Malaysia's economy is open and has established cooperative relations with all countries, so it needs to continue playing its role as a “neutral” country with a strong ecosystem in the technology sector to ensure the country remains an investment destination, an official has said.
The encouraging economic expansion seen at present is due to the expansionary fiscal policy via the 2022 Budget, a monetary policy that has remained accommodative, as well as the full reopening of the economy and national borders, said Malaysian Prime Minister Ismail Sabri Yaakob on August 30.
Malaysia’s Gross Domestic Product (GDP) forecast of between 6 and 7.5 percent this year will be revised, according to Finance Minister Tengku Zafrul Tengku Abdul Aziz.
Malaysian Finance Minister Lim Guan Eng has said the permanent reorientation of the global supply chain due to the US-China trade war can be a golden opportunity to attract new investment and reverse Malaysia's premature deindustrialisation.
Malaysia posted a gross domestic product (GDP) growth of 4.7 percent in the fourth quarter (Q4) of last year, leading to an overall economic growth of 4.7 percent in 2018, Bernama news agency reported.
Malaysia could be one of the three countries in Asia which are the most negatively affected by the trade war between the US and China if the dispute continue to worsen, according to Standard Chartered.
Malaysia will remain a business-friendly nation where all investors and companies will be accorded fair treatment, said Prime Minister Mahathir Mohamad on June 1.
Malaysia’s economy has performed strongly at a time of regional and global economic uncertainty, showing the country is on the right track, said Malaysian Prime Minister Najib Razak.
