Malaysia, with Greater Kuala Lumpur at its heart, holds significant promise as a potential business hub or regional headquarters for the Global South, according to Deputy Minister of Investment, Trade, and Industry, Liew Chin Tong.
Speaking at the Annual General Meeting of the National Chamber of Commerce and Industry Malaysia (NCCIM), Liew highlighted Malaysia’s wealth of experienced business leaders and workers who have long collaborated with industries from the West, Japan, and Korea. He also pointed out Malaysia’s robust cultural ties with Arab, Chinese, Indian, and other international businesses.
“Admittedly, we need to strengthen our connections with Africa and South America both as a country and through our businesses. Few nations are as culturally rich as Malaysia. We need to leverage this strength to enhance global interconnectedness and facilitate business interactions,” he stated.
Liew also remarked on the positive developments in Malaysia’s investment landscape. Last year saw approved investments reaching an unprecedented RM329.5 billion, and the economy is projected to have grown by 5.8 per cent in the second quarter of 2024.
“It is now feasible to anticipate growth close to five per cent this year, slightly higher in 2025, and even surpassing six per cent in 2026 if we act collaboratively and global conditions favour us,” he noted.
He acknowledged that while clear economic goals are vital, they do not guarantee overnight prosperity or a complete resolution of past issues. “Of course, clarity on economic matters does not mean our country will become wealthy overnight and that all past issues will be completely resolved,” he added.
The Deputy Minister underscored that both markets and investors value transparency in policy objectives. He praised the MADANI Economic Framework for its clear directives on elevating both the ceiling and the floor, commending Prime Minister Datuk Seri Anwar Ibrahim for his clear and decisive approach.
Source: businesstoday.com.my
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