We’ll help businesses, boost investments, says PM

 

Prime Minister Anwar Ibrahim said early economic indicators showed that the government’s fiscal policy and the 2023 budget had yielded positive results. (Bernama pic)

PETALING JAYA: The government is committed to further enhancing the ease of doing business and supporting domestic direct investments, says Prime Minister Anwar Ibrahim.

Anwar, who is also the finance minister, said the government has taken various steps to stimulate and attract high-quality investments with the aim of fostering partnerships with local entrepreneurs and creating high-income job opportunities.

“To continue promoting domestic growth, the Cabinet has focused efforts on accelerating the implementation of government projects and streamlining approvals for business activities, including applications related to skilled expatriates,” he said in a statement.

Anwar held a dialogue session earlier today with business leaders, regulatory bodies and economists regarding measures to strengthen economic growth and stimulate domestic investment.

During the session, he emphasised the government’s commitment to drive inclusive and sustainable growth, restore confidence in public institutions and governance, and strengthen social justice for all Malaysians.

Anwar said early economic indicators showed that the government’s fiscal policy and the 2023 budget had yielded positive results despite various challenges since his administration took over last November.

Noting that Malaysia recorded encouraging Q1 2023 growth of 5.6%, he also said approved investments in Q1 2023 reached RM71 billion – a 60% increase over the RM45 billion recorded in Q1 2022.

He said credit rating reaffirmations by Fitch and Moody’s, in February and April respectively, reflected their confidence in the government’s commitment to maintain economic growth despite a challenging global outlook.

Anwar said that economic policies and priorities under the unity government would be further outlined in the New Industrial Master Plan in August, the mid-term review of the 12th Malaysia Plan in September, and the 2024 budget in October.

He also called on the public to provide suggestions on how to improve the nation’s economy via the “Voice Your Opinion” segment on the finance ministry’s website. - FMT