Malaysia’s GDP is still moving positively in a structured manner, according to an economist.
KUALA LUMPUR: Malaysia will achieve a gross domestic product (GDP) growth of between 4.7 and 5.2 per cent over the next 3-5 years through infrastructure investment efforts by the government, an economist said.
IQI Group Holdings Chief Economist/Investment Strategist Shan Saeed said Malaysia is one member of ASEAN, where the GDP is still moving up positively in a structured manner.
“The High Speed Rail (HSR) project is a huge game changer for the region.
“Infrastructure investment has solid correlation with GDP growth and higher economic impact in terms of employment, skill development and social empowerment, and above all enhancing purchasing power,” he told Bernama today.
Shan said Prime Minister Datuk Seri Najib Tun Razak has demonstrated great diplomatic brinkmanship in attracting Chinese investments to the country.
The most prominent achievement of Najib’s trip to China recently was the signing of 14 agreements on several iconic and mega projects to the tune of RM144 billion between Malaysian and Chinese companies that will contribute to the country’s socio-economic growth.
He also witnessed the signing of 14 Memorandums of Understanding (MoUs) related to defence, economy, agriculture, education, finance and the construction sector between the two governments.
Shan said the prime minister has played his cards strategically and this will bolster GDP growth at the macro level.
“Credit goes to the prime minister and his team. The Chinese investment will provide a boost to the ringgit, not only in the short term, but also the long run,” he added.
Shan said Malaysia’s strong bilateral with China signifies the importance of the country in the geo-strategic game plan. – Bernama