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Malay Mail
25-05-2025
- Business
- Malay Mail
Tengku Zafrul: Malaysia optimistic that Atiga upgrade will boost financial services liberalisation in Asean
KUALA LUMPUR, May 25 — Malaysia is hopeful the upgraded Asean Trade in Goods Agreement (ATIGA) will help to liberalise further the region's financial services sector, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said. The enhanced agreement, which is expected to be signed in October this year, will go beyond trade in goods to include critical services sectors such as energy, communications and financial services, he told Bernama here today in an exclusive interview. 'These sectors are all, understandably, (where) each country will have its position when it comes to investments in strategic sectors,' he said. He said non-tariff barriers (NTBs), particularly in financial services and banking, continue to impede trade within Asean. 'In trade, more or less, we have liberalised already, but investment in strategic sectors will take flexibility for Asean countries to understand each other's position, especially when most countries also have to think of their strategic national interests,' he said. In addition, Tengku Zafrul said the Asean Digital Economy Framework Agreement (DEFA), which is expected to be concluded by the end of 2025, will be a more inclusive trade ecosystem. 'Intra-Asean trade is at 20 per cent to 24 per cent. I don't believe that we can't do more. That's why the upgraded ATIGA is important and we also have the DEFA that we want to conclude, which will be more inclusive,' he said. As for NTBs in Asean, there are always countries that put in their positions when it comes to protecting their markets and industries, and financial services are one of them. 'Malaysia, of course, has slowly been liberalising and we don't have that condition anymore, unless it's subject to national interest (such as involving) insurance companies,' he said. While NTBs are a challenge, Tengku Zafrul said a bigger obstacle lies in making regional trade more accessible to micro, small and medium enterprises (MSMEs), which make up 99 per cent of Asean's business landscape. He highlighted the importance of inclusive trade policies and support mechanisms such as capacity building, financial assistance and awareness programmes to help MSMEs access regional markets. — Bernama
Zawya
19-05-2025
- Business
- Zawya
Saudi offers $13bln projects at investment forum
Saudi Arabia has offered projects worth nearly 50 billion Saudi riyals ($13 billion) at an investment forum it held last week in the Northwestern Hail city. The Investment Ministry offered nearly 100 projects to investors during the event, which attracted a large number of investors and other representatives of the private sector. 'These projects were presented at the Hail investment forum and they can be accessed online at the Ministry's website,' Investment Minister Khalid Al-Falih said. The projects cover a variety of sectors, including industry, farming, tourism and sport, he said, adding that they are part of an investment push by Saudi Arabia with its Vision 2030 for economic diversification. (Writing by Nadim Kawach; Editing by Anoop Menon) (
Leaders
18-05-2025
- Business
- Leaders
Hail Region Seals SR8.5 Billion Investment Deals to Spur Growth
Saudi Arabia's Hail region has secured investment agreements worth SR8.5 billion ($2.27 billion) during its flagship investment forum, advancing the Kingdom's push to unlock regional growth and attract private capital. Spanning agriculture, mining, tourism, and logistics, these agreements form part of a broader SR50 billion portfolio of opportunities unveiled at the event. Vision 2030 Fuels Regional Diversification Saudi Arabia now prioritizes untapped potential in smaller regions, luring investors to diversify beyond urban hubs, which aligns with Saudi Vision 2030's goals for a resilient, inclusive economy. The Emir of Hail witnessed the launch of SR8.5 billion in partnerships between government agencies and investors to boost economic growth. Governor Prince Abdulaziz bin Saad emphasized Hail's strategic advantages, including its connectivity across five regions, fertile land, and infrastructure development. Organized under the theme 'Be Part of the Promising Future,' the forum attracted leaders like Investment Minister Khalid Al-Falih and Deputy Environment Minister Mansour Al-Mushaiti. Over 125 investment opportunities, including 14 strategic projects worth SR34.2 billion, aim to empower local businesses. Agricultural Investments Take Center Stage Al-Mushaiti hailed Hail as a prime agricultural hub, citing SR7 billion in funding from the Agricultural Development Fund. The region now contributes over 10% of Saudi Arabia's agricultural GDP. Notably, Hail launched the Middle East's largest trout salmon project, targeting a 50% import reduction and SR5 billion in sales within a decade. Furthermore, new red meat investments will raise self-sufficiency to 61%, while