Zafrul: Malaysia, the prime destination to invest
11 Sep 2024
Malaysian and foreign investors looking to leverage Malaysia’s investment ecosystem will be “right on the money”, says Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
The Investment, Trade and Industry Minister said the country’s solid economic indicators and policies have made it a prime investment destination, as well as its influential position in the Asean region.
He said the Malaysian economy is firmly back on track for a strong and steady growth.
“The economy has expanded strongly, registering Gross Domestic Product growth of 5.1% in the first half of 2024, supported by domestic demand, investment and exports,” he said.
He also noted that approved investments hit a record high of RM329.5bil last year; and from 2021 to 2023, approved foreign investments accounted for almost 62% of total approvals.
This was a reflection of foreign investors’ confidence, he said at the 17th World Chinese Entrepreneurs Convention yesterday.
Moreover, he said that Malaysia intends to strengthen the region’s centrality and neutrality, so that more investments and trade will flow into this region.
He said Malaysia will continue to place emphasis on Asean’s peace, prosperity and security, particularly during its chairmanship next year.
Investors, he said, wanted peace-loving partners, which is the very quality that the Asean region has.
He told investors to “look no further than Malaysia” as it is a country that values peace in supporting global trade.
“Malaysia may be physically small in relation to other countries and some of our neighbours, but we have a big enough voice, and most importantly, we have principles when it comes to taking a stand,” he added.
He highlighted the country’s growing prestige as a leading economy in Asean and Asia, placing it in a good stead to strengthen the region’s position globally.
“Asean holds the key to securing global supply chains, and many are looking for a seat at Asean’s table.
“During its chairmanship, Malaysia intends to optimise this growing influence carefully to enhance Asean’s role in global affair, to the advantage of many, and not just a few,” he said.
According to him, Asean is the world’s fifth largest economic bloc by GDP, with a GDP of US$3.8 trillion and 380 million population.
Its rising middle class and market size make it one of the most valuable markets by global standards, he added.
Source: The Star
