Azreena Azizan

KUALA LUMPUR (Oct 18): Budget 2025 will increase inclusivity, the equitable distribution of wealth and address social issues while ensuring the welfare of the population through prudent fiscal management and targeted subsidies. According to the Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz, Miti will continue to work closely with all stakeholders to ensure that the implementation of the presented initiatives runs smoothly and contributes to the prosperity of the country's economy. Among the key initiatives include the RM1 billion New Investment Incentive Framework which targets the electricity and electronics (E&E) sector and high-value activities; technology talent development with significant investment in science, technology, engineering and mathematics (STEM) training as well as technical education and vocational training (TVET) and artificial intelligence (AI). The New Investment Incentive Framework which focuses on high-value activities compared to the existing incentives, which are based on specific products, is expected to be implemented in the third quarter of 2025. Other initiatives include RM200 million for the Strategic Joint Investment Fund (CoSIF) and the NIMP Industrial Development Fund (NIDF) to support the growth of small and medium enterprises and mid-sized companies and promote innovation. This also includes a RM40 million ringgit initiative under Matrade to help Malaysian exporters on the international stage, particularly exploring new markets in Africa, Latin America, and the Middle East as well as an allocation of RM750 million to EXIM Bank to encourage local exporters to expand operations to foreign markets. "I am optimistic that the measures of the 2025 Budget will be able to further increase the momentum of the country's economic growth," said Zafrul in a post on his official Instagram page on Friday.

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Driving national change through meaningful dialogue and collaborative action, amongst industry players Contribute to meaningful change in SDG sectors such as Agriculture, Education, Energy, and more. EPF Workstreams fosters better engagement among civil society, government, businesses, and local communities, addressing the challenges of fragmented interactions. Request a demo: [email protected] Start a discussion: #SocialImapct #Community #National #SocialDialogue #Engagement

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Minister of Communications Fahmi Fadzil said the Memorandum Of Understanding (MOU) signed between The Malaysian Communications And Multimedia Commission (MCMC) and the Malaysia Investment Development Authority (MIDA) will undertake programmes and initiatives aimed at leveraging the use of 5G networks in vertical sectors and small and medium enterprises (SMEs). “This also supports the objectives of the New Industrial Master Plan (NIMP 2030), which outlines four missions including advancing economic complexity, accelerating digitalisation, promoting net-zero carbon emissions, and ensuring economic security and inclusivity,” he said at the event in Kuala Lumpur today. “MCMC will provide technical support and training to prepare for 5G integration, emphasising the importance of leveraging 5G technological advancements for the involved industries. What we are witnessing today is not merely technological progress but also a glimpse into the future of innovation, connectivity, and socio-economic development, he said. Fahmi added the forthcoming collaboration between MCMC and MIDA is evidence that a collaborative approach is the best way to drive these initiatives forward. This approach will ensure faster and more efficient adoption of 5G, meeting the needs of various sectors. Through this collective effort, the government aims to unlock the full potential of 5G, drive innovation, transform industries, and shape a more connected Malaysia. The government looks forward to more such partnerships among related industry players to further accelerate the development of 5G in the country. As of May 31, 2024, 5G coverage in populated areas nationwide has reached 81.7%, with a total of 14.1 million 5G subscriptions in Malaysia during the same period. In developing the country’s digital economy, 5G can help foster entrepreneurship by empowering SMEs to expand their businesses. The development of 5G aligns with the government’s goals to achieve inclusive growth and ensure that digitalisation benefits all segments of society, he said. The contribution of 5G to the national economy is expected to increase Gross Domestic Product (GDP) by creating new services and industries, establishing new business models, and enhancing productivity and efficiency across various touchpoints. The event which was also witnessed by Investment, Trade and Industry, Minister Tengku Zafrul Abdul Aziz, who said the strategic cooperation between MITI and MIDA is aligned with the aspirations of the MADANI Economy and represents a crucial step towards realizing Malaysia’s goal of digital economy contributing 25.5% to Gross Domestic Product (GDP) by 2025. With the MoU, MIDA and MCMC will strengthen collaboration in efforts to promote and accelerate the adoption and use of 5G technology, particularly in the manufacturing and services sectors in Malaysia.

