonds between our nations, as neighbours, partners, and family, whose interests, prosperity, and well-being are intertwined.' The goal of lifting joint two-way trade with Fiji and New Zealand was set by our Prime Ministers in June last year. The Joint Statement by the Prime Ministers of Fiji and New Zealand can be read here.
Sharjah 24
11 hours ago
- Business
- Sharjah 24
UAE, Turkish Presidents witness exchange of agreements and MoUs
Exchanged during His Highness the UAE President's state visit to Türkiye, the agreements aim to expand cooperation, reflecting the two countries' shared commitment to further advancing bilateral relations across various sectors. The agreements and memoranda include: Agreement on the mutual protection of classified information: MoU on the establishment of a joint consular committee MoU on investment in food and agriculture MoU on investment cooperation in the pharmaceutical industry MoU on investment in tourism and hospitality MoU on investment cooperation in the industrial sector MoU on cooperation in polar research The agreements and memoranda were exchanged during a formal ceremony held at the Presidential Palace in Ankara. From the UAE side, the agreements were exchanged by: Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology Mohamed Hassan Alsuwaidi, Minister of Investment Mohamed Mubarak Al Mazrouei, Minister of State for Defence Affairs Khalifa Shaheen Al Marar, Minister of State From the Turkish side, the agreements were exchanged by: Yaşar Güler, Minister of National Defence Nuh Yılmaz, Deputy Minister of Foreign Affairs Ahmet Burak Dağlıoğlu, President of the Investment Office of the Presidency of the Republic of Türkiye Mehmet Fatih Kacır, Minister of Industry and Technology
Gulf Today
13 hours ago
- Business
- Gulf Today
UAE, Turkish Presidents witness exchange of agreements and MoUs
UAE President His Highness Sheikh Mohamed Bin Zayed Al Nahyan and Recep Tayyip Erdogan, President of the Republic of Turkey, on Wednesday witnessed the exchange of several agreements and memoranda of understanding between the UAE and Turkey. Exchanged during His Highness the UAE President's state visit to Turkey, the agreements aim to expand cooperation, reflecting the two countries' shared commitment to further advancing bilateral relations across various sectors. The agreements and memoranda include: — Agreement on the mutual protection of classified information — MoU on the establishment of a joint consular committee — MoU on investment in food and agriculture — MoU on investment cooperation in the pharmaceutical industry — MoU on investment in tourism and hospitality — MoU on investment cooperation in the industrial sector- MoU on cooperation in polar research Sheikh Mohamed and Recep Tayyip Erdogan (3rd R), and their delegations during a meeting at the Presidential Complex in Ankara. AFP The agreements and memoranda were exchanged during a formal ceremony held at the Presidential Palace in Ankara. From the UAE side, the agreements were exchanged by: Dr Sultan Bin Ahmed Al Jaber, Minister of Industry and Advanced Technology - Mohamed Hassan Alsuwaidi, Minister of Investment — Mohamed Mubarak Al Mazrouei, Minister of State for Defence Affairs — Khalifa Shaheen Al Marar, Minister of State From the Turkish side, the agreements were exchanged by: Yaşar Güler, Minister of National Defence — Nuh Yılmaz, Deputy Minister of Foreign Affairs — Ahmet Burak Dağlıoğlu, President of the Investment Office of the Presidency of the Republic of Turkeye — Mehmet Fatih Kacır, Minister of Industry and Technology WAM
Al Etihad
15 hours ago
- Business
- Al Etihad
UAE, Turkish Presidents witness exchange of agreements, memoranda of understanding
16 July 2025 20:20 ANKARA (WAM) UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and His Excellency Recep Tayyip Erdoğan, President of the Republic of Türkiye, on Wednesday witnessed the exchange of several agreements and memoranda of understanding between the UAE and Tü during His Highness the UAE President's state visit to Türkiye, the agreements aim to expand cooperation, reflecting the two countries' shared commitment to further advancing bilateral relations across various agreements and memoranda include:– Agreement on the mutual protection of classified information– MoU on the establishment of a joint consular committee– MoU on investment in food and agriculture– MoU on investment cooperation in the pharmaceutical industry– MoU on investment in tourism and hospitality– MoU on investment cooperation in the industrial sector– MoU on cooperation in polar researchThe agreements and memoranda were exchanged during a formal ceremony held at the Presidential Palace in the UAE side, the agreements were exchanged by:– His Excellency Dr Sultan bin Ahmed Al Jaber, Minister of Industry and Advanced Technology– His Excellency Mohamed Hassan Alsuwaidi, Minister of Investment– His Excellency Mohamed Mubarak Al Mazrouei, Minister of State for Defence Affairs– His Excellency Khalifa Shaheen Al Marar, Minister of StateFrom the Turkish side, the agreements were exchanged by:– His Excellency Yaşar Güler, Minister of National Defence– His Excellency Nuh Yılmaz, Deputy Minister of Foreign Affairs– His Excellency Ahmet Burak Dağlıoğlu, President of the Investment Office of the Presidency of the Republic of Türkiye – His Excellency Mehmet Fatih Kacır, Minister of Industry and Technology
