Latest news with #Raiser
Barnama
27-05-2025
- Business
- Barnama
Malaysia's Leadership Under PM Anwar Strengthens ASEAN Cooperation -- Nazir Razak
BUSINESS ASEAN-BAC Malaysia Chairman, Tan Sri Nazir Razak attends the ASEAN Leaders' Interface with ASEAN-BAC Representatives held in conjunction with the 46th ASEAN Summit at the Kuala Lumpur Convention Centre today. Prime Minister Datuk Seri Anwar Ibrahim, leading the Malaysian delegation, delivers his speech during the ASEAN Leaders' Interface with representatives of the ASEAN Business Advisory Council (ASEAN-BAC), held in conjunction with the 46th ASEAN Summit at the Kuala Lumpur Convention Centre on May 26. KUALA LUMPUR, May 27 (Bernama) -- Malaysia's leadership under Prime Minister Datuk Seri Anwar Ibrahim has been a unique strength in bringing ASEAN leaders together to discuss and address regional issues collaboratively. ASEAN Business Advisory Council (ASEAN-BAC) Malaysia chair Tan Sri Nazir Razak said that amid a sea change of leaders across ASEAN, Anwar seems very well connected with all of them. 'He (Anwar) is like the one person who's very close to all (ASEAN country leaders), and we look to that unique ability to bring them together so that we can close on some key decisions, such as bringing down non-tariff barriers, greater empowerment to the ASEAN Secretariat and policy changes. 'It can be done, but you need leaders, and sometimes they need to spend that political capital to get things done,' he said in a press conference at the ASEAN Business Forum 2025 Curtain Raiser here today. Nazir added that he is optimistic about ASEAN now, as the region currently has a new momentum. He said the external environment has given it more of a push, hence the ASEAN chairmanship is expected to produce many positive outcomes. According to a joint statement by the organisers, ASEAN Business Forum 2025, organised by CGS International Securities Malaysia Sdn Bhd in collaboration with MBSB Bhd and OCBC Group, will be held at the St Regis Hotel on May 29 in conjunction with the 46th ASEAN Summit 2025 and the ASEAN-GCC-China Summit 2025. Co-hosted with the Malaysian Investment Development Authority (MIDA) and ASEAN-BAC Malaysia, the forum is expected to draw more than 500 attendees, comprising over 200 foreign and local corporates, policymakers and corporate captains representing the region's largest companies of over RM1 trillion in market capitalisation. 'A key highlight of the forum is the corporate engagement and business exchange session designed to drive real business collaboration between pre-screened and pre-selected matching parties from the top 25 corporations and investors across ASEAN and China.
The Sun
27-05-2025
- Business
- The Sun
Malaysia's leadership under PM Anwar strengthens ASEAN cooperation
KUALA LUMPUR: Malaysia's leadership under Prime Minister Datuk Seri Anwar Ibrahim has been a unique strength in bringing ASEAN leaders together to discuss and address regional issues collaboratively. ASEAN Business Advisory Council (ASEAN-BAC) Malaysia chair Tan Sri Nazir Razak said that amid a sea change of leaders across ASEAN, Anwar seems very well connected with all of them. 'He (Anwar) is like the one person who's very close to all (ASEAN country leaders), and we look to that unique ability to bring them together so that we can close on some key decisions, such as bringing down non-tariff barriers, greater empowerment to the ASEAN Secretariat and policy changes. 'It can be done, but you need leaders, and sometimes they need to spend that political capital to get things done,' he said in a press conference at the ASEAN Business Forum 2025 Curtain Raiser here today. Nazir added that he is optimistic about ASEAN now, as the region currently has a new momentum. He said the external environment has given it more of a push, hence the ASEAN chairmanship is expected to produce many positive outcomes. According to a joint statement by the organisers, ASEAN Business Forum 2025, organised by CGS International Securities Malaysia Sdn Bhd in collaboration with MBSB Bhd and OCBC Group, will be held at the St Regis Hotel on May 29 in conjunction with the 46th ASEAN Summit 2025 and the ASEAN-GCC-China Summit 2025. Co-hosted with the Malaysian Investment Development Authority (MIDA) and ASEAN-BAC Malaysia, the forum is expected to draw more than 500 attendees, comprising over 200 foreign and local corporates, policymakers and corporate captains representing the region's largest companies of over RM1 trillion in market capitalisation. 'A key highlight of the forum is the corporate engagement and business exchange session designed to drive real business collaboration between pre-screened and pre-selected matching parties from the top 25 corporations and investors across ASEAN and China. 'It will also feature more than 20 speakers and panellists for discussions and closed-door meetings between investors and policy makers, all focused on addressing challenges and catalysing opportunities for high-value deals and strategic partnerships for regional economic growth,' it said.
