Pakistan’s prime minister on Wednesday ( Jan 15 ) welcomed a first-of-its-kind agreement with the World Bank directing US$ 20 billion in lending to the cash-strapped nation over the upcoming decade to address development issues like the impact of climate change as well as boosting private-sector growth. In a postContinue Reading
Q: Is there a chance that there will be an overreliance on Singapore organizations investing in this Hz given Johor’s close contact and its interdependence with Singapore? What is the strategy to kind of entice regional businesses, particularly those with international Businesses?
In all the debate surrounding JS-SEZ, I’ve always made the point that it would be like a huge reduction if JS-SEZ only looked at Singapore and Malaysia. But also, when it comes to investments, our see is that JS-SEZ is going to be quite attractive to international investors.  ,
I only have a few choices if I were a global investment looking to grow and established myself in ASEAN. I can go to Vietnam, I can go to Indonesia, I can go to Malaysia, or suggest Singapore. But then again, if I were to go to Singapore, Singapore has its in place, but it also has its limits, and vice versa for Johor. And so, the interaction that we can give is designed to attract international opportunities, and that by itself, I think, will be able to handle this problem of over-reliance on Singapore businesses.  ,
If we can accomplish the vital mass, which is driven by international investments into JS-SEZ, then both Malaysian and Singapore businesses may benefit from the spill, which is undoubtedly beneficial.  ,
Q: The perspective for this Says is to rival some of the effective areas in countries like China, United States, Germany, but we know that those are extremely different from what we have below, where it requires two different places, different areas. What would it take to finally be comparable to some of these prosperous regions?
I continue to believe that ASEAN will expand, and that if we become more included, common sense will succeed in this region. We are much stronger as an economy of 700 million plus people.  ,
This optimistic JS-SEZ, exclusive economic zone between two nations, which is unique in this world, is a manifestation of the first few steps toward more connectivity between two ASEAN economy, and I hope it will help us have a better opportunity of utilizing the ASEAN probable of this huge market.  ,
So so, while it is very unique, and therefore it has a set of difficulties, it furthermore addresses that need to press for more inclusion between economies in ASEAN. Let’s begin with Johor and Singapore, and I hope that if it succeeds, it will encourage further inclusion in ASEAN beyond Malaysia and Singapore because we really need to share our sources and see how we can collaborate to benefit our respective talents in the future.
Q: Now that this agreement has been signed, what are the following steps to take right away to take this Says to life?
There’ll be a series of job streams that have to happen in reverse. At the planning level between Malaysia and Singapore, there will be a high level committee that starts working on the blueprint, because it’s a chicken and egg ( situation ). We didn’t do a template until we copper out the guidelines. So now that, with the arrangement, all rules and pledges and shared perspective are sealed, then we can proceed to the next stage, which is to create the template. And with the blueprint, it will make it much simpler for Malaysian and Singapore agencies to promote jointly, while also providing all the administrative infrastructure, which, in my opinion, is already in place to facilitate the first wave of investments.
Malaysia already has the Iskandar Malaysia Facilitation Centre, which facilitates administrative processes by bringing all government agencies under one roof to make sure investments are processed much more quickly. And in terms of the governing infrastructure, it’s already been built into the agreement. Then we just need to get going with this. So I believe that we will learn more about the vision for each node in the year 2025.
Malaysia’s premier said on Thursday ( Jan 9 ) that it wants to optimize its location and become a catalyst for the diversification of energy and supply chains this year. This year, Malaysia wants to become a leader in the electronics industry and Islamic finance. Addressing an economical website, PrimeContinue Reading
” AirTag is an item, not a part or portion of tools”, Industry Minister Agus Gumiwang Kartasasmita told a media briefing on Wednesday, referring to the Apple monitoring system. ” Until this afternoon, the government doesn’t have any reason to issue the domestic portion level license for Apple materials, especiallyContinue Reading
BENGALURU: Funding in India’s space business, a vital part of the region’s ambitions to become a global power, plummeted by 55 per share in 2024 to US$ 59.1 million from US$ 130.2 million the past year, according to data from marketplace intelligence platform Tracxn. The cut, which came amid aContinue Reading
There are a few aspects. One is the country’s passion for petrol-electric variants. Asian automakers have placed a lot of weight on hybrid cars, and profits there are projected to continue to rise until 2027.
Toyota, a market leader and a force of nature, has been slow to adopt Batteries, and everyone else has followed suit.
Second, Japan has fewer incentives to go fully energy than other nations, despite their green policies that strongly subsidize EVs.
According to a new study by Greenpeace, Toyota, Honda, and Nissan are among the least environmentally conscious automakers in the world.
Japan’s GDP is on the verge of a collapse if it doesn’t switch to producing EVs, as auto manufacturing accounts for nearly a fifth of its exports, according to a statement from the Climate Group non-profit. If the automobile sector is in decline, this could also lead to significant job losses.
Asian automakers are now attempting to reclaim their position in the world of electric vehicles by investing more in solid-state batteries that demand more quickly and last longer than those made by China.
In March, Nissan and Honda had previously agreed to study the viability of a proper agreement in making EV vehicles and systems, to cut costs and improve profitability.
