Bursa Alert
Global Market
NewsChinese chamber bullish on 2013 economy
Page 1 of 1
Chinese chamber bullish on 2013 economy
by hlk Mon 19 Mar 2012, 19:22
The Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) today said the Chinese business community is less optimistic about the economic outlook for 2012 but remained
cautiously optimistic for 2013.
According to its survey on the economic situation in Malaysia for the second half of 2011, 58 per cent of respondents expressed confidence in Malaysia's economic performance and business outlook for 2012, down from 65 per cent in 2011.
On the other hand, 42 per cent are pessimistic or somewhat pessimistic about the economic outlook in 2012, an increase from 35 per cent in 2011.
Chairman of ACCCIM Commerce Committee, Dr Leong Kai Hin told a media conference here today that the Chinese business community perceived the economic slowdown as temporary and that it would reverse its trend and improve in the coming years.
This is reflected in the increased confidence in the performance of the Malaysian economy in the future years, with 65 per cent of respondents expressing optimism for 2013, up from 58 per cent in 2012.
In his speech at the conference, ACCCIM President Tan Sri William Cheng said growth prospects have become increasingly uncertain with the policy uncertainty on the resolution of the ongoing sovereign debt crisis in Europe, thus affecting the prospects for continued global growth.
"The challenging external environment could present greater downside risks to Malaysia's growth prospects and domestic demand is expected to be the key driver of growth," he said.
Meanwhile, foreign direct investment (FDI) inflows into Southeast Asian economies was expected to continue as macroeconomic conditions remain on a relatively more stable footing than its western counterparts.
"Malaysia is facing stiff competition in attracting FDI inflows with other ASEAN countries. Its enterprises, like other ASEAN countries, are now facing many challenges like market entry barriers, rising labour costs, increasing prices of raw materials and instability in the international market.
"Malaysian businesses continue to look towards the government to implement effective policies that can spur greater economic activities," Cheng said. -- Bernama
cautiously optimistic for 2013.
According to its survey on the economic situation in Malaysia for the second half of 2011, 58 per cent of respondents expressed confidence in Malaysia's economic performance and business outlook for 2012, down from 65 per cent in 2011.
On the other hand, 42 per cent are pessimistic or somewhat pessimistic about the economic outlook in 2012, an increase from 35 per cent in 2011.
Chairman of ACCCIM Commerce Committee, Dr Leong Kai Hin told a media conference here today that the Chinese business community perceived the economic slowdown as temporary and that it would reverse its trend and improve in the coming years.
This is reflected in the increased confidence in the performance of the Malaysian economy in the future years, with 65 per cent of respondents expressing optimism for 2013, up from 58 per cent in 2012.
In his speech at the conference, ACCCIM President Tan Sri William Cheng said growth prospects have become increasingly uncertain with the policy uncertainty on the resolution of the ongoing sovereign debt crisis in Europe, thus affecting the prospects for continued global growth.
"The challenging external environment could present greater downside risks to Malaysia's growth prospects and domestic demand is expected to be the key driver of growth," he said.
Meanwhile, foreign direct investment (FDI) inflows into Southeast Asian economies was expected to continue as macroeconomic conditions remain on a relatively more stable footing than its western counterparts.
"Malaysia is facing stiff competition in attracting FDI inflows with other ASEAN countries. Its enterprises, like other ASEAN countries, are now facing many challenges like market entry barriers, rising labour costs, increasing prices of raw materials and instability in the international market.
"Malaysian businesses continue to look towards the government to implement effective policies that can spur greater economic activities," Cheng said. -- Bernama
hlk- Moderator
- Posts : 19013 Credits : 45112 Reputation : 1120
Join date : 2009-11-14
Location : Malaysia
Similar topics» Maybank Kim Eng bullish on Malaysian economy
» Economy CIMB raises 2013 CA surplus to 4.2% of GDP from 2.7% after BNM data
» China Nov data shows economy on track for 2013 target
» Bank Negara Malaysia Annual Report 2013 Economy to remain steady in 2014, says central bank
» Share swapping not the best way: Chamber
» Economy CIMB raises 2013 CA surplus to 4.2% of GDP from 2.7% after BNM data
» China Nov data shows economy on track for 2013 target
» Bank Negara Malaysia Annual Report 2013 Economy to remain steady in 2014, says central bank
» Share swapping not the best way: Chamber
Page 1 of 1
Permissions in this forum:
You cannot reply to topics in this forum|
|
|