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Korea Herald
a day ago
- Automotive
- Korea Herald
Malaysia optimistic about ties with Lee Jae Myung administration: envoy
FTA at final stage, says envoy, calling on Korean firms to tap halal market and diversify across ASEAN Malaysia is committed to fulfilling the economic and strategic pledges of Korean companies made during the visit of Prime Minister Datuk Seri Anwar Ibrahim to South Korea last year, said Malaysian Ambassador to Korea Dato Lim Juay Jin Khalid in a recent interview with The Korea Herald. Ibrahim stressed the need for the two countries to uphold their commitment to continued cooperation following the start of the Lee Jae Myung administration in June. 'We're looking forward to working closely with the Lee Jae Myung administration," Khalid told The Korea Herald, describing the strategic partnership as more than transactional. He noted that Malaysia was one of the first countries President Lee engaged with, pledging with his counterpart to deepen ties. The nearly finalized Malaysia–Korea FTA is expected to be signed by year's end, boosting trade and regional connectivity. Lee spoke by phone with Malaysian Prime Minister Anwar Ibrahim on June 23, making Ibrahim the seventh leader to speak with the new South Korean president. Malaysia and South Korea upgraded their ties to a strategic partnership in 2024 to deepen cooperation in ESG-based investment, digital and green tech, and the halal ecosystem. Both sides aim to conclude an FTA by 2025 to benefit businesses and SMEs and boost the digital economy, bioeconomy and supply chain resilience. Bringing up the combined $7.6 billion in investment pledges by Korean companies, according to Malaysia's Ministry of Investment, Trade and Industry, Khalid stressed that realizing the pledges depends heavily on South Korea's political stability under the Lee administration, implying that without it, major bilateral agreements risk stalling. Hyundai Motor plans to invest nearly $480 million from 2025 to upgrade its Malaysia plant with partner Inokom, boosting production of MPVs, minivans and SUVs. Starting at 20,000 units annually, the Korean auto giant aims to serve Malaysia and Southeast Asia to support the growth of the local electric vehicle ecosystem. 'After the visit, I have been working very hard to ensure that these pledges are realized by the companies,' he said, referring to expectations that political stability under the new Lee administration will lead to the fulfillment of pledges and bilateral agreements. With over 400 Korean companies operating in Malaysia across various sectors, Khalid said, 'We definitely encourage Korean companies to diversify investment destinations.' He considers Malaysia a halal hub for South Korean exports globally, not just to countries with large Muslim populations. 'Many Korean companies are still unaware of this potential,' he pointed out, highlighting Malaysia's strength in the financial sector and the potential for joint ventures. Khalid said he hopes for the adoption of the Comprehensive Plan of Action for the ASEAN–South Korea Comprehensive Strategic Partnership agreed at the ASEAN Ministerial Meeting, calling it 'another key milestone.' 'We believe development should be both inclusive and sustainable,' he said, citing Malaysia's 2025 ASEAN chairmanship and its theme of 'Inclusivity and Sustainability." 'We want ASEAN to be an environmentally safe zone, and we're keen to work with South Korea on this,' he said, referencing the ASEAN Community Vision 2045 and encouraging Korean companies to play active roles in maritime security, climate resilience, digital connectivity and green technology. The envoy also cited cultural exchange and ASEAN links as a growing priority. 'I want Malaysians' culture, food and values to be more familiar to Korean society,' Khalid said, noting tourism potential in regions such as Sabah, Sarawak, Malacca, Kuala Lumpur and his home state of Terengganu. sanjaykumar@
Daily Tribune
4 days ago
- Business
- Daily Tribune
UAE Reinforces Global Role in Sustainable Development at UN Forum in New York
The United Arab Emirates reaffirmed its strong commitment to sustainable development on the world stage at the United Nations High-Level Political Forum (HLPF) on Sustainable Development held in New York. The country's delegation showcased a wide range of forward-looking initiatives, partnerships, and preparations for its next national review in 2026, with a clear message: human development and innovation are at the heart of its vision for the future. Representatives from several key UAE government bodies and organizations took part in the forum, including the Ministry of Cabinet Affairs, Ministry of Interior, Ministry of Investment, Environment Agency – Abu Dhabi, Noor Dubai Foundation, and Dubai Chambers. Their presence demonstrated the country's unified approach to achieving the Sustainable Development Goals (SDGs) and fostering global partnerships. Pushing Forward with Innovation and Collaboration Leading the delegation, His Excellency Abdulla Nasser Lootah, Assistant Minister of Cabinet Affairs and Chair of the National Committee on SDGs, emphasized the UAE's unique model of innovation and international cooperation. He introduced new initiatives like the 2045 XDGs Report, a vision for development beyond 2030, and GEEP, a program promoting global collaboration. 