Latest news with #MDG
India Gazette
03-06-2025
- Business
- India Gazette
Uttarakhand: CM Dhami attends review meeting on ropeway project developments
Dehradun (Uttarakhand) [India], June 3 (ANI): Uttarakhand Chief Minister Pushkar Singh Dhami on Tuesday attended a review meeting with Union Road Minister Nitin Gadkari on the ropeway project developments in the state. Earlier in the day, Dhami praised Gadkari and said there was no better teacher than him. Addressing the convocation ceremony of the Graphic Era Deemed University in Dehradun, Dhami stated that under the leadership of Prime Minister Narendra Modi, the state had been working towards becoming a leader in education. 'If you want to learn the art of project management, then there can be no better teacher than Gadkari ji... His speciality is completing very important projects at a low cost. You have won the hearts of the people by building a network of roads from small villages to remote hilly areas of the state,' Dhami stated. 'Under the leadership of PM Narendra Modi, our state government is working to make Uttarakhand a leader in education, like other regions. Machine learning, AI and big data courses are being conducted in colleges. Scientific research is being promoted in the state,' Dhami further added. In March, the Union Cabinet approved the construction of a ropeway project from Govindghat to Hemkund Sahib Ji in Uttarakhand. The 12.4-kilometre project will be developed at a total capital cost of Rs 2,730.13 crore. Currently, the journey to the Hemkund Sahib Ji is a challenging 21-km uphill trek from Govindghat, which can be done on foot, with ponies or palanquins. The proposed ropeway is planned to provide convenience to pilgrims visiting the Hemkund Sahib Ji and tourists visiting the Valley of Flowers. It will also ensure all-weather last-mile connectivity between Govindghat and Hemkund Sahib Ji. The ropeway is planned to be developed in a public-private partnership and will be based on a Monocable Detachable Gondola (MDG) from Govindghat to Ghangaria (10.55 km), seamlessly integrated with the most advanced Tricable Detachable Gondola (3S) technology from Ghangaria to Hemkund Sahib Ji (1.85 km). Its design capacity is 1,100 passengers per hour per direction (PPHPD), carrying 11,000 passengers per day. The ropeway project will also generate substantial employment opportunities during construction and operations, as well as in allied tourism industries like hospitality, travel, food & beverage (F&B) and tourism throughout the year. (ANI)
New Straits Times
06-05-2025
- Business
- New Straits Times
Industry experts applaud govt's quick action on US tariffs
KUALA LUMPUR: Industry experts have welcomed the government's swift action in response to the United States' sudden imposition of reciprocal tariffs. The RM50 million allocation to the Malaysia External Trade Development Corporation (Matrade) is seen as a timely move to boost trade resilience and help exporters explore new market opportunities. Federation of Malaysian Manufacturers (FMM) president Tan Sri Soh Thian Lai said the initiative reflects the government's urgency in protecting Malaysian exporters from external shocks. It also signals a broader push to strengthen Malaysia's economic agility amid mounting global trade uncertainties. Soh said the additional funding for Matrade, aimed at supporting export efforts in regions such as the Gulf Cooperation Council, BRICS nations, South Africa and Latin America, is a timely and strategic move to diversify market exposure. "FMM has consistently called for targeted market access strategies as well as stronger backing for trade missions and export promotion initiatives in regions beyond Malaysia's traditional export partners. "These efforts are especially critical in the current climate, where many exporters are urgently repositioning away from the US market in response to tariff-related uncertainties," he said. According to Soh, the FMM's recent survey found that over half of the respondents are actively pursuing market diversification as a key strategy. To maximise the impact of this funding, he said it must be accompanied by more effective and responsive instruments particularly enhancements to the Market Development Grant (MDG). In addition to better supporting small and medium enterprises, Soh said the MDG framework should also empower trade associations such as FMM to organise targeted export missions and activities tailored to industry needs. "This includes raising funding caps for association-led missions, waiving the RM25,000 collaboration fee for partnering with Matrade and expanding eligible activities to include product adaptation, certification, digital marketing and market research. "Enabling associations to play a more proactive role in export promotion will significantly strengthen the reach and help businesses capitalise on new opportunities in non-traditional markets," he said. However, economist Dr Geoffrey Williams cautioned that while the government's allocation to the Matrade is a welcome move, it is only a modest measure in the broader effort needed to cushion Malaysian exporters from the fallout of the US' reciprocal tariffs. "The RM50 million allocation is small, but it will help cover some costs for a limited number of exporters. "Pivoting to new markets requires more than funding, but it demands identifying viable customers, building new supply chains, and navigating each country's trade regulations," he told the Business Times. Williams said over half of Malaysia's exports to the US come from the electrical and electronics sector, which remains largely unaffected by the new tariffs. However, industries such as iron and steel could face significant exposure if no bilateral resolution is achieved. He stressed that the government's emphasis on long-term market diversification is the right approach. "Markets like the European Union come with their own trade barriers, so looking to Asean, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, Regional Comprehensive Economic Partnership and Organisation of Islamic Cooperation countries, especially for halal goods, may offer more realistic alternatives," he said. Meanwhile, Williams said structural reforms will be needed to reduce Malaysia's reliance on any single export market. "If the outcome of this crisis leads to a more liberal global trade environment, Malaysia can come out stronger. But this will require patience, consistency and smarter policy execution," he added.
