Latest news with #TengkuZafrul
Barnama
2 days ago
- Automotive
- Barnama
Malaysia Needs More Original Technology, Innovation, Not Just More Products -- Tengku Zafrul
BUSINESS KUALA LUMPUR, July 18 (Bernama) -- Malaysia needs more technology and innovation originating from within its borders, rather than just more products on the road, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He said the government's focus on promoting deep localisation and high-technology transfer is to create better employment, elevate technical capabilities, and enable Malaysian small and medium enterprises to become global suppliers. 'What we want is the ripple effect to spur local innovation, nurture engineers and technicians, support training institutions, and accelerate broader economic growth. 'This is how true partnerships should work: where the benefits are not only mutual but transformational for the host country's domestic economy,' he said during the Official Launch of the Jaecoo J8 Premium Off-road First Class today. Tengku Zafrul said that the launch is not just a celebration of a new premium off-road vehicle, but also a milestone that symbolises the deepening partnership between Malaysia and the Chinese automotive brand Chery, as well as the continued dynamism of the country's automotive sector. He noted that as consumers become more discerning and demand greater quality and innovation, milestones such as today's launch send a powerful message that Malaysia is fast becoming a strategic hub for global automotive brands seeking to innovate, grow, and compete. 'We seek Chery's efforts to deepen its local footprint through increased local content, vendor development, or skills transfer. 'This is a critical step in transforming Malaysia into a high-value manufacturing and research and development (R&D) hub for next-generation mobility,' he said. To ensure long-term sustainability and scalability, Tengku Zafrul said Malaysia strongly encourages automotive players, particularly original equipment manufacturers, to position the country as a strategic regional hub, with a strong emphasis on export-oriented production.
The Sun
2 days ago
- Automotive
- The Sun
Malaysia pushes for local tech innovation over product volume, says Tengku Zafrul
KUALA LUMPUR: Malaysia must prioritise homegrown technology and innovation rather than merely increasing product output, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. He emphasised the government's push for deep localisation and high-tech transfer to create better jobs, enhance technical skills, and elevate Malaysian SMEs as global suppliers. 'What we want is the ripple effect to spur local innovation, nurture engineers and technicians, support training institutions, and accelerate broader economic growth,' he said during the launch of the Jaecoo J8 Premium Off-road First Class. Tengku Zafrul highlighted that the event marked not just the debut of a new vehicle but also a milestone in Malaysia's partnership with Chinese automaker Chery, showcasing the country's growing role as an automotive innovation hub. 'As consumers demand higher quality and innovation, Malaysia is fast becoming a strategic hub for global brands looking to compete and grow,' he added. The minister urged Chery to expand its local presence through increased local content, vendor development, and skills transfer, reinforcing Malaysia's ambition to become a high-value manufacturing and R&D centre for next-generation mobility. To sustain long-term growth, he encouraged automakers to position Malaysia as a regional export hub, noting Chery's progress in expanding exports. 'Consolidating production for domestic and export markets enhances economies of scale and strengthens local suppliers,' he said. With over 700,000 workers and a 4% GDP contribution, Malaysia's automotive sector remains vital. The National Automotive Policy 2020 targets a RM104.2 billion GDP contribution by 2030, requiring advancements in R&D, software, and sustainable materials. - Bernama
Malay Mail
2 days ago
- Automotive
- Malay Mail
Tengku Zafrul: Malaysia needs homegrown tech, not just more products on the road
