EDITION
  • English
  • 中文
  • Bahasa
  • eCommerce
Friday, July 1, 2022
uLearnMoney Subscription Events
No Result
View All Result
Money Compass

Media and partner organizations:

cmc bmc ulearnmoney mylife mcm
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
Subscription
Newsletter
Money Compass
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE
No Result
View All Result
中文 Bahasa eCommerce
Money Compass

Investors optimistic about Malaysia’s economic prospects

by moneycompass
August 24, 2020
in News
Malaysia's gross domestic product (GDP) is expected to maintain its growth at 6.0% for this year, MIDF Research said.
Share on FacebookShare on WhatsApp

KUALA LUMPUR – The government is confident that local and international investors remain optimistic about maintaining their investments despite the country’s low growth in the second quarter of this year, Senior Minister cum International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali said, as reported on Bernama.

He said the government’s commitment through the RM295 billion economic stimulus packages worth RM295 billion, a reduction in the unemployment rate, as well as the success in tackling the COVID-19 pandemic, have strengthened the confidence of investors and business community.

In addition, the World Bank and International Monetary Fund’s (IMF) projections of Malaysia’s gross domestic product (GDP) of between 6.3% and 7.5% for 2021 also contributed to investor positive sentiment towards the country, he said.

“Although this is just a projection, it shows the level of confidence of foreign and local investors in Malaysia and the Perikatan Nasional (PN) government.

“In order to record a positive growth as projected by the IMF and World Bank, we need to accelerate the country’s economy from now onwards,” he told Bernama after launching the National Month Celebration 2020 here today.

Azmin, who also launched the Ministry of International Trade and Industry (MITI)-level COVID-19 Awareness Campaign, urged companies in Malaysia to pledge the standard operating procedure (SOP) compliance to the MITI database system — CIMS 3.0, besides declaring company information by registering with the system.

Meanwhile, he said the government remained committed to maintaining Malaysia as a competitive investment destination, while attracting more foreign investors to invest in the country, especially in the midst of the US-China trade conflict.

He expressed confidence that the economy will be able return on a better path in 2021 with development and strides made by the government.

Malaysia’s gross domestic product (GDP) contracted 17.1% in the second quarter of 2020, the worst double-digit quarterly decline since 1998 due to the unprecedented Movement Control Order (MCO) that was imposed to stem the spread of COVID-19 that brought the economy to almost a standstill.

As at May 31 last year, the Malaysian Investment Development Authority (MIDA) attracted 32 projects to relocate to Malaysia with investments amounting to RM17.5 billion through facilitation services to 86 companies from China and other countries affected by the US-China trade conflict.

Of them, 28 projects with investments amounting to RM8.36 billion have been approved, while four projects with investments worth RM9.14 billion are still under evaluation.

 

Read more: Launching of game changing Industry 4.0 solution for SMEs

Tags: Covid-19IMFMCOMIDAMITIWorld Bank
ShareSendShareSendTweetShare
Previous Post

EMAS Fintech South East Asia (SEA) First Regional Support Centre in Malaysia

Next Post

RICOH Hong Kong launches new Network Operations Center

Related Posts

News

Futu SG Strengthens Its Leading Position as The First Digital Brokerage to Receive Full SGX Memberships

01 Jul 2022
News

Futu SG Strengthens Its Leading Position as The First Digital Brokerage to Receive Full SGX Memberships

01 Jul 2022
News

44C1G Super Ultrawide Monitor launched by INNOCN: Double the screen, Quadra the experience

01 Jul 2022

Discussion about this post

MOST POPULAR

  • The Malaysian Business Angel Network (MBAN) presented the MBAN Summit 2022, which was held on June 23 and 24 this year, at Mranti Park, Kuala Lumpur with Cradle Fund Sdn Bhd (Cradle) and Hong Leong Bank as the main sponsors, Sarawak Digital Economy Corporation (SDEC), Mranti and Sea Capital Management as Unicorn sponsors.

    MBAN Summit 2022 Highlights The Future Of Innovation, Investment, And Entreprenuership

    0 shares
    Share 0 Tweet 0
  • CTOS Launches Referral Programme To Drive National Financial Literacy

    0 shares
    Share 0 Tweet 0
  • CLA Brings New Perspective On Leadership And Communications Training

    0 shares
    Share 0 Tweet 0
  • NagaCorp Clinches Top Honors from Institutional Investor

    0 shares
    Share 0 Tweet 0
  • 10 Ways to Curb Overspending

    1 shares
    Share 0 Tweet 0

MEMBERSHIP SUBSCRIPTION

Subscribe Now

Sign Up for Our Free Newsletters

Stay up-to-date with the latest personal wealth-related articles, breaking financial market news, and more.

Follow us on Social Media

News
Special Feature
Compass
Money Tube
Smart Lifestyle
Corporate Profile
Advertise
Subscriptions
Career
Contact Us
eLearning
Events
Privacy Policy
Terms of Use
Strategic Partners

Copyright © . Money Compass. All Rights Reserved.

Design and Development by Ant Internet Sdn Bhd

No Result
View All Result
  • HOME
  • NEWS
    • Global Market News
    • Local Market News
    • Corporate News
    • PLC News
  • SPECIAL FEATURE
  • COMPASS
    • Financial
    • Investment
    • Start Up
    • Capital
    • Infographics & Quotes
  • MONEY TUBE
  • LIFESTYLE
  • PR NEWSWIRE

© 2020 Money Compass

Career

SUBSCRIBE FREE NEWSLETTER