KUALA LUMPUR: Malaysians should work together to strengthen the country’s economy as Malaysia is currently at a pivotal moment for economic growth, says Housing and Local Government Minister Nga Kor Ming (pic).
He noted the country’s record-high trade volume of RM1.69 trillion and an unexpected economic growth rate of 5.9% in the second quarter of the year.
“The Madani government has made substantial progress over the past two years, propelling the nation to new heights,” Nga said in a statement yesterday.
He added that the inflation rate had decreased to 1.9% while the unemployment rate had fallen to 3.3%.
The central bank’s foreign exchange reserves had reached their highest level in a decade.
“These positive developments indicate that Malaysia’s economy is on the right track.
“It is time for all citizens to come together and invest wholeheartedly in building the country’s economy, as development is key to prosperity,” he said.
In another development, Malaysia is participating in the 2024 China-ASEAN Expo (CAEXPO) in Nanning, Guangxi, with the prestigious designation of “Country of Honour”.
Transport Minister Anthony Loke had arrived in Nanning to represent the government at CAEXPO, following the successful state visit of His Majesty Sultan Ibrahim, King of Malaysia, to Beijing recently.
“In its 21st iteration, CAEXPO has honoured Malaysia with the prestigious title of Country of Honour, highlighting the nation’s prominent role in fostering regional trade and investment,” the Transport Ministry said in a statement yesterday as reported by Bernama.
It said Prime Minister Datuk Seri Anwar Ibrahim delivered his address virtually during the opening ceremony, which was officiated by China’s Vice Premier Ding Xuexiang.
The expo, which runs from yesterday till Saturday features the Malaysia Pavilion, showcasing the participation of 150 organisations, including 10 ministries and government agencies, as well as three prominent trade associations.
The ministry said the showcase highlights Malaysia’s strategic sectors, including manufacturing, agriculture and technology.
