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2022 GDP growth forecast can be achieved following border reopening, says Mustapa

2022 GDP growth forecast can be achieved following border reopening, says Mustapa

27 Mar 2022

Malaysia is on the right track to achieve its gross domestic product (GDP) growth projection for this year with the reopening of its international borders starting next week.

The move will have a very positive impact on the economy, especially the services sector, said Minister in the Prime Minister’s Department (Economy) Datuk Seri Mustapa Mohamed.

“All citizens and the business community alike, including small and medium industry operators have been eagerly waiting for the borders to reopen.

“Consequently, we are more confident of achieving the GDP growth forecast of around 5.5%-6.5%,” he said to reporters during his visit to the Malaysia Healthcare Expo 2022 here on Sunday (March 27), organised by the Malaysia Healthcare Travel Council (MHTC).

According to Mustapa, Johor is set to be one of the main beneficiaries from the border reopening as cross-border activities between Malaysia and Singapore recommence.

Earlier this month, Prime Minister Datuk Seri Ismail Sabri Yaakob announced that the country will begin its transition into the endemic phase and that the international borders will reopen starting April 1. 

Meanwhile, Mustapa, who is also the co-chairman of MHTC, said he expects the arrival of Indonesian medical tourists into Malaysia to return to the pre-pandemic level by 2025.

In 2019, more than 675,000 Indonesian citizens had sought medical treatments in Malaysia, but the number had dropped to a mere 635 between 2020 and 2021.

Mustapa said he hopes that the arrival of medical tourists would gradually increase following the reopening of the border, thus giving the country’s health tourism industry a much-needed boost.

“Malaysia promises safe and secure healthcare for Indonesia’s medical tourists,” he said.

During the four-day Malaysia Healthcare Expo which ends Sunday, four state tourism representatives and 10 MHTC member hospitals had showcased the best healthcare offerings in Malaysia, including in the fields of fertility, cardiology, oncology and Hepatitis C.

Source: Bernama