Malaysia’s 2023 budget focuses on economic recovery
Malaysian Finance Minister Tengku Abdul Aziz on October 7 submitted the draft State budget 2023 to the legislature, which allocates 372.3 billion RM (81 billion USD) to the economy, up from 332 billion RM in 2022 and 322 billion RM in 2021.
Hanoi (VNA) – Malaysian FinanceMinister Tengku Abdul Aziz on October 7 submitted the draft State budget 2023to the legislature, which allocates 372.3 billion RM (81 billion USD) to theeconomy, up from 332 billion RM in 2022 and 322 billion RM in 2021.
Up to 43.3% of the sum hasbeen earmarked for the ministries of finance, education and health.
Notably, the Government alsoallocated cash aid to the low-income households and individuals.
The 2023 budget will also focus on welfare forcitizens, businesses and the economy, with an expectation to continue economicrecovery following COVID-19 pandemic apart from economic structure reform.
ꦏ Minister Tengku noted that the Malaysian economygrew by 5% in the first quarter and 8.9% in the second quarter. It is expectedto continue the solid growth in the third quarter./.
Malaysia's financial system and equity market have continued to function in a sound and orderly manner without any disruption to financial intermediation, according to Malaysian Finance Minister Zafrul Abdul Aziz.
Malaysia has officially ratified the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) following years of careful deliberation and consultation by the government, becoming the 9th nation to have approved the deal.
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will come into force for Malaysia on November 29 this year, Senior Minister of International Trade and Industry Mohamed Azmin Ali has said.
The Republic of Korea (RoK), China and Japan agreed on May 3 to reinforce the regional financial safety net, along with members of the Association of Southeast Asian Nations (ASEAN), by launching a new financing facility programme meant to extend greater support in case of a financial crisis.
A technical issue combined with an extreme heatwave was blamed for a series of explosions at a military base that killed 20 soldiers and injured several others in Cambodia on April 27, the country’s Ministry of Defence said in a May 2 statement as reported by the Xinhua news agency.
The Customs Department of Thailand is scheduled to commence the collection of value-added tax (VAT) on imported goods sent via postal services, regardless of the goods value, starting in May.
A lecturer from Chulalongkorn University’s Faculty of Medicine has warned Thais to be more vigilant against COVID-19, saying infection rates appeare to be worsening with higher hospital admissions, deaths and severe cases.
Malaysia should harness the collective expertise and resources to drive sustainable growth and development of the halal industry, according to Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
Laos has officially restored the 10% value-added tax (VAT) rate starting May 1, in a bid to support the country’s budget revenue and socio-economic development.
The ASEAN Future Forum 2024 (AFF 2024) entered its second plenary session in Hanoi on the afternoon of April 23, discussing ways to ensure comprehensive security for the people-centred ASEAN Community.
The first session of the ASEAN Future Forum 2024 (AFF 2024) in Hanoi on April 23 focused on fast and sustainable growth for the Association of Southeast Asian Nations (ASEAN).
The Canada-ASEAN Business Council (CABC) and the ASEAN Alliance on Carbon Markets (AACM) have signed a Memorandum of Understanding (MoU) to strengthen collaboration and accelerate the implementation of carbon crediting programmes across Southeast Asia.
ASEAN Secretary-General Kao Kim Hourn reaffirmed ASEAN leaders' commitment to empowering the youth to unleash their full potential when he had a dialogue with ASEAN youth in Hanoi on April 22 on the sidelines of the ASEAN Future Forum (AF 2024).
The Thai Government is being urged to increase the proportion of renewable power generation to more than the target of 50% set in the power development plan (PDP).
The Centre for Volcanology and Geological Hazard Mitigation (PVMBG) of Indonesia on April 21 lifted its tsunami advisory issued previously following the eruption of Mount Ruang in Sitaro district of North Sulawesi province.
Thailand expects to export about 1 million tonnes of durian, valued at an estimated 130 billion THB (3.53 billion USD) this year, with most of the shipments to China, according to Minister of Agriculture Thammanat Prompao.
The 72nd meeting of the ASEAN Working Group on Intellectual Property Cooperation (AWGIPC) and related meetings are being held by the Ministry of Science and Technology’s Intellectual Property Office (IPO) of Vietnam in the central city of Da Nang on April 22-26.
Enhancing regional food security and tackling the pressing challenges of climate change will be key agendas defining Malaysia’s ASEAN Chairmanship in 2025, Speaker of the Dewan Rakyat (lower house) Johari Abdul told the press on April 19.
Illustrative image (Photo: Internet) 
