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M’sian economy has golden opportunity for second surge: Liew | Scoop
Deputy Investment, Trade and Industry Minister Liew Chin Tong has said that the nation’s political stability, far-sighted economic policies and the green transition provide a golden opportunity for a second economic surge. – Abdul Razak Latif/Scoop pic, March 2, 2024
News

M’sian economy has golden opportunity for second surge: Liew

Deputy minister says US-China competition pushing business into SEA, giving nation chance to leap factors attracting investors

Bernama
Updated
1:53 PM MYT

 

KUALA LUMPUR – Political stability, far-sighted economic policies and the green transition provide a golden opportunity for a second surge in the country’s economy after the first jump made in the early 1990s. 

Deputy Investment, Trade and Industry Minister Liew Chin Tong said the competition between China and the United States has pushed investments into the Southeast Asian region and that Malaysia plays an important role in attracting investors. 

“When investors do the calculations, they know Malaysia has good logistics, a fair common law framework and many workers who are fluent in several languages ​​in addition to being well educated. 

“This is an opportunity for Malaysia to make a second leap. The first jump was successfully made in the early 1990s when economic growth, job opportunities, wages, and the standard of living of the people were in a positive environment,” he said. 

The comments were made through his blog, Liew Chin Thong, titled “The Second Surge of the Malaysian Economy” which is a sharing of his speech during the Bumiputera Economic Congress 2024  on Thursday.

Liew added that Malaysia does not need to compete with neighboring countries such as Vietnam and Indonesia to attract investments because the strength of the country’s economy has put Malaysia at a level almost on par with Singapore. 

“Perhaps it would be better if we could establish cooperation through vertical integration with Vietnam and Indonesia,” he commented.  

“This is because, if we want to compete with neighbouring countries, workers in Malaysia have to be paid low wages.” – March 2, 2024

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