Economic News

Mustapa to lead M’sian delegation to WEF – New Sarawak Tribune
The Malaysian delegation to the World Economic Forum’s (WEF) annual meeting will be led by International Trade and Industry (Miti) Minister, Datuk Seri Mustapa Mohamed. The event will be held Jan 17-20 in Davos-Klosters, Switzerland. Miti, in a statement yesterday, said Mustapa is scheduled for bilateral and business meetings with his counterparts and several multinational companies to exchange views on the latest developments in trade and investment. “He will be hosting a business luncheon with about 80 top international corporate executives interested in expanding their business and investments in Malaysia,” it said. Mustapa will also be chairing a roundtable meeting with investors from industries such as machinery and engineering, pharmaceuticals, as well as
banking and financial services in Zurich. Also joining the delegation are seven local companies, who are also members of the WEF, namely CIMB Group Holdings Bhd, Air Asia Bhd, Astro Malaysia Holdings Bhd, Khazanah Nasional Bhd, Sapura-Kencana Petroleum Bhd and YTL Corporation Bhd. The 2017 WEF, themed, “Responsive and Responsible Leadership” is expected to attract more than 2,500 participants, including 300 heads of state or government, government representatives and 1,500 global corporate leaders.

Country’s Economy on a Stronger Footing – New Straits Times
THE Malaysian economy is on a stronger footing, which augurs well for another year of healthy growth in 2017, economists said. The country’s economic fundamentals remained intact, and should see improvements in gross domestic product (GDP) growth this year and the next, albeit at a slower pace, said Universiti Utara Malaysia Asian Research Institute of Banking and Finance director Dr Irwan Shah Zainal Abidin. “Growth prospects remain robust, the inflation rate is stable and the unemployment rate is still in the full employment category,” he told the New Straits Times. Irwan said the financial sector also remained solid and the country’s monetary policy was still ahead of the curve. According to The Economist, Malaysia was ranked the 8th fastest growing economy last year and was expected to maintain the position this year. Its interactive table of economic and financial indicators last week predicted Malaysia’s GDP growth to increase to 4.6 per cent this year. MIDF Amanah Investment Bank Bhd chief economist Dr  Kamaruddin Mohd Nor said private consumption had shown positive growth based on indicators such as wholesale and retail trade. “A combination of the stable domestic political scene, supportive policies and good institutional support are among the key factors that helped Malaysia boost economic growth amid a a subdued external sector,” he said.

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