Express Tribune
17-02-2025
- Business
- Express Tribune
World Bank's executive directors visit Pakistan after 20 years
Listen to article A delegation of nine World Bank Executive Directors has arrived in Pakistan, marking the first such visit in two decades. The delegation will meet with the Prime Minister, Finance Minister, Minister for Planning, Minister for Energy, and Minister for Economic Affairs to discuss the effective implementation of $40 billion in funding. The delegation will discuss strategies for the effective implementation of the Country Partnership Framework. Additionally, the delegation will visit the provinces to review developmental initiatives and formulate strategies. The team is scheduled to visit Khyber Pakhtunkhwa, Sindh, Punjab, and Balochistan. Previously, World Bank Vice President for South Asia, Martin Raiser , stated that the $20 billion lending will be insufficient to achieve the 10 years' development goals, and Pakistan will have to mobilise more resources to overcome its challenges. In a statement issued after a week-long visit to Pakistan, Raiser appeared to balance the optimism surrounding the $20 billion Country Partnership Framework with Pakistan's actual financing needs to address the human capital crisis. "The World Bank Group's support will not be sufficient to achieve the ambitious targets set forth. Attracting private sector investment by improving the business climate is thus the need of the hour," said Raiser in a statement issued by the country office after the end of the visit. Meanwhile, Pakistan has begun preparations for securing another $1.5 billion loan programme from the International Monetary Fund (IMF), with negotiations scheduled to take place later this month. Two IMF delegations are expected to visit Pakistan to conduct an economic review for both the new loan programme and the next tranche of the already approved $7 billion programme. The total discussions will cover a combined loan amount of $2.5 billion. According to sources, an IMF delegation will visit Pakistan on February 24 to negotiate the $1.5 billion concessional loan. This new loan programme is reportedly aimed at addressing the damages caused by climate change.
Express Tribune
28-01-2025
- Business
- Express Tribune
$20b WB lending may be insufficient
Listen to article ISLAMABAD: The World Bank Vice President for South Asia, Martin Raiser, emphasised on Tuesday that the $20 billion lending will be insufficient to achieve the 10 years' development goals, and Pakistan will have to mobilise more resources to overcome its challenges. In a statement issued after the week-long visit by Raiser to Pakistan, the regional vice president appeared to strike a balance between the optimism created by the $20 billion worth Country Partnership Framework and Pakistan's actual financing needs to overcome the human capital crisis. "The World Bank Group's support will not be sufficient to achieve the ambitious targets set forth. Attracting private sector investment by improving the business climate is thus the need of the hour," said Raiser in a statement issued by the country office after the end of the visit. He further added that the World Bank Group stood ready to work with the private sector and development partners to mobilise additional resources. The $20 billion for 10 years is just 0.5% of the GDP for every year, and it is not that big and we have to be humble, said Najy Benhassine, the Country Director of the World Bank while speaking at the 'Dialogue on Economy' seminar organised by the Pakistan Business Council (PBC). "The government's own resources, the private sector and different partners of Pakistan should pool resources for long-term planning and results," said Benhassine. He said that Pakistan spends half on education compared to what the countries with similar-sized economies spend on education. The World Bank's country director added that there is no long-term growth and development when one out of three children are out of schools, one girl in four aged 14 or 15 is in secondary school and the learning poverty rate is 75%. "Three out of four children cannot read a basic text," Benhassine said, warning that such outcomes preclude sustainable growth. "It is difficult to grow when you have regular fiscal crises and an energy system with such high losses and high prices, which are impediments to industrial growth and exports," he said. "The CPF would address these issues." The World Bank's VP also underscored that implementation of the Country Partnership Framework will additionally rely on the collaboration between federal and provincial governments, joint efforts to mobilise the necessary revenues and targeted measures to improve the efficiency of government spending. During the visit, Prime Minister Shehbaz Sharif and Raiser officially launched the new Pakistan Country Partnership Framework for FY2026-35. The CPF outlines six strategic focus areas with tangible 10-year targets aimed at achieving long-term development. "The World Bank Group's Country Partnership Framework marks an important evolution in our engagement. It is aligned with Uraan Pakistan, the government's National Economic Transformative Plan and focuses on six outcomes with clear, tangible and ambitious 10-year targets," said Raiser. "We hope these targets serve as an anchor for consistent implementation efforts to ensure tangible results for the people of Pakistan," said the World Bank's VP. Raiser met with the prime minister and several members of his cabinet to discuss the ongoing reform process and prepare the ground for implementation of the CPF over the next decade. Raiser thanked the prime minister for his leadership of the reform agenda, acknowledged Pakistan's progress in economic stabilisation and discussed the policy reforms and specific actions needed to transition to sustained, inclusive growth and development. During his visit, Raiser met with Deputy Prime Minister and Minister for Foreign Affairs Mohammad Ishaq Dar, Minister of Energy and Minister of Water Resources Musadik Masood Malik, and Minister of State for Finance and Revenue Ali Pervaiz Malik. Raiser also met Chief Minister of Punjab, Maryam Nawaz Sharif, and Chief Minister of Khyber-Pakhtunkhwa Ali Amin Gandapur with whom he discussed specific plans to begin implementation of the CPF.
