ECONOMIC TRENDS ECONOMIC DEVELOPMEnTS INSIDE THIS ISSUE: MITI Weekly Bulletin 01 ECONOMIC TRENDS First APEC Senior Ofcials’ Meeting ...........................5 International Investment Agreements in APEC............5 The Trans-Pacic Partnership Agreement ...................6 Program ‘Outreach’ MITI dan Agensi Bersama Pelajar IPTA/IPTS Negeri Kedah .................................6 Malaysia’s Success Story Top Glove Bhd ...................6 MITI Captures - Worldwide................................7 LETTERS TO THE EDITOR ..............................................9 YOUR FEEDBA CK PLEASE! .............. ....................................... 9 BUSINESS OPPORTUNITIES.......................................... 10 IMPORT ENQUIRIES FROM INTERNATIONAL COMPANIES .................................................................. 10 DOING BUSINESS IN SINGAPORE .............................. 11 UPCOMING EVENTS ...................................................... 12 Malaysia - Industrial Production Index, January 2011 ...........................................................1 January 2010 to January 2011 ................................1 Growth January 2010 to January 2011 ....................2 Weekly Number of PCOs and Export Value: AANZFTA, AIFTA, GSP & CEPT Scheme ..............2 MJEPA & MPCEPA.................................................3 ACFTA, AKFT A, AJCEP & MNZFTA.......................3 Weekly Commodity Prices...........................................4 Weekly Price Trend of Commodities ...........................4 Highest & Lowest Prices 2010/2011: Crude Petroleum & Crude Palm Oil ......................4 Volume 13529 March 2011 MALAYSIA - INDUSTRIAL PRODUCTION INDEX, JANUARY 2011 Note: All gures have been rounded to the nearest decimal point. In January 2011, Malaysia’s industrial production index (IPI) increased 1% compared with January 2010. The increase was mainly attributed to manufacturing (4.5%) and electricity (0.3%). Highest IPI by sector for January 2011 was electricity (120.2) followed by manufacturing (114.5). Source: Department of Statistics, Malaysia Source: Department of Statistics, Malaysia CHART 1: MALAYSIA - INDUSTRIAL PRODUCTION INDEX, JANUARY 2010 TO JANUARY 2011
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8/7/2019 MITI Weekly Bulletin Volume 135 - 29 March 2011
First APEC Senior Ofcials’ Meeting ...........................5International Investment Agreements in APEC............5
The Trans-Pacic Partnership Agreement...................6Program ‘Outreach’ MITI dan Agensi BersamaPelajar IPTA/IPTS Negeri Kedah.................................6
Malaysia’s Success Story Top Glove Bhd ...................6
Cumulative tourism receipts improvedby 49% to S$18.8 billion from January
to December 2010, exceeding the year’sforecast range of S$17.5 to S$18.5billion.
The high growth in tourism receipts wasattributed by the Singapore TourismBoard (STB) to higher per capitaspending, strong international visitor arrivals and the opening of two IntegratedResorts (IRs) in 2010. In 2010,International visitor arrivals to Singaporereached 11.6 million, registering a 20%increase year-on-year.
According to the Ministry of Tradeand Industry (MTI), the spending
of incremental visitors (namelytourists who would not have come to
Singapore if not for the IRs) generatedan estimated S$3.7 billion in value-added (or 1.7% of GDP) in the rstthree quarters of 2010.
Singapore’s two Integrated Resorts(IRs) are:
1. Marina Bay Sands (MBS) owned byLas Vegas Sands.
2. Resorts World Sentosa (RWS)owned by Genting Singapore
In terms of employment, the two IRs isestimated to have created 30,300 jobs,out of the 111,500 new jobs generated
by tourist spending in the rst three
quarters of 2010. This compares withthe initial ofcial projection that the IRs
would generate 50,000 to 60,000 new jobs throughout the economy by 2015.
The Government anticipates the IRsto directly bring in more than S$12billion of investment when they are fullycompleted, and generate new businessopportunities for local companies.
