Friday, July 12

Despite global unrest, the Malaysian economy is resilient, says Bursa chairman

Despite the unpredictability of the world economy and geopolitics, the Malaysian economy has continued to be resilient and develop new capabilities, according to Abdul Wahid Omar, chairman of Bursa Malaysia.

He asserted that the administration has proven its steadfast commitment to boosting the economy through ongoing investments, the creation of new strongholds, and a streamlining of policies to promote growth.

“As revealed in the recent mid-term review of the 12th Malaysia Plan (12MP), our real gross domestic product (GDP) growth is poised to grow at plus 5–6 percent between 2021 and 2025, with private consumption shares and services-to-GDP ratio surpassing initial targets.

“One striking example of this collaborative effort is the National Energy Transition Roadmap (NETR), an ambitious shift towards one of the world’s fastest-growing sectors.”

He noted that, compared to pre-pandemic levels in 2019, expenditures in renewable energy hit a record high of US$1.3 trillion (RM5.8 trillion) in the world in 2022.

Wahid made the remarks during the Invest Malaysia New York forum, which was organised by Bursa in New York, US.

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