KUALA LUMPUR, July 18 — Malaysia needs more technology and innovation originating from within its borders, rather than just more products on the road, said Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz. He said the government's focus on promoting deep localisation and high-technology transfer is to create better employment, elevate technical capabilities, and enable Malaysian small and medium enterprises to become global suppliers. 'What we want is the ripple effect to spur local innovation, nurture engineers and technicians, support training institutions, and accelerate broader economic growth. 'This is how true partnerships should work: where the benefits are not only mutual but transformational for the host country's domestic economy,' he said during the Official Launch of the Jaecoo J8 Premium Off-road First Class today. Tengku Zafrul said that the launch is not just a celebration of a new premium off-road vehicle, but also a milestone that symbolises the deepening partnership between Malaysia and the Chinese automotive brand Chery, as well as the continued dynamism of the country's automotive sector. He noted that as consumers become more discerning and demand greater quality and innovation, milestones such as today's launch send a powerful message that Malaysia is fast becoming a strategic hub for global automotive brands seeking to innovate, grow, and compete. 'We seek Chery's efforts to deepen its local footprint through increased local content, vendor development, or skills transfer. 'This is a critical step in transforming Malaysia into a high-value manufacturing and research and development (R&D) hub for next-generation mobility,' he said. To ensure long-term sustainability and scalability, Tengku Zafrul said Malaysia strongly encourages automotive players, particularly original equipment manufacturers, to position the country as a strategic regional hub, with a strong emphasis on export-oriented production. In this regard, he said, Chery has demonstrated commendable progress in expanding its export footprint. 'Consolidating production for both domestic consumption and export markets not only enhances economies of scale but also strengthens the competitiveness of local component suppliers. 'This approach further supports the formation of new industrial clusters focusing on advanced automotive technologies, reinforcing Malaysia's role in the regional value chain,' he said. With a local ecosystem already supporting over 700,000 workers and contributing more than 4.0 per cent of national gross domestic product (GDP), he said the automotive industry remains a key pillar of Malaysia's economy. 'As outlined in the National Automotive Policy 2020, our aim is for the industry to contribute RM104.2 billion to Malaysia's GDP by 2030. 'To get there, we must move up the value chain, invest in R&D, and build our capabilities in software, electronics, and sustainable materials, not just in assembly or trading,' he said. — Bernama
The Star
3 days ago
- Business
- The Star
Trade deals must support economic reforms and growth, says minister
KUALA LUMPUR: Poor deals will have long-term repercussions on Malaysia, and that is why Putrajaya has several principles when it negotiates with the US, says Investment, Trade and Industry Minister (Miti) Tengku Datuk Seri Zafrul Abdul Aziz. Tengku Zafrul said Putrajaya's negotiating stance with the US is that any deals reached between the two countries must support Malaysia's economic reforms and sustainable growth policies. 'Our negotiating stance is always to ensure that whatever deal we land on will support the country's economic reforms and sustainable growth policies. 'Catchy, feel-good headlines last a few days, a week at the most. 'But poor deals will have long-term consequences on our people, industries and economy. 'I am certain negative long-term outcomes are not what the public wants nor what current and future taxpayers need,' said Tengku Zafrul in his opening remarks at the International Healthcare Week 2025 (IHW 2025) here yesterday. He also said Putrajaya will never sacrifice the country's sovereignty or sideline other trading partners in trying to close a deal with the US. 'Our people's rights, our country's sovereignty and trust with our valued partners are not bargaining chips,' added Tengku Zafrul. Malaysia is currently facing a 25% tariff rate for all exports entering the US and Putrajaya has until Aug 1 to negotiate with the US. According to Tengku Zafrul, trade negotiations are a complex multi-stakeholder process, where relevant ministries and agencies must be consulted to ensure a smooth implementation after negotiations. 'For context, the average duration for a regular trade negotiation is 18 months. For Miti, the fastest on record thus far is 11 months,' said Tengku Zafrul, referring to the recently signed comprehensive partnership agreement between Malaysia and the United Arab Emirates (UAE). 'So, we need to be realistic about trade deals that can be completed within 90 days,' he added. Tengku Zafrul also said that Putrajaya wants to ensure that any agreement with the US supports an open, rules-based and fair, multilateral trade, with the World Trade Organisation at its core. 