Greetings from MASSA !

2023 was an eventful year. The economic trends favouring the Asia Pacific, especially ASEAN bodes well for Malaysia.

In this April newsletter, we feature the Republic of Djibouti, a republic with a population of just under 1 million located in a strategic position on the edge of the Red Sea where 60% of worldwide traffic passes through. Under Djibouti’s Vision 2035, Djibouti had conveyed its aspirations to become the Singapore of Africa, leveraging its strategic location, and ground access via international road corridors & railways to the greater East African region.

The Export-Import Bank of Malaysia Berhad (EXIM Bank) had shared their report on the Malaysia Global Connect: Malaysia-Djibouti Business Forum on 29 November 2023 where EXIM Bank, in collaboration with WAAFI Bank, the Djibouti National Investment Promotion Agency (NIPA), and supported by MATRADE led a delegation to Djibouti. This Forum brought Malaysian delegates to Djibouti with the aim to foster economic ties and strategic collaborations between the two countries. The Forum also saw closed-door dialogues with Djiboutian Ministers, networking & breakout sessions and insights into Djibouti as a gateway for the East African market with a population totalling 220 million.

This newsletter reports on MASSA’s various engagements that included meetings with the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) and a Courtesy Call on H.E. Md Shameem Ahsan, High Commissioner of Bangladesh to Malaysia. The core theme of these meetings was on promoting business, trade and investment between Malaysia and the South-South developing countries.

MASSA is also focusing its efforts to feature discussions, innovations and insights on digital transformation and green transformation. Through our three-part collaboration with the Selangor Human Resource Development Centre (SHRDC), two webinars had been organised on the themes of sustainable manufacturing and smart manufacturing. Do look out for our announcement & registrations for the 3^rd instalment of this collaboration soon.

MASSA led a visit to IJM IBS Sdn Bhd in Rawang, Selangor. This visit brought MASSA & its members and network to learn about Industrialised Building System (IBS) and robotic assisted manufacturing that combines the values of sustainable and smart manufacturing affording a flexible and low-waste manufacturing system.

We want to thank our members, ex-officio, contributors, and partners for your support to date. MASSA remains committed to present to members, trade and investment leads from the South-South countries.

To that end, several events including visits and seminars to keep an eye out for are in the works. Do look out from our weekly Circulars and postings in our website www.massa.net.my.

We look forward to meet members at MASSA’s upcoming events.

Thank you.

Ng Su Fun

Editorial MASSA

Tan Sri Azman Hashim
President
MASSA 

2023 was a challenging year. Numerous headwinds resulting from geopolitical tensions, supply chain disruptions, inflationary pressures, and trade restrictions amongst others dampened the initially positive expectations for the year. Nevertheless, the global economy still performed better than expected with Japan’s remarkable post-pandemic recovery, the US aversion of recession and the Asia Pacific’s robust performance.

In spite of the challenging global context, Malaysia’s economy in 2023 grew by 3.7%, normalising from the 8.7% rebound in 2022. Headline and core inflation for 2023 averaged 2.5% and 3% respectively. Resilient domestic demand, labour market improvements, recovery in the tourism sector and supportive domestic policy are among some of the key factors that buoyed the domestic economy against headwinds that included weak external demand, commodity production & global supply chain disruptions and geopolitical tensions.

In 2024, the Malaysian economy is expected to grow at a projected 4.3 – 4.4% owing to favourable conditions in domestic expenditure, recovery of trade activity, and the upturn in the global technology cycle especially benefitting Malaysia’s E&E and semiconductor sectors.

The global outlook for 2024 is underpinned by the challenging global environment under the strain of wars, geopolitical conflict & uncertainty. The World Bank projected that global growth for 2024 to be 2.4%, while the OECD and IMF projected 2.9% and 3.1% respectively. It is expected that a soft landing would be possible owing to broadly balanced global growth particularly driven by strong optimism for growth in the Asia Pacific region, recovery of global supply chains and rising real income supported.

MASSA will continue its business engagements and collaborative efforts with Government agencies, fellow business associations, both old and new, and most importantly, with our South-South developing country partners towards raising awareness and building business preparedness for incoming trends, changes and especially, business opportunities for its membership.

