Malaysia on track for strong, sustainable growth after trade and FDI success in 2021, says minister
31 Dec 2021
Despite being a challenging year for Malaysia, the country still ended 2021 with a bang as total trade, for the first time in history, breached the RM2 trillion mark, according to Senior Minister and International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali.
Trade expanded 24.6 per cent year-on-year to RM2.01 trillion for the January-November 2021 period.
Mohamed Azmin said Malaysia also attracted a total of RM177.8 billion approved investments in the manufacturing, services and primary sectors in the period from January to September 2021, representing an outstanding 51.5 per cent jump compared to the same period in 2020.
“All said, despite the ominous misgivings of doomsday pundits and naysayers, our trade performance and foreign direct investment success for 2021 have placed us on the right track for sustainable, strong and prosperous economic growth,” said the Senior Minister in his New Year 2022 message released tonight.
However, Mohamed Azmin called for efforts to be redoubled in 2022 to ensure that Malaysia remains competitive through greater economic complexity as the global economic outlook remains challenging amid uncertainty and volatility.
“Let us enter 2022 with a new strategy and rekindled resolve to drive the digital economy, green technology and Fourth Industrial Revolution sectors.
“We must strengthen our conviction to realise our National Investment Aspirations and implement the environmental, social and governance agenda in order to generate the investment ecosystem so crucial in attracting high quality, technology-oriented investment and ensuring long-term sustainability and creating high-skilled jobs,” he said.
While entering 2022 with hope and confidence, he said, Malaysian should brace for the challenges of the New Year and strengthen commitment to work even harder together as a family, towards the advancement of the nation for peace and prosperity.