KUALA LUMPUR (Aug 23): Malaysia is emerging as a rising star in Southeast Asia, attracting investors due to the Madani government’s business-friendly policies, improving economic growth, political stability, and a strengthening currency, says Nga Kor Ming.
The Housing and Local Government Minister highlighted that according to Reuters, the Ringgit has outperformed its regional counterparts, becoming the best-performing Asian currency thus far this year, appreciating over 5% year-to-date.
Meanwhile, the stock market has demonstrated strong momentum, with the FBM KLCI climbing more than 12% year-to-date. Malaysia’s economic growth has also exceeded expectations, expanding by 4.2% in the first quarter and 5.9% in the second quarter, fuelled by robust private spending, an influx of foreign investment, and strong export performance.
"Malaysia is now back on the right track," Nga said. "Under the leadership of Prime Minister Datuk Seri Anwar Ibrahim, the country has made significant strides in economic improvement. This progress has created a positive sentiment among investors and attracted more foreign investment into the country."
According to the Central Bank, foreigners invested 1.75bil US dollars into Malaysian debt markets in July and now hold around 20% of outstanding Malaysian bonds.
"As we commemorate National Day, let us reaffirm our commitment to unity in diversity and reject all forms of extremism. By fostering an inclusive environment, we will not only attract investment but also propel our nation's economic growth and uplift the well-being of every Malaysian," Nga added.
