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Guan Eng: 2019 will be beginning of nation's economic development

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Finance Minister Lim Guan Eng is confident 2019 will see the beginning of economic development for Malaysia, given the country’s fiscal position which has begun to consolidate and the impressive increase in foreign direct investments (FDIs) into the country since 2018.

"We hope 2019 will be a more prosperous year for Malaysia. We have been able to strengthen our fiscal position since last year and this provided the confidence to foreign investors, as well as, international institutional funds that Malaysia was committed, in addressing problems inherited from the previous government.

"At the same time, we are committed to achieve our target and we have achieved the target. That is why we will see the beginning of economic development this year. We hope Malaysian investors can assume a role too and continue investing domestically," he told a press conference after the Chinese New Year open house hosted by the Penang Chinese Chamber of Commerce in George Town today.

Meanwhile, commenting on the East Coast Rail Link (ECRL), Lim, who is also Bagan MP, said the project was still in the negotiation stage and an official announcement would only be made after a final decision is reached.

"As I have said before, no comments will be made at this stage as the project is still being negotiated unless it is (comments) by Prime Minister Dr Mahathir Mohamad. Let us negotiate (first) without being influenced by news reports. Sometimes, news reports are not accurate and complicate negotiations.

”It’s best to refrain from making any comment (now) until a decision is reached and everything is in 'black and white'. Only then we will make an announcement,” Lim explained.

The proposed ECRL project is slated to link Kota Bharu in Kelantan to Gombak, Selangor, covering a total length of 688.3km with 44 planned tunnels along the route.

- Bernama

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