Latest news with #TengkuZafrulAbdulAziz
Malaysiakini
23-07-2025
- Automotive
- Malaysiakini
Zafrul: Geely partnership lifted Proton from losses to profitability
Investment, Trade, and Industry Minister Tengku Zafrul Abdul Aziz has credited the strategic partnership with Chinese automobile manufacturer Geely for transforming Proton from financial losses to profitability. In a parliamentary written response, he highlighted how the collaboration, which began in 2017 with Geely acquiring a 49.9 percent stake in Proton Holdings Berhad, has fundamentally reshaped the national car manufacturer. He said the collaboration has enabled...
Malaysiakini
23-07-2025
- Automotive
- Malaysiakini
Zafrul: Geely partnership lifted Proton from losses to profitability
Investment, Trade, and Industry Minister Tengku Zafrul Abdul Aziz has credited the strategic partnership with Chinese automobile manufacturer Geely for transforming Proton from financial losses to profitability. In a parliamentary written response, he highlighted how the collaboration, which began in 2017 with Geely acquiring a 49.9 percent stake in Proton Holdings Berhad, has fundamentally reshaped the national car manufacturer. He said the collaboration has enabled...
The Sun
21-07-2025
- Business
- The Sun
Malaysia's trade grows 4.8% in H1 2025, shows resilience
KUALA LUMPUR: Malaysia's external trade demonstrated resilience in the first half of 2025, with total trade rising 4.8 per cent to RM1.465 trillion compared to the same period last year. Minister of Investment, Trade and Industry Datuk Seri Tengku Zafrul Abdul Aziz highlighted the country's strong performance in key markets, including the United States, the European Union, Taiwan, and Mexico. 'The Ministry of Investment, Trade and Industry (MITI) and the Malaysia External Trade Development Corporation (Matrade) remain committed to building a stronger trade ecosystem by diversifying export markets and strengthening trade relations through free trade agreements (FTAs). 'Let us expand Malaysia's global reach,' he said in a post on the X platform today. The trade surplus for June surged to RM8.59 billion, up from RM759.9 million in May 2025, marking the 62nd consecutive month of surplus since May 2020. Tengku Zafrul attributed the strong export performance to palm oil and palm oil-based agricultural products, which saw double-digit growth for 15 straight months. 'This was also supported by increased exports of machinery, equipment and parts, as well as electrical and electronic (E&E) goods,' he added. The consistent growth underscores Malaysia's ability to maintain competitiveness in global markets despite economic uncertainties. - Bernama
The Sun
25-05-2025
- Business
- The Sun
AEC Blueprint makes significant stride with implementation rate at a commendable 97%
KUALA LUMPUR: The ASEAN Economic Community (AEC) Blueprint 2025's implementation rate stands at a commendable 97 per cent, comprising 75 per cent completed measures and 22 per cent currently in progress, said Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz. The AEC Blueprint 2025 has served as the strategic roadmap for building a highly integrated and cohesive ASEAN economy, promoting inclusive and innovation-led growth, and deepening regional connectivity and competitiveness, he said. 'Through the Blueprint, ASEAN has made significant strides in areas such as trade liberalisation, investment facilitation, MSME (micro, small and medium enterprise) development, digital transformation, and sustainable economic initiatives,' he said after chairing the 25th ASEAN Economic Community (AEC) Council Meeting here in conjunction with the 46th ASEAN Summit. The AEC Council is ASEAN's key coordinating body overseeing the work of the various sectors under the ASEAN Economic Community Pillar. Tengku Zafrul said this impressive 97 per cent implementation rate not only demonstrates ASEAN's collective commitment to economic integration but also reinforces the region's ability to respond to global uncertainties in a cool, calm and calculated manner. 'The key learnings and progress under the AEC Blueprint 2025 will serve as a solid foundation for the development of the AEC Strategic Plan 2026–2030, which will chart the region's next phase of economic growth and transformation,' he said. In this context, the year 2025 marks another pivotal milestone for ASEAN, as it prepares to launch the AEC Strategic Plan 2026–2030, the successor to the AEC Blueprint 2025. 'This forward-looking document will be launched as part of the ASEAN Compendium with the overarching ASEAN Community Vision 2045 at the 46th ASEAN Summit. Tomorrow (May 26) we will witness the signing of the Kuala Lumpur Declaration,' Tengku Zafrul said. He said the AEC Council reaffirmed support and commitment to the effective implementation of the AEC Strategic Plan, which will guide ASEAN's post-2025 economic integration agenda. 'The AEC Council also looks forward to the Regional Socialisation of the AEC Strategic Plan that will be held on June 12, 2025, in Kuala Lumpur. This session will serve as a key multi-stakeholder platform to socialise and share the economic benefits of the AEC Strategic Plan,' he said. The AEC Council also discussed and reaffirmed support to facilitating and accelerating Timor-Leste's accession to the required ASEAN's Economic Agreements (AEAs), as outlined in the roadmap adopted by Leaders in 2023. 'As Chair, Malaysia expressed that Timor-Leste's accession is a priority for our chairmanship in 2025. We shared our strong view that Timor-Leste's entry as ASEAN's 11th member state will further strengthen our region's economic growth and potential,' he said. The council also continued its exchange on the economic outlook and continuing uncertainties due to the volatile geo-economic situation and their likely impact to the region, said Tengku Zafrul. Taking note of the outcomes of the special ASEAN Economic Ministers (AEM) and the special AEM-Dialogue Partner consultations, as well as the first ASEAN Geoeconomics Task Force meeting on May 16, 2025, the council acknowledged the need for collective action to respond to and address disruptive global trade policies. The meeting was attended by Malaysia's Deputy Minister of Investment, Trade and Industry Liew Chin Tong; Brunei's Minister of Finance and Economy II Datuk Awang Mohd Amin Liew Abdullah; Cambodia's Minister of Commerce Cham Nimul; Vietnam's Minister of Industry and Trade Nguyen Hong Dien; Indonesian Trade Minister Budi Santoso; and Lao Minister of Industry and Commerce Malaithong Kommasith. Other representatives who attended the meeting included Department of Trade and Industry Undersecretary Allan B. Gepty (Philippines), Deputy Prime Minister Gan Kim Yong (Singapore), Minister of Commerce Pichai Naripthaphan (Thailand) and Deputy Prime Minister Francisco Kalbuadi Lay (Timor-Leste). The 46th ASEAN Summit, being held under Malaysia's 2025 chairmanship themed 'Inclusivity and Sustainability', also marks Malaysia's fifth time chairing the regional bloc.
