IN THE NEWS

IMF MAINTAINS MALAYSIA’S GDP GROWTH AT 6.5% IN 2021 The International Monetary Fund (IMF) maintains its forecast on Malaysia’s Gross Domestic Product (GDP) growth in 2021 at 6.5% and the country’s economy is expected to grow at 6.0% in 2022. IMF expects the country’s unemployment rate to decline to 3.8% in 2021 before further declining…

IMF MAINTAINS MALAYSIA’S GDP GROWTH AT 6.5% IN 2021 The International Monetary Fund (IMF) maintains its forecast on Malaysia’s Gross Domestic Product (GDP) growth in 2021 at 6.5% and the country’s economy is expected to grow at 6.0% in 2022. IMF expects the country’s unemployment rate to decline to 3.8% in 2021 before further declining…

MORE STABLE UNEMPLOYMENT RATE BY THE MIDDLE OF 2021 According to the Prime Minister’s Department (Economy), Malaysia’s unemployment rate is expected to be more stable by the middle of 2021. The unemployment rate in January 2021 was 4.9%, lower than the rate registered in May 2020 which was 5.3%. (The Edge Markets, 21/03/2021 & The…

MORE STABLE UNEMPLOYMENT RATE BY THE MIDDLE OF 2021 According to the Prime Minister’s Department (Economy), Malaysia’s unemployment rate is expected to be more stable by the middle of 2021. The unemployment rate in January 2021 was 4.9%, lower than the rate registered in May 2020 which was 5.3%. (The Edge Markets, 21/03/2021 & The…

PEMERKASA INITIATIVES FOR TOURISM, RETAIL AND COVID-19 AFFECTED SECTORS The Government has introduced new initiatives and extended existing ones for tourism, retail and other sectors that are affected by Covid-19 under the PEMERKASA stimulus package announced by the Malaysian Prime Minister. To further encourage domestic tourism, the government has extended the exemption for tourism tax…

RM55.8 BILLION INVESTMENTS IN GREATER KUALA LUMPUR In 2020, Selangor brought in RM38.7 billion while Kuala Lumpur recorded a total of RM17.1 billion investments in 2020, with Sarawak and Penang securing RM19.6 billion and RM16 billion in investments respectively in 2020. These five States alone contributed over 60% of total approved investments for 2020. The…

GOVT EXPECTS ECONOMY TO IMPROVE IN 2021, IN LINE WITH GLOBAL RECOVERY The government expects the Malaysian economic position to improve in 2021, in line with the global recovery, according to the Malaysian Prime Minister. The country’s economic recovery will be led by the services and manufacturing sectors, which account for more than 80% of…

HIGH-IMPACT ECERDC PROJECTS CAN IMPROVE LIVING STANDARDS OF KELANTAN FOLKS The Federal Government Malaysia through the East Coast Economic Region Development Council (ECERDC) is working closely with the Kelantan State Government to implement various high-impact projects and human capital programmes to generate socio-economic development in Kelantan. ECERDC has identified key sectors that have the potential…

LABOUR PRODUCTIVITY GROWTH TO IMPROVE Malaysia’s labour market has been suffering from weak productivity growth in the past several years and is lagging behind Singapore, Japan and South Korea, all of which are key regional economies that had once trailed Malaysia in terms of economic size per capita. In 2020, Malaysia’s labour productivity performance worsened…

MALAYSIA, INDONESIA AGREE IN PRINCIPLE ON RECIPROCAL GREEN LANE Malaysia and Indonesia have agreed in principle to implement the Reciprocal Green Lane (RGL) scheme or known in Indonesia as corridor travel arrangement to enhance bilateral trade. However, a follow-up was required to fine-tune the standard operating procedures involved. The RGL is not open to all…

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