The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.

The move aims to prevent potential transshipment practices by certain enterprises seeking to reroute goods through Malaysia to third countries.

The Malaysian government is steadfast in achieving its gradual fiscal consolidation target by reducing national debt, while continuing to invest in improving the quality of life for all Malaysians, according to Prime Minister Anwar Ibrahim.

Malaysia's GDP expanded by 5.9% year-on-year in the second quarter of 2024, surpassing the estimates, the Malaysian government and the Bank Negara Malaysia (BNM) have reported.

The Malaysian Government will allow all vessels conducting repairs on undersea cables to carry out work in its waters from June 1, after it said earlier this year it would reinstate the permissions it had suspended in 2020.

The Malaysian Government has announced that Google will invest 2 billion USD in the country to build its first data centre there.

The Malaysian government has agreed to establish the Energy Exchange Malaysia (Enegem) to facilitate cross-border sales of green electricity to neighbouring countries.

The Malaysian government will add 186 new Digital Economic Centres (PEDi), bringing the total to 1,097 nationwide by the end of this year, Prime Minister Datuk Seri Anwar Ibrahim said.

The Malaysian government is taking steps to address the issue of food security through the implementation of the high-growth, high-value (HGHV) initiative for the agriculture sector.

Malaysia is planning to ban the export of rare earth raw materials and support the development of the domestic rare earth industry, the country’s Prime Minister Anwar Ibrahim said on September 11.

Malaysia has outlined three strategies to ensure the country’s security and sovereignty are guaranteed, thus improving the standard of living and well-being of its people.

Malaysia has issued a license to Starlink, the satellite communications service started by Elon Musk, to provide internet services in the country, particularly in remote areas.

The Malaysian government remains committed to implementing policies that can bolster the nation’s economic growth and competitiveness to attract funds that will strengthen the international reserves and the ringgit.

The Malaysian Government will focus on three main issues this year to achieve high-income nation status by 2026, including fiscal strengthening by focusing on increasing revenue and spending rationalisation.

The Malaysian government’s direct debt stands at 1.07 trillion RM (242.7 billion USD) and the country is unlikely to ever record a surplus fiscal budget in the future, Deputy Finance Minister Datuk Seri Ahmad Maslan said when addressing the upper house on December 21.

New Prime Minister of Malaysia Anwar Ibrahim has said he will lead a unity government and make efforts to balance all interests.

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.

Malaysia's Ministry of Human Resources (MOHR) announced that it has approved a quota for recruiting 541,315 foreign workers as of September 1.

The Malaysian government will stop building coal power plants starting in 2040, and shift its focus toward clean and renewable energy, according to Minister in the Prime Minister’s department in charge of economy Mustapa Mohamed.

Malaysian Prime Minister Ismail Sabri Yaakob has afffirmed that the government will seek measures to deal with the rising prices of commodities.