PM: Malaysia hopes for 4.5 to 5.5 percent GDP growth

By Sarah Yusoff

KUALA LUMPUR, 15 October 2021 – Prime Minister, Dato’ Sri Ismail Sabri Yaakob said yesterday that his government aims to increase the growth of Malaysia’s economy between 4.5 and 5.5 per cent a year.

The government hopes for the people to reach an average monthly household income of RM10,000 by 2025, as stated in the 12th Malaysia Plan (12MP).

In spite of the challenges faced in the COVID-19 era, the Prime Minister said Malaysia needs to find for other inventive and clever alternatives that would help to spike investments within the country.

“In creating a more secure environment for investors, active vaccination programmes were initiated by the government and it is said to be a successful effort,” he added.

“Consequently, Malaysia is ready to get back in business as an investment hub for regional and international companies, which is made possible through the continuous support from every member of Keluarga Malaysia. Now, safe bubbles for all businesses with new norms are being applied carefully,” the Prime Minister said in his keynote address at the Invest Malaysia Kuala Lumpur titled ‘Rebuilding A Sustainable Economy’.

He further stated that the diversity of Malaysia’s multiracial society along with various social strata has long provided opportunities for investors.

“Different necessities are needed for different races. In another understanding, there are potentially more marketable products and services in this country.

“We are aiming for a growth of 4.5 per cent to 5.5 per cent per annum in our Gross Domestic Product (GDP) in the next 5 years. As mentioned in 12MP, by the year 2025, we are positive in reaching an average monthly household income of RM10,000,” he added.

Dato’s Sri Ismail Sabri said the Malaysian Digital Economy Blueprint (MyDIGITAL) and National Fourth Industrial Revolution (4IR) are two important components of the country’s future.

The Prime Minister also stated that as the gateway to the ASEAN market through Regional Comprehensive Economic Partnership (RCEP), Malaysia will continue to provide a convenient environment for the business community, among others, to invest. ***

Source: Malay Mail

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