The country is expected to bounce back faster than any of its peers in Southeast Asia. FMTNews Covid19 Pandemic Investment Technology
Penang drew RM6.8 billion in foreign direct investment in the first quarter of this year.
Approved investments in Penang nearly doubled from the previous three months, according to investment promotion agency InvestPenang. Fitch Ratings expects the country’s middle class, which includes 77% of households, to buffer the slump in external demand, while CGS-CIMB points to aggressive fiscal and monetary stimulus as reasons Malaysia should outperform others in Southeast Asia.Early signs of a rebound are evident in Malaysia’s exports: The trade surplus rose to a record in June as shipments climbed 8.8% from a year ago, driven by a 20-month high in electronics sales.
The government has been effective in containing the spread of coronavirus, with a relatively low case count and mortality rate, said Jochen Schmittmann, head of the International Monetary Fund’s representative office in Singapore. The IMF projects Malaysia’s economy will shrink 3.8% this year before growing 6.3% in 2021Risks, of course, remain. Malaysia remains wary of a resurgence of Covid-19, as new infections hit their highest level in a week on Wednesday.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BOJ’s Kuroda warns of renewed constraints on Japan economy from pandemic | Malay MailTOKYO, Aug 5 — Bank of Japan Governor Haruhiko Kuroda warned that economic activity could be constrained “significantly” again if strict public health measures are reinstated to prevent a further spread of the coronavirus pandemic. But he said that Japan was not slipping into deflation and...
Read more »
Ministry to help entrepreneurs affected by pandemic | The Malaysian InsightThis includes providing financing and training through various programmes.
Read more »
Asean must work together to curb Covid-19, minimise socio-economic impact - Dr Noor HishamKUALA LUMPUR: Asean members including Malaysia must work hand-in-hand to curb the spread of the Covid-19 pandemic and minimise the socio-economic impa...
Read more »
Multilingual customer experience hub Globee to increase headcount in Malaysia | Malay MailKUALA LUMPUR, Aug 5 — Globee, a next-generation multilingual customer experience hub, expects to increase its local headcount to 740 by year-end. A joint venture between Everise and UBASE, Globee experienced almost 250 per cent revenue growth year to year on May 30 2020. Founder and CEO of...
Read more »
Asean must work together to overcome Covid-19, says Noor Hisham | The Malaysian InsightWidespread effect of pandemic goes beyond borders, health D-G writes on FB.
Read more »
An alternative teaching, studying experience | New Straits TimesNSTletters The most pertinent question is whether teachers know when and how to use the tools. elearning coronavirus covid19 onlinelearning
Read more »