Malaysia achieves impressive economic milestones in 2024
Malaysia recorded over MYR2.62 trillion ($595 billion) in trade from January to November last year, an 8.7% increase year-on-year, according to Minister of Investment, Trade, and Industry Zafrul Abdul Aziz.
A view of Kuala Lumpur. Photo courtesy of internet.
On his Facebook page on January 3, Minister Zafrul highlighted key achievements under the New Industrial Master Plan 2030 (NIMP 2030), with 50% of its initiatives, including the National Semiconductor Strategy (NSS) and Green Investment Strategy (GIS), underway since their 2023 launch.
Approved investments reached MYR254.7 billion in the first nine months of 2024, a 10.7% rise year-on-year. Nearly 4,800 approved projects are set to create 160,000 new jobs, marking a 76% increase in employment opportunities and a 21% rise in project approvals compared to the previous year.
Looking ahead to Malaysia’s ASEAN Chairmanship in 2025, Zafrul underscored the ministry’s role in advancing economic leadership and fostering regional growth aligned with the theme of Inclusivity and Sustainability.
With strong performance in 2024, economists predict Malaysia’s GDP could grow by up to 6% in 2025.
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