Malaysia bullish on private investment outlook this year

PUTRAJAYA: The Government is upbeat on private investment outlook in Malaysia this year, which is considered as one of the key drivers of the country’s economic growth, amid moderate global economic recovery.

“We are bullish on private investment, moving forward,” said Minister in the Prime Minister’s Department, Datuk Seri Idris Jala, after attending an exclusive multinational corporations networking event organised by InvestKL here yesterday.

He said Malaysia would now always be on investors’ radar after surging to sixth position from 12th among 189 economies in the ease of doing business, according to the latest World Bank Ease Of Doing Business Report 2014.

Bank Negara yesterday announced that growth in private investment expanded 16.5% in the fourth quarter last year compared with 15.2% in the third quarter, on account of higher capital spending in the services and manufacturing sectors.

Meanwhile, International Trade and Industry Minister Datuk Seri Mustapa Mohamed hoped that Malaysia would continue to record double-digit growth in foreign direct investments (FDIs) this year on the back of the country’s sound economic fundamentals.

He said Malaysia had broad-based economic growth comprising investment, private consumption and trade that would help the country cushion impacts of any economic situation.

Malaysia recorded inflows of US$10.16bil in 2012 and maintained its ranking as the third largest recipient of FDIs in Asean in the World Investment Report 2013 by the United Nations Conference on Trade and Development. — Bernama