Barnama
05-05-2025
- Business
- Barnama
ACCIM SEES CORDIAL TALKS AS KEY TO FAIR, BALANCED MALAYSIA-US TRADE DEAL
BUSINESS KUALA LUMPUR, May 5 (Bernama) -- The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) believes that continued cordial negotiations between the Malaysian and United States (US) governments can lead to a fair and balanced trade deal. ACCCIM president Datuk Ng Yih Pyng said in a statement today that such a deal would deepen Malaysia-US bilateral trade and investment through enhanced market access and reduced tariffs. 'There is no reason to inflict severe economic damage on businesses from both countries, particularly those sectors and industries that have significant market presence in the US and vice versa,' he said. Ng also said the association suggested that the government increase the amount of Market Development Grant (MDG), which currently stands at RM5,000 for international fairs or exhibitions held in Malaysia and RM25,000 for those held overseas. He added that ACCCIM supports efforts to engage in more free trade agreements (FTAs), including resuming the FTA negotiations with South Korea and the European Union (EU). Ng said that with many countries now facing an extraordinary wall of tariffs, many micro, small and medium enterprises (MSMEs) have expressed concern that more products from Malaysia's trading partners may be dumped into the local market, weakening domestic industries. 'The flooding of foreign goods would nonetheless increase competitive pressure on domestic MSMEs, particularly in sectors such as trading, retailing, furniture, iron and steel, consumer durables, and e-commerce, where margins are already tight,' he said. Ng added that the association has proposed a multifaceted approach to curbing 'rebadged' products. Among the suggestions are enhanced customs inspections and enforcement using risk-based profiling and targeted checks, focusing on sectors or products with high tariff differentials. The approach includes mandating stricter verification and compliance of the Certificate of Origin and Rules of Origin to prevent 'renegade product' activities at ports.
Yahoo
11-02-2025
- Business
- Yahoo
Work to resume on $23M affordable housing project in Spartanburg
SPARTANBURG, S.C. (WSPA) – A Spartanburg-based multi-million dollar affordable housing project has resumed after years of being on a hiatus. The $23 million Northside neighborhood project, once completed, would create more living spaces for residents in the City of Spartanburg. According to Montgomery Development Group, the project started the second phase of work last week, which involves building 86 two-story and three-story townhomes around in the city's northside neighborhood. 'The Northside lacks in quality housing options, so we're providing more housing for the people that live, grew up and live here in the Northside at an affordable rate,' said John Montgomery, CEO of MDG. City officials says the resumption of the second phase of construction has been highly anticipated. The first phase wrapped up in 2021 with 47 townhomes now sitting on Milan Street. 'More mixed income housing in that area is huge for us and really huge for the neighborhood as well,' said Christopher George, City of Spartanburg's Communications Manager. A common rule of thumb is to spend no more than a third of your annual income on housing expenses. According to Zillow, Spartanburg townhome renters pay on average, $19,500 annually, almost half of the $52,688 median income for a one person household in Spartanburg. Montgomery said the community will offer 3-bedroom, 3-1/2 bathroom and 3-bedroom, 2-1/2 bathroom units. Some residents said the development is welcomed. 'I think its important that you have to continue to grow with the times, and a part of that is getting people to live in the area that you're in and you can't do that without affordable housing,' said Seth Brech, a Spartanburg resident who moved from Texas about half-a-year ago. Edward Via College of Osteopathic Medicine student Shadika Panta believes rent in Spartanburg is too high for someone without a steady annual income like herself. 'I'm surprised about how expensive it was here,' said Panta. 'I mean it's a big city, but not big, big [like my hometown of Milwaukee].' Montgomery said he expects the homes to be completed by the end of Summer 2026, with residents able to move in by the end of 2026 or the first quarter of 2027. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
