The deputy minister also stresses the external nature of many of Malaysia's economic challenges.
PETALING JAYA: Deputy International Trade and Industry Minister Ong Kian Ming today said the economy is resilient enough to weather the coming economic storms, days after a prominent economist warned of “tough times” ahead.
However, he said there are also signs that Malaysia’s economy which he called well-diversified can withstand some of the global challenges to come. “I am cautiously optimistic that the overall export figures for the first half of 2019 will show a positive growth,” he said in a statement. Foreign investments, which comprise 54.4% of total approved investments, increased by 73.4% from RM16.9 billion to RM29.3 billion, driven largely by increased approved investments in the manufacturing sector.
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