Economy Minister Datuk Seri Rafizi Ramli states that Malaysia remains on track to meet its 2025 GDP growth target despite the US-China trade war, citing factors like strong chip demand and Malaysia's role in the global supply chain. He also notes the positive outlook from investors, reflected in the strengthening ringgit.
From left: World Bank senior economist Dr Laura Rodriguez, country manager for Malaysia Judith Green, poverty and equity global director Dr Luis Felipe Lopez-Calva, country director for Philippines, Malaysia & Brunei Dr Zafer Mustafaoglu, Rafizi, Economy Ministry deputy secretary-general Datuk Dr Zunika Mohamed, World Bank executive director for Southeast Asia Wempi Saputra, Chief Statistician Malaysia Datuk Seri Dr Mohd Uzir Mahidin, World Bank senior economist Ririn Salwa Purnamasari and...
“The projection that the world is going to be more digital and AI is going to be mainstream has not changed. That means the demand for chips will go up, which will bolster Malaysia’s trade. Malaysia’s long-term plan to ensure that Malaysia plays a pivotal role in the global supply chain has not changed either,” he told reporters after the launch of the joint report by the World Bank and the Ministry of Economy titled “A Fresh Take on Reducing Inequality and Enhancing Mobility in Malaysia” today.
“So, I think we have to navigate some changes and volatility. I hope it is not going to be extreme,” Rafizi said, adding that the government is monitoring the situation closely, with the Ministry of Investment, Trade and Industry tasked with evaluating the trade war’s potential impact. “We will have to go through some adjustments and volatility. The question is whether it will be short- or medium-term. Eventually, the market will price in everything, provided that our fundamental growth narrative remains strong. And at the moment, I believe we still have a very strong value proposition for the world,” he said.
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