'We are committed to building a sustainable, inclusive future through innovation and strong partnerships,' HE Lootah said. 'Our efforts aim to tackle key global challenges like healthcare, economic development, biodiversity, and international stability.' He also confirmed that preparations are underway for the 2026 Voluntary National Review (VNR), which will track the UAE's progress on the SDGs. The review will involve input from government, business, and civil society, reflecting the nation's dedication to transparency and teamwork. A Global Platform for Shared Progress The UAE also used the forum as a platform to showcase its global leadership. Events like the "Shaping Tomorrow: UAE Leadership for a Sustainable Future" exhibition and special sessions by GEEP helped build connections with nearly 50 countries and six international organizations. The launch of the 2045 XDGs Report stood out as a major moment, offering fresh insights and a long-term roadmap to build on the momentum of the current SDGs. This aligns with the UAE's belief that sustainable development requires both innovation and international dialogue. Addressing Key Issues: Gender, Youth, and the Environment The UAE also hosted sessions that tackled some of today's most pressing topics, including gender equality, child welfare, and digital inclusion. Discussions emphasized the role of women's leadership in driving sustainable development and the need to close the digital gender gap. The Ministry of Interior presented the Green Shield Operation, a cross-border environmental initiative to protect biodiversity in the Amazon Basin — a clear sign of the UAE's global responsibility beyond its borders. Looking Ahead The UAE is also preparing to host the UN Water Conference in December 2026, continuing its efforts to champion environmental and water sustainability. Over the course of the forum, the UAE held 48 bilateral meetings and participated in sessions like Science Day, further reinforcing its position as a leader in global cooperation. A Message to the World The HLPF serves as the UN's central platform for reviewing progress on the SDGs. For the UAE, it was an opportunity to show that sustainable development is not just a goal, but a way of working—through innovation, inclusion, and international partnership.
Saudi Gazette
7 days ago
- Business
- Saudi Gazette
Saudi Arabia to unveil SR21 billion investment deals at Damascus forum
Saudi Gazette report DAMASCUS — A high-level Saudi delegation led by Minister of Investment Khalid Al-Falih arrived in Damascus on Wednesday ahead of the Saudi-Syrian Investment Forum, set to take place Thursday, marking a significant step toward restoring economic cooperation between the two countries. The visit, conducted under the directive of Crown Prince Mohammed bin Salman, includes the participation of more than 150 Saudi businessmen and investors. It reflects the Kingdom's growing commitment to supporting Syria's economic recovery through direct engagement and private sector involvement. The Ministry of Investment, in coordination with the Federation of Saudi Chambers, is leading efforts to enable Saudi businesses to participate in reconstruction and development opportunities across Syria. The forum is expected to witness the announcement of investment agreements worth SR21 billion across 11 key sectors. These include real estate, infrastructure, information and communications technology, transportation, industry, tourism, energy, trade and investment, healthcare, human resources, and financial services. According to sources, the deals will include residential and commercial developments in cities such as Damascus and Homs, the construction of cement and gypsum factories to support local industry, and advanced digital infrastructure projects that will help modernize Syria's communications systems and data capabilities. Further agreements will address energy generation, hospital rehabilitation, pharmaceutical manufacturing, vocational training, and the revitalization of Damascus International Airport in line with international standards. In addition, financial sector agreements will focus on enabling fintech collaboration, dual listings, and sustainable investment initiatives. The forum will also serve as a platform for 38 memorandums of understanding to be signed between Saudi and Syrian stakeholders. More than 150 Saudi representatives from both public and private sectors are expected to attend, alongside over 400 participants from Syria. The event is seen as a pivotal moment in reviving bilateral ties and fostering a new era of trust, economic partnership, and joint development. Saudi officials have emphasized that the initiative aligns with the vision of Crown Prince Mohammed bin Salman to promote regional prosperity through strategic investment and cooperation. The Ministry of Investment said the forum embodies Saudi Arabia's belief in investment as a tool for peace, stability, and mutual growth—contributing to the rebuilding of Syria while reinforcing the Kingdom's role in leading regional development and integration under Vision 2030.
