KUALA LUMPUR: Malaysia is well-positioned to achieve significant growth in the second-half of 2013, said KPMG global chairman Michael Andrew.
He attributed this in part to the removal of political uncertainty in the country.
Speaking in Kuala Lumpur following the KPMG Global Board Meeting, he said there had been a consistent focus on high growth and emerging markets like Asean, and with the removal of political uncertainty in Malaysia, the economy would grow stronger. “Investors are now focused on countries that adopt open foreign policies, and Malaysia needs to ride on this economic wave.
Signs of recovery in the top-three economies, such as the United States gaining a clear momentum (energy source and labour), the new trend in Abenomics in Japan and China’s own recovery, would stimulate and provide a lift to Malaysia and sustain the investment momentum,” he added.
On Malaysia’s outlook for 2013 and 2014, Andrew said fiscal and economic policies need to be in place, with proper reforms to take growth to the next level.
Malaysia, he added, needs to look into a binding market convergence to be part of the Asean single market.
“There is a momentum and thrust forward into this region and clients worldwide see an advantage in pushing for the acceleration into Asean,” he said.
According to Andrew, multinational corporations want to gain a strong market share in Asia. “Most already have a strong focus in Japan and presence in Australia.
The cooperation between Malaysia and Singapore via Iskandar is starting to accelerate to show how important Asean is, as countries complement each other,” he said.
KPMG is a global network of professional firms providing audit, tax and advisory services. — Bernama
Did you find this article insightful?