Azmin optimistic on achieving 4.9 pct economic growth
Economic Affairs Minister Mohamed Azmin Ali today said renewed confidence from investors will help the country's economy achieve its 4.9 percent growth projection for this year.
"We are quite optimistic because, as mentioned by the prime minister, the level of confidence by investors is very forthcoming...
Economic Affairs Minister Mohamed Azmin Ali today said renewed confidence from investors will help the country's economy achieve its 4.9 percent growth projection for this year.
"We are quite optimistic because, as mentioned by the prime minister, the level of confidence by investors is very forthcoming.
"Looking at latest statistics of FDIs (foreign direct investments) and DDIs (domestic direct investments), all are very positive," Azmin told reporters in Putrajaya today after attending Prime Minister Dr Mahathir Mohamad's special address in conjunction with Pakatan Harapan's first anniversary in power.
"That shows the level of confidence is back in the system.
"We should be able to retain the targeted growth," Azmin further said.
The Finance Ministry last week said it will maintain the current 4.9 percent growth projection for the country this year, despite the latest Nikkei Malaysia Manufacturing Purchasing Managers' Index (PMI) reading indicating a possible projection of 5.2 percent.
Its minister Lim Guan Eng said the ministry welcomes the latest PMI reading for Malaysia, which rose to its highest level in seven months at 49.4 points in April.
According to Nikkei, the business confidence level in April was also the highest since October 2013.
Malaysia had previously recorded a 4.7 percent growth in its gross domestic product in 2018, and 5.9 percent growth in 2017.
Quizzed on whether Putrajaya would restart investments in large-scale development projects, Azmin merely said a stronger economy would allow the government to set new priorities and re-evaluate decisions to review various infrastructure projects due to budget constraints.
Without going into further details, Azmin noted that areas to be looked into include infrastructure and public transportation.
"But we must make sure the governance is in place so there will be no corruption.
"And the whole process must be transparent and above board," he stressed.
In a media interview ahead of Harapan's first anniversary celebrations today, Mahathir had described negotiations with China to bring down construction costs of the East Coast Railway Link (ECRL) project as one of the government's successes.
Last month, Mahathir revealed that, apart from saving RM21.5 billion after the ECRL’s price tag was slashed from RM66.5 billion to RM44 billion, Putrajaya also gained several other concessions from the Beijing-owned China Communications Construction Company (CCCC).
In his special address today, Mahathir outline his "Shared Prosperity" vision for the nation with the aim of ensuring Malaysia continuously develops in a sustainable manner with equitable growth for all.