MASSA is also cognisant of the developments in the sphere of human capital development, green transformation, climate change & ESG, digital transformation & AI amongst others, and we hope to bring to our readers and members’ attention these pertinent topics in an effort to raise awareness and preparedness for their respective innovation journey. I do encourage your active participation in the value-added events organised by MASSA and to deliberate their resulting opportunities.

I appreciate the continuing support and cooperation of all members, especially my fellow Executive Committee members with your attendance, participation and contributions at our regular meetings.

I also wish to thank all our supporters who have contributed valuable and insightful articles, and our sponsors of our Newsletters for 2023.

I wish everyone a happy, healthy and successful 2024. Best wishes for a ‘Selamat Hari Raya’.

Tan Sri Azman Hashim
President
9 April 2024

MASSA was represented by Ms Ng Su Fun, Executive Secretary. Representatives from the Expertise Resource Association (ERA), led by President, Mr Wong Lian Kee were also present at the meeting.

(from left-to-right)
Mr Rubaiyat Ahsan, Joint Secretary General, BMCCI, Mr Pranab Kumar Ghosh, First Secretary (Commercial), Bangladesh High Commission, Mr Shabbir Ahmed Khan, President, BMCCI, Ms Ng Su Fun, Executive Secretary, MASSA, Mr Wong Lian Kee, President, ERA, Ms Toh Bee Ling, Hon. Treasurer, ERA, Mr Chen Kok Song, Hon. Asst. Treasurer, ERA, Mr Andy Oh, ERA and Mr Mahbubul Alam, Vice-President, BMCCI.

Ms Ng Su Fun, Executive Secretary, MASSA and MAJECA delivered the Welcome Remarks.

Ts. Dr. Chua Wen-Shyan, Certified COSIRI Assessor (CCA), Head of Malaysian Smart Factory 4.0, SHRDC giving his presentation.

(from left-to-right)
Ms. Nur Syuhaida, MASSA Secretariat, Ms. Rehana Parvin, First Secretary (Political), Mr. Pranab Kumar Ghosh, First Secretary (Commercial), Ms. Farhana Ahmed Chowdhury, Counsellor (Political) and Head of Chancery of the Mission, H.E. Md Shameem Ahsan, High Commissioner of Bangladesh to Malaysia, Ms. Ng Su Fun, Executive Secretary of MASSA, Mr. Wong Lian Kee, President of ERA, Ms. Toh Bee Ling, Honorary Treasurer of ERA, Mr. K.S. Chen, Assistant Treasurer of ERA and Mr. Andy Oh Ah Hock, Executive Committee Member of ERA.

‣ President’s Statement

‣ Editorial

‣ Country Feature: Democratic Republic of Timor-Leste (Timor-Leste)

‣ Message of H.E. Ambassador Amarjit Singh Sarjit Singh, Ambassador Extraordinary and Plenipotentiary of Malaysia to the Democratic Republic of Timor-Leste

‣ Country Feature – Timor-Leste

‣ Diary of Events

‣ 5 September 2023
6th Showcase Malaysia – Seminar: Deepening Bangladesh and Malaysia’s Economic Relationship: Role of a Trade Agreement

‣ 12 September 2023
Meeting at EXIM Bank

‣ 13 September 2023
Country Presentation by the Economic Development Board (EDB) Mauritius at EQ Hotel, Kuala Lumpur

‣ 15 September 2023
e-Commerce Association of Bangladesh (eCAB) and eCAB Women Forum Courtesy Call on MASSA

‣ 27 September  2023
MASSA-CILT-MAPAN Webinar: Environmental, Social and Governance (ESG) and its Adoption in Malaysia via Zoom

‣ 9 October 2023
Briefing on the Malaysia – Djibouti Business Forum at EXIM Bank Malaysia, Kuala Lumpur

‣ Forthcoming Events

Greetings from MASSA !

2023 had been another eventful year. This edition of the Newsletter, we report on several of MASSA’s engagements with South-South countries.