Business travellers to Singapore includeMICE delegates which form a signicantsegment of overall visitors. In 2010,the industry reported an estimated 20%surge in sales in the MICE businesses.The MICE industry is expected to growby 10% this year.
2. PHILIPPINES: INCREASED ON KEY POLICY INTEREST RATES
The Monetary Board has increased theBangko Sentral ng Pilipinas’ (BSP) keypolicy interest rates by 25 basis pointsto 4.25% for the overnight borrowingor reverse repurchase (RRP) facilityand 6.25% for the overnight lending or repurchase (RP) facility. The interest
rates on term RRPs, RPs, and specialdeposit accounts (SDAs) were alsoraised accordingly.
Basis for the Monetary Board’s decisionwas to minimise the overall impact of rising ination faced by the country withrespect to global situation pressure onthe country.
Global condition have resulted ininternational food and oil prices toescalated due to the combination of sustained strong global demand andsupply disruptions and constraints.
The latest baseline ination forecastsnow indicate that the 3 to 5% inationtarget range in 2011 could be at risk.The BSP stated that vibrant domesticdemand provides room for a policyinterest rate hike without affecting thecountry’s economic growth prospects.
The last interest rate adjustment wasdone on 9 July 2009.
yang positif, kos pengembangan syarikat mampu
dibiayai oleh dana syarikat sepenuhnya. Keadaan
kewangan yang sihat ini membolehkan Top Glove
menebus kesemua bon mereka sebelum tarikh matang.
Dalam usaha mengisi kekurangan kemahiran
teknikal, Top Glove telah bekerjasama dengan Institut
Kajian Getah Malaysia (RRI) bagi membantu dalam
penyelidikan dan pembangunan (R&D). Penekanan
dalam aktiviti R&D ini bertujuan menjadikan Top Glovesebagai pengeluar sarung tangan bertaraf dunia
yang kos-efektif, seterusnya sebagai Pusat Sehenti
Pengeluaran dan Pembekalan Sarung Tangan.
Demi mengatasi kekurangan sumber tenaga, Top Glove
telah memilih untuk menggunakan tenaga biomass
yang bukan sahaja mampu menyelesaikan masalah
sumber tenaga, malah juga mengurangkan kos.
Selepas dua dekad sejak penubuhannnya, Top Glove
telah berkembang pesat dan kini berbangga menjadi
pengeluar sarung tangan getah terbesar di dunia. Ia
juga disenaraikan di dalam Papan Kedua Bursa Saham
Kuala Lumpur pada tahun 2001, dan seterusnya telah
dinaikkan ke senarai Papan Utama hanya dalam
jangkamasa setahun.
Dari hanya sebuah kilang yang mempunyai tiga tertib
pengeluaran, Top Glove kini beroperasi dengan 20
buah kilang dan 379 tertib pengeluaran di Malaysia,
Thailand dan China. Syarikat ini juga telah mencatatpertumbuhan purata sebanyak 30% hingga 40% jualan
dan keuntungan bagi tempoh 10 tahun yang lepas.
Untuk keterangan lanjut, sila hubungi:
Top Glove Corporation Berhad.
Lot 4969, Jalan Teratai Batu 6 Off jalan Meru
41050 Klang, Selangor Darul Ehsan
Laman web : www.topglove.com.my
Tel : +603-3392 1992
Faks : +603-3392 1291
8/7/2019 MITI Weekly Bulletin Volume 135 - 29 March 2011
3. PHILIPPINES: NATIONAL STANDARDS (PNS) REPORT 2010
The Bureau of Product Standards (BPS)of the Department of Trade and Industry(DTI) has developed and adopted 432new Philippine National Standards(PNS) in 2010.
To date, there are 7,310 PNS at the BPSStandards Data Center and almost 79%of these are aligned to the international
standards of the International
Organization for Standardization (ISO),the International ElectrotechnicalCommission (IEC), and the CodexAlementarius (Codex). To date, 72 PNShave been made mandatory.