'The agreement must also safeguard market access, while recognising the need of emerging countries like Malaysia to develop sustainable supply chains and economies,' said the minister. He also said that Malaysia values its economic ties with the US, noting that last year, Malaysia-US trade rose to nearly 30% to RM324.9bil, with Malaysia being an important source for products such as electrical and electronics (E&E), machinery, rubber gloves and palm oil. He said that Malaysia has been an important production base for US investments for at least five decades. 'From 1980-2024, there have been 169 American investment projects in Malaysia (RM77.5bil), in sectors such as E&E, machinery and scientific equipment,' he added. Tengku Zafrul said that for the past 50 years, these companies have received various investment incentives such as investment tax allowances, automation capital allowance and high-impact grants which are valued at RM4.1bil cumulatively. Annual incentives, he said, in the recent years have been between RM800,000 and RM1.2bil. 'So, we will continue to uphold the principles of positive reciprocity and fair competition while working alongside industry to innovate, diversify and maintain our resilience in the global market. 'These developments are also strong reminders of how and why we must always be ready, agile and adaptable to external shocks,' said Tengku Zafrul. Speaking to reporters at the sidelines of IHW 2025, he said that Malaysia is still negotiating a deal to lower tariffs with the United States ahead of the Aug 1 deadline. The minister said that while US President Donald Trump announced that Indonesia has struck a deal for a 19% tariff rate, he has not obtained further information from the Indonesian government. 'Let's wait for Indonesia's announcement. We are still in negotiations, we have until Aug 1. 'We still have time; most importantly, we must ensure that this is a negotiation that is beneficial to both countries. It must be win-win,' added Tengku Zafrul. Trump yesterday announced that Indonesian goods entering the US will face a 19% tariff, significantly lower than the 32% rate given to Jakarta earlier this month. Malaysia is facing a 25% tariff rate, up 1% from the initial 24% rate announced in April. Earlier this month, Trump announced varying tariff rates on 14 countries to take effect on Aug 1, including a 25% rate on Malaysia, Japan, South Korea, Tunisia and Kazakhstan. Other countries were hit with higher rates such as Cambodia (36%), Thailand (36%) and 40% in Laos and Myanmar, respectively.
New Straits Times
3 days ago
- Sport
- New Straits Times
New BAM chief aims to smash old mindsets for badminton success
KUALA LUMPUR: BA of Malaysia (BAM) president Tengku Datuk Seri Zafrul Abdul Aziz believes that changing the mindset of the management, players and coaches will be crucial in elevating Malaysian badminton to the next level. Tengku Zafrul said this would be one of the key areas he will address before unveiling his full plan to steer BAM forward — once he completes his first 100 days in office at the end of next month. He added that a detailed roadmap will be revealed by the end of August. "What's most important at the end of the day is the mindset — of the management, players and coaches," said Tengku Zafrul after holding a media briefing, part of a series of stakeholder engagements he promised upon assuming the role. "To transform things, we need to assess where we are now in terms of finance, governance structure, players, coaches, infrastructure, grassroots development and the role of State BAs, and what is needed to align them all to reach a top rating of 10. "Whether we like it or not, the expectations for Malaysian badminton are high, and we must do a lot more than where we are today. "When I present the plan at the end of August — there may be differing views — but ultimately, we all need to rally together to ensure badminton remains one of Malaysia's sporting success stories. "With the support of council members, players, and all stakeholders, I believe we can lift Malaysian badminton to another level over time." Tengku Zafrul also said he has already met most of the key stakeholders and will soon engage with the Youth and Sports Ministry, National Sports Council (NSC), National Sports Institute (NSI) and other relevant government agencies as part of his ongoing fact-finding exercise. "It has been quite productive. My plan was to meet as many stakeholders as possible, and I've had good engagement," he added. "The positive takeaway is that everyone I've spoken to is passionate about the sport. They may have different views, but their willingness to share shows they want to see progress. "I've also spoken to some former players, but I won't reveal the details just yet. Meetings with the government agencies are next." Tengku Zafrul also said he has yet to have an in-depth discussion with the BAM coaches due to their tournament schedules, but will sit down with them on July 31 as part of his ongoing fact-finding.