The International Cooperation and Development Division (ICADD), Department of Multilateral Affairs, Ministry of Foreign Affairs, Malaysia had facilitated a discussion between MASSA and the Embassy of Malaysia in Timor-Leste on 3 August 2023. Following that, through the good office of the Embassy of Malaysia in Timor-Leste, MASSA is pleased to feature The Democratic Republic of Timor-Leste in this newsletter issue. We are also further pleased to receive a Message from His Excellency Amarjit Singh Sarjit Singh, Ambassador Extraordinary and Plenipotentiary of Malaysia to the Democratic Republic of Timor-Leste addressed to the readers of our Newsletter. We place on record our appreciation to His Excellency and the good office of the Embassy of Malaysia in Dili for the message and article on Timor-Leste. MASSA looks forward to further engagements to bring MASSA members and readers to discover more about Timor-Leste.

The December edition reports on MASSA’s engagements with Bangladesh through its participation at a seminar on the occasion of the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI)’s 6^th Showcase Malaysia on 5 September 2023 and a Courtesy Visit on 15 September 2023 from the e-Commerce Association of Bangladesh (eCAB) and eCAB Women Forum.

Additionally, MASSA had also engaged in discussions with EXIM Bank on 12 September 2023 and, this culminated in a Briefing on the Malaysia – Djibouti Business Forum on 9 October 2023 at EXIM Bank premises. MASSA and its members were also invited to participate in a Country Presentation by the Economic Development Board (EDB) Mauritius on 13 September 2023 at EQ Hotel.

This December issue also reports on MASSA’s collaboration with the Chartered Institute of Logistics and Transport (CILT) Malaysia and the Malaysian Association of Public Advocacy for Nature (MAPAN) wherein a webinar on ESG and its Adoption in Malaysia was organised on 27 September 2023. This webinar featured opening remarks by MASSA President, YBhg Tan Sri Azman Hashim and experience sharing by MASSA’s member, IJM Corporation Berhad and its subsidiary, IJM IBS Sdn Bhd.

As we come to the close of 2023, we are thankful to MASSA members, article contributors, and collaborators for their persevering support throughout the year. MASSA will continue to highlight to members, trade, investment and business leads from the South-South countries.

To this end, several events are in the works with our partners and collaborators for the year ahead. They include a series of webinars on IR4.0 Smart Factories and ESG compliance. For more information, please do look out for our Circulars and Forthcoming Events announcement on the MASSA website.

We also welcome members’ initiatives to work with the Secretariat on innovative programmes that may be beneficial to members and the business community.

We wish all members and readers, season’s greetings, a happy new year 2024, stay safe and keep well.

Thank you.

Ng Su Fun

Editorial MASSA

Tan Sri Azman Hashim
President
MASSA 

2023 saw the global economy traversing a challenging environment of slow post-pandemic global recovery despite hopes of a return to pre-pandemic levels. Heightening geopolitical tensions, ongoing wars & humanitarian crises in the Russia-Ukraine War, the Israel-Palestine conflict, supply chain vulnerabilities, food shortages due to climate change, the tightening of financial markets in addressing elevated inflation and weakened trade dynamism forms the backdrop of a year in review of soft global growth projected to expand at 3%.

Malaysia’s performance saw its GDP grow to 3.3% in the third quarter (3Q2022: 14.2%) supported by expansion in domestic demand, continued improvement in labour market conditions and recovery across industries including tourism and construction. Nevertheless, headwinds remain present as Malaysia weathers weakened external demand for goods exports, contractions in natural gas production and vulnerabilities in the manufacturing sector amid tech downcycle. Headline inflation is expected to average between 2.5% – 3.0% for 2023. Overall, underpinned by domestic demand the Government anticipates GDP growth for 2023 to register an estimated 4%.

Moving forward into 2024, global growth is expected to continue to moderate, alongside global inflation and trade. Headwinds from trade restrictions, climate change, escalation of geopolitical tensions, tightening in monetary policy and ongoing shifts in consumption from goods to services are expected to impact the economic outlook for 2024.

