Latest news with #Miti
New Straits Times
2 days ago
- Business
- New Straits Times
Vape device interim licence issued by Miti
KUALA LUMPUR: The Health Ministry has clarified that a recent interim licence for manufacturing nicotine-based vape devices was issued by the Investment, Trade and Industry Ministry (Miti). The licence was granted through the Malaysian Investment Development Authority (Mida) under the Industrial Coordination Act 1975 and local licensing laws. This comes after media reports said a Nasdaq-listed company from the United States had received Malaysia's first federal licence to produce nicotine products. The Health Ministry explained that while Miti issues manufacturing licences, the production, import, and sale of nicotine liquids are regulated under the Control of Smoking Products for Public Health Act 2024 (Act 852). Section 2 of the Act defines nicotine liquids—including substances like nicotine, propylene glycol, glycerol, and triethylene glycol—as smoking products. These products can be sold in Malaysia, but they are strictly regulated. The ministry said it is responsible for monitoring the contents and emissions of these products to protect public health. "The regulation of these smoking products also involves other government agencies, including an import control by the Customs Department through restrictions covering raw materials and finished goods under the Customs (Prohibition of Imports) Order 2008. "Among others, device safety standard testing by Sirim, enforced under the Trade Descriptions (Certification and Marking) of Electronic Cigarette Devices (Vape Device) Order 2022 under the Trade Descriptions Act 2011, under the purview of the Domestic Trade and Cost of Living Ministry," the statement read. The Health Ministry stressed that all decisions on vape liquid production and sales are made jointly by relevant authorities and reaffirmed its commitment to strong enforcement and public health safety.
The Star
5 days ago
- Business
- The Star
Malaysia aims to be top logistics hub
Putting plans in action: Tengku Zafrul (second from left) at the groundbreaking ceremony of the SCC MY project in Bukit Raja, Klang. — KK SHAM/The Star KLANG: Malaysia is now one step closer to its dream of becoming Asean's premier logistics and trade hub with the groundbreaking of the Supply Chain City Malaysia (SCC MY) project, says Tengku Datuk Seri Zafrul Abdul Aziz. To be built by Singapore-based supply chain and logistics conglomerate YCH Group in partnership with Sime Darby Property, the RM500mil valued project will see the construction of a modern smart logistics facility in Bandar Bukit Raja. The Investment, Trade & Industry Minister (Miti) said SCC MY will include state-of-the-art automation and AI-driven logistics systems, almost never seen before in the country. 'Combined with planned sustainability solutions, this project is set to accelerate industrial transformation through advanced supply chain solutions and logistics innovation. 'This facility will elevate Malaysia's logistics industry to a new level of global competitiveness,' he said in his speech at the project's groundbreaking ceremony here yesterday. Tengku Zafrul also revealed that the project will help train local talent for these automated systems with the integration of Singapore's LEARN ecosystem through collaboration with Singapore's Supply Chain and Logistics Academy (Scala). 'This will ensure our local hired talents are equipped with higher-end skills while future-proofing our supply chain ecosystem,' he said. Tengku Zafrul also said SCC MY is the first project under the New Industrial Master Plan 2030 (NIMP 2030) and is a testament to increasing regional cooperation in Asean. 'This project embodies the spirit of innovation, collaboration and resilience that defines our nation and the region while also being a testament to our commitment to fostering sustainable growth and regional integration. 'The government, through Miti and other relevant agencies, stands ready to support this endeavour and ensure its success,' he added. YCH Group executive chairman Robert Yap said SCC MY would set new standards of logistics excellence in the country. 'We are dedicated to training local talent, empowering them with essential skills to support Malaysia's journey to become a preferred destination for global businesses,' he said. Yap also revealed that the project will integrate sustainable solutions to its operations like renewable energy through the use of solar panels across its entire rooftop of the facility. He added that YCH will also look to invest in local start-ups and help integrate them into SCC MY's planned logistics ecosystem. Sime Darby Property group managing director and chief executive officer Datuk Seri Azmir Merican said the project will strengthen and bring much needed innovation to local supply chain infrastructure. 'YCH brings a strong regional portfolio that will strengthen Bandar Bukit Raja as a strategic point in the regional supply chain network. 'This project is a timely example of much-needed cross-border collaboration, aligning with the region's shared focus on economic integration, sustainable and inclusive growth. 'Through our collaboration, we hope to strengthen trade linkages, support innovation and contribute meaningfully to broader regional priorities,' he said.
