Malaysia’s GDP growth in 2019 in line with neightbouring countries
Malaysia’s modest gross domestic product (GDP) growth of 4.3 percent in 2019 is considered better than some of its neighbours, said Economic Affairs Minister Datuk Seri Azmin Ali.
Economic Affairs Minister Datuk Seri Azmin Ali (Photo: nst.com.my/)
Kuala Lumpur (VNA) - Malaysia’smodest gross domestic product (GDP) growth of 4.3 percent in 2019 is consideredbetter than some of its neighbours, said Economic Affairs Minister Datuk SeriAzmin Ali.
OtherASEAN countries, while most of it registered higher growth, had missed their2019’s projection.
Last year, Singapore’seconomy grew 0.7 percent, the slowest in a decade, while the Philippines missed its6.0 to 6.5 percent target to register 5.9 percent GDP expansion, the lowest ineight years, he said, adding Indonesia’s GDP rose 5.02 percent, short of thegovernment’s 5.3 percent target.
Azminsaid the trend was also seen in parallel with the growth of other Asiancountries.
The overall performance of the Malaysian economy was moderated by the slowdownin the global economy in line with the slowdown in global trade activity, heexplained.
Azmin said domestic economic growth prospects for 2020 might be affected by therecent coronavirus disease (COVID-19) outbreak, which may cause global supply disruption.
The sectorsthat will be impacted include tourism, transportation and manufacturingindustries.
He said tomitigate the adverse impact and ensure continuation of the people's well-being,the government was taking proactive measures. They are meant to boost domesticeconomic activity while also promoting exports, especially for the health care,electricity and electronics, and pal oil related products.
Besides,an economic stimulus package is being finalised to support economic growthwhile at the same time prioritising the well-being of the residents.
He said inaddition, the government's move to reduce toll rates and ensure a stable petrolprice was expected to help ease the people's burden while strengthening domestictourism.
Bank Negara Malaysia’s move to reduce the Overnight Policy Rate to2.75 percent on January 22 would also support the growth of the domesticeconomy this year, he added./.
The Dewan Negara – the upper house of the Malaysian Parliament – has approved the Supply Bill (Budget) 2020, which has allocated 297 billion RM for the year’s expenditure.
According to observers, Malaysia must cope with a sagging economy due to the impact of the global trade tension in 2019 and strive to find a foothold before the transfer of power scheduled next year.
The Malaysian government will ensure the digitalisation of the economy will not leave anyone out of the mainstream of development, Minister of Finance Lim Guan Eng said at a tech conference on December 30.
The outbreak of the new coronovirus (COVID-19) has yet to reach a crisis level and been well under control in Malaysia so there is no need to raise alarm, said a Malaysian official.
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
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 proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
Economic Affairs Minister Datuk Seri Azmin Ali (Photo: nst.com.my/) 
