Latest news with #ZafrulAbdulAziz.
The Star
2 days ago
- Business
- The Star
Malaysia records approved investments of US$21bil in 1Q
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.— MUHAMAD SHAHRIL ROSLI/The Star KUALA LUMPUR: Approved investments in Malaysia rose by 3.7% in the first quarter from a year earlier to RM89.8bil (US$21.2bil ), the Malaysian Investment Development Authority said on Wednesday. Foreign investments were RM60.4bil, or two-thirds of the total, and domestic investments accounted for RM29.4bil, the authority said in a statement. "The investment environment in 2025 is expected to remain challenging due to continued geopolitical and macroeconomic headwinds stemming from the U.S.-China trade war," Trade Minister Tengku Datuk Seri Zafrul Abdul Aziz said in the statement. Tengku Zafrul said that while protectionist policies and supply-chain frictions would affect corporate decision-making, he expected Malaysia to attract more investment, given that the broader Asian economy was increasing its share of global GDP. The top three sources of foreign investment in the quarter were Singapore with RM28.3bil, the United States at RM9.9bil and China at RM7.9bil. The services sector attracted RM57.8bil on the approved investments, the authority said. - Reuters
The Star
15-05-2025
- Business
- The Star
Asean seeks to expand membership in RCEP, CPTPP to boost regional economic integration
Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.— MUHAMAD SHAHRIL ROSLI/The Star KUALA LUMPUR: ASEAN is seeking to expand membership in two key trade agreements - the Regional Comprehensive Economic Partnership (RCEP) and Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) - as part of efforts to strengthen regional economic integration. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said the matter was discussed when he chaired the ASEAN Caucus Meeting held in conjunction with the 31st Asia-Pacific Economic Cooperation (APEC) Ministers Responsible for Trade (MRT) Meeting in Jeju, South Korea. "Among the matters discussed today include the expansion of RCEP and CPTPP membership,' he told Bernama. To date, only four ASEAN countries are members of the CPTPP, namely, Brunei, Malaysia, Singapore, and Vietnam. Tengku Zafrul is leading Malaysia's delegation to Jeju as trade ministers from the 21 APEC member economies gather for the two-day MRT meeting that starts today. Tengku Zafrul said the recent United States tariff announcement had a significant impact on intra-ASEAN trade dynamics, as well as that with trading partners, particularly in sectors entrenched in the global supply chains. According to him, ASEAN's adherence to the principles of neutrality and non-alignment allows the region to voice its position independently in forums such as APEC, which he described as an important platform to raise the concerns and interests of the world's fifth-largest economy. During the meeting, he said, ASEAN unanimously reaffirmed its stance to uphold the multilateral trading system and reject any form of unilateralism. "We must be firm in upholding multilateralism, a core principle of the World Trade Organisation, to boost regional economic integration,' said Tengku Zafrul. As part of efforts to strengthen regional cooperation, Tengku Zafrul said, ASEAN also plans to hold special consultative sessions with major trading partners, starting with China and Japan. He said the ASEAN Economic Ministers (AEM)-China Ministry of Commerce (MOFCOM) as well as AEM-Japan's Ministry of Economy, Trade and Industry (METI) Special Consultations will be held on May 20. Tengku Zafrul also stated that ASEAN needs to adopt a united approach and speak collectively during the APEC MRT Meeting, particularly in addressing the current global tariff issue. "Malaysia is fully committed to making this year of its ASEAN chairmanship a defining year for deeper ASEAN economic integration,' he added. - Bernama