New Straits Times
27-05-2025
- Business
- New Straits Times
Anwar: Asean deepens global ties in most substantive summit yet
KUALA LUMPUR: The 46th Asean Summit and Related Summits represent one of the most substantive milestones in Asean's history, says Prime Minister Datuk Seri Anwar Ibrahim. Anwar, who is also Asean Chairman, said the summit successfully achieved its objectives, attributing the outcome to the strong support and unity among Asean leaders, as well as the bloc's first meaningful engagement with the Gulf Cooperation Council (GCC) and China. "The inaugural meeting in Riyadh was more of a formality, serving primarily to introduce the programme. However, this time around, there were a series of sessions and in-depth discussions, culminating in a highly detailed and comprehensive joint statement. "Equally significant was the presence of Chinese Premier Li Qiang," he said at a press conference held in conjunction with the 46th Asean Summit in Kuala Lumpur. Also in attendance were Foreign Minister Datuk Seri Mohamad Hasan and Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz. Anwar said that even on contentious matters such as Myanmar, a fundamental understanding had been reached. Agreements were also made regarding tariffs and collaborative joint projects. He credited the success of the summit to the exceptionally thorough and commendable preparations undertaken by the ministers and the Foreign Ministry. "Credit must also be given to the minister and staff of Miti, as well as other ministries, including Home, Economy, Finance, and Tourism. "We have delivered one of the most substantive Asean Summits in history, alongside meaningful discussions with the GCC," Anwar said. He expressed hope that progress would be made on all issues discussed ahead of the 47th Asean Summit in October. "We must do whatever is necessary — finalising free trade agreements (FTAs) with the GCC, pursuing an FTA with the European Union (EU), enhancing economic ties and promoting intra-Asean trade. All of these require concrete action. By October, we aim to see real, measurable outcomes. "These discussions are not merely symbolic declarations, but are aimed at driving tangible changes that benefit ordinary citizens. "I can genuinely sense it. There is a substantial — perhaps even dramatic — shift in attitude. We are determined to act, and everything must be done in the spirit of Asean," he said. Under the theme 'Inclusivity and Sustainability', the 2025 edition marks Malaysia's fifth term as Asean Chair, following previous chairmanships in 1977, 1997, 2005, and 2015. Held in Kuala Lumpur on May 26 and 27, the 46th Asean Summit was accompanied by the second Asean-GCC Summit and the inaugural Asean-GCC-China Summit, which also took place earlier today.
Malay Mail
26-05-2025
- Business
- Malay Mail
Miti: Shorter five-year Asean economic plan allows faster response to global shifts
KUALA LUMPUR, May 26 — The Asean Economic Community (AEC) Strategic Plan 2026-2030, which has a shorter cycle of five years rather than previous plans with cycles of 10 years, will enable timely review and updates of strategic measures so that integration efforts between member states remain relevant, agile and responsive to emerging and unforeseen future developments. 'As such, the AEC Strategic Plan from 2026-2030 adopts a five-year timeframe,' the Ministry of Investment, Trade and Industry (Miti) said in a document on the strategic plan. Although a 10-year timeframe provides a broader and long-term perspective for guiding Asean's economic integration, the implementation of the AEC Blueprint 2025 during the 2016-2025 period highlighted the need for greater flexibility and responsiveness amid fast-changing geopolitical shift and economic condition, the ministry said. 'A decade-long review cycle can limit the AEC's ability to recalibrate priorities in response to continuously evolving political and economic landscape,' it said in the frequently asked questions (FAQ) document released here. During a pre-media briefing earlier, Miti Minister Tengku Datuk Seri Zafrul Aziz described the economic blueprint as timely, highlighting three pertinent points, namely increasing intra-trade between member states, Asean openness extending beyond traditional trading partners and readiness of members towards reforms. While continuing the region's integration efforts, Miti said, the new plan introduces several notable enhancements that differentiate it from its predecessor, including consideration of megatrends, reframing regional economic integration, elevated role of micro, small and medium enterprises (MSMEs) as drivers of economic growth, and stronger emphasis on digital and technology transformation. 'The AEC Strategic Plan 2026-2030 reflects a heightened level of ambition in driving Asean's digital and technological transformation. It adopts a more integrated and strategic approach, treating digitalisation not as a standalone issue, but as a cross-cutting enabler of growth, competitiveness, and resilience across all sectors. 