<\/p>\n\n\n\n
KUALA LUMPUR, July 28 (NNN-Bernama) — Malaysia’s economic fundamentals are still strong and its growth prospect for the medium term is still bright, supported by a stable capital market, while the financial sector has ample liquidity and capital buffer, said Finance Minister Tengku Zafrul Abdul Aziz.<\/p>\n\n\n\n
He said among the issues raised by the Members of Parliament during the Special Parliament Meeting were whether the investors’ confidence was affected following the COVID-19 pandemic in the country.<\/p>\n\n\n\n
\u201cA brief answer, no. Foreign investor confidence (is) still intact on Malaysia’s economic recovery prospects. Last month, international rating agencies such as Standard & Poor’s and Moody\u2019s Investors Service gave ratings of A- and A3 respectively to Malaysia,\u201d he said in the 63rd Implementation and Coordination Unit Between National Agencies (LAKSANA) report today.<\/p>\n\n\n\n
Last week, Fitch Ratings also maintained Malaysia’s rating at BBB+.<\/p>\n\n\n\n
\u201cSuch ratings are not given simply, especially not for a country that is considered a ‘failed’ state. Historically, the level of foreign direct investment (FDI) and business environment in the country remains stable amid the current political landscape.<\/p>\n\n\n\n
\u201cFor instance, the government transition was done peacefully and orderly in 2018, while despite the political polemics in 2020, Budget 2021 was approved by the Parliament,\u201d he said.<\/p>\n\n\n\n
Besides that, he said foreign investors also have the confidence and belief in the strength of the country’s institutions, wherein the FDIs have shown an increasing trend.<\/p>\n\n\n\n
For the first quarter of 2021 (Q1), the country recorded foreign investment inflows of RM9.1 billion, an increase of 33.8 per cent year-on-year (Q1 2020: RM6.8 billion).<\/p>\n\n\n\n
Malaysia also continues to receive various foreign investments totalling almost RM60 billion recently, from renowned international companies including investment from Microsoft amounting to US$1 billion (RM4.2 billion), Risen Energy Co Ltd (RM42.2 billion) and an investment of RM750 million by GIC Pte Ltd in Sunway Healthcare Holdings.<\/p>\n\n\n\n
At the same time, Malaysia’s trade breached RM1 trillion over a six-month period, the shortest period it recorded to achieve this benchmark.<\/p>\n\n\n\n
For the first-half of 2021, the total trade was worth RM1.056 trillion, an expansion of 26 per cent compared with the same period last year.<\/p>\n\n\n\n
Exports rose 30.2 per cent to RM585.56 billion and imports increased 21.1 per cent to RM470.53 billion.<\/p>\n\n\n\n
\u201cThis is the highest half-year value recorded for trade, exports and imports. Trade surplus also jumped 87.7 per cent to RM115.04 billion,” said Tengku Zafrul.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
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