The Sun
25-05-2025
- Business
- The Sun
AEC Blueprint makes significant stride
KUALA LUMPUR: The ASEAN Economic Community (AEC) Blueprint 2025's implementation rate stands at a commendable 97 per cent, comprising 75 per cent completed measures and 22 per cent currently in progress, said Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz. The AEC Blueprint 2025 has served as the strategic roadmap for building a highly integrated and cohesive ASEAN economy, promoting inclusive and innovation-led growth, and deepening regional connectivity and competitiveness, he said. 'Through the Blueprint, ASEAN has made significant strides in areas such as trade liberalisation, investment facilitation, MSME (micro, small and medium enterprise) development, digital transformation, and sustainable economic initiatives,' he said after chairing the 25th ASEAN Economic Community (AEC) Council Meeting here in conjunction with the 46th ASEAN Summit. The AEC Council is ASEAN's key coordinating body overseeing the work of the various sectors under the ASEAN Economic Community Pillar. Tengku Zafrul said this impressive 97 per cent implementation rate not only demonstrates ASEAN's collective commitment to economic integration but also reinforces the region's ability to respond to global uncertainties in a cool, calm and calculated manner. 'The key learnings and progress under the AEC Blueprint 2025 will serve as a solid foundation for the development of the AEC Strategic Plan 2026–2030, which will chart the region's next phase of economic growth and transformation,' he said. In this context, the year 2025 marks another pivotal milestone for ASEAN, as it prepares to launch the AEC Strategic Plan 2026–2030, the successor to the AEC Blueprint 2025. 'This forward-looking document will be launched as part of the ASEAN Compendium with the overarching ASEAN Community Vision 2045 at the 46th ASEAN Summit. Tomorrow (May 26) we will witness the signing of the Kuala Lumpur Declaration,' Tengku Zafrul said. He said the AEC Council reaffirmed support and commitment to the effective implementation of the AEC Strategic Plan, which will guide ASEAN's post-2025 economic integration agenda. 'The AEC Council also looks forward to the Regional Socialisation of the AEC Strategic Plan that will be held on June 12, 2025, in Kuala Lumpur. This session will serve as a key multi-stakeholder platform to socialise and share the economic benefits of the AEC Strategic Plan,' he said. The AEC Council also discussed and reaffirmed support to facilitating and accelerating Timor-Leste's accession to the required ASEAN's Economic Agreements (AEAs), as outlined in the roadmap adopted by Leaders in 2023. 'As Chair, Malaysia expressed that Timor-Leste's accession is a priority for our chairmanship in 2025. We shared our strong view that Timor-Leste's entry as ASEAN's 11th member state will further strengthen our region's economic growth and potential,' he said. The council also continued its exchange on the economic outlook and continuing uncertainties due to the volatile geo-economic situation and their likely impact to the region, said Tengku Zafrul. Taking note of the outcomes of the special ASEAN Economic Ministers (AEM) and the special AEM-Dialogue Partner consultations, as well as the first ASEAN Geoeconomics Task Force meeting on May 16, 2025, the council acknowledged the need for collective action to respond to and address disruptive global trade policies. The meeting was attended by Malaysia's Deputy Minister of Investment, Trade and Industry Liew Chin Tong; Brunei's Minister of Finance and Economy II Datuk Awang Mohd Amin Liew Abdullah; Cambodia's Minister of Commerce Cham Nimul; Vietnam's Minister of Industry and Trade Nguyen Hong Dien; Indonesian Trade Minister Budi Santoso; and Lao Minister of Industry and Commerce Malaithong Kommasith. Other representatives who attended the meeting included Department of Trade and Industry Undersecretary Allan B. Gepty (Philippines), Deputy Prime Minister Gan Kim Yong (Singapore), Minister of Commerce Pichai Naripthaphan (Thailand) and Deputy Prime Minister Francisco Kalbuadi Lay (Timor-Leste). The 46th ASEAN Summit, being held under Malaysia's 2025 chairmanship themed 'Inclusivity and Sustainability', also marks Malaysia's fifth time chairing the regional bloc.
