MITI to strengthen efforts in attracting investment after strong 2024 GDP performance

MITI to strengthen efforts in attracting investment after strong 2024 GDP performance

14 Feb 2025

The Ministry of Investment, Trade and Industry (MITI) will continue its efforts to attract more investment, boost trade, and develop local industries following a strong 2024 gross domestic product (GDP) performance.

MITI Minister Tengku Datuk Seri Zafrul Abdul Aziz noted that Malaysia’s GDP in 2024 exceeded expectations, driven by investment and exports.

“Among the factors contributing to this encouraging performance are increased investments, which saw double-digit growth of 12 per cent – the highest in 12 years – and higher exports, particularly in the electrical and electronics sector,” he said in a post on X today.

According to Bank Negara Malaysia, the Malaysian economy grew by 5.1 per cent in 2024, up from 3.6 per cent in 2023, surpassing the initial projection of 4-5 per cent.

Source: Bernama