Malaysia Is Back In Business, Amir Hamzah Tells IMF-World Bank Meetings
By Kenny Teng
BANGKOK, Oct 19 (Bernama) -- Malaysia’s message at the International Monetary Fund (IMF)-World Bank Group Annual Meetings here is clear: the country is back in business, backed by political stability, policy clarity and sustained reforms that are strengthening investor confidence amid global uncertainty.
Finance Minister II Datuk Seri Amir Hamzah Azizan said these factors had helped attract foreign direct investment (FDI), while Malaysia’s economy remained resilient despite geopolitical tensions and disruptions to global trade.
He said Malaysia recorded gross domestic product (GDP) growth of 5.2 per cent in each of the past two years, with growth reaching 5.7 per cent in the latest quarter, reflecting the resilience of its industries and their continued role in global supply chains.
“The biggest message that Malaysia tells people is that Malaysia is back in business,” he told Bernama on the sidelines of the meetings.
Amir Hamzah led the Malaysian delegation to the annual meetings, held at the Queen Sirikit National Convention Centre in Bangkok from Oct 12 to 18.
He said Malaysia was also demonstrating its commitment to fiscal discipline and good governance through reforms, including the Fiscal Responsibility Act and Government Procurement Act. Further legislation covering subsidies and government-linked enterprises would strengthen transparency and accountability.
“These reforms were important in assuring investors that Malaysia’s policies and institutions were becoming more robust and sustainable, reinforcing confidence in the country’s economic prospects,” he said.
He added that investor confidence was also reflected in Malaysia’s recent US$1.5 billion (US$1 = RM4.08) global sukuk issuance, which was oversubscribed 4.7 times and secured competitive pricing.
Amir Hamzah said the government was focused on ensuring that investment and economic growth translated into better incomes and opportunities for Malaysians through higher wages, skills development and greater participation by local businesses in supply chains.
He shared that Malaysia was also embracing artificial intelligence (AI) and digitalisation to improve productivity, modernise public services and create higher-value jobs, while ensuring that new investments, particularly in data centres, generated greater benefits for the domestic economy.
“The world has seen that, and is actually very impressed that Malaysia has been able to do all these things, which means that FDI has come in very strongly,” he said.
Amir Hamzah said the annual meetings provided an important platform for Malaysia to showcase its economic progress, strengthen international confidence and learn from global developments to accelerate domestic reforms.
He said the ultimate goal was to build a stronger, high-income economy in which the benefits of growth were shared more widely among Malaysians, including future generations.
-- BERNAMA