Recent business highlights from South East Asia
- The Malaysian Investment Development Authority (MIDA) approved RM31.7 billion in investments for the first seven months of this year. International Trade and Industry Minister, Datuk Mustapa Mohamed says ‘We have already received about RM21.3 billion, a big increase of about 76 per cent, compared to the same period last year.’
- Thailand should work with other Asean countries to seek more tourism opportunities in a bid to make the most use of free trade agreements in the region, says the Tourism Council of Thailand (TCT). ‘As a leader in Asean tourism, we should look at the big picture and push for joint tourism promotion to appeal to the world community. This will help us gain new knowledge, which will benefit tourism development in the future,’ said Kongkrit Hiranyakit, president for policy and planning of the TCT. ‘Thailand has high potential to be the tourism centre for Asean due to its location and products. It should look not only at how the Asean Economic Community (AEC) will increase tourist arrivals and incomes but also how the scheme can promote Thai investors in other Southeast Asian nations and attract foreign investment.’
- A Food Standards Amendment (Truth in Labelling – Palm Oil) Bill 2010 has been rejected by Australia’s House of Representatives Economics Committee to the relief of Malaysian palm oil producers. The bill is still to come before parliament for a final vote. The committee has released a majority report recommending the Bill not be allowed to proceed because of the risk that Malaysia and Indonesia could take the dispute to the World Trade Organisation (WTO). The Bill proposed legislation explicitly labelled palm oil.
- An international study on visionary organisations, conducted by international consultancy firm &samhoud, shows that Malaysian organisations lead the world in creating inspiring corporate visions, and in the implementation of those corporate vision throughout all layers of the company.