Latest news with #WCR
The Sun
04-08-2025
- Business
- The Sun
Malaysia targets 3.6% annual labour productivity growth under 13MP
KUALA LUMPUR: The Malaysia Productivity Corporation (MPC) has affirmed that the 3.6 per cent annual labour productivity growth target set under the 13th Malaysia Plan (13MP) is realistic but requires coordinated implementation to propel Malaysia into the top 12 of the IMD World Competitiveness Index by 2030. MPC emphasised that boosting labour productivity is crucial for sustainable economic growth, fair wages, and industrial resilience amid rising global cost pressures. 'The surge in global costs, fuelled by supply chain disruptions, labour shortages, and economic restructuring, demands a structured and systemic response,' said MPC director-general Datuk Zahid Ismail. 'Productivity improvement is the most effective way to ensure economic resilience, price stability, and public welfare,' he added in a statement today. To achieve the 13MP target, MPC has launched the Industry-Based Academy Programme to align education with industry needs. It is also developing the National Competitiveness Indicator Tracker, a tool designed to pinpoint policy and regulatory improvements for Malaysia's World Competitiveness Ranking (WCR). 'This strategy, implemented since last year, has already helped Malaysia climb 11 spots to 23rd in the WCR 2025 report,' Zahid noted. The initiative will continue aiding policymakers in making timely and precise improvements to enhance national competitiveness. MPC is also strengthening partnerships with ministries, agencies, and the private sector through PEMUDAH and 14 Productivity Nexus teams. These collaborations aim to ensure productivity initiatives translate into tangible gains, supporting Malaysia's goal of becoming one of the world's 12 most competitive nations by 2030. - Bernama
New Straits Times
04-08-2025
- Business
- New Straits Times
Malaysia, US set to ink trade agreement
KUALA LUMPUR: Malaysia and the United States (US) are expected to formalise their tariff and trade commitments through a new Agreement on Reciprocal Trade (ART), which will serve as a binding framework for future bilateral economic cooperation. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said while a principled agreement had been reached as of July 31, the commitments will be codified in a formal document to be signed by both governments. A joint statement is also being finalised. "The commitments made during the negotiations will be detailed in the form of a trade agreement document, namely the Agreement on Reciprocal Trade (ART), which will be signed by both parties," he told the Dewan Rakyat today. The ART will cover six main areas namely, tariffs and quotas, non-tariff barriers, digital trade and technology, rules of origin, economic and national security, and commercial considerations. The Investment, Trade and Industry Ministry (MITI) will coordinate the implementation and monitoring of all agreed commitments. "MITI will monitor the implementation of the agreed commitments and ensure they are executed properly and bring long-term benefits to the country," said Tengku Zafrul. He said the negotiations provided Malaysia an important opportunity to reflect on and reform government policies, particularly outdated procedures and overlapping regulations that hinder trade and investment. "These negotiations served as a critical opportunity for Malaysia to reassess policies, processes and existing bureaucracy, particularly regarding non-tariff barriers and outdated or overlapping procedures," he said. Tengku Zafrul said these reforms are already bearing fruit, citing Malaysia's 11-place jump in the 2025 World Competitiveness Ranking (WCR) to 23rd, its best showing since 2020. "The tangible results of reforms implemented by the government can be seen in Malaysia's rise of 11 positions in the 2025 WCR from 34th to 23rd out of 69 economies," he said. A joint statement between Malaysia and the US outlining the agreed commitments will be issued soon. Discussions are ongoing to finalise the details of the ART, which both parties aim to sign in due course.
