KUALA LUMPUR (Nov 29): Malaysia has managed to secure investment commitments worth RM347 billion from official visits made by Prime Minister Datuk Seri Anwar Ibrahim, as well as trade and investment missions overseas under the current government.

Anwar said the commitments were clinched during trips to China, Singapore, Japan, South Korea, the United Arab Emirates, Saudi Arabia and the US.

“The investment commitments are quite large and very encouraging, both resulting from the visits and efforts of government agencies, including [under] the Ministry of Investment, Trade and Industry,” he said when tabling the Supply Bill 2024 for the second reading in the Dewan Negara on Wednesday.

Meanwhile, Anwar said the government had approved investments valued at RM132.6 billion in the first half of 2023, representing more than 60% of the full-year target.

“The main thing was the gross domestic product (GDP) growth of 3.3% achieved in the third quarter of this year, compared with 2.9% in the second quarter.

“Our economy expanded 3.9% in the first nine months of 2023, in line with the forecast GDP [growth] of about 4% for 2023,” he said.

The prime minister also noted that inflationary pressures had subsided.

“When the current administration took over, inflation was at 4%. In October 2023, the inflation rate moderated to only 1.8%, the lowest in the region, and better than developed countries,” he said.

Anwar said the unemployment rate was reduced to 3.4% in September 2023, almost back to the pre-Covid-19 level of 3.3%.

“Although it has been just one year, we have implemented clear and strong policies that were not implemented previously. In fact, there are measures under the second Madani Budget that have already been implemented,” he added. 

https://www.theedgemarkets.com/node/691960