Malaysian Prime Minister, Anwar Ibrahim, recently showcased his government’s commitment to promoting domestic growth by facilitating business operations and speeding up the implementation of government projects. Speaking with a diverse group including business leaders, economists, and regulators, PM Anwar discussed strategies for boosting Malaysia’s economic growth and encouraging domestic investments.
He highlighted early indicators suggesting that the government’s fiscal policies, along with the 2023 Belanjawan measures, are yielding positive results despite the challenges inherited from the previous government. PM Anwar emphasized the government’s pledge to stimulate inclusive, sustainable growth, restore public trust in institutions, and uphold social justice, all in alignment with Malaysia’s MADANI vision.
The Ministry of Finance revealed that the government has initiated a series of measures to stimulate investments and lure high-quality investments that offer local businesses and high-income job opportunities. The measures include provisions for financing facilities and guarantees worth RM40 billion to support SMEs under the 2023 Belanjawan.
PM Anwar reported Malaysia’s robust Q1 2023 economic performance, with a growth of 5.6% and a reduced unemployment rate of 3.5%. He promised further efforts to promote ease of doing business and support domestic direct investments. Future economic policies and priorities will be defined in the upcoming Industrial MasterPlan, 12th Malaysia Plan Mid Term Review, and Belanjawan 2024. Consequently, business groups have been invited to contribute proposals for these economic plans.
This news is based on Marketing Interactive.