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Borneo Post
an hour ago
- Business
- Borneo Post
Malaysia secures RM8 bln to date at Expo 2025 Osaka
Fadillah (middle) rings the gong to officiate the launch of the Malaysia Pavilion at the Expo 2025 Osaka on Saturday. OSAKA (May 31): The Malaysia Pavilion has successfully secured more than RM8 billion in potential investments and 20 memoranda of understanding (MOUs) to date at the Expo 2025 Osaka, Japan. This is fast approaching the government's target of RM13 billion in potential trade and investments from this expo. Malaysia's participation vial its own pavilion, which runs from April to October, is supported by the participation from 21 federal ministries and around 70 government departments and agencies. According to Deputy Prime Minister Datuk Seri Fadillah Yusof, this achievement represents 61.54 per cent of Malaysia's target of RM13 billion within just two months of operations, signalling optimism for Malaysia. A total of 101 companies are involved in these investment deals of RM8 billion, with 398 business meetings held so far. 'From our target of 1.5 million visitors over the six-month duration of the Expo, we have surpassed the milestone of 1 million guests at the pavilion this week,' he added during the launch of the Malaysia Pavilion at Expo 2025 Osaka here on Saturday. Also present was Deputy Premier of Sarawak, Datuk Amar Awang Tengah Ali Hasan; Deputy Minister of Investment, Trade and Industry Liew Chin Tong; Ambassador of Malaysia to Japan, Datuk Shahril Effendi Abd Ghany; MITI Deputy Secretary General (Industry) Datuk Hanafi Sakri; and Malaysia Pavilion director Ellyza Mastura Amhad Hanipiah. Fadillah, who is also Minister of Energy Transition and Water Transformation (PETRA), underscored the Expo's role as a strategic and complementary platform not only to showcase Malaysia's capabilities, but also to highlight the collective efforts of the Asean region in shaping a future that is inclusive, equitable, and environmentally responsible. 'Our theme as Chair of Asean this year, 'Inclusivity and Sustainability' aligns seamlessly with Expo 2025's overarching theme, 'Designing Future Society for Our Lives',' he said. 'By being here, we are not only showcasing Malaysia's capabilities and ambitions but also engaging directly with the people of Japan and the wider international community. 'This global stage fosters mutual understanding, encourages meaningful dialogue, and opens new pathways for collaboration across shared areas of interest.' The Deputy Prime Minister recalled that Malaysia had previously participated in the Expo 1970 Osaka 55 years ago — a sign of the staunch camaraderie between Malaysia and Japan. 'From early collaborations in industrial development to contemporary partnerships in technology and education, the connections between our people and our nations are profound. 'The presence of numerous Malaysian students and professionals in Japan, and the reciprocal interest of Japanese in Malaysia's unique heritage, natural beauty and business opportunities, are proofs to this strong affinity.' Expo 2025 Osaka foreign investment Malaysia Pavilion
The Star
an hour ago
- Business
- The Star
Japan seeks to grow Africa investments to ease reliance on China
TOKYO: Japan is supporting its companies to grow their business in Africa and develop trade ties across a continent where it's mainly been seen as a key donor. The second-biggest Asian economy's emergence from a three-decade period of deflation has boosted its private sector's risk appetite, Takehiko Matsuo, vice-minister for International Affairs at the Ministry of Economy, Trade and Industry told Bloomberg in Abidjan, the commercial hub of Ivory Coast. "Now the mindset of Japanese business leaders has changed dramatically and they are now much more proactive about expanding their business globally,' Matsuo said. "Africa is one of the destinations where we expect Japanese companies' to grow their presence. Japan is reasserting a commitment to do more business with Africa as it emerges from years during which its private sector was particularly risk-averse. The government has yet to declare an end to the deflation that gripped the economy for decades. Still, data this month showed consumer prices have advanced at or above the Bank of Japan's two per cent inflation target for three straight years. Japan's net external assets reached a record high in 2024 as its investors and companies continued to load up on holdings abroad, with the US and UK the prime destinations for foreign direct investment. So far, only a trickle of that has reached Africa, with the continent receiving about 0.5 per cent of Japan's foreign direct investments. For Africa, Japan's push to recalibrate its relationship also comes at a critical time. Mobilising private investment has become more pressing since President Donald Trump returned to the White House, slashing US aid. But it could be a win-win. By 2050, one in every four people will likely be African, and Goldman Sachs Group Inc. research projects that, by 2075, six of the biggest economies in the world could be in the Global South, including Nigeria - a point cited by the Japanese ministry. Key sectors of interest for Japan include critical minerals, base metals and rare earths as the government seeks to reduce its reliance on China, coincidently Africa's top trading partner. "We are pretty much depending on Chinese companies,' Matsuo said. "I'm not saying that we cannot work with Chinese companies, but only depending on one country may be causing some vulnerability.' Japanese trading house Mitsui & Co. emerged as the highest bidder for a stake in First Quantum Minerals Ltd.'s Zambian copper mines, Bloomberg reported in November. Beyond mining, Japanese corporations are also looking to bring new technologies to Africa, sometimes backed by government subsidies, Matsuo said. Fujifilm Corp. is exploring preventive medical-care services, a technology that's especially relevant in a region with low health insurance penetration, and Toyota Tsusho Corp. is looking into introducing automobile recycling systems, Matsuo said. Hitachi Construction Machinery Co Ltd. has also been working on hybrid dump trucks to help green mining operations. Japanese investors also have an appetite for green hydrogen and ammonia that can be used to decarbonise industries, he said. It's not only corporations seeking to work more on the continent. Japan announced an initiative this month to connect Japanese and African startups to foster innovation. Within members of the Organisation for Economic Cooperation and Development, Japan was sub-Saharan Africa's third-biggest providers of overseas development assistance in 2022, with US$1.68 billion in gross disbursements, according to government data. Unlike the US or the UK, it's not announced plans to reduce its aid so far. "This year, we will have the biggest meeting for collaboration between Japan and African countries,' Matsuo said, referring to the ninth edition of the Tokyo International Conference on Africa Development holding in Yokohama in August. "In that sense, we are rather making efforts to expand our cooperation.' - Bloomberg
Malaysiakini
3 hours ago
- Politics
- Malaysiakini
Puad: Zafrul may owe RM100m for 'party-hopping', PKR must be warned
Umno supreme council member Puad Zarkashi has urged the party leadership to review whether Investment, Trade and Industry Minister Tengku Zafrul Abdul Aziz can be held liable for RM100 million in damages for allegedly breaching his pledge as a BN candidate. This follows Zafrul's announced resignation from Umno, with intentions reportedly to join PKR.
