Malaysia offers huge potential to investors, says PM
17 Jan 2025
Malaysia, as Asean Chair, is committed to fostering even closer integration, deepening trade, economic and energy integration within the region and with the rest of the world, says Datuk Seri Anwar Ibrahim.
The Prime Minister said a prime example is the Johor-Singapore Special Economic Zone (JS-SEZ), which is set to unlock Johor’s potential while leveraging its proximity to Singapore to attract investments and create high-value economic opportunities.
“Likewise, we will prioritise enhancing regional energy cooperation through the Asean Power Grid, a critical initiative for advancing the region’s energy transition,” he said at the InvestMalaysia programme here yesterday.
Malaysia is Asean Chair for 2025.
On Jan 7, Singapore and Putrajaya exchanged an agreement on the JS-SEZ, a unique initiative where two countries work together to help promote both nations and attract investments.
Anwar said that key steps include integrating Thai and Laos energy grids into the broader Asean network and exporting Sarawak’s hydroelectric power to Singapore.
These efforts mark a significant stride towards strengthening energy security and accelerating clean energy transition in the Global South.
He said Malaysia will also ensure that Asean remains a neutral platform for dialogue and cooperation in the Asia Pacific region.
Lauding the United Kingdom’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Anwar this will unlock access to key markets for Malaysian exports such as palm oil, rubber and timber.
“At the same time, we are eager to explore partnerships with other economies in the Global South, including BRICS nations, to open new channels of commerce,” he said, Bernama reported.
Earlier in his address to an esteemed group of investors, Anwar said that Malaysia’s economic outlook for 2024 and beyond is increasingly positive, emerging as a beacon of growth and resilience in South-East Asia and bolstered by its Asean chairmanship.
He said strong gross domestic product growth, policy stability and rising foreign direct investment have rekindled global interest in Malaysia’s capital markets and positioned the country as one of the leading investment destinations in the region.
Anwar said the government has dedicated the past two years to improving governance, enhancing transparency, intensifying anti-corruption efforts and at the same time implementing comprehensive fiscal reforms.
“To this end, my administration has dedicated the past two years to strengthening governance by enhancing transparency and intensifying anti-corruption efforts,” he said.
He said the government has also pursued comprehensive fiscal reforms, with a strong commitment to gradually and sustainably reducing the fiscal deficit while reinforcing fiscal responsibility to ensure long-term economic resilience and stability.
Source: The Star