PNS will undergo a series of deliberationincluding a circulation to relevant sectorsfor their technical views and comments.
PNS provides for common and repeated
use, rules, guidelines or characteristicsfor activities or their results of a productor service. It makes the development,manufacturing and supply of productsand services more efcient, safer andcleaner. It also facilitates trade betweencountries and makes it fairer as well asprovides government with a technical
base for health, safety and environmentallegislation and conformity assessment.
MITI Weekly Bulletin 08
4. CHINA: RARE EARTH POLICY DEVELOPMENT
On 16 February 2011, the Governmentprovided policy guidelines on rare earthdevelopment:
• China will strive to streamline its rareearth industry within 5 years;
• China will further accelerate industrialconsolidation, upgrading andtechnological innovation to protect the
environment and save resources;• the industry shall maintain rational
production and inventory control, makebetter use of domestic and overseasmarkets and resources, and haveactive international cooperation for ahealthy and sustainable development;and
• the Government will establish andimprove the supervision framework of laws and rules on rare earth industry,impose stricter mining policies toprotect the environment and resourcesand make reasonable plans for miningand exports.
Streamlining of Rare Earth Productionand Supply
In January 2011, the Ministry of Land and Resources announced the
establishment of 11 state-managed rareearth mining zones in Ganzhou, JiangxiProvince, an area rich in ion-absorbed-type rare earth, to protect resources andthe environment.
Currently, China is the world’s largest rareearth producer and exporter supplying95% of global rare earth demand. It is
estimated that China possesses 37% of the world’s total rare earth reserves.In 2010, rare earth export from Chinatotalled US$761 million, up 221% fromthe previous year. Japan and the US arethe major export destinations for China’srare earth in 2010.
In 2010, China reduced export quotas of rare earth by 39%, sparking complaintsfrom major importing countries such asJapan and the US.The Ministry of Commerce has publishedthe rst batch of export quotas of 14,446tonnes for 2011 – 11% lower than the
corresponding period in 2010.Environment Protection Initiatives
In December 2010, the Ministry of Environment Protection approved new
industry standards aimed at reducingpollution and to regulate practices.The new standard is expected topose operational challenges andraise environmental costs. Increasingenvironment concerns have caused thegovernment to impose more stringentrestrictions. This is also to control over-
exploitation of rare earth in undevelopedregions where large deposits are found.
Rare Earth Association
China is expected to establish a RareEarth Association in May 2011.The association will be led by a former senior ofcial of the Ministry of Industryand Information Technology (MIIT)and comprises 90 Chinese rare earthdevelopers and smelting enterprises.The association will assist the MIIT inleading the restructuring and integrationof the rare earth industry and formulatea rare earth reserve system. Access
standards for the rare earth industry arescheduled to be released in the secondquarter of 2011.
5. INDIA: REVIEW OF THE ECONOMY 2010-2011
India has released the Review of theEconomy 2010-2011.
Main highlights:
Domestic Sector
1. Economy• GDP growth in 2010-2011 is
projected at 8.6% amounted toUS$1.72 trillion. This is higher than8.0% and valued at US$1.38 trillionrecorded in the previous year.
• Per capita GDP is estimated to beat US$1,453, compared with US$1,184 in the last scal year.
• GDP for agriculture, industry andservices sectors for scal 2010-2011 were pegged at 5.4%, 8.1%and 9.6% respectively comparedwith 0.4%, 8.0% and 10.1% in the
previous scal year.2. Ination
• Average ination rate based onwholesale price index (WPI) isprojected to be 7.0% in 2010-2011.
External Sector
1. Foreign Trade• India’s merchandise exports in
2010-2011 likely to be US$230.3
billion, with a 31.6% growth fromUS$175.0 billion in 2009-2010.
• Merchandise imports to increase toUS$362.3 billion in 2010-2011 fromUS$295.5 billion in last scal.
