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Kedudukan ekonomi Malaysia menjadi lebih mencabar dengan keadaan ekonomi dunia yang tidak menentu semenjak tahun lepas. Namun demikian, Malaysia masih mampu mencapai KDNK pada kadar 4.9% pada suku kedua tahun 2015. Walau bagaimanapun, dengan langkah-langkah yang diumumkan oleh YAB Perdana Menteri pada 14 September 2015, kita harap Malaysia akan mampu bertahan.
Sebagai Pengerusi ASEAN tahun ini, MITI telah berjaya menganjurkan Mesyuarat Menteri- Menteri Ekonomi ASEAN Ke-47 (AEM) dan Mesyuarat-Mesyuarat Berkaitan pada 22 sehingga 25 Ogos 2015. Dalam mesyuarat ini Menteri-Menteri Ekonomi ASEAN telah membincangkan mengenai keadaan ekonomi serantau ke arah penubuhan Komuniti Ekonomi ASEAN (AEC), serta pelaksanaan langkah-langkah penubuhan AEC, terutama penyelesaian komitmen yang dipersetujui dalam Pelan Tindakan AEC 2015.
Saya amat berpuas hati dengan kemuafakatan dan kata sepakat yang telah dicapai di kalangan rakan-rakan Menteri Ekonomi ASEAN malahan juga dengan rakan-rakan dialog ASEAN, ini akan memperkukuhkan lagi usaha-usaha kearah pencapaian matlamat AEC.
Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar has been named chairman of the Special Economic Committee.
Other members in the 10-men committee are former Minister in the Prime Minister’s Department in charge of Economic Planning Unit Tan Sri Nor Mohamed Yakcop, Khazanah head Tan Sri Azman Mokhtar, economist Tan Sri Andrew Sheng, Tan Sri Azman Yahya, CIMB Group chairman Datuk Seri Nazir Tun Razak, Datuk Seri Dr K. Govindan, Prof Datuk Dr Noor Azlan Ghazali, Datuk Abdul Farid Alias and Datuk Seri Saw Choo Boon. Prime Minister Datuk Seri Najib Tun Razak said that the committee would convene its first meeting next week.
“They are to meet on a weekly basis but if there is a need, the meeting would be held more often. “The committee is also to report directly to the Prime Minister,” he told a press conference here Wednesday. Najib said the committee has been told to act fast to address the present economic situation, including the slide of ringgit.
“Malaysia’s economy has done fairly well. This demonstrates continued investor confidence in the Government of Malaysia. This is also testament to Malaysia’s structural economic fundamentals, which underscores the resilience of the country’s economy, especially when one considers the challenges we face with external headwinds, the drop in oil prices and the rise of the US dollar,” Minister Mustapa said.
The total investments approved were in 2,487 projects and are expected to generate about 101,780 job opportunities, many of which will be in high technology and high value-added industries. The services sector continued to account for the largest share of total potential employment in the economy with 60,750 job opportunities or 59.7% of the total, followed by the manufacturing sector with 39,990 job opportunities (39.3%) and primary sector with 1,040 employment opportunities (1%).
Revisions to previously published real GDP data show that economic growth was slightly slower over the past three years than first reported. The revised data reveal an all too familiar pattern that show consensus expectations and the expectations of policymakers have been far too strong for far too long. The new reality appears to be that 2 percent economic growth, a pace that used to be thought of as weak, is now strong enough to cut into the excess slack in the labor market and pave the way for higher short-term interest rates.
This past months’ data raised concerns that the housing recovery is faltering once again. New home sales unexpectedly declined in June and sales for the prior three months were revised down by a collective 49,000 homes. With the revisions, sales during the important second quarter came in slightly below those of the first quarter, suggesting that the housing market is losing momentum. Single-family starts also fell for the second straight month, slipping 0.9 percent in June. In addition to the disappointing news on new home sales, pending home sales also slipped in June and home price appreciation cooled considerably across many metro areas. To top it all off, the homeownership rate tumbled another 0.3 percentage points during the second quarter, hitting its lowest level since 1967.
Still recovering from transitory factors, economic growth strengthened in the second quarter. Given this backdrop, although the fundamentals for commercial real estate (CRE) were largely unchanged during the quarter, they remain strong. Valuations continued to rise, while the average cap rate across all property types compressed further. Transaction volume and cap rate compression will likely be led by non-major markets in the coming quarters.
A cost-benefit analysis of the Trans- Pacific Partnership (TPP) deal will be ready soon, according to Malaysia’s International Trade and Industry Minister Mustapa Mohamed.The US-initiated TPP covers nearly 40 per cent of the global economy and includes 12 countries. “We have made a commitment to the public that we would do a cost-benefit analysis and it’s almost done. We will continue to engage with various stakeholders, and of course, there might be amendments to some laws,” Mustapa added. He noted that negotiations were ongoing without any conclusions, with the earliest for the talks to be concluded at the end of 2017 or early-2018.“There had been expectations that the negotiations would be substantially concluded by the end of July in Hawaii, but that did not happen.
Foreign Direct Investments (FDI) in Malaysia from its ASEAN peers is expected to gain momentum with the ASEAN Economic Community (AEC) becoming a reality from Dec 31 this year. Minister of International Trade and Industry (MITI) Dato’ Sri Mustapa Mohamed said the sustained removal of barriers among the 10-member grouping, had led to an expansion in intra-ASEAN trade and investments, from US$1.22 billion in 2000 to US$24.4 billion in 2014.
Malaysian SMEs that have made inroads into ASEAN: in the auto sector, for example, companies like Ingress Auto Ventures and APPICO Hi-Tech both started as SMEs but have now emerged as regional players in that sector; and in the food sector, Julie’s, Marrybrown, Ramly, Mamee, Hup Seng, Bangi Kopitiam have successfully accessed the ASEAN market. These are just a few examples of over 1000 Malaysian companies operating in the region, many of them SMEs. Our task is to ensure that these are the norm and not the exception. Benefits for MSMEs include also as vendors and OEMs of the larger companies as well as in franchising and e-commerce.