Saudi Gazette
7 days ago
- Business
- Saudi Gazette
Saudi Arabia to unveil SR19 billion investment deals at Damascus forum
Saudi Gazette report DAMASCUS — A high-level Saudi delegation led by Minister of Investment Khalid Al-Falih arrived in Damascus on Wednesday ahead of the Saudi-Syrian Investment Forum, set to take place Thursday, marking a significant step toward restoring economic cooperation between the two countries. The visit, conducted under the directive of Crown Prince Mohammed bin Salman, includes the participation of more than 150 Saudi businessmen and investors. It reflects the Kingdom's growing commitment to supporting Syria's economic recovery through direct engagement and private sector involvement. The Ministry of Investment, in coordination with the Federation of Saudi Chambers, is leading efforts to enable Saudi businesses to participate in reconstruction and development opportunities across Syria. The forum is expected to witness the announcement of investment agreements worth SR19 billion across 11 key sectors. These include real estate, infrastructure, information and communications technology, transportation, industry, tourism, energy, trade and investment, healthcare, human resources, and financial services. According to sources, the deals will include residential and commercial developments in cities such as Damascus and Homs, the construction of cement and gypsum factories to support local industry, and advanced digital infrastructure projects that will help modernize Syria's communications systems and data agreements will address energy generation, hospital rehabilitation, pharmaceutical manufacturing, vocational training, and the revitalization of Damascus International Airport in line with international addition, financial sector agreements will focus on enabling fintech collaboration, dual listings, and sustainable investment forum will also serve as a platform for 38 memorandums of understanding to be signed between Saudi and Syrian than 150 Saudi representatives from both public and private sectors are expected to attend, alongside over 400 participants from event is seen as a pivotal moment in reviving bilateral ties and fostering a new era of trust, economic partnership, and joint officials have emphasized that the initiative aligns with the vision of Crown Prince Mohammed bin Salman to promote regional prosperity through strategic investment and Ministry of Investment said the forum embodies Saudi Arabia's belief in investment as a tool for peace, stability, and mutual growth—contributing to the rebuilding of Syria while reinforcing the Kingdom's role in leading regional development and integration under Vision 2030.
Tourism Breaking News
23-07-2025
- Business
- Tourism Breaking News
UAE showcases impact of global development intiatives advancing SDGs at UN forum
Post Views: 53 The UAE presented the results of its global development initiatives supporting SDG8 during its participation in the 2025 UN High-Level Political Forum (HLPF), reaffirming its commitment to promoting inclusive economic growth and decent work worldwide. Organised by the United Nations Department of Economic and Social Affairs at UN headquarters in New York City, this year's forum is held under the theme 'Advancing sustainable, inclusive, science- and evidence-based solutions for the 2030 Agenda and its Sustainable Development Goals for leaving no one behind.' The UAE's participation reflects its commitment to a development model rooted in sustainability, opportunity creation, and international partnerships that advance the 2030 Agenda. The discussion focused on mobilising private sector investment to advance sustainable and inclusive growth. Participants also explored solutions to address global skill gaps and reconfigure international trade frameworks to support development. Furthermore, the UAE delegation hosted two thematic panels. The first, 'Economic Diplomacy in Action,' examined how diplomacy can foster economic resilience and stability in alignment with SDG8. The second, 'Vision into Action,' explored policy frameworks that support SDG16 on peace, justice, and strong institutions. H.E. Lootah, said the UAE's model for economic growth is shaping the future of work and creating opportunities for new generations at home and abroad. He added that the UAE has succeeded in building a balanced and diversified economic model grounded in inclusiveness and sustainability, positioning the country as a key contributor to continuous development efforts and solutions to current and future challenges in line with the 2030 Agenda and beyond. H.E. Lootah emphasised that the importance of establishing global consensus around sustainable economic concepts and future work patterns, especially in the context of setting new global development goals beyond 2045 (XDGs). He noted that the UAE delegation's participation in the 2025 High-Level Political Forum aligns with this goal, aiming to strengthen partnerships and exchange expertise through strategic initiatives led by the Government Experience Exchange Programme, along with contributions from leading national entities driving inclusive and sustainable development globally. H.E. AlHawi, emphasised that the country's investment approach is centred on strategic partnerships that foster innovation and long-term growth. This approach is focused on delivering measurable outcomes and lasting impact to support inclusive development, expand economic opportunities, and contribute to broader social advancement. H.E, AlHawi said: 'The UAE is a land of opportunity. We empower youth, entrepreneurs, innovators, and researchers. Under the leadership of the UAE government, the Ministry of Investment supports transformative global investment flows – not only to foster innovation, but to cultivate talent, expand opportunity, and drive sustainable development. This vision has become reality, reflecting the UAE's commitment to building an integrated ecosystem that supports innovation and enables impactful partnerships. Through an agile regulatory framework, we aim to ensure continued private sector growth in line with the nation's goal of building a resilient, future-ready economy.' The HLPF on Sustainable Development is the UN's central platform for reviewing and advancing SDGs. Established in 2012, the forum plays a pivotal role in monitoring national and international progress on the 2030 Agenda. Participating delegations at HLPF conduct assessments of progress toward the SDGs, with this year's forum featuring in-depth reviews of five priority goals: SDG3 (ensuring healthy lives and promoting well-being for all at all ages); SDG5 (achieving equality and empowering all women and girls); SDG8 (promoting sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all); SDG14 (conserving and sustainably using the oceans, seas and marine resources for sustainable development); and SDG17 (strengthening and revitalising the Global Partnership for Sustainable Development).