The Malaysian economy in 2024 is expected to see broad-based growth of 4% – 5% led by resilient domestic consumption, improved export activities and the Government’s initiatives and efforts to encourage private sector dynamism. Budget 2024 (Belanjawan MADANI Kedua), the largest budget tabled in Malaysia’s history, aims to boost economic activity, position Malaysia as an economic champion in the region and synergise with the Government’s initiatives and policies.

The Government is taking concerted efforts to promote and accelerate ESG compliance as Malaysia works towards achieving its goal of net-zero emissions by 2050. This commitment is evident in the introduction of the National Energy Transition Roadmap (NETR), the New Industrial Master Plan (NIMP) 2030, the 12^th Malaysia Plan Mid-Term Review and the i-ESG Framework for the Manufacturing Sector introduced by the Ministry of Investment, Trade and Industry (MITI). MASSA will support and complement these initiatives.

MASSA will also step-up its collaboration with associates in the business community and in the South-South regions to highlight innovative solutions and business linkage opportunities for members, especially in the areas of sustainability, ESG, green & circular economy and digitalisation which can help businesses leapfrog innovation and remain resilient amidst the present economic backdrop and outlook. MASSA will also be bringing to members’ attention information on new and emerging non-traditional markets in the South-South developing countries by working together with our partners locally and abroad.

I appreciate the continuing support and cooperation of all members, especially my fellow Executive Committee members, and ex-officio partners with your attendance, support and contributions at our regular meetings & events and not forgetting the sponsors of our website.

I also wish to thank all who have contributed valuable and insightful articles to our Newsletter for 2023.

My best wishes to everyone Merry Christmas and a happy, healthy and successful 2024!

Tan Sri Azman Hashim
President
18 December 2023

COUNTRY FEATURE
DEMOCRATIC REPUBLIC OF TIMOR-LESTE
(TIMOR-LESTE)

Image 1: Dolok Oan Beach, Dili

FACTS ABOUT TIMOR-LESTE

Capital – Dili
Location – between the Southeast Asia and South Pacific
Territory – 15,007 square kilometres
Population – 1,340,434 million people (Population & Housing Census 2022)

Language –Tetun & Portuguese (Official Languages), English & Bahasa Indonesia (Working Languages)
Currency – USD and Centavos

Religion: The main religion is Roman Catholic. There are also small communities of Protestants, Muslims, Kong Hu Cuism and Hindus
Most populated municipalities: Dili, Baucau, Ermera, Bobonaro

National holiday: 20 May – Restoration of Independence Day, and 28 November – Proclamation of Independence

Natural resources: Oil and gas, minerals and agriculture produce such as coffee

State borders – Timor-Leste has only two immediate neighbours: Indonesia (land border) and Australia (maritime border)

Timor-Leste also has an enclave called Oe-Cusse-Ambeno. It is officially called the Special Administrative Region of Oecusse-Ambeno (RAEOA), located on the north coast of West Timor, Indonesia. To the north of the capital Dili lies Atauro Island. The smallest Timorese Island is Jaco Island. It is an uninhabited island occupying the eastern end of Timor-Leste’s main island.

Image 2: Map of Timor-Leste

Image 3: Jaco Island

POLITICAL SYSTEM

Timor-Leste is a semi-presidential republic. The President is Head of State, who is elected by popular vote for a five-year term. The President guarantees respect for the Constitution and for State institutions and when necessary, can act to mediate conflicts. He can also veto legislation passed by the National Parliament.

Following legislative elections, the President appoints the leader of the party with plurality of seats, as Prime Minister. As Head of State, the President also presides over the Council of State, the Superior Council of Defence and Security, and is also the Supreme Commander of Armed Forces.

The unicameral Timorese Parliament comprises of members elected by popular vote to a five-year term. The number of seats can vary from a minimum of 52 to a maximum of 65. All registered political parties can run for legislative elections, and name their representatives to the National Parliament. The Prime-Minister is Head of Government.

CLIMATE

Timor-Leste has a hot tropical climate with a dry season from May-November, and a wet season from December-April. The temperature on the coast is usually between 25-35C, and in the mountains at higher elevations the weather is much cooler – sometimes wet and misty, and at other times clear and invigorating. There are many different micro-climates from dry barren hill sides to thickly forested peaks interspersed with cultivated areas. In general, especially during rainy season, the south countryside becomes much lusher and greener.