Rakyat Post
16 hours ago
- Business
- Rakyat Post
Tengku Zafrul Initiates Historic Move To PKR, Ending UMNO Chapter
Subscribe to our FREE In a significant political development tonight, Investment, Trade and Industry Minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz has announced his move to PKR, a decision that comes just days after the shocking resignation announcements of two senior PKR cabinet ministers. The timing of Zafrul's entry into PKR has drawn particular attention, coming in the immediate aftermath of Economy Minister Rafizi Ramli and Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad's decisions to step down from their cabinet positions. Both ministers are currently serving their notice periods, with Rafizi set to leave on 17 June officially and Nik Nazmi following on 4 July. READ MORE: Zafrul's transition marks a significant shift in his political allegiance, particularly given his previous positions within UMNO, including serving as a Supreme Council member and chief of the Kota Raja division. READ MORE: Zafrul's Graceful Exit: A Study in Political Transition In his heartfelt resignation announcement, Zafrul emphasised the difficulty of his decision, acknowledging his deep roots with UMNO since 1997. He revealed that he had sought counsel from various quarters, including party colleagues and the UMNO President himself, before making the decision to leave Umno. His statement reflected both professional courtesy and personal gratitude, particularly in his touching tribute to UMNO members and supporters. 'Jasa anda tak mungkin akan terbalas dan akan saya kenang sampai bila-bila.' (Your contributions can never be repaid and will be remembered forever). Looking forward, Zafrul has already initiated discussions with PKR's leadership regarding his membership application. His approach to joining PKR demonstrates respect for institutional processes, as he has committed to following standard application procedures rather than seeking special consideration. This methodical approach to his political transition aligns with his reputation for careful, strategic decision-making. Political Chess: UMNO Stalwart's Defection Reshapes Unity Government Dynamics The situation has sparked intense discussion within political circles, with some questioning the timing of these major changes in PKR's composition. While Rafizi has maintained a strategic silence about his future plans, stating only that he will reveal them at a later date, Zafrul's entry into PKR represents a significant reinforcement for the party during this period of transition. READ MORE: This reshuffling of political figures, with two senior ministers departing their posts while a former UMNO leader joins PKR despite previous attempts to retain him, signals a complex new chapter in Malaysian politics, particularly within the context of the unity government's ongoing evolution. From Parliament to Badminton: Zafrul's Dual Role in Politics and Sports Leadership Zafrul was appointed as a senator after his defeat in the elections, allowing him to continue serving as a minister. He lost narrowly in the Kuala Selangor election to Pakatan Harapan's (PH) Datuk Seri Dr Dzulkefly Ahmad during the 2022 Malaysian general election, despite being a high-profile candidate for Barisan Nasional, a result that came as a surprise to many observers. His senatorship allows him to hold a governmental position despite not being an elected representative. His current senatorial term is expected to last until 2025, after which he will need to either be reappointed or face the expiration of his term. Zafrul is also the 13th president of the Badminton Association of Malaysia (BAM) for the term 2025-2029, succeeding Tan Sri Norza Zakaria. He is married to Raja Johanna Adrina Raja Arshad, and they have four children together, comprising two daughters and two sons. Share your thoughts with us via TRP's . Get more stories like this to your inbox by signing up for our newsletter.
Borneo Post
17 hours ago
- Business
- Borneo Post
Malaysia to continue negotiations with US on tariffs, says Anwar
Anwar speaking at the launch of Esteel Enterprise Sabah Sdn Bhd Phase 1 on Friday. KOTA KINABALU (May 30): Malaysia maintains its stance on negotiation to resolve the issue of tariffs imposed by the administration of US President Donald Trump. Prime Minister Datuk Seri Anwar Ibrahim said negotiations are crucial to ensuring strong Malaysia-US bilateral relations, as the US is Malaysia's third-largest trading partner after Singapore and China. 'We live in challenging times where we face significant direct and indirect impacts from the tariffs announced by the US. However, let's look at this positively — we will continue negotiations because the US is a key investor in Malaysia. American investments are among the highest in Malaysia, and we must maintain good relations with them,' he said at the launch of Esteel Enterprise Sabah Sdn Bhd (Esteel) Phase 1 on Friday. Anwar stressed that Malaysia's position is also important to ensure that any trade agreements or tariffs are fair and comply with international laws. 'I will meet with US officials and also Singaporean President Lawrence Wong to discuss Malaysia-Singapore dialogue, showing that both nations will maintain strong ties as key trading partners,' he explained. He added that Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz had also gone to the US to negotiate, presenting Malaysia's stance alongside ASEAN nations, as well as Korea, Japan, and China, which support bilateral trade relations and oppose unilateral actions.
