Government investors’ congress a precursor to 2019 budget

KUALA LUMPUR: The Malaysian government will be hosting an investors’ conference themed ‘Malaysia: A New Dawn’ to convey its medium- to long-term aspirations.

To be held on Oct 9, 2018 at Shangri-la Hotel here, the conference also aims to reinforce confidence in the new administration among industry stakeholders.

In a statement yesterday, Finance Minister Lim Guan Eng said: “The new administration hopes to share with local and international investors our findings, our goals and our approach to resolving and overcoming the many challenges especially on fiscal issues that we have identified.

“The event also serves as a precursor to the tabling of the 2019 Budget scheduled for Nov 2, 2018.”

The conference will be jointly organised by Malaysia’s leading banking groups -- Malayan Banking Bhd, CIMB Group Holdings Bhd and RHB Banking Group.

Lim said the new Pakatan Harapan government had managed to instil confidence in the management of the economy, monetary sector and capital markets despite facing severe fiscal issues brought about by the RM1 trillion federal government debt.

“The challenge would include balancing the trade-off between reining in the fiscal deficit and generating sustainable economic growth -- growth that is necessary to bring about higher wage growth, reduce income inequality, and improve the economic well-being of the people,” he added.

The conference will bring together key representatives from the government, industry stakeholders, both local and foreign, to discuss the new Malaysia’s economic, social and political resiliency and sustainability.

The other aspects of discussions include sustainable infrastructure, affordable housing, agricommodities and Malaysians’ socio-economic well-being.

The conference will be graced by the Prime Minister Tun Dr Mahathir Mohamad, who will deliver the keynote address, while PKR President-elect Datuk Seri Anwar Ibrahim will deliver the closing speech. — Bernama