a poultry project expanded to SR11 billion with a recent SR4.5 billion injection. The Saudi Reef program has allocated SR800 million to support local farmers, alongside SR1.2 billion in water and environmental projects under the Saudi Green Initiative. Al-Falih highlighted Hail's SR1.44 billion in foreign investment, with 177 licenses issued to global firms. Over 100 opportunities worth SR50 billion are now on the 'Invest Saudi' platform. A new MoU between the Investment Ministry and Hail Region Development Authority will streamline sustainable growth efforts. The forum also featured nine panel sessions covering 42 investment themes, focusing on tourism, quality of life, agriculture, logistics, energy, and education. Short link : Post Views: 2
Zawya
12-05-2025
- Business
- Zawya
Jordan: Jincheng ceramics launches $100mln expansion, creating over 1,000 jobs
AMMAN — Jincheng International Trading Company's Ceramics Factory on Saturday announced a new investment of $100 million to establish complementary industries alongside its existing operations in Jordan. The investment includes the production of 14 new product lines across various sectors, primarily relying on locally sourced raw materials. The expansion is expected to generate over 1,000 job opportunities, according to the Jordan News Agency, Petra. The announcement was made during the opening of the company's new exhibition, attended by Investment Ministry Secretary General Zaher Qatarneh. In his remarks, Qatarneh reaffirmed the government's commitment to supporting both local and foreign investments and to providing an enabling environment that encourages expansion within Jordan and beyond. He underscored the importance of high-value-added industries that depend on local production inputs and contribute to job creation for Jordanians. Qatarneh commended Jincheng's efforts to enhance its industrial footprint in the Kingdom, adding that such initiatives reflect the confidence of global investors in Jordan's investment climate and reinforce the country's role as a regional hub for industrial development and innovation. Jincheng's CEO expressed appreciation for Jordan's investment environment and the continued support of the Investment Ministry in facilitating the company's operations. He noted that Jincheng's cumulative investments in Jordan have reached $300 million, and its factories currently employ 620 Jordanians. Around 80 per cent of the raw materials used in its operations are sourced locally, he added. The company's new product lines will include tile adhesives, gilded tiles, stair tiles, sanitary ware, lighting fixtures, mattresses and accessories, stainless steel products, cardboard, kitchen and bathroom cabinets, sinks, faucets, batteries, and ceramics. © Copyright The Jordan Times. All rights reserved. Provided by SyndiGate Media Inc. (
Egypt Independent
22-04-2025
- Business
- Egypt Independent
Egypt, Czech Republic discuss boosting economic, trade cooperation
Minister of Investment and Foreign Trade Hassan al-Khatib has discussed in a meeting with Czech Ambassador in Cairo Ivan Jukl ways of fostering economic and trade cooperation between Egypt and the Czech Republic. During the meeting, Khatib highlighted the depth of relations, underlining the importance of increasing joint investments and establishing partnerships between the public and private sectors in both countries, according to a statement released by the Investment Ministry on Monday. The minister said the Egyptian government gives priority to luring investments in advanced technology, with a view to achieving sustainable development and providing decent and productive jobs. Khatib added he plans to visit the Czech Republic soon along with an official delegation that comprises representatives of the Egyptian business community, to inform the Czech side about the recent reforms aimed at improving the business climate in Egypt. The minister stated Egypt targets enhancing its trade competitiveness to become one of the top 50 global economies in the field of commerce, by reducing customs clearance time and costs and activating the World Trade Organization instruments to protect the national industry. On his part, the Czech ambassador lauded the Egyptian State's vision for boosting foreign trade and encouraging investments, expressing his country's willingness to share experience with Egypt in bringing about economic and institutional transformation, reducing unemployment rates and supporting innovation and technology. Jukl added Egypt enjoys competitive advantages, citing the tax policy that helps the country to be an attractive destination for non-labor-intensive investments, noting Czech companies seek to expand their presence in promising markets, such as Egypt. The pair agreed on the significance of activating the joint business council and holding a forum bringing together business representatives from the public and private sectors in both countries to strengthen investment partnerships and expand bilateral cooperation.
