Latest news with #NGCC
Malay Mail
08-05-2025
- Business
- Malay Mail
Malaysia sees opportunity as US rethinks AI chip export curbs
KUALA LUMPUR, May 8 — Malaysia welcomes United States President Donald Trump's move to revisit artificial intelligence (AI) chip export rules as clarity and consistency in tech policy are vital for global innovation, supply chain resilience and inclusive growth. The Ministry of Investment, Trade and Industry (Miti) said Malaysia is actively engaging with key trading partners to ensure secure and equitable access to critical technologies through the National Geoeconomic Command Centre (NGCC). 'We support frameworks that promote trust, national security and access to tech for responsible nations,' MITI said in response to Bernama's query on news reports that Washington plans to revisit AI export curbs. Miti said that as a key player in the global semiconductor ecosystem, the Madani government remains open to strategic collaboration that drives innovation and inclusive growth. Meanwhile, Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said such a move would benefit Malaysia, especially the semiconductor industry, while noting that more details would emerge later. 'So, we welcome this move and I think when I spoke to the industry players, they are also very pleased because Malaysia is obviously one of the major destinations, especially given the technology that we produce and use here all involves chips,' he told a press conference after visiting the Malaysia Autoshow (MAS) 2025 at MAEPS Serdang today. Tengku Zafrul said MITI deputy secretary-general (trade) Mastura Ahmad Mustafa had two meetings with the United States Trade Representatives (USTR). 'We will continue (our meeting with USTR), and next week, I will be meeting USTR's Jamieson Greer. 'I will be flying into Korea for the Asia-Pacific Economic Cooperation (APEC). He will also be there, and we will take stock of the negotiations that have started between our chief negotiator and the USTR,' he added. — Bernama
New Straits Times
06-05-2025
- Business
- New Straits Times
Govt committed to tackling US tariffs' impact, protecting the people
PUTRAJAYA: The government's move to tackle the impact of retaliatory tariffs imposed by the United States on Malaysia aims to protect the people, particularly rural communities, to ensure they remain resilient amid global uncertainties, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi. The rural and regional development minister said the Madani government's proactive measure to establish the National Geo-Economics Action Centre (NGCC) reflects its commitment to preserving national interests and ensuring that Malaysia's competitiveness remains globally strong. "I take seriously the challenges rural communities face due to global trade uncertainties. Many rural people rely on the electric and electronic (E&E), palm oil, rubber, and agriculture sectors, with the US being one of Malaysia's key export markets. "I am confident that the government's efforts, not only to negotiate tariff reductions but also open new markets in Asean, the Middle East, Egypt, Pakistan, and Cambodia, are crucial in protecting the income and survival of those affected," he said in a Facebook post, here today. Ahmad Zahid said the government's swift action in setting aside the RM1 billion allocation to upgrade the Sabah and Sarawak-Kalimantan borders and raise the limit for procurement by quotation from RM1 million to RM3 million, will see projects to build schools, clinics, roads and flood mitigation can be expedited, which would open up more job opportunities for small-scale contractors and workers in rural areas. The chairman of the Technical and Vocational Education and Training (TVET) Council said that challenges in the E&E sector would impact the demand for highly skilled human capital. "I am committed to boosting the country's TVET institutions to encourage more international collaborations, particularly in artificial intelligence, green technology, and digitalisation. "Our priority is to ensure more rural youths get access to relevant and quality TVET training and increase their participation in high-value sectors that will drive the future economy," he said. Ahmad Zahid said Malaysia is now on a steady trajectory, with a 5.1 per cent GDP growth for 2024, a declining fiscal deficit, and stable inflation rates. The government is also committed to implementing reform agendas such as the New Industrial Masterplan 2030, the National Energy Transition Roadmap, and national digitalisation efforts without compromising key principles, including Bumiputera rights, the plight of local vendors, and the protection of strategic sectors. "Let us strengthen the saf (unite), foster national solidarity and work together to realise the reform agendas under the Madani Economy framework, to build a more prosperous, inclusive and resilient Malaysia for future generations," he added.
