Malaysia’s economy is poised to achieve robust growth in 2025, with expectations of surpassing 5.0%, driven by strategic investments, resilient fiscal management, and strong economic fundamentals. This outlook comes from Finance Minister II, Dato' Seri Amir Hamzah Azizan, who shared insights with Bloomberg on Malaysia’s economic trajectory.
Amir Hamzah revealed that Malaysia’s Gross Domestic Product (GDP) performance exceeded expectations in 2024, surpassing both initial budgetary targets and the Bank Negara Malaysia (BNM) projections. He emphasized that last year’s success laid a solid foundation for continued economic momentum in 2025, aided by sustained foreign direct investment (FDI) and increased economic activity.
“We had a great year last year. This year, the tailwind will still continue,” Amir Hamzah stated. He noted that despite global market uncertainties, Malaysia’s economy remains resilient enough to stay on track, with growth anticipated to stay above 5.0%. Foreign direct investment continues to play a vital role in the country’s economic vitality, contributing significantly to the overall growth.
Furthermore, Amir Hamzah reiterated Malaysia’s commitment to open markets, positioning the country as an active participant in global trade despite evolving geopolitical challenges. “Malaysia is an open trading nation, and we do not like to choose sides. We have successfully navigated various global economic shifts in recent years, maintaining a resilient economic base that ranges from commodities to high-tech industries,” he emphasized.
The Finance Minister also highlighted Malaysia’s diverse economy, spanning manufacturing, services, electrical and electronics (E&E) sectors, and data centres, which are further boosting the country’s economic complexity. As geopolitical tensions rise, particularly with the potential introduction of protectionist policies under US President-elect Donald Trump, Amir Hamzah expressed hope that free trade principles will continue to prevail, benefiting Malaysia’s economic landscape.
In addition to resilient economic sectors, Malaysia’s currency, the ringgit, has gained nearly 3.0% in 2024, becoming one of Asia’s best-performing currencies. Amir Hamzah attributed this growth to strong FDI inflows, domestic investments, and the support from government-linked investment companies (GLICs) in chanelling profits back to Malaysia, which helped stabilize the currency. Despite external risks, the demand for the ringgit remains robust, fostering further economic stability.
With a solid economic foundation and a focus on free trade principles, Malaysia is confidently looking toward a promising 2025, ready to capitalize on strategic investments and global market opportunities.
By: Kpost
Information Source: TheSun(Bernama) , YouTube/BloombergTelevision
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