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Top Story: Energy Commission (EC) faces tricky task of ensuring fair competition
The Energy Commission (EC) has rightly instituted open tenders and renegotiation of power purchase agreements (PPAs) to make the industry more transparent and efficient. However, the commission now has a trickier task to ensure fair competition, as its efforts so far has enabled Tenaga Nasional Bhd (TNB) to expand its monopoly of the sector, industry observers claimed.
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National Affairs
+ New Umno polls format will end money politics
Top Story: Najib believes journey towards AEC well on course
Datuk Seri Najib Tun Razak believes that the journey towards ASEAN Economic Community (AEC) in 2015, is well on course and irreversible. In his message to participants of the 10th ASEAN Leadership Forum, the prime minister said the achievement of the AEC and the commencement of negotiations for the Regional Comprehensive Economic Partnership Agreement (RCEP) creating the world's largest free trade agreement (FTA), were exciting prospects for ASEAN. Similarly, International Trade and Industry Minister Datuk Seri Mustapa Mohamed is confident the AEC can be realized by 2015.
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Top Story: Malaysia needs more value-added economic activities to advance, says PM Najib
The country cannot remain a commodity producer if it wishes to advance, said Prime Minister Datuk Seri Najib Tun Razak. He said the cause of low income for a nation and an individual was when it did not get involved in value-added economic activities. “An example are African nations. They cannot develop because they are still stuck in the commodity producer phase. He said African nations had to break free from the clutches of multi-national corporations before they could advance.
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Top Story: Government Will Continue To Liberalize Key Sectors, Especially Services - Najib
The government will continue to liberalize key sectors, especially services, and do more to attract, retain and promote talent, so that Malaysian businesses and workers prosper in a fiercely competitive global economy, said Datuk Seri Najib Tun Razak. He said the government would also make the changes needed to secure Malaysia's economic future by building a knowledge-based, services-led economy that escaped the 'middle income trap'.
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Top Story: Expansion of ITA will boost global economy, says APEC
APEC said the case for expansion was laid out by public and private sector experts yesterday in Kuala Lumpur at its Workshop on the Advancement of Trade in IT Products. The workshop, which ends today, was co-sponsored by Taiwan, Japan, Singapore and the US. Mohd Ridzal Sheriff, deputy secretary-general of Malaysia's Ministry of International Trade and Industry, said a breakthrough in the expansion of product coverage was within reach.
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2012 Malaysia International Trade and Industry Report: Launched on June 24, 2013, the Report highlights the performance of Malaysia's international trade and industry in year 2012, and MITI's roadmap in 2013.
Top Story: Najib woos investors, promises open economy
Putting the Economic Transformation Programme (ETP) at the centre of his pledges, Najib explained that his ambition for the second term is to build a sustainable economy by stimulating more foreign investment and boosting domestic demand. “The ETP has a definite vision of the kind of economy it is intended to create,” said Najib in his keynote address at Invest Malaysia 2013 here.
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Top Story: Further liberalization of economy crucial, says Najib
Further liberalization of the economy will be crucial to sustain investor interest and to build home-grown companies that can compete on the world stage as Malaysia looks at measures to tackle near and long-term economic challenges. Prime Minister Datuk Seri Najib Tun Razak said more must also be done to increase women's participation in the workplace, rationalize subsidies and recognize the high performers in society.
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Top Story: Government to implement Industrial Sectoral Specific Coalition
The government will implement the Industrial Sectorial Specific Coalition by incorporating all the key players from the private and government sectors to ensure collective action in fighting corruption. Minister in the Prime Minister’s Department Datuk Paul Low said the approach which was mostly targeted at high-risk areas such as construction and transportation would also tackle any other sectors when they were ready.
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Top Story: Government fully committed to development of IP financing
The government is fully committed to the development of intellectual property (IP) financing, and its use as collateral by small and medium enterprises (SMEs), to expand businesses. Ministry of Finance Deputy Secretary-General (Policy) Datuk Mat Noor Nawi said for a start, the government has initiated a RM200 million IP financing scheme, to be offered through Malaysian Debt Ventures Bhd.
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Top Story: Trans-Pacific Partnership pact to benefit Malaysian businesses
MITI secretary general Rebecca Fatima Sta Maria said there are special accesses to safeguard SMEs that have been discussed in the TPP negotiations. “In all the agreements that we do we make sure the SMEs are taken care of. There are safeguards, flexibilities we look for special access for SMEs. In fact, there is a whole session on SMEs and SME developments. It is important to say that we do not give away everything. We know the concerns of SMEs, we know the concerns of our sensitive sectors and these have been taken on board. We do not make decisions without getting the clearance from the government.”
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