Trading economics malaysia

Finance Minister Zafrul Aziz has said Malaysia 's inflation may reach around 11%. (Photo: theedgemarkets.com) Kuala Lumpur (VNA) – Finance Minister Zafrul Aziz has said Malaysia's inflation may reach around 11% if the government does not implement subsidies for essential items like fuel. The minister told the press that Malaysia's inflation is forecast to be 2.2%-3.2%. In fact, for the first six months of the year, inflation was around 2.5%, and that was largely due to the large size of subsidies that the government introduced. Malaysia's inflation, as measured by the consumer price index, increased 3.4% year-on-year in June, led by costlier food, the Department of Statistics Malaysia said on July 22. Nonetheless, Tengku Zafrul acknowledged that the current blanket subsidy policy is not sustainable for the country, but it is necessary for economic recovery in the short term. The government is managing the economy cautiously, and the monetary policy has been … [Read more...] about Malaysia’s inflation may hit double digits: Finance Minister

On August 1, the Ministry of Industry and Trade issued Decision No.1514/QD-BCT on the application of measures to prevent the evasion of trade remedies for some cane sugar products originating from Cambodia, Indonesia, Laos, Malaysia, and Myanmar (AC02.AD13-AS01). The conclusion from the Ministry of Industry and Trade on six businesses not being subject to anti-circumvention tax on trade remedies, including two customers of ASL LAW According to Decision No.1514, Vietnam will apply measures to prevent the evasion of trade remedies for a number of cane sugar products under HS codes 1701.13.00, 1701.14.00, 1701.91.00, 1701.99.10, 1701.99.90, and 1702.90.91. The above cane sugar products are imported into Vietnam from Cambodia, Indonesia, Laos, Malaysia, and Myanmar. The order and procedures for applying anti-circumvention measures of trade remedies to Vietnam’s cane sugar products will be implemented in accordance with the Law on Foreign Trade Management. This decision … [Read more...] about ASL LAW successfully defends in lawsuit against circumvention of trade remedies

A positive economic outlook gives employers in Vietnam confidence to increase recruitment in the second half of 2022, though not as high as the previous six-month period. The hiring intentions of Vietnam’s employers are estimated to increase in the second half of 2022, as positive growth rates are reported in various sectors. Remarkable economic recovery drives hiring intentions in H2/2022. Photo: Nguyen Viet Thanh/ILO Vietnam This forecast was announced in the Vietnam Employment Outlook Survey Q3 & Q4 2022 by ManpowerGroup Vietnam. About 88% of the surveyed enterprises plan to increase or at least maintain the current headcounts as compared to 95% of the equivalent index in the first half of 2022. The strongest recruitment intentions were reported in Manufacturing & Processing, Wholesale, Retail & Trading, Banking & Finance, Professional Consulting Services, Construction, Food & Beverage & Hospitality - Accommodation and Real Estate. … [Read more...] about Economic recovery drives hiring in H2/2022

Despite being levied high duties, Thai cane sugar products still flood the market due to signs of safeguard evasion through other countries. (Photo: SGGP) The MoIT affirmed that Decision No.1514 on the application of safeguard measures to prevent trade remedies evasion was issued based on an investigation that was carried out objectively and transparently following the provisions of domestic laws and in line with international commitments. On the basis of collecting and summarizing information and opinions provided by relevant parties, including the domestic manufacturing industry, foreign manufacturing and exporting enterprises, importing enterprises, and competent authorities, the investigation determined that the use of sugar materials originating from Thailand to produce and export some cane sugar products to Vietnam by enterprises from Cambodia, Indonesia, Laos, Malaysia, and Myanmar is the act of evading anti-dumping and anti-subsidy measures applied to Thai sugar products. … [Read more...] about Vietnam imposes safeguard duties on sugar products from five more countries

Illustrative image (Source: Reuters) Kuala Lumpur (VNA) - Malaysia is on the road to recovery in terms of headline economic numbers, but Finance Minister Zafrul Abdul Aziz has warned of risks to the recovery amid an uncertain global economic outlook. He said the numbers speak for themselves as Malaysia had a strong first quarter this year, with gross domestic product ( GDP ) growth of 5%, and is on track to achieve a GDP growth rate of 5.3 to 6.3% in 2022. Meanwhile, the unemployment rate dipped to 3.9% in both May and June 2022, showing a declining trend for 14 consecutive months now, he said in his opening keynote address at the Malaysian Student Leaders Summit XVI 2022 on August 8. The minister said Malaysia’s trade performance has also remained resilient, maintaining its growth momentum as trade data showed double digit growth for 16 consecutive months since February 2021. However, he said Malaysia is also facing risks and challenges to recovery such as the … [Read more...] about Malaysian finance minister warns of risks to recovery

