Malaysia celebrates a significant economic boost as Prime Minister Anwar Ibrahim discloses foreign investment commitments totaling RM347 billion, secured during official visits to key nations
MALAYSIA has successfully garnered investment commitments amounting to RM347 billion, thanks to Prime Minister Anwar Ibrahim’s strategic diplomatic engagements during official visits abroad and concurrent trade and investment missions. Anwar revealed that these commitments materialized following visits to influential nations such as China, Singapore, Japan, South Korea, the United Arab Emirates, Saudi Arabia, and the United States.
Addressing the Dewan Negara today while presenting the 2024 supply bill for a second reading, Anwar highlighted the substantial contributions made by various government agencies, particularly the investment, trade, and industry ministry. Furthermore, Anwar announced that the government had greenlighted investments totaling RM132.6 billion in the first half of 2023, surpassing 60% of the annual target, according to Bernama.
“The noteworthy achievement is the Gross Domestic Product (GDP) growth of 3.3% in the third quarter of this year, a significant improvement from the 2.9% recorded in the second quarter. Our economy has expanded by 3.9% in the initial nine months of 2023, aligning with the projected GDP of approximately 4% for the entire year,” Anwar stated.
Additionally, Anwar emphasized the positive economic indicators, noting a decrease in inflationary pressures. “Upon assuming office, inflation stood at 4%. By October 2023, the inflation rate had moderated to 1.8%, marking the lowest in the region and outperforming developed countries,” he asserted. The prime minister also shared the encouraging news that the unemployment rate had decreased to 3.4% as of September 2023, nearing pre-pandemic levels when it stood at 3.3%.
Source – Invest KL Malaysia