Time of India
21-07-2025
- Business
- Time of India
Bhopal div rolls out ‘Speed Vision' plans for safer rail ops
Bhopal: WCR's Bhopal Division has implemented 'Speed Vision', an innovative software developed internally to enhance passenger safety and operational transparency. This advanced programme efficiently analyses locomotive speedometer data, generating operational reports within minutes through automated processing. West Central Railway's General Manager, Shobhana Bandopadhyay, launched it recently at Guna Crew Lobby. Chief Loco Inspector Surendra Srivastava developed it under the supervision of DRM Devashish Tripathi and DEE (TRO) Sachin Sharma in a month. Bhopal division PRO Nawal Agarwal said that Speed Vision efficiently processes speedometer data Excel files, creating comprehensive graphical reports containing essential information, including date, time, speed, distance, braking patterns, overspeed incidents, and brake tests. "This automated analysis eliminates errors and significantly reduces processing time compared to manual methods," he said. The Bhopal division analyses 13 floppies daily, processing around 400 speedometer records monthly to evaluate loco pilot performance. When violations or operational irregularities are detected, the concerned pilots receive counselling and additional training as needed. In June 2025, only 8 out of 400 cases showed irregularities requiring counselling. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Villas For Sale in Dubai Might Surprise You Villas in Dubai | Search Ads Get Info Undo The division currently employs 747 loco pilots and 729 assistant loco pilots. Speed Vision enables immediate sharing of analysis reports with senior officials via Gmail, WhatsApp, or other digital platforms, enhancing monitoring authorities anticipate this technology will strengthen operational safety and improve loco pilot training and efficiency. This technological advancement represents a significant stride towards improved railway safety, accountability, and Digital India initiatives. Plans are underway to implement this system across other Indian Railways divisions, said officials.
New Straits Times
21-07-2025
- Business
- New Straits Times
Malaysia rises in IMD rankings, driven by green lane reforms and E&E growth
KUALA LUMPUR: Malaysia has moved up the ranks in the IMD World Competitiveness Ranking (WCR) 2025, driven by its electrical and electronics (E&E) sector and regulatory efficiency reforms. The Malaysia Productivity Corporation (MPC) said the improved standing reflects sustained industrial momentum and government-led efforts to create a more business-friendly environment. A key initiative is the Industrial Green Lane (IGL), which expedites development and licensing approvals for industrial projects. "Malaysia's improved competitiveness reflects not just industrial strength, but regulatory transformation on the ground," Director-General Datuk Zahid Ismail said in a statement. "Through IGL, we are enabling faster, cleaner, and more predictable approvals, essential for investment, productivity, and growth." The IGL model streamlines approvals via simultaneous technical briefings, fast-track licence processing and licence issuance within 24 hours of the certificate of completion and compliance. This approach has so far generated RM0.5 billion in local authority revenue, created 20,000 jobs and facilitated billions in investments. In 2024, Malaysia approved RM378.5 billion in total investments, including RM120.5 billion in the manufacturing sector. "The E&E industry led the way with RM55.8 billion, making it the largest subsector, supported by 73.8 per cent foreign direct investment. "The sector continues to thrive through deeper integration into global semiconductor value chains, creation of high-skilled jobs, and stronger supplier ecosystems. "These outcomes align with the National Semiconductor Strategy and the New Industrial Master Plan," it said. Despite the gains, issues like customs efficiency, trade transparency and documentation handling, highlighted in the WCR 2025, remain hurdles to export growth. MPC noted that reducing non-tariff measures and improving trade facilitation are critical for enhancing Malaysia's export competitiveness. "The E&E Productivity Nexus, alongside national agencies, is addressing these challenges through digital adoption, artificial intelligence and Internet of Things-driven energy efficiency and regulatory coordination," it said. "There is also continued emphasis on helping small and medium enterprises adapt to global standards. The government aims to expand IGL implementation nationwide, improve logistics infrastructure and drive data-driven regulatory reforms," it added.
The Sun
09-07-2025
- Business
- The Sun
Expert panel key to public service reforms, says Nga Kor Ming
PUTRAJAYA: The Panel of Experts (POE) must actively contribute to refining national policies and elevating public service efficiency, said Housing and Local Government Minister Nga Kor Ming. He emphasised the panel's role in fostering innovative solutions to support ongoing public sector reforms. Nga noted the POE's impact on Malaysia's rise in the World Competitiveness Ranking (WCR) 2025, where the country jumped 11 places to 23rd globally. 'This marks the highest improvement among all nations,' he said during the POE Steering Committee Meeting. Aligning with the MADANI Economic Framework, Nga urged the panel to adopt a strategic, data-driven approach to help Malaysia tackle global challenges, including economic volatility and climate change. The government is finalising transformative initiatives under the 13th Malaysia Plan (2026–2030), set for tabling in Parliament on July 31. Key proposals include the Fire Services (Amendment) Act 2025 and the Urban Renewal Bill, aimed at enhancing public safety and rejuvenating older urban areas. The meeting, attended by 39 experts and senior officials, focused on housing, local governance, and sustainable urban development. - Bernama