GEOGRAPHY

Timor-Leste is mountainous, with ridges of inactive volcanic mountains extending along the island. The south is slightly less mountainous, and has some plains near the coastline. Most rivers dry up at least partially during the dry season. Outside of some coastal areas and river valleys, the soil is shallow and prone to erosion. The easternmost area of Timor-Leste consists of the Paitchau Range and the Lake Ira Lalaro area, which contains the country’s first conservation area, the Nino Konis Santana National Park. It houses the last remaining tropical dry forested area within the country. It hosts a number of unique plant and animal species, and is sparsely populated. The northern coast is characterised by a number of coral reef systems that have been determined to be at risk.

There are around 41,000 terrestrial plant species in the country. Forests covered 35% of East Timor’s land in 2010. The forests of the northern coast, central uplands, and southern coast are distinct. Timor-Leste is home to the Timor and Wetar deciduous forests ecoregion.

Mountains in Timor-Leste

(elevation above sea level, in meters)

• Mount Ramelau – 2967
• Matebian – 2376
• Maubohilau – 2312
• Kablaki – 2062
• Datoi–Tapo – 1941

Image 6: Mount Ramelau

Rivers in Timor-Leste

Timor-Leste’s longest river is the North Laclo, at about 80 km (50 mi) long; its largest catchment is that of the Loes, which has a total area of 2,184 km² (843 sq mi) (almost 15% of the whole country), about 9% of which lies in Indonesia.

Largest lakes (surface area, km2)

Lake Ira Lalaro is a freshwater lake in Mehara, of Lautém Municipality. It is the largest in the country. The lake is part of the Mount Paitchau Important Bird Area. The lake waters and that of Irasiquero River are a closed aquatic system. It covers between 10–55 square kilometres while the authigenic catchment basin covers 406 square kilometres.

Tasitolu (Portuguese: Tasitolu, Tetum: Tasitolu or Tasitolu, lit. transl. ’three waters’) is salty water and a protected area on the coast of around 8 kilometres west of the capital Dili. The Tasitolu wetlands include three saline lakes, an esplanade, and a beach; it has been designated a Wetland of National Significance. Tasitolu Peace Park was designated in 2002 because of its cultural and historical importance. The Tasitolu Important Bird Area accommodates several near-threatened species. It lies at an altitude of 0–403 metres above sea level, the 700 hectares (1,700 acres) protected area (whole area: 1,540 hectares (3,800 acres) consists of three permanent, shallow, saline lakes, and wetland surrounds. In some years, the water of the lakes turns red, probably due to red algae. There are several other small lakes in the country.

Compiled by:
Embassy of Malaysia
Dili, Timor-Leste
 

Dear Readers,

Nestled in Southeast Asia in between Indonesia and Australia, Timor-Leste is approximately the size of our state of Kelantan. It is not only a young but is a vibrant democracy; an oasis of peace, tolerance and freedom. The Economist magazine’s Democracy Index ranks Timor-Leste as the most democratic country in Southeast Asia.

Working towards full membership of ASEAN in coming years, Timor-Leste is on course to become the 165^th member of the World Trade Organisation (WTO) in February 2024. A member of the Community of Portuguese Language Countries (CPLP), Timor-Leste is the only country in Southeast Asia with Portuguese as its official language. Coupled with its expanding diplomatic presence worldwide, this half-island state is increasingly taking its rightful place on the world stage.

Bilateral Relations

Relations between Malaysia and Timor-Leste predate the restoration of Timor-Leste’s independence, during which Malaysians stood in solidarity with our Timorese brothers and sisters in their quest for self-determination. Malaysia was the first country to set up a Liaison Office in Dili on 13 April 2001 – well before Timor-Leste’s restoration of independence, and was the first ASEAN country to establish an Embassy in Dili on the eve of Timor-Leste’s independence on 20 May 2002.

