Malaysia poised for developed, high-income nation status, says Ahmad Zahid

The Star

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi lauded the recent positive developments in Malaysia’s economy, citing the World Bank’s upward revision of the country’s gross domestic product growth forecast from 4.3% to 4.9% for this year.  Read more at https://shorturl.at/2TLmg  WATCH MORE: https://thestartv.com/c/news SUBSCRIBE: https://cutt.ly/TheStar LIKE: https://fb.com/TheStarOnline

Transcript

00:00After almost two years of the establishment of the government, we have seen a very positive development,

00:13especially in terms of economic growth.

00:17This success is due to the basic effects of the government,

00:24the strengthening of investment and trade, as well as the political stability that has been achieved.

00:31I am proud that the government of Malaysia has achieved the status of a developed country

00:40and a high income.

00:43It is now in the 6th place.

00:48Yesterday, the World Bank reported that the Malaysian economy has grown by 4.9%.

00:58In the beginning, it was only 4.3%.

01:04The Ringgit value also shows an impressive performance.

01:09In July, the Ringgit value increased by 2.5% compared to the US dollar.

01:19This is far beyond the performance of the Singapore dollar and the Rupiah, which only recorded an increase of 1%.

01:30The amount of investment also jumped to Rp160 billion in the first half of this year,

01:37which is an increase of 18% compared to the same period in 2023.

01:44The trade value also recorded an increase of 18.6% in August, the highest in 22 months.

01:55Inflation fell to 1.9% and unemployment stabilized at 33%.

02:03With Rp160,000 jobs created in the first two years.

02:09Ladies and Gentlemen,

02:12A large investment from five world tech companies,

02:16Media, Google, Microsoft, Amazon, Infineon, among others,

02:26has announced a US$20.2 billion investment commitment,

02:35which makes it possible for more investments to be made.

02:41There are still many achievements that we can be proud of as a Malaysian people.

02:46The Malaysian economy recorded a surge in trade value.

02:51The national interest increased.

02:53Diesel fueling has been maintained.

02:56And many more.

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