‘Macroeconomic stability to drive M’sia’s growth outlook’
Malaysia is poised to maintain healthy growth this year due to macroeconomic stability, economic confidence from local and foreign investors and consistent government policies, an economist said.
Juwai IQI global chief economist Shan Saeed highlighted a US economic think tank Milken Institute report that emphasised the importance of attracting foreign direct investments (FDIs) along with investors’ confidence in the government policies.
“It is all about macroeconomic stability which drives the growth of the economy.
“Malaysia’s policy consistency and geographical significance provide the country a strategic advantage over other countries in Asean,” he told Bernama.
Milken Institute recently published its Global Opportunity Index (GOI) 2024 with Malaysia being ranked as having the best overall investment conditions among Asia’s emerging and developing nations, with an overall global ranking of 27, ahead of Thailand (37) and China (39).
Malaysia has “performed significantly” above average among emerging and developing nations in financial services and institutional frameworks, partly due to its strong investors’ rights, the report said.
Shan anticipates investments to remain higher with local and foreign investors interested to take positions in various economic sectors with the overall buoyant and positive investment climate.
Market sentiment remains bullish on technology, manufacturing, real estate, commodities and integrated circuit technology, he opined.
“Additionally, the financial sector and institutions remain fairly stable. All credit goes to Bank Negara Malaysia. The Securities Commission and Bursa Malaysia’s regulations and control are stringent enough to take care of investors’ interest,” he added.
Meanwhile, according to the Malaysian Investment Development Authority (MIDA), Malaysia’s achievement directly reflects government efforts, as spearheaded by the Investment, Trade and Industry Ministry.
From extensive trade and investment missions to forging international partnerships, Malaysia’s concerted efforts are bearing fruit and unlocking potential investments worth billions, MIDA said. — Bernama