In turn, Timor-Leste established its Embassy in Kuala Lumpur on 7 August 2002. Soon after, Malaysia responded swiftly to Timor-Leste’s request for peacekeeping troops, whom together with our Embassy flew our flag high, and further sowed the seeds of fraternal bonds between the peoples of our two countries.

Under the Malaysian Technical Cooperation Program (MTCP), over 600 Timorese officials have been trained in Malaysia in a variety of short and medium-term courses. In September 2023 and in cooperation with Australia, 14 Timorese officials were trained at the Institute of Diplomacy and Foreign Relations (IDFR) in Kuala Lumpur, as part of ASEAN membership readiness.  Moving forward, the Embassy will continue to identify further areas for capacity building of Timorese officials.

Business in Timor-Leste

For more than two decades now, Timor-Leste has warmly welcomed hundreds of Malaysian entrepreneurs, who have established and continue to operate their business; and provide employment to a substantial number of Timorese. To date, there are some 200 Malaysian business entities registered here. The lure of a US dollar economy, low corporate tax rate of 10%, and low labour costs continue to attract foreign business people – Malaysia included.

Boasting abundant natural resources, Timor-Leste is a treasure trove for industries such as agriculture, fisheries, and energy. The country’s vast coastline offers tremendous potential for fisheries, while its fertile land supports the cultivation of a wide range of crops. Additionally, Timor-Leste is rich in oil and gas resources, ripe for investment in the energy sector, including for renewable energy. The Timorese government is aggressively promoting foreign investment by offering a range of incentives to attract FDI- managed by one-stop centre TradeInvest.  

The tourism sector is possibly the lowest hanging economic fruit for the country while awaiting the much-anticipated breakthrough on the Greater Sunrise oil field negotiations with Australia Timor-Leste’s pristine beaches makes it an attractive tourist destination. The annual whale-watching season between October-November, and untouched coral reefs present immense opportunities for investment in this and supporting sectors.

Whether you are an established entrepreneur or a visionary start-up, Timor-Leste provides you an opportunity to be a part of its growth story. ASEAN’s commitment to support Timor-Leste in fulfilling a comprehensive Roadmap before gaining full membership, is a push factor for the Timorese Government to improve business conditions.

The 9^th Constitutional Government which assumed power in July 2023 held Timor-Leste’s First International Business Forum from 23-25 November in Dili. Themed: “Discovering Blue and Green Opportunities for Sustainable Investment”, the event was hailed as a great success with participation of some 350 foreign delegates representing 20 countries. The event culminated in the signing of 10 Memorandums of Understanding, including one with a Malaysian entity. Recognising that direct air connectivity is essential for all facets of our relations with Timor-Leste, the Embassy is working tirelessly for both countries to ink an Air Services Agreement very soon – the precursor for scheduled direct connectivity between in KL and Dili.

I urge the Malaysian private sector to intensify business engagement with Timor-Leste, and to take advantage of the continuous facilitation by both governments. The Embassy stands ready to assist where possible, and we look forward to seeing you in Timor-Leste.

His Excellency Amarjit Singh Sarjit Singh
Ambassador Extraordinary and Plenipotentiary of Malaysia to the
Democratic Republic of Timor-Leste

H.E. Jagdishwar Goburdhun, High Commissioner of Mauritius to Malaysia delivered the Welcome Address.

Mr Hemraj Ramnial, Chairman, Economic Development Board Mauritius delivered the Keynote Address.

Mr Sachin Mohabeer, Deputy Chief Executive Officer, Economic Development Board Mauritius delivered the Mauritius Country Presentation – Investment Opportunities Across Sectors.

Mr Abrar Anwar, Managing Director & Chief Executive Officer, Standard Chartered Bank (Mauritius) delivered a testimonial on Standard Chartered Bank’s experience in Mauritius.

The Country Presentation highlighted how Mauritius can serve as the gateway for businesses to distribute their products and goods to the African continent and to other markets beyond Africa by leveraging Mauritius’ strong economic fundamentals, freeport services and broad FTAs especially with African nations, North America, Europe.