Borneo Post
06-05-2025
- Business
- Borneo Post
Ahmad Zahid: Govt committed to tackling US tariffs impact, protecting the people
Dr Ahmad Zahid Hamidi PUTRAJAYA (May 6): The government's move to tackle the impact of retaliatory tariffs imposed by the United States on Malaysia aims to protect the people, particularly rural communities, to ensure they remain resilient amid global uncertainties, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi. Ahmad Zahid, who also serves as the Rural and Regional Development Minister, said the Madani government's proactive measure to establish the National Geo-Economics Action Centre (NGCC) reflects its commitment to preserving national interests and ensuring that Malaysia's competitiveness remains globally strong. 'I take seriously the challenges rural communities face due to global trade uncertainties. Many rural people rely on the electric and electronic (E&E), palm oil, rubber, and agriculture sectors, with the US being one of Malaysia's key export markets. 'I am confident that the government's efforts—not only to negotiate tariff reductions but also open new markets in ASEAN, the Middle East, Egypt, Pakistan, and Cambodia—are crucial in protecting the income and survival of those affected,' he said in a Facebook post, here today. Ahmad Zahid said the government's swift action in setting aside the RM1 billion allocation to upgrade the Sabah and Sarawak-Kalimantan borders and raise the limit for procurement by quotation from RM1 million to RM3 million, will see projects to build schools, clinics, roads and flood mitigation can be expedited, which would open up more job opportunities for small-scale contractors and workers in rural areas. The chairman of the Technical and Vocational Education and Training (TVET) Council said that challenges in the E&E sector would impact the demand for highly skilled human capital. 'I am committed to boosting the country's TVET institutions to encourage more international collaborations, particularly in artificial intelligence, green technology, and digitalisation. 'Our priority is to ensure more rural youths get access to relevant and quality TVET training and increase their participation in high-value sectors that will drive the future economy,' he said. Ahmad Zahid said Malaysia is now on a steady trajectory, with a 5.1 per cent GDP growth for 2024, a declining fiscal deficit, and stable inflation rates. The government is also committed to implementing reform agendas such as the New Industrial Masterplan 2030, the National Energy Transition Roadmap, and national digitalisation efforts without compromising key principles, including Bumiputera rights, the plight of local vendors, and the protection of strategic sectors. 'Let us strengthen the saf (unite), foster national solidarity and work together to realise the reform agendas under the Madani Economy framework, to build a more prosperous, inclusive and resilient Malaysia for future generations,' he added. – Bernama ahmad zahid hamidi Malaysia economy reciprocal tariffs united states
New Straits Times
06-05-2025
- Business
- New Straits Times
Zahid: NGCC underscores Malaysia's commitment to global competitiveness
KUALA LUMPUR: The establishment of the National Geo-Economic Command Centre (NGCC) clearly demonstrates the government's commitment to safeguarding national interests and ensuring that Malaysia remains competitive on the global stage. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, who is also the rural and regional development minister, said he views the challenges faced by rural communities due to global trade uncertainties seriously. "Many rural residents indirectly depend on the electrical and electronics, palm oil, rubber, and agricultural sectors, with the United States (US) being one of our key export markets. "Therefore, I believe the government's efforts to not only negotiate tariff reductions but also establish new markets in Asean, the Middle East, Egypt, Pakistan, and Cambodia are crucial in protecting the incomes and livelihoods of those affected," he said in a Facebook post today. Ahmad Zahid said he supported the measures announced by Prime Minister Datuk Seri Anwar Ibrahim during the Special Parliamentary Session to address the impact of the US' reciprocal tariffs on Malaysia. He also expressed his appreciation for the government's swift move in allocating RM1 billion to upgrade the Sabah and Sarawak-Kalimantan border areas. Ahmad Zahid said Malaysia continues to be a trusted leader in the global halal industry, with exports expected to reach RM61.79 billion in 2024 – a 15 per cent increase from the previous year – maintaining its top ranking in the Global Islamic Economy Index for ten consecutive years. However, he noted that the global economic slowdown due to the US tariff policies is expected to reduce international demand for various export products, including halal goods, thereby putting pressure on local industry players. Nonetheless, he said current efforts to explore new markets, particularly in the Gulf Cooperation Council and South Asia, through business matching and participation in international expos are key to driving export growth, opening new opportunities for local entrepreneurs, and strengthening Malaysia's position as a global halal hub. Ahmad Zahid said the Rural and Regional Development Ministry, together with the Malaysia External Trade Development Corporation (Matrade) and the Halal Development Corporation, will continue to ensure that halal entrepreneurs, particularly those in rural areas, continue to penetrate international markets. – Bernama
The Star
06-05-2025
- Business
- The Star
Zahid: NGCC underscores Malaysia's commitment to global competitiveness
Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi -- Bernama KUALA LUMPUR: The establishment of the National Geo-Economic Command Centre (NGCC) clearly demonstrates the government's commitment to safeguarding national interests and ensuring that Malaysia remains competitive on the global stage. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi, who is also the Minister of Rural and Regional Development, said he views the challenges faced by rural communities due to global trade uncertainties seriously. "Many rural residents indirectly depend on the electrical and electronics, palm oil, rubber, and agricultural sectors, with the United States (US) being one of our key export markets. "Therefore, I believe the government's efforts to not only negotiate tariff reductions but also establish new markets in ASEAN, the Middle East, Egypt, Pakistan, and Cambodia are crucial in protecting the incomes and livelihoods of those affected,' he said in a Facebook post today. Ahmad Zahid said he supported the measures announced by Prime Minister Datuk Seri Anwar Ibrahim during the Special Parliamentary Session to address the impact of the US' reciprocal tariffs on Malaysia He also expressed his appreciation for the government's swift move in allocating RM1 billion to upgrade the Sabah and Sarawak-Kalimantan border areas. The Deputy Prime Minister also highlighted that Malaysia continues to be a trusted leader in the global halal industry, with exports expected to reach RM61.79 billion in 2024 - a 15 per cent increase from the previous year - maintaining its top ranking in the Global Islamic Economy Index for ten consecutive years. However, he noted that the global economic slowdown due to the US tariff policies is expected to reduce international demand for various export products, including halal goods, thereby putting pressure on local industry players. Nonetheless, he said current efforts to explore new markets-particularly in the Gulf Cooperation Council and South Asia-through business matching and participation in international expos are key to driving export growth, opening new opportunities for local entrepreneurs, and strengthening Malaysia's position as a global halal hub. Ahmad Zahid added that the Ministry of Rural and Regional Development, together with the Malaysia External Trade Development Corporation (MATRADE) and the Halal Development Corporation, will continue to ensure that halal entrepreneurs, particularly those in rural areas, continue to penetrate international markets. - Bernama
