KUALA LUMPUR, July 18 — The Investment, Trade, and Industry Ministry (Miti) maintains the investment growth projection at 5.0 per cent this year despite the domestic economic recovery environment.
Its minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said the target, set by the Malaysian Investment Development Authority, is in line with the gross domestic product (GDP) growth target.
"In the first quarter of 2024 (1Q 2024), we have made an announcement, an increase (in investment) of 13 per cent compared to the same quarter last year. For now (the investment target) is officially at 5.0 per cent, but we will review this based on the pipeline.
"At the moment, the 5.0 per cent (target) is based on the correlation with the GDP target of between 4.0 and 5.0 per cent...but we will see, there are things that are out of our control," he said.
Tengku Zafrul was speaking to the press after presenting the ministry’s report card for the second quarter of 2024 today.
Moving forward, he said the digital and green economy sectors will be the key drivers of Malaysia’s economic growth, apart from the services sector.
— Bernama
