KUALA LUMPUR: Malaysia remains a favourite destination for international investors as the government has developed a conducive environment which encourages competition and promotes better economic performance, Putrajaya says.
The finance ministry, in a written reply in the Dewan Rakyat today, said this was proven by the continued net foreign investment inflow of RM39.2 billion in 2017.
“At the same time, international reserves remain strong at US$103.6 billion or RM419.1 billion on Feb 15, 2018,” it said to a question from Lim Lip Eng (DAP-Segambut).
The treasury said the country’s competitive standing, as reported in the World Economic Forum’s Global Competitiveness Report 2017-2018, had improved from 25th to 23rd out of 137 nations.
Malaysia also improved its standing to 59th position compared to 65th in the Human Development Index 2016, while moving up to 70th from 73rd in 2016 in the Global Liveability Ranking 2017.
Taking into account the strong economic fundamentals together with an improved economic forecast and global trade, the finance ministry said Malaysia’s economic growth was expected to continue at between 5 per cent and 5.5 per cent in 2018.
“The government is confident that with the continuing initiatives and efforts, the country’s economic growth will be sustained. The government will also continue to enhance efforts to achieve the status of an advanced high-income nation by 2020 and to expand the economy to reach RM2 trillion by 2025.
“The government has also launched the National Transformation 2050 to ensure Malaysia will be among the top 20 nations globally in terms of economic growth, public welfare and innovation by 2050,” it said. – Bernama