• India’s exports during the rst ninemonths of the scal (April-December 2010) has grown by 29.5%, whereasimports grew at 19%.
• India’s merchandise trade decit for 2010-2011 is projected at US$132billion, 7.7% of GDP and is lower compared to 8.5% of GDP in 2009-2010.
• Current account decit for 2010-
2011 is projected at 3.0% of GDP,as compared with 2.8% of GDP in2009-2010.
2. Foreign Direct Investment• Inbound FDI is projected to decline
to US$27.6 billion in 2010-11 fromUS$35.6 billion in 2009-10.
• Outbound FDI is expected toincrease to US$ 18.2 billion during
2010-2011 as compared with US$16.0 billion in 2009-2010.
MeasuresIn order to sustain a 9% growth,several measureswere suggested:• containing ination by focusing on
monetary and scal policies;
• creation of infrastructure work withfocus on the power sector;
• containing current account decit at2%-2.5% of GDP;
• encouraging ow of foreigninvestment;
• greater attention to agriculture
sector;• withdrawal of stimulus packages;• scal consolidation; and• implementation of goods & services
tax (GST)
8/7/2019 MITI Weekly Bulletin Volume 135 - 29 March 2011
Real GDP increased at an annual rateof 2.8% q-o-q in the fourth quarter of 2010, according to the ‘second’ estimatereleased by the Bureau of EconomicAnalysis on 28 February 2011. In thethird quarter, real GDP increased 2.6%.The increase in real GDP in the fourthquarter primarily reected positivecontributions from personal consumption
expenditures (PCE), exports, and non-residential xed investment.
The national unemployment rate fellby 0.4 percentage points for a secondmonth in a row to 9.0% in January 2011.Employment rose in manufacturingand in retail trade but was down inconstruction and in transportation andwarehousing. Employment in most other major industries changed little over the
month. The number of unemployedpersons decreased by about 600,000in January to 13.9 million, while thelabor force was unchanged.
Industrial production decreased 0.1%in January 2011 after having risen 1.2%in December. In the manufacturingsector, output increased 0.3% in
January after an upwardly revised gainof 0.9% in December. Excluding motor vehicles and parts, factory productionrose 0.1% in January. The outputof utilities fell 1.6% in January, astemperatures moved closer to normalafter unseasonably cold weather boosted the demand for heating inDecember. The output of utilitiesadvanced 4.1% in that month. InJanuary, the output of mines declined0.7%.
At 95.1% of its 2007 average, totalindustrial production in January was5.2% above its level a year earlier.The capacity utilisation rate for totalindustry edged down to 76.1%, a rate4.4 percentage points below its averagefrom 1972 to 2010.
US total foreign trade of goods and
services – total December 2010 exportsof US$163.0 billion and imports of US$203.5 billion resulted in a goodsand services decit of US$40.6 billion,up from US$38.3 billion in November,revised. December exports were US$2.8billion more than November exports of US$160.1 billion. December importswere US$5.1 billion more than November imports of US$198.5 billion.
6. USA: ECONOMY
On 1 March 2011, The United States TadeRepresentative (USTR) announced therelease of the 2011 Trade Policy Agendaof the President and the 2010 AnnualReport on US Trade Agreements.
The report elaborated on ve priorityfocus areas on trade:
1. Enhance American economic growthand employment through:• The National Export Initiative (NEI);• Export Promotion Council;• Specic trade priorities in 2011;• The Trans-Pacic Partnership (TPP);
• US Leadership in APEC;• Doha Development Agenda (DDA);
and• Russia’s Accession to the WTO.
2. Enforce America’s rights and protectinnovation in a strong rules-basedTrading System through:• innovation which is the lifeline for
future creation of new productsand services.
• Protection of innovation andenforcement of IPR will be apriority for engagement with itstrading partners.
3. Strengthen Trade Relationship withGlobal Partners:• Key markets have been identied
and further efforts will be engagedto boost the relationship.
