New Industrial Master Plan

The government’s implementation of the New Industrial Master Plan 2030 to propel the country’s economic growth.

Four missions have been formulate to drive industry transformation at a large scale

Encourage industries to innovate and produce more sophisticated products
To embrace technology and digital transformation to dive into innovative and enhance productivity
Pushing to net zero through sustainable practices and green initiatives
Safeguard the economic security and inclusivity via enabling supply chain security

Interventions for high-impact sectors like E&E, Chemical, EV, Pharmaceuticals, Minerals and metal and due to industry’s growing trajectory to the creation high-skilled jobs

Value-added and improvement in automation and technological advancements expected to grow the median salary in the manufacturing sector to reach from Rm1,976 to Rm4,510.

To provide the immediate roll-out of NIMP implementation several mission-base projects have been identify. These fundamental projects are expect to accelerate the developments of an inclusive ecosystem that integrates SME’s into the value chain and rally the entire industry.

The New Industrial Master Plan 2030 expect costing some RM95 billion in total investment over the seven year long plan period of its implementation towards higher value-added activities is expect to provide employment for 3.3 million people through the creation of high-skilled jobs.

Amazon Web Services (AWS) invest in Malaysia by 2037

September 1, 2023 / 0 comments / 672 views / Tags: Economy, Investment, IT, Malaysia, property, property agent, Real estate / Category: Article and lifestyle

Amazon Web Services

Amazon Web Services announced to invest at lease MYR 25.5 billion in Malaysia by 2037.

AWS is a subsidiary of Amazon.com, inc. by 2006.

It is a comprehensive and widely used cloud computing platform that offers a variety of cloud services including computing power, storage, databases, analytics and more.

Infrastructure and services

AWS provides a vast of cloud-based infrastructure and services to individuals and businesses or organisations.

The popular offerings include

Amazon EC2 ( elastic compute cloud )for scalable victual servers
Amazon S3 ( simple storage service ) for object storage
Amazon RDS ( relational database service ) for manage relational databases
Amazon Lambda for server less computing.

AWS has a global network of data centres and availability zones allowing customers to deploy their applications and services worldwide while ensure redundancy and high availability.

Played a significant role in transforming the IT industry by enable to scale their resources on-demand, reduce infrastructure costs and innovate more rapidly.

What it can bring to country when invests in Malaysia

When Amazon Wed Services invests in Malaysia it can bring several benefits and features to the country. follow are some of the potential advantages;

Job recreation – often lead to the creation of jobs in various sectors including IT, data centre operations and support services.
Economic growth – contribute to the country’s economic growth by attracting other businesses startups to use AWS services
infrastructure development – Invest in local infrastructure networking and data centre facilities to establish and operate data centres and cloud services
Skills development – typically provides training and certification programs to local IT professionals
Support for startups – offers support and resources for startups and small businesses, this can encourage entrepreneurship and innovation in Malaysia.
Reduced latency – having local data centres can reduce latency for businesses and users in Malaysia when accessing cloud services.
Redundancy recovery – builds multiple data centres in a region which can provide redundancy recovery capabilities to reduce crucial for businesses.
Attracting foreign investment – AWS’s presence can signal to other international tech companies that Malaysia is a favourable destination for investment to attract more foreign direct investment (FDI) and boost the country’s tech ecosystem.
Global reach – easily expand their operations globally leveraging AWS’s extensive global network of data centres and services.

However it’s can also be challenges about data privacy and security, potential environmental impacts and competition with local providers.

Government to address these issues ensure that the investment is mutually beneficial for both parties and the Malaysia economy as a whole.

OPR Interest Rate By Bank Negara Malaysia

July 10, 2023 / 0 comments / 1122 views / Tags: Article, bank negara malaysia, Lifestyle, OPR rate, property, property agent / Category: Article and lifestyle

Overnight Policy Rate

Bank Negara Malaysia (BNM) cut its overnight policy rate (OPR) by 25 basis points (bps) to a record low of 1.75% .

Including latest Overnight Policy Rate cut, BNM has slashed the OPR four times so far this year for a cumulative 125bps reduction
Jan 22, 2020, BNM cut the OPR by 25 bps to 2.75% followed by another 25bps reducing on March 3 to 2.5%.
On May 5, BNM slashed the OPR by 50 bps to 2.00 and now with the latest low cut rate of 1.75%.

The Impact of covid -19

Due to the impact of COVID-19 on the global economy is severe. Global economy conditions remain weak with global growth to be negative for the year.

Broad-based weakness in labor markets and precautionary behavior by households and businesses could affect the recovery going forward and the pace and strength of the recovery, however, remain subject to downside risks emanating from both domestic and global factors.

Several major economies have begun relaxing measures to contain the COVID-19 pandemic, leading to the gradual resumption of economy activity.

OPR provides additional policy stimulus to accelerate the pace of economy recovery. The MPC (Monetary Policy Committee) will continue to assess evolving conditions and their implications on the overall outlook for inflation and domestic growth.

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