Economic diversification efforts bear fruit, says Finance Minister II

THE Government’s push to diversify its economy has proven effective, reflected in the robust performance of competitive sectors projected for the third quarter of this year, said Finance Minister II and Acting Economy Minister Datuk Seri Amir Hamzah Azizan.

He said all economic sectors appeared vibrant in the third quarter, citing preliminary projections by the Department of Statistics Malaysia (DOSM) showing overall gross domestic product (GDP) growth of 5.2 per cent.

The minister noted that the early forecast signalled strong, competitive growth despite a challenging global economic environment, with the construction sector expected to expand by 11 per cent, private consumption by over five per cent and mining by more than 10 per cent.

“Our nation continues to demonstrate economic resilience when we look at the diversity of our economic segments,” he said. “In terms of markets too, there is diversity, and we are not dependent on just one market.”

He was speaking at the launch of the third season of the Innovathon Programme organised by the Ministry of Economy today. - November 10, 2025