This post is also available in:
简体中文 (Chinese)
Minister of Investment, Trade and Industry Zafrul said that Malaysia’s economy will benefit from global technological upgrading, which is expected to be boosted by strong semiconductor exports and tourism momentum in 2024.
Despite the challenges of strong macroeconomic data in 2023, the country is cautiously optimistic about the economy in 2024, expecting a growth of 4% and a decline in inflation and unemployment. Foreign direct investment (FDI) reached nearly $76 billion in 2023. Political stability, the Madani Economic Agenda, the New Industrial Master Plan 2030, and the National Energy Transition Roadmap provide clear economic direction for Malaysia.
The Ministry of Trade and Industry in 2024 will focus on the industrial and investment reforms outlined by the NIMP for re-industrialisation. At the same time, Malaysia has strengthened the establishment of smart factories and strives to become a global destination for high-end manufacturing.
(Source: Bernama Image source: freepik)
