Look at Malaysia as top-tier investment, capital destination, says Anwar

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim today called on the international investment community to consider Malaysia a top-tier investment and capital destination.

During his keynote address at the Invest Asean Conference in Melbourne, Australia, on Thursday (March 7), he delivered a resounding vote of confidence in Malaysia’s economy, anticipated improvements in investment, economic performance, and improved prospects for the ringgit this year.

Highlighting key economic indicators which underscored the sound and improving fundamentals of the Malaysian economy, Anwar, who is also the Finance Minister, said the Malaysian economy continues to display both resilience and steady growth.

"Malaysia is back in business. I am confident in Malaysia’s economic prospects and our future as a people and a nation. For 2023, we realised a 23% surge in approved direct investments to an all-time high of RM329.5bil.

"We have every confidence this number will improve across 2024, with accretive benefits for the people, as committed investments translate into new projects, new high-paying jobs, new opportunities for technology transfer and upskilling and yes, an improvement in the prospects for the ringgit,” said the Prime Minister at the conference, attended by CEO-level officers there.

Conveying the dynamic transformation programme currently being implemented by the Malaysia Madani Government, Anwar also emphasised how these translated into an improved political, economic, and social environment conducive to international investors.

"Malaysia Madani is much more than a return to traditional values or the pure inculcation of new values. It is a comprehensive, deep-bench government programme that seeks to develop fundamentally positive yet transformative changes in fiscal policy, subsidy reforms, and a heightened sense of governance alongside the improved performance of private economic participants.

"Within our Madani transformation programme are new economic pillars: an Energy Transition Roadmap and New Industrial Master Plan, which will underpin our transformation to a greener, more sustainable, and more prosperous 21st-century economy,” Anwar said.

The Prime Minister was in Melbourne, leading the Malaysian delegation to the second Malaysia-Australia Annual Leaders’ Meeting (2nd ALM) on March 4 and the ASEAN-Australia Special Summit, hosted by Australia, held from March 5-6, 2024, to commemorate the 50th Anniversary of Asean-Australia Dialogue Relations.

Anwar is currently in Canberra as part of his back-to-back official visits to Australia at the invitation of Australian Prime Minister Anthony Albanese. – Bernama