RM28 Billion Target by 2025 for Malaysia’s Timber Exports Malaysia’s timber exports drive the timber industry’s growth The timber industry remains a vital sector of Malaysia’s economy and is essential in sustaining its development. Malaysia is actively planning to enhance its timber industry as part of the National Timber Industry Strategic Plan 2021-2025. The overall…
Plantation Industry to Become More Sustainable in Malaysia When questioned about her plans for the plantation industry, Datuk Zuraida Kamaruddin, the Plantation Industries, and Commodities Minister, said there are a few plans in motion. According to her, the automation and mechanisation of the said industry are already on their way to becoming more environment-friendly and…
Malaysia’s Economic Growth Forecast Stays at 5.5% by World Bank 5.5% will remain Malaysia’s economic growth forecast for 2022, according to the World Bank. This is thanks to the strong rebound where consumer demand is concerned. Private consumption growth for Malaysia’s economic growth is predicted to hit 8.5% in 2022. This is the fastest pace…
New Minimum Wage in Malaysia Come 1 May The Malaysian Government will implement a new minimum monthly wage standard in Malaysia. This will commence from 1 May despite the situation. The new minimum wage will be set at Rm1,500. However, some employment sectors will get some leeway to defer the implementation. This includes companies that…
MySDG Foundation to Integrate Coordination of Grants The Malaysia Sustainable Development Goals Foundation, or the MySDG Foundation, was launched on the 27th of January is set to become an integration of grants. According to Datuk Seri Tengku Zafrul Abdul Aziz, he mentioned that stakeholders created numerous funds for various significant causes, including environmental sustainability, wildlife…
2022 National Economic Recovery Is Underway with SSM New Initiatives Announcement SSM (Suruhanjaya Syarikat Malaysia), also known as The Companies Commission of Malaysia, announced several new initiatives that will boost national economic recovery in 2022. SSM announced several new initiatives, as well as the continuation of the existing five initiatives that were introduced in 2021.…
SME Association Against Suggestion to Implement GST in 2022 Malaysia’s SME Association is against the suggestion to implement the Goods and Services Tax (GST) in the year 2022 at the proposed rate of 4%. The Association believes that this will disrupt business operations and affect business recovery costs. While the GST system is better than…
Malaysia Creates 320,000 Jobs via PenjanaKerjaya 3.0 The National Employment Council (NEC) rolls out its latest initiative as Malaysia creates 320,000 jobs. The Malaysian Government is pushing new initiatives to ensure that the nation weathers the economic fallout from the global pandemic. The Ministry of Finance (MOF) reports that the National Employment Council (NEC) is…