Strong Approved Investments Show Investors' Confidence In Malaysia

KUALA LUMPUR, Jan 23 (Bernama) -- Strong approved investments totalling US$34.4 billion in the first nine months of last year showed investors' confidence in Malaysia, given the stable political climate as well as continuity and certainty of policies, said the Ministry of International Trade and Industry. Its minister Mustapa Mohamed, who is attending the World Economic Forum (WEF) in Davos, Switzerland, said the successful execution of the government and economic transformation plans had contributed to Malaysia's macroeconomic stability, improved governance and integrity. "Malaysia has world-class infrastructure. Our economic diversity and broad-based exports give the country a certain level of resilience in facing the current challenges from low oil prices and slower global economic growth," he said in a statement Friday. Mustapa said Malaysia was also committed towards ASEAN's economic integration and the Trans-Pacific Partnership (TPP) which would make Malaysia more attractive to foreign investments. He said many investors and corporate leaders in Davos were optimistic about the potential benefits of the TPP and ASEAN Economic Community given the improvement in market access and reduction in trade barriers for their businesses and investments in Malaysia. The minister also hosted a business luncheon jointly organised by the ministry, Malaysian Investment Development Authority (MIDA) and the Swiss-Asian Chamber of Commerce, to showcase Malaysia's offering to international businesses and investors. The luncheon was attended by 56 foreign business executives and 20 leading Malaysian corporate figures including Petronas president and chief executive officer Wan Zulkiflee Wan Ariffin, Khazanah Nasional Bhd managing director Azman Mokhtar and UEM Group Bhd chief executive officer Izzaddin Idris. At the luncheon, Mustapa shared the latest updates on the Malaysian economy and highlighted measures undertaken to strengthen the fiscal and monetary positions in mitigating the current economic situation. --BERNAMA