(from left-to-right)
Ms Sarah Bakri, MyAIRA, Ms Ng Su Fun, Executive Secretary, MASSA, Ms Naznin Nahar Begum, eCAB, Ms Farha Mahmud Trina, eCAB and Ms Hanniz Lam, MyAIRA.

YBhg Tan Sri Azman Hashim, President, MASSA delivered the Opening Remarks.

Mr Ben Ong, Chairman, MAPAN delivered a presentation titled “Current Development in the ESG Spectrum and Malaysia’s National ESG Framework”.

Mr Shane Guha Thakurta, General Manager, Investor Relations and Sustainability, IJM Corporation Berhad delivered a presentation titled “ESG Adoption Journey, Best Practices and Pitfalls to Avoid”.

Mr Chan Huan Ong, Assistant General Manager, IJM IBS Sdn Bhd delivered a presentation titled “Cascading ESG Adoption to Vendors – Challenges and Lessons Learnt”.

Mdm Reshma Yousuf, Council Member, CILT Malaysia moderated the session and delivered the Closing Remarks.

A group photo of the webinar role players.

The webinar recording can be viewed here: https://www.youtube.com/watch?v=pqVMJX0IV_k.

Dr Ashraf Iqbal, Chairman, Waafi Bank delivered a presentation titled “Discover & Explore Business Opportunities in Djibouti” wherein he highlighted that many Djiboutians were graduates of Malaysian universities and that Djibouti is positioning itself to become the Singapore of Africa in line with its Djibouti Vision 2035 (https://economie.gouv.dj/vision-2035-english/).

Photos of the participants at the Briefing.

Greetings from MASSA !

In this August newsletter, we feature the Republic of Zambia. We thank the good office of the High Commission of the Republic of Zambia for their insights to bring to readers information on the Republic of Zambia, focusing on its economy and business opportunities. The Country Feature had highlighted the investment climate of Zambia, and the potential for investment into its key sectors in mining, agriculture, manufacturing, tourism and energy.

The August edition also reports on MASSA’s engagements and collaborations with the Bangladesh-Malaysia Chamber of Commerce and Industry (BMCCI) where MASSA had participated in a seminar organised by BMCCI on the Seminar on Trade and Investment Opportunities in Bangladesh at Royale Chulan Kuala Lumpur on 1 June 2023 and a series of online discussions with BMCCI on 14 June and 17 July 2023. These series of engagements were organised with the aim to inform the Malaysian business community about the latest trends, developments and business opportunities with and in Bangladesh, and to promote the 6^th Showcase Malaysia 2023 in Dhaka, Bangladesh. The 6^th Showcase Malaysia is a celebration of Malaysian products and services, and an opportunity for Malaysian businesses to explore the Bangladesh economy.

MASSA also had a series of meetings recently, which included a meeting with the High Commission of the Republic of Zambia on 3 May 2023, with the BMCCI leadership on 2 June 2023 and with the Undersecretary of the International Cooperation and Development Division (ICADD), Ministry of Foreign Affairs, Malaysia 15 June 2023. The discussions at these meetings, centred on areas where MASSA can collaborate, support and or complement the respective initiatives of the aforenamed offices. Our engagement with ICADD also resulted in a discussion between ICADD, MASSA and the Embassy of Malaysia in Timor Leste on 3 August 2023 to explore business opportunities in the nation as it prepares to integrate into the ASEAN membership.

We want to thank our members, ex-officio, contributors, and partners for your support to date. MASSA remains committed to present to members, trade and investment leads from the South-South countries, especially in light of the post-pandemic era that would require renewed efforts of cooperation from all levels to prepare businesses for the opportunities and challenges forthcoming.

In view of this, several events to keep an eye out for are in the works. One event we wish to highlight, and encourage readers to register and participate in is a Webinar Series on ESG for Malaysian businesses. This is a joint collaboration between MASSA, the Chartered Institute of Logistics and Transport (CILT) Malaysia and the Malaysian Association of Public Advocacy for Nature (MAPAN) on 22 September and 10 November 2023. Do look for our weekly Circulars and postings in our website www.massa.net.my.

We look forward to meet members at MASSA’s upcoming events.

Thank you.

Ng Su Fun

Editorial MASSA