KUALA LUMPUR: Malaysia's economy is on a solid footing and the MADANI Government remains committed to driving sustainable and competitive economic growth to ensure the well-being of the people, particularly in rural areas, says Datuk Seri Dr Ahmad Zahid Hamidi.
The Deputy Prime Minister said this was shown in Bank Negara Malaysia’s Quarterly Bulletin for the Fourth Quarter of 2024, which showed Malaysia's economy grew by 5.0 percent in the final quarter of 2024 and recorded an overall annual growth of 5.1%, compared to 3.6% in 2023.
He said these figures reflect the resilience of the national economy and the effectiveness of government policies in fostering sustainable and competitive growth.
"This success must translate into direct benefits for the people, including greater job opportunities, the expansion of new businesses, improved infrastructure, and an overall better standard of living-especially for rural communities and the Bumiputera, who are the backbone of the nation," he said in a statement on Facebook on Saturday (Feb 15).
He added that the Madani Government is committed to enhancing basic infrastructure, clean water supply, electricity, and Internet access, noting that more than eight million Malaysians currently reside in rural areas.
To strengthen the economic position of the Bumiputera, Ahmad Zahid, who is also the Minister of Rural and Regional Development, said the government will improve access to strategic financing through agencies such as Majlis Amanah Rakyat (Mara) to further stimulate economic empowerment.
Additionally, through the Technical and Vocational Education and Training (TVET) Council, he said the government is committed to producing a highly skilled workforce to meet the demands of rapidly expanding industries, including automation, artificial intelligence (AI), renewable energy and smart engineering.
"This initiative will not only create more job opportunities but also ensure Malaysia remains competitive in the modern global economy," he said.
The Deputy Prime Minister also highlighted the vast potential of the halal industry as a key driver of Malaysia’s economy.
He underscored the need for Malaysia to strengthen its position as a global halal hub by enhancing the halal ecosystem, expanding export markets, and increasing the participation of Bumiputera entrepreneurs in international trade.
"This is a strategic move to boost Malaysia’s competitiveness in a global sector valued at an estimated US$3 trillion," he said.
He also expressed hope that Visit Malaysia 2026 would serve as a catalyst for strengthening the tourism industry, with a focus on ecotourism, agro-tourism, Islamic tourism, and cultural tourism in order to attract investment and increase the number of high-value tourists visiting Malaysia.
Ahmad Zahid further noted that the government’s ongoing efforts to support the people are reflected in the sharp rise in job opportunities, saying that for the first time since 2018, private sector labour demand has exceeded 9.01 million, signalling a strong economic recovery after a period of political uncertainty and the impacts of the Covid-19 pandemic.
"This reflects renewed investor confidence and the strengthening of Malaysia’s economy. I am confident that the country is now on a solid path towards sustainable and inclusive growth.
"Achieving this success requires strong collaboration between the government, the private sector, and the people so that the benefits of economic growth can be shared by all. Together, we will drive Malaysia towards a brighter and more prosperous future," he said. - Bernama
