KUALA LUMPUR, Aug 16 (NNN-Bernama) — Malaysia remains on the right trajectory for further economic recovery boosted by the surge in external demand supported by electrical and electronics (E&E), petroleum, rubber products, palm oil and chemical products, the Ministry of International Trade and Industry (MITI) said.<\/p>\n\n\n\n
It said this was based on the Bank Negara Malaysia (BNM) report on the country\u2019s second quarter of 2021 (Q2 2021) gross domestic product (GDP) which grew 16.1 per cent year-on-year against 0.5 per cent contraction in Q1 2021 with the manufacturing sector stood as the main contributor, recording a growth of 26.6 per cent in Q2 2021 against 6.6 per cent in Q1 2021.<\/p>\n\n\n\n
\u201cThis is achieved on account of our steadfast commitment to ensure that we effectively weather the challenges of the pandemic and emerge stronger and more resilient,\u201d it said in a statement Monday.<\/p>\n\n\n\n
It said in terms of investment performance, a 17.4 per cent jump in private investment in Q2 2021, totalling RM59.3 billion, against the corresponding period last year proved a positive reflection of enhancement in capital expenditure in the services and manufacturing sectors, which is crucial for the preservation of jobs and creation of new job opportunities.<\/p>\n\n\n\n
On foreign direct investment, it said the government would continue to attract more high-value investments in technology and innovation to position Malaysia as an alternative supply chain hub in Asia.<\/p>\n\n\n\n
\u201cAs a result of vigorous and strategically planned trade and investment missions undertaken during the period of January to June 2021, Malaysia secured a total committed investment of RM35.97 billion with the creation of 28,000 job opportunities as well as potential exports value of RM3.4 billion.<\/p>\n\n\n\n
\u201cFurthermore, the establishment of the One-Stop-Centre for Business Travelers to ease the movement of investors during the pandemic has facilitated 43 projects with potential investment value of RM115.8 billion,\u201d it said.<\/p>\n\n\n\n
MITI said export performance in 2021 is forecasted for further growth with the manufacturing sector ramping up production capacity to meet expansion in external demand.<\/p>\n\n\n\n
It said performance in the E&E, rubber gloves and medical devices sectors is expected to be given a further boost on account of continued robust demand for these products arising from the pandemic.<\/p>\n\n\n\n
\u201cThe government has taken swift and decisive action to ensure that we maintain economic stability and growth as well as manage the country\u2019s largest public health crisis,\u201d it said.<\/p>\n\n\n\n
It added that the government reiterated its commitment to partner with industries and business communities towards building a robust economy and ensuring the continued wellbeing and prosperity of the people.<\/p>\n\n\n\n
— NNN-BERNAMA<\/p>\n","protected":false},"excerpt":{"rendered":"
KUALA LUMPUR, Aug 16 (NNN-Bernama) — Malaysia remains on the right trajectory for further economic recovery boosted by the surge in external demand supported by electrical and electronics (E&E), petroleum, rubber products, palm oil and chemical products, the Ministry of International Trade and Industry (MITI) said. It said this was based on the Bank Negara […]<\/p>\n","protected":false},"author":17,"featured_media":86506,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[215,288,300],"tags":[],"_links":{"self":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/135160"}],"collection":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=135160"}],"version-history":[{"count":0,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/posts\/135160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=\/wp\/v2\/media\/86506"}],"wp:attachment":[{"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=135160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=135160"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/namnewsnetwork.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=135160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}