Nissan and Honda then announced in August that they would work together to develop self-driving software and introduce an electric vehicle ( EV ) by 2030.
The company’s strategy includes Mitsubishi Motors, of which Nissan is the largest investor and holds a 27 % interest.
The three companies may have a combined monthly production of about 8 million cars.
Though Japan’s automakers have to get up in areas like power prices and vehicles design,” they are not much behind”, said Mr Vivek Vaidya, associate companion at the Frost &, Sullivan firm.
” China did not produce the first commercially successful EV. It was manufactured by Nissan- the Nissan Leaf”, he pointed out to CNA’s East Asia Now.
If the consolidation is successful, Nissan will have the financial resources of a bigger mate and be able to “bring in better designs at a cheaper and better rate,” he added. Honda may also have access to a company with an EV and a device. ” This is a win-win situation for both”.
Thailand has stated that it is enthusiastic about enhancing communication between nations.
For starters, it is expanding to a twin track rail system.  ,
Additionally, it is pushing for the construction of a land bridge that connects the Thai Gulf and the Andaman Sea in southwestern Thailand.
The premier job, scheduled to be prepared by 2028, aims to create a new global trade route and reduce travel occasion for vessels, said Thai Deputy Prime Minister and Transport Minister Suriya Juangroongruangkit.  ,
There is now” a lot of overcrowding” in the Malacca Straits, he noted.  ,” We foresee that in the future, a lot of transport lines will have to rush and lane. But if there is a property bridge, it is ( be used as an alternative )”.
But system alone is not enough, market players noted.
” The key question now is, can they get it ( to be ) seamless, can they get it ( to be ) affordable”? said Westports ‘ executive president Ruben Emir Gnanalingam,  , who runs the largest mentioned port operator in Malaysia.
” Because then you didn’t promote it, you can’t showcase it as an opportunity, because it’s going to cost you more”.
Southeast Asian nations must work up, according to experts, in order to benefit from financial connectivity.
” When you look at ASEAN member states, yes, they are unified. Yes, ( there is ) ASEAN importance. But they’re generally competing with each other”, said Mr Chris Humphrey, executive chairman of the Singapore-based EU-ASEAN Business Council.  ,
” They’re competing with each other for FDI ( foreign direct investment ) flows. They’re competing with each other for business. We need to make sure that rather than competing, we do perform to each other’s advantages”.
Chinese online retailers Temu and Shein have suspended operations in Vietnam as they attempt to register their e-commerce services with the Southeast Asian nation’s authorities, the two companies announced on Thursday ( Dec. 5 ). The trade ministry said it was also concerned about potential sales of counterfeits, and theContinue Reading
However, industry players said some companies may not want to get into business with Russia out of fear they would face trade obstacles given the ongoing sanctions.
For instance, the United States’ latest sanctions sought to further curtail Russia’s use of the international financial system.
Standardising currency used in business with Russia may therefore emerge as a challenge, noted chairman of the Small and Medium Enterprises Association of Malaysia William Ng.
Also, while Russia may have developed its own state-of-the-art software and information technology applications, they would be a hard-sell in Southeast Asia, he added.
“We have been reliant on the American (and) European vendors for many years. To now shift the reliance to Russia as an option will take a bit of learning,” he said.
“At the end of the day, we know what is the elephant in the room: That is the issue of Ukraine. Until and unless Russia solves it – and only Russia can solve this issue – everybody else will be at risk (of sanctions),” he added.
Still, Malaysia, which will take on the leadership of ASEAN next year, is eager to engage with Russia and BRICS member countries to diversify from its traditional markets, while maintaining ASEAN centrality amid intense superpower rivalries.
Already, ASEAN has benefitted from its trade ties with Russia.
In 2023, Russia’s trade turnover with ASEAN grew by 15 per cent from the previous year.
The BRICS grouping, which was formed to act as a counterweight to the West and originally comprised Brazil, Russia, India, China and South Africa, added 13 partner countries in October, including ASEAN nations Malaysia, Vietnam, Indonesia and Thailand.
ASEAN, with a combined GDP of almost US$4 trillion, is the fifth-largest economy in the world.
Chinese car makers are the most popular in Indonesia’s EV market, surpassing other Asian competitors.
According to September sales figures by Gaikindo, the best-selling electric cars were from Chinese brands BYD, Wuling and Chery.
Recently, Beijing pledged to ramp up its investment in Indonesia’s EV industry, after a bilateral meeting between both countries’ top diplomats in a bid to help Jakarta chase its EV dream.
Indonesian authorities have set a production target of 600,000 EV units by 2030.
Already boosting the industry is Chinese carmaker Wuling, which inaugurated its factory in West Java in 2017 and currently produces 120 electric vehicles per day. These vehicles are sold to the Indonesian market and exported as well.
Wuling is planning to expand its EV services.
“For the future, we want to expand again where we want to build an electric car battery facility here. And we have scheduled for the production of electric car batteries to begin at the end of 2024,” said public relations manager at Wuling Motors Indonesia Brian Gomgom.
BYD, the world’s largest EV manufacturer, is also investing US$1.3 billion to build an EV plant in Indonesia. Factory operations are expected to begin in January 2026. Its investment in the country is expected to contribute to the industry, economy and jobs.