EUROCHAM Malaysia attended a meeting yesterday that was organised by the Ministry of International Trade and Industry (MITI) regarding the latest policy updates on the recruitment and entry of foreign workers. The meeting was attended by various business chambers and industry associations, including EUROCHAM Malaysia as the community actively engaged in a productive discussion.

The topic of discussion that was touched on during the meeting was as follows:

1. The recent development of the One Stop Centre (OSC);
2. The application process for the Foreign Workers Centralized Management System (FWCMS); and
3. The 80:20 ratio of local employees to foreign workers.

On behalf of our corporate partner, Futurise, we would like to invite our fellow members to participate in the upcoming RegTalk ‘Drone Sports: Can Malaysia Dominate this Emerging Sport?’ happening tomorrow!

Drone sports first started in 2011 but gained traction in 2015 after the founding of two organizations that are well known today among the drone sports community: MultiGP and Drone Racing League (referred to as DRL).

There is no formal consolidated data on drone sports specifically as it is still relatively new and there are multiple communities and associations around the world which makes it difficult to have a proper overview. According to Statista, the global drone market revenue was estimated to be worth 26.3 billion U.S. dollars in 2021 which is a 46% growth from 2019 being 18 billion U.S. dollars. It is forecasted to have a CAGR of 9.4% from 2021 to 2026 with the possibility of reaching highs of 43 billion U.S. dollars in revenue.

Today, the Commission presented a list of headline indicators for monitoring progress towards the EU's environment and climate goals to 2030, as well as the 2050 long-term vision to ‘live well, within planetary boundaries'. Resulting from intense consultations with stakeholders and Member States, the new Monitoring Framework under the 8th Environment Action Programme aims to foster transparency and inform Europeans about the impact of EU climate and environmental policy.

EU policies have to ensure that the EU gets back on track to living and working within planetary boundaries. As such, the indicators capture progress towards environmental wellbeing, including also economic and social aspects. As such, they could pave the way for measuring the health of our economies and societies based on wellbeing, and beyond the most well-known economic indicator, GDP.

Executive Vice-President Frans Timmermans, in charge of the European Green Deal, said: “We have very ambitious environmental and climate targets to help us deliver the just green transition that Europe and the world needs. But what you cannot measure, you cannot manage. To keep us on track, we need to keep a close eye on whether we are meeting our goals. These indicators help us do so.”

Done and dusted! We are proud to share another completed successful and highly anticipated EUROCHAM Malaysia Advocacy Networking Event with our member, S P Setia, held yesterday at the wonderful Setia International Centre!

We thank Mr. Luciano Pezzotta, Deputy Chairman of EUROCHAM Malaysia who commenced our event with a very insightful and inspiring opening remark. We also thank Datuk Tony Ling, Executive Vice President, S P Setia for delivering a profound and uplifting speech to kickstart the event, as well as Mr. Gary Chan, Senior Manager Sales & Marketing, S P Setia for an informative and very interesting introduction to KL Eco City!

Special thanks also to our honoured guest, Mr. Shahril Hamdan, Economic Director at the Prime Minister’s Office of Malaysia for his participation in our famous fireside chat with EUROCHAM Malaysia CEO, Mr. Sven Schneider. It was a truly informative and engaging session as they discussed the future of the economic outlook in Malaysia.