Cautious Optimism on the Economic Outlook for the 2nd Half of 2019 as Pakatan Harapan (PH) Approaches its First Year in Government

Media Statement by Dr. Ong Kian Ming, Deputy Minister of International Trade and Industry (MITI) on the 8th of May, 2019

When the Quarterly Confidence Indicator for the 1st Quarter of 2019 was published by the Department of Statistics, Malaysia (DOSM), in the Business Tendency Survey report, this figure dropped to negative 2.2% from positive 7.1% in Q4 2018.[1] The February 2019 figure for the Leading Index Economic Indicator, also published by DOSM, showed a 2.2% fall from 118.9 to 116.3, the largest fall since April 2009.[2] The Nikkei Purchasing Manager’s Index (PMI) for March 2019, published by IHS-Markit, a market research firm, showed a figure of 47.2, the sixth straight month for which this index was under the 50 mark (more on the significance of this later).[3] Total trade for the first quarter declined by 1.5%. The negative news surrounding the Malaysian economy in the 1st quarter of 2019 was also felt “on the ground” through slower retail sales.

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Belt and Road Forum 2019 – Expectations and Opportunities for Malaysia

Speech by Dr. Ong Kian Ming, Deputy Minister for International Trade and Industry (MITI) on the 16th of April, 2019

  1. When President Xi Jinping first espoused the One Belt One Road (OBOR – 一带一路) policy in 2013 (later renamed as the Belt and Road Initiative or BRI in English), it generated a great deal of public interest and excitement outside of China[1]. There were three reasons behind this public interest, especially among countries in Asia.

2. Firstly, it tapped into a desire among Asian countries to develop economically in a manner similar to China, on the back of significant infrastructure development in highways, railways, airports, ports and other public infrastructure. China’s potential involvement in partly funding some of these infrastructure projects stirred excitement among many Asian countries which required heavy infrastructure development. These infrastructure developments are estimated to be in the trillions over the next decade.

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A detailed investigation will be carried out on newly appointed Open AP companies to ensure the terms of eligibility under the New Open AP Policy are fulfilled.

Media statement by Dr. Ong Kian Ming, Deputy Minister of International Trade and Industry (MITI) on the 29th of March 2019

After the statements MITI issued on the 13th and 14th of March 2019, MITI received several complaints and reports regarding new companies that did not comply with such conditions as they did not have the financial capabilities and no experience in sales and distribution of vehicles. In addition, there have also been complaints that these companies have plans to sell their allocated APs to third parties. As a follow up to these complaints, MITI will carry out checks on the latest information from these companies including:

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