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https://lnkd.in/gXqkZg3p Missed my talk last night? No worries, check out my website for the slides! Last night, my team and I spoke about the new norm for government officers in this new era of accessible AI and LLMs. It's important for us to understand that AI isn't here to replace us, but rather to augment our skills. If your skills matter, then they do so all the more now, to steer AI applications in the way they ought to go. Hard to believe? We released a new product tutorial for SENSE in our slides, to show you how it is ultimately humans that take control, not AI. We also discussed product development in the Singapore government. One of the great goals in product management is how to create products that delight our user. Our secret? To focus more on solving the frustrations that users have in solving their problems, rather than solving their problems directly. That empowers users and places them in the pilot seat in their daily work. If you think about it, our latest product SENSE doesn't try to create policy - we make it easier for policy makers to make policy. Finally, we shared about how we developed SENSE hand-in-hand with government agencies, and how we will even go the far extent to work on actual policies with agencies, just to get a valuable glimpse of how their workflows work. GovTech engineers are ultimately public servants, and we must develop deep policy know-how so that we can work more effectively with agency partners. SENSE is going to be way more than just AI and LLMs. GovTech would really be letting you down if all we did was repackage LLMs without value adding government processes. Keep your eyes peeled, because we will be bringing a lot more content, tutorials and videos to you soon, as we launch SENSE in July 2024! https://transform.gov.sg

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Let's continue our discussion on ICPT and talk about the ICPT subsidy. For the period between 1 July to 31 December 2024, the government will provide targeted subsidies amounting to RM2.2 billion. You may be wondering where this money comes from? In the electricity industry, there is a fund called Kumpulan Wang Industri Elektrik (KWIE). It was created in 2016 and is under the purview of the Energy Commission to support the Imbalance Cost Past-Through (ICPT) mechanism and cushion the impact of electricity tariffs on consumers. KWIE receives revenue when there is excess rebate under the ICPT mechanism. Rather than transfer all the rebate to the consumers, the Energy Commission will take a portion of the rebate and transfer it to the KWIE to build up the fund. The idea is to save for a rainy day. When fuel prices increase and an ICPT surcharge is implemented, the government will use the KWIE fund to soften the impact on consumers. Recently , KWIE fund has depleted because it has not received any revenue and its funds were used to cover rebate expenses as mitigation to reduce the impact of electricity tariffs on consumers. The Auditory General's Report on federal agencies for 2022 found that KWIE to be among the top 5 loss making agencies in 2022, with a loss of RM990 million. So how did the government continue with the ICPT subsidy even though the KWIE fund is making a loss? Well the government will have to use funds from the national budget. This is one of the reasons why the government has implemented targeted ICPT subsidies. What are your thoughts on KWIE and targeted subsidies? Let's discuss. #electricity #ICPT #MELP #KWIE #targetedsubsidies

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Green Biz Ready Event by CIMB The "Cooler Earth Sustainability Series" by CIMB Malaysia is an initiative that focuses on promoting sustainability practices and awareness to accelerate ecosystem towards building a sustainable tomorrow. ESG stands for Environmental, Social, and Governance. It refers to a set of criteria that investors and other stakeholders use to evaluate a company's operations and how it manages risks and opportunities related to sustainability and societal impact.In conclusion, ESG (Environmental, Social, and Governance) criteria are pivotal in evaluating a company's sustainability and societal impact. By considering these factors, investors and stakeholders can promote responsible business practices that benefit both the environment and society while ensuring sound governance. As awareness grows, integrating ESG considerations into decision-making processes becomes essential for fostering long-term value creation and resilience in a rapidly changing world.#cimbgreenbizready #cimb

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I had the opportunity to share my views on the Energy Exchange Malaysia (ENEGEM) with BFM 89.9 - The Business Station It was an honour to represent CTSS from Asia School of Business and grateful for chance given by Prof. Renato Lima de Oliveira and Tun Hizami Hashim to speak live on radio. #ENEGEM is the first step in unlocking #CrossBorderInterconnection to increase #Security of the system, #Sustainability and #Resiliency of the region in supporting the #ASEANPowerGrid initiative; and to make our #JUSTEnergyTransition along with the collaborative nature of combating #ClimateChange. This also could be a potential towards an #OpenEnergyMarket.

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Good strategy / policy, but failure of execution. Execution is everything. It’s not mere “operations”. It’s what makes or breaks the entire project and thus organisation. All the best ideas, with wrong execution or wrong timing, still ended in failure. https://lnkd.in/gGp_ddat

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