MITI committed to ensuring Malaysia achieves 5.8pc GDP growth this year - MIDA | Malaysian Investment Development Authority
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MITI committed to ensuring Malaysia achieves 5.8pc GDP growth this year

MITI committed to ensuring Malaysia achieves 5.8pc GDP growth this year

05 Mar 2022

The Ministry of International Trade and Industry (Miti) is committed to ensuring that Malaysia can achieve a Gross Domestic Product (GDP) growth of 5.8 per cent this year as projected by the World Bank.

Senior Minister cum Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said the projection is achievable with the support of the National Recovery Council (MPN), private sector, industries, and business chambers.

He said based on Bank Negara’s statement, Malaysia’s economy grew 3.6 per cent in the fourth quarter of 2021 compared with a contraction of 4.5 per cent in the preceding quarter.

“This means Malaysia is on the right positive track. The overall economic growth of 3.1 per cent in 2021 is an achievement and the World Bank has revised our economic growth for 2022 to 5.8 per cent.

“With the success of MPN, support from the private sector and industry as well as business chambers, I am confident Malaysia can achieve 5.8 per cent growth in 2022,” he said during a dialogue session between Economy-related Ministers and MPN chairman in Pulai Spring Resort here, today.

Mohamed Azmin said the country recorded trade of over RM2.2 trillion while exports amounted to RM1.24 trillion last year.

“According to the 12th Malaysia Plan (12MP) that was tabled in Parliament, by end-2025, the country’s export value must record RM1.25 trillion. We have already achieved RM1.24 trillion last year, meaning that we have succeeded in achieving the target four years earlier than targeted under the 12MP,” he said.

Mohamed Azmin said Johor is one of the important states that contributed to the nation’s GDP and the industries and investors in the state want to see a strong government.

“However, amidst the economic recovery, how do we convince investors whether domestic or foreign investors to come and invest in Johor if the government is weak, unstable, and with leadership controlled by corrupt leaders, and power abuse.

“I promise to the people of Johor this time, if Johor can elect a new government that is clean and with integrity, I an confident Johor will rise and emerge as a state that contributes to the country’s GDP in the coming years,” he said.

Source: Bernama