COMMENTARY, Jan 13 ― 2023 will be a challenging year for most developing economies ― Malaysia included ― against the backdrop of a lacklustre global growth forecast, and...
COMMENTARY, Jan 13 ― 2023 will be a challenging year for most developing economies ― Malaysia included ― against the backdrop of a lacklustre global growth forecast, and possibly a long-lasting one, too. Although Malaysia’s domestic growth outlook will continue to be positive, weak global economic prospects and geopolitical uncertainties are likely to impact an open, trading nation like Malaysia, in one way or another.
It was therefore very timely that Prime Minister Datuk Seri Anwar Ibrahim recently made his first official trip abroad to Indonesia, who is chair of Asean this year. As Malaysia’s minister of International Trade and Industry , I was pleased to have been part of this very productive sojourn. In taking this relationship forward, it’s high time both nations’ policymakers coordinated to identify important and critical industries that are scalable. Hence, it was also good that during the two-day trip, our prime minister witnessed nine MoU exchanges between Malaysian and Indonesian companies in various sectors. The MoUs represent a cumulative value of RM1.66 billion.
All these, and more, made for rich discussions during meetings with my counterparts, many of whom have become friends over the years, and many that I had met while heading a regional bank prior to 2020. They include Coordinating Minister for Maritime Affairs and Investment, His Hon. Luhut Binsar Pandjaitan; the Minister of State-Owned Enterprises, His Hon. Eric Thohir; and the Minister of Industry, His Hon. Agus Gumiwang Kartasasmita.
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