• Promising markets identiedinclude Turkey, Ukraine, South
Africa and Indonesia.4. Partner with Poor and Developing
Countries on Trade andDevelopment
• In 2010 the US established thePresidential Policy Directive(PPD) on Global Developmentto help build capacity of selected
developing countries’ governmentsto drive development and eventuallysustain economic growth.
• The programmes offered and to beextended under the PPD include theGeneralized System of Preferences(GSP), the Andean Trade PreferenceAct (ATPA) programme and theCaribbean Basin Initiative (CBI) in2011.
5. Reect and Uphold American Valuesin Trade Policy• Trade liberalisation has been blame
for economic recession as costsoutweigh its benets
• To assure public support on futuretrade policy development, prioritieswill be linked to creating employment,economic growth, considerationon labour and environment,transparency and better publicengagement.
7. USA: TRADE POLICY AGENDA 2011 AND ANNUAL REPORT 2010 ON TRADE AGREEMENTS
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Upcoming Infrastructure Contracts In Qatar: Invitation projects bidding by Qatar’s
Public Works Authority (Ashghal) for 2 packages of projects.(a) Lusail Expressway project
(b) Expressway project besides the Lusail mixed-use development and Pearl Real-Estate
Development
Country : Qatar
Closing Date : 23 May 2011 (Monday)
Summary : Qatar’s Public Works Authority (Ashghal) has invited contractors to submit bids by 23 May2011 for the rst package of the estimated US$700 million Lusail Expressway project. Theroad will run from the Arch roundabout to the area surrounding the Ritz Carlton hotel in Doha.The rst package will be 5.8km in length and will have about 16 lanes, some of which will betwo or three levels. The expressway will also include three major interchanges, slip roads,
underpasses and bicycle lanes. Construction work will take 36 months to complete.The second package, which has not yet been tendered will run besides the Lusail mixed-usedevelopment and the Pearl real-estate development. The expressway will be about 12km long.
Qatar’s Public Works Authority (Ashghal) is to provide project management services for theDoha Expressway and other major road projects over the next ve years. Ashghal is alsoplanning to appoint another project management consultant for local and minor road projectsmanagement consultant for local and minor road projects.
From 2011-12, Ashghal plans to tender 13 road projects that total 344km in length. Thisprogramme will include the 15 km-long packages 11 of the Doha Expressway and the 107kmNew Orbital Highway. From 2012-14, Doha plans to build new roads totalling 136km in length.
Further information could be obtained from the Qatar’s Public Works Authority (Ashghal)ofcial website: http://www.ashghal.gov.qa/English/Pages/default.aspx
APPAREL, GARMENT AND ACCESSORIES
PROTRADE UK LTDOakdale 15 Viceroy Parade71 High Road, N2 8AQ East Finchley,London, United Kingdom.Tel : 44 20 8444 6880Fax : 44 20 8444 6587Email : [email protected] : Mr. Ameet Patel
Director Product(s) : Sportswear, T-shirts and Singlets
Malaysian companies can access EnterpriseOne which provides wide overview of how to start or do business in
Singapore (at http://www.business.gov.sg/EN/StartingUp/ForeignBusinesses/) including information on government
assistance programmes, regulations and e-services for businesses from various Ministries, government agencies
as well as business associations. The site is managed by SPRING Singapore which is the equivalent of SME Corp.
Another useful website is Contact Singapore’s link for investors on doing business (http://www.contactsingapore.
sg/investors/investing_in_singapore/doing_business_in_singapore/) which provides information on registration of business, nding premises and recruitment.
Companies may also wish to refer to EDB’s guide to investing in Singapore (http://www.sedb.com/edb/sg/en_uk/
index/why_singapore/Guide_to_Investing_in_Singapore.html) that provides similar information as like MIDA.