'The plan places strong emphasis on strengthening regional digital infrastructure, expanding digital connectivity, and fostering innovation as key drivers of Asean's future economy. This forward-looking agenda positions Asean to lead and compete effectively in an increasingly digital global landscape,' the ministry said. Furthermore, with negotiations on the Digital Economy Framework Agreement (DEFA) expected to be finalised by the year-end, it can be considered as a landmark agreement as it is the world's first regional digital economy agreement. As for MSMEs, Miti said that given their significant presence across Asean economies, the plan positions them not only as beneficiaries of integration, but also as active drivers of sectoral cooperation, innovation and the internationalisation of regional products and services. 'This marks a shift toward a more strategic and growth-oriented role for MSMEs in Asean's economic future,' Miti said. As for people of Asean, Miti said the plan would provide them with access to more competitive products and services that are affordable, accessible, high-quality and aligned with sustainability principles, supported by seamless and secure digital payments. 'They will enjoy broader employment opportunities across Asean member states, empowered to make well-informed choices as consumers with better access to accurate product information and stronger redress mechanisms to address issues with goods and services,' it said. The economic blueprint, adopted by Asean Leaders yesterday, is a comprehensive roadmap incorporating six strategic goals, 44 objectives and 192 strategic measures. It was developed through a comprehensive consultative process involving all AEC sectoral bodies and inputs from other Asean Community Pillars, and also derived from consultations with 315 stakeholders' representatives from businesses, academia, civil society, parliamentarians and more. A region-wide public survey involving 7,568 respondents from Asean member states and Timor-Leste was also conducted for this purpose. The strategic plan is one of four strategic plans under the broader Asean Community Vision 2045. — Bernama
The Star
21-05-2025
- Business
- The Star
Miti to unveil incentives to spur semiconductor sector
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. SINGAPORE: The Investment, Trade and Industry Ministry (Miti) is creating targeted incentives aimed at further boosting the growth of the local semiconductor industry, says its minister, Tengku Datuk Seri Zafrul Abdul Aziz. He said the announcement would be made in July to mark the first anniversary of the launch of the National Semiconductor Strategy. 'I can't reveal too much about what we will be announcing, but what I can say is that we are going to continue supporting this industry. We've been engaging with the industry to understand its needs and priorities. 'Of course, we know that what it wants is more fiscal support to strengthen the ecosystem, but also the right policy framework,' he said in his keynote address at the Malaysian Investment Development Authority supply chain event held here. The event took place as part of the ongoing SEMICON South-East Asia (SEA) 2025, the region's premier platform for the global electronics and semiconductor industry. Tengku Zafrul added that Miti would continue working closely with players in the semiconductor sector as the ministry navigates changes within the industry amid geopolitical uncertainty. He emphasised that Malaysia would continue to advocate global collaboration and dialogue to ensure the country remains relevant in the global supply chain. 'We recognise the sovereign right of nations to develop their domestic industries, but we must also stress the importance of global collaboration,' he said. The minister noted that Malaysia has been part of the semiconductor industry since the 1970s and has grown steadily, built strong partnerships, and attracted some of the world's most renowned companies. He said that last year, Malaysia's semiconductor sector contributed about US$130bil (RM575bil) to national electronics exports and now accounts for 13% of global back-end semiconductor output. Meanwhile, at a luncheon with industry leaders, Tengku Zafrul said Malaysia is actively diversifying its markets and has ratified 17 free trade agreements (FTAs) to date. 'The Malaysia-South Korea FTA will be finalised this October. We have resumed FTA negotiations with the European Union. 'Negotiations for FTA upgrades with China and India are also ongoing at the Asean level, where Malaysia is leading the agenda this year as chair,' he said. He added that Malaysia is also advancing negotiations on the Digital Economic Framework Agreement this year. Earlier, Tengku Zafrul launched the Malaysia Pavilion at SEMICON SEA 2025. The Malaysia External Trade Development Corp brought over nine Malaysian companies to participate in the event, offering a wide range of products and services tailored to the microelectronics and semiconductor value chain. More than 90 Malaysian companies are participating in this year's SEMICON SEA. — Bernama