ASEAN member states last week considered an initiative termed the ASEAN Green Deal, which is expected to enable the region to make a gradual transition toward a green future that is sustainable, resource-efficient, resilient, and competitive. ASEAN member states vowed to further tighten cooperation in economic recovery, with new actions advanced The deal will embrace many sectors such as infrastructure, energy, manufacturing, agriculture, transport, the environment, finance, and innovation. The member states reiterated their joint commitment to keeping their markets open for trade and investment, promoting and accelerating trade and investment facilitation initiatives, enhancing transparency, and refraining from imposing unnecessary non-tariff measures to ensure supply chain connectivity, particularly for food, medicines, medical supplies, and other essential products. “Together with efforts in recovery, ministers have underlined the urgent need to boost cooperation … [Read more...] about ASEAN ramps up sustainable initiatives to combat wider global uncertainties

Global wheat consumption is headed for its biggest annual decline in decades as record inflation forces consumers and companies to use less and replace the grain with cheaper alternatives, amid growing food insecurity. Consumers may face even higher wheat prices in the second half of 2022 as importers, who until now have supplied cargoes bought several months earlier at cheaper prices, pass on the costs from when wheat prices scaled decade highs in May. Global wheat consumption in July-December could drop by 5%-8% from a year ago, analysts, traders and millers say, much faster than the U.S. Department of Agriculture's forecast 1% contraction. "There is going to be a drop in wheat demand for animal feed in Europe and China. Wheat demand for human consumption has also slowed in key importing countries around the world," said Erin Collier, an economist at UN's Food and Agriculture Organisation. "High prices have raised food security worries in parts of Asia and Africa where … [Read more...] about Analysis: As wheat prices soar, the world’s consumers vote with their feet

Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn (Photo: AP) Phnom Penh (VNA) - The 55th ASEAN Foreign Ministers' Meeting ( AMM-55 ) and related meetings have successfully concluded, with some 30 documents on regional cooperation adopted, Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn said on August 6. "We have reviewed the progress made thus far to strengthen ASEAN's community building, advance regional integration, and enhance our cooperation with external partners," he told a press conference. The official said that over the course of three and a half days, 19 meetings were held back-to-back, with the participation of foreign ministers and representatives from 38 countries. On the COVID-19 pandemic, he said the ASEAN foreign ministers encouraged the effective operationalisation of the ASEAN Regional Reserve of Medical Supplies for Public Health Emergencies. He added that the ministers also stressed the need to strengthen supply … [Read more...] about Cambodia announces outcomes of AMM-55 and related meetings

In February, Vietnamese State President Nguyen Xuan Phuc paid a state visit to Singapore, with both nations vowing to continue cementing economic ties. How has this cooperation been implemented so far? Singaporean Ambassador to Vietnam Jaya Ratnam Singapore and Vietnam’s strong economic, trade, and investment ties are underpinned by decades of consistent and meaningful engagement between our governments and peoples. During President Nguyen Xuan Phuc’s state visit to Singapore earlier this year, he and President Halimah Yacob reaffirmed these ties and committed to further collaboration. Our leaders also oversaw the signing of an MoU on economic and trade cooperation between our two countries. We are starting from a very strong base. Singapore has been the leading source of foreign direct investment into Vietnam for the past two years. Singapore is now Vietnam’s second largest foreign investor, with total registered capital of nearly $70 billion. This demonstrates the … [Read more...] about Singapore and Vietnam commit to further strong collaborations

The study found that 61 per cent of the surveyed businesses plan to increase their headcounts, while 27 per cent will maintain their workforce. Manufacturing and processing to account for the strongest recruitment Manufacturing and processing toped the industries planning to increase recruitment within the next six months with 19 per cent, followed by wholesale, retail, and trading (12.7 per cent), professional consulting services (9.5 per cent), banking and finance (9.5 per cent), construction (6.4 per cent), food and beverage, hospitality, and leisure (6.4 per cent), and real estate (6.4 per cent). Vietnam's hiring intentions for H2/2022 The most in-demand job levels include executive and junior levels (49 per cent). The runners-up are blue-collar workers (24 per cent), senior management (18 per cent), C-suite (5 per cent), and fresh graduates without experience (4 per cent). The survey also reveals that over 70 per cent of the surveyed companies have … [Read more...] about Employers expect hiring to increase in H2