8/7/2019 MITI Weekly Bulletin Volume 135 - 29 March 2011
This year will be MATRADE’s fourthparticipation in this fair. WHO’S NEXT Parisis a specialized international fashion trade
show which is integrated in the ‘Paris Capitalof Creation’ programme. WHO’S NEXT hasmanaged to strengthen its internationallinkages, featuring over 50% internationalbrands of total brands in the show. A mix of countries, colours and styles, the WHO’SNEXT fashion shows convey valuableinformation about fashion and are creativityvectors. It’s chance not to be missed!
Indonesia Building Technology(Indobuildtech) Expo is an annual event for
focusing on the developments in buildingmaterial and technologies. It is the biggestand most inuential international buildingmaterial exhibition taking place every year in Indonesia, covering a total exhibition oor space of 13.000 sqm, was joined by morethan 300 building materials enterprisesfrom local and overseas (excluding 58foreign exhibitors) and visited by 35.000professionals. The motive and objectivebehind the event is to bring forward therecent developments in the elds of construction activities.
IMPORT GOODS FAIR 2011Venue: Pacic Hall, COEXREPUBLIC OF KOREA
Date : 09 - 11 Jun 2011Closing Date : 20 Apr 2011
Import Goods Fair or IGF has been heldsince 2003 and organized by the KoreaImporters Association (KOIMA), the onlyassociation consisted of professional buyingagents in Korea. In IGF2010, there are 162booths for 151 companies from 34 countriesand managed to attract 12,097 people,where 4,206 are trade visitors. Amongthe major targeted product categoriesinclude food & beverages, children’sgoods, home decoration goods, bathroomsupplies, cosmetics, DIY items, jewellery &accessories, sports & leisure items, electric &electronic appliances, and daily necessities.
This event is rst and foremost a networkingevent, bringing together everyone workingin the commercial aviation after-market for a series of formal and informal networkingactivities, built around an informative andthought provoking 2 day conference and10,000 sq m exhibition hall, with more than250 of the world’s leading MRO suppliersexhibiting. Whether your business is aircraftmaintenance, component repair, technicalprocurement, supply chain management,or any related support activity, this is theone ‘must attend’ event in the trade show
calendar. Malaysian participation will offer opportunity to attract UK and internationalcompanies within the aerospace, aircraftmaintenance and air line purchasing tooutsource their products from Malaysia.
National hardware show 2011 is one of thepremier tradeshows in the USA consisting of nine different events. These nine events arefocused on paint & accessories, hardware &
tools, home wares, lawn, garden & outdoor living, plumbing & electrical, storage &organization, tailgate products, investorsspotlight and international sourcing.
SAUDI ARABIADate : 25 - 28 Apr 2011Closing Date : 14 Apr 2011
Saudi building & interiors exhibition (SBIE)is a perfect marketing platform from which toaccess the vibrant and lucrative Saudi marketand take advantage of the ongoing boomin the construction and interiors sectors.Established as Saudi Arabia’s key event, theannual exhibition is highly supported with
participation from international companies,leading Saudi manufacturers, agents anddistributors, and a wide spectrum of highprole professional visitors from acrossthe kingdom and neighbouring gulf states.Providing a comprehensive showcase for manufacturers and suppliers, whether newto the market launching new products or simply wishing to increase brand awareness,the successful dual combination of buildingand interiors makes SBIE an integral part of any marketing strategy for Saudi Arabia.
SIAL CANADA 2011, THE 8THINTERNATIONAL FOOD &BEVERAGE EXHIBITION
Venue: TORONTO METROCONVENTION CENTRETORONTO, ONTARIOCANADA
Date : 11 - 13 May 2011Closing Date : 15 Apr 2011
SIAL (Salon International deL’agroalimentaire) this year, the three daystradeshow is expecting 530 exhibitors from30 countries and 12,000 visitors from over 60 countries event prole the leading NorthAmerican agrifood show. SIAL Canadaoffers to North American and worldwideproducers and distributors, a powerfulbusiness platform to make a way intothe north American marketplace visitor’sprole a complete food technology showwhich is for bakers, restaurants, snacks &sweet manufacturers & person belongs tofood industry. Consultants, convenience