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Malaysian Reserve
11 hours ago
- Business
- Malaysian Reserve
Proposed carbon tax not hindrance for investors, says PM Anwar
PARIS — As the proposed carbon tax is being finalised, the government today gave an assurance that its implementation will not create a problem for investors. Prime Minister Datuk Seri Anwar Ibrahim said he knew that the trend towards decarbonisation is strong and compelling. 'But I think we have to be very realistic. The proposed carbon tax should not be seen as too problematic at the expense of investing companies,' he said during a question and answer session at the Roundtable Meeting with Captains of Industry in Paris, the capital of France on Friday. Also present were Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu and Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said. Anwar, who is here on a two-day official visit, said the implementation has to be done cautiously and gradually. 'We are finalising that in the next few months actually,' he said, adding that they are looking at sectors that are the biggest carbon emitters first. Despite the palm oil industry being an important sector for Malaysia, Anwar said any new plantations on peat soil have been stopped due to its high carbon emissions. The government is planning to introduce the carbon tax in 2026, specifically targeting the iron, steel and energy industries. It is part of the government's broader strategy to promote the use of low-carbon technologies and meet emission reduction goals. Industry leaders who attended the session with the Prime Minister praised the government and the country for providing a good investment climate in Malaysia. On tourism, Anwar said the number of tourists from France visiting Malaysia has increased tremendously. 'We have direct flights from Paris now. You can swim the whole year due to our favourable climate,' he quipped, citing the newly introduced Kuala Lumpur-Paris route by Malaysia Airlines. Anwar also assured French companies considering investments in Malaysia or the ASEAN region that both represent some of the fastest-growing and most dynamic economies in the world. — BERNAMA
New Straits Times
11 hours ago
- Business
- New Straits Times
Proposed carbon tax not hindrance for investors
PARIS: As the proposed carbon tax is being finalised, the government today gave an assurance that its implementation will not create a problem for investors. Prime Minister Datuk Seri Anwar Ibrahim said he knew that the trend towards decarbonisation is strong and compelling. "But I think we have to be very realistic. The proposed carbon tax should not be seen as too problematic at the expense of investing companies," he said during a question and answer session at the Roundtable Meeting with Captains of Industry in Paris, the capital of France on Friday. Also present were Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Foreign Minister Datuk Seri Mohamad Hasan, Transport Minister Anthony Loke, Agriculture and Food Security Minister Datuk Seri Mohamad Sabu and Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said. Anwar, who is here on a two-day official visit, said the implementation has to be done cautiously and gradually. "We are finalising that in the next few months actually," he said, adding that they are looking at sectors that are the biggest carbon emitters first. Despite the palm oil industry being an important sector for Malaysia, Anwar said any new plantations on peat soil have been stopped due to its high carbon emissions. The government is planning to introduce the carbon tax in 2026, specifically targeting the iron, steel and energy industries. It is part of the government's broader strategy to promote the use of low-carbon technologies and meet emission reduction goals. Industry leaders who attended the session with the Prime Minister praised the government and the country for providing a good investment climate in Malaysia. On tourism, Anwar said the number of tourists from France visiting Malaysia has increased tremendously. "We have direct flights from Paris now. You can swim the whole year due to our favourable climate," he quipped, citing the newly introduced Kuala Lumpur-Paris route by Malaysia Airlines. Anwar also assured French companies considering investments in Malaysia or the ASEAN region that both represent some of the fastest-growing and most dynamic economies in the world.
Saudi Gazette
23-05-2025
- Business
- Saudi Gazette
Aljadaan outlines Saudi priorities at IsDB Annual Meetings in Algiers
Saudi Gazette report RIYADH — Minister of Finance and Saudi Arabia's Governor at the Islamic Development Bank (IsDB) Group, Mohammed Aljadaan, led the Kingdom's delegation to the IsDB Group's Annual Meetings held in Algiers from May 19 to 22. Held under the theme 'Diversifying Economies, Enriching Lives,' the meetings focused on advancing economic transformation and improving living standards across IsDB member countries, the Ministry of Finance said in a statement. During the general session of the IsDB Board of Governors, Aljadaan addressed the group's strategic framework for 2026–2035, describing it as a foundational roadmap for institutional performance in the coming decade. 'We all recognize that the success of this ambitious vision is closely tied to the establishment of clear and practical mechanisms for measuring development impact,' Aljadaan said. 'An integrated system of indicators will ensure transparency, accountability, and effective monitoring of implementation plans.' In a Governors Roundtable Meeting titled 'Bridging the Gap: Multilateralism, Changing Trade Dynamics, and the Future of Development Finance,' Aljadaan highlighted the IsDB's key role in driving economic growth, regional integration, and fostering intra-trade and joint investment among member states. He called for greater synergy and coordination among IsDB-affiliated institutions. He also urged support for structural reforms to ensure fiscal sustainability and economic stability in the medium and long term, while reinforcing trust in multilateral institutions through enhanced efficiency and inclusivity. Aljadaan also took part in the High-Level Roundtable to operationalize the Riyadh Global Drought Resilience Partnership (RGDRP), stressing the urgent need to address the impact of drought, particularly in vulnerable regions like Africa and the Middle East. 'Drought is no longer a seasonal anomaly—it is a structural threat affecting 1.84 billion people globally, nearly 5% of whom face extreme conditions,' he said. 'Through the RGDRP, Saudi Arabia is reaffirming its Vision 2030 commitment to protect people, restore ecosystems, and foster shared prosperity.' The IsDB Group's Annual Meetings serve as a platform for international leaders, policymakers, and development experts to collaborate on advancing sustainable development, sharing knowledge, and addressing global economic challenges.
