Malaysia's Economy Remains on Firm Footing

Malaysia's economy remains on a firm footing with the country's economy projected to grow by 4.0 to 4.5% in 2016, Malaysia's Prime Minister Najib Razak assured German business leaders.

The economy expanded by 4% in the second quarter of this year following a 4.2% growth in the first quarter of the year. He said since 2009, Gross National Income had increased by nearly 50% and 1.8 million jobs had been created, according to Malaysia's (Bernama) News Agency.  "Because our fundamentals are strong, Malaysia continues to attract considerable foreign direct investments, and in fact, this year is looking particularly good for us," Najib said. 

Najib, who is also Finance Minister, is on a three-day official visit to Germany on the invitation of its Chancellor Angela Merkel. Najib said last year, Malaysia approved a total of US$8.4 billion in foreign direct investments (FDIs).  "I am pleased to be able to say that in the first half of this year, approved FDIs reached 83.3% of the total foreign investments approved for the whole of last year.  "We expect the figures to increase even more towards the end of 2016," he added. 

Source : XINHUA