The Government of Malaysia conducted a significant investor engagement session titled “Highlights for Growth” at UOB Plaza 1, the headquarters of UOB in Singapore. The event, held on July 26, 2024, was a collaborative effort supported by UOB Malaysia, CIMB, and J.P. Morgan, aimed at enhancing investor confidence and outlining Malaysia’s comprehensive economic strategies.
Leading the event were YB Senator Datuk Seri Amir Hamzah Azizan, Malaysia’s Minister of Finance II, and Dato’ Seri Abdul Rasheed Ghaffour, Governor of Bank Negara Malaysia. Their presentations and discussions focused on Malaysia’s growth strategies, economic outlook, and fiscal reforms, aiming to provide a thorough understanding of the government’s plans to potential investors.
The session saw the participation of over 100 financial investors and capital market players. It provided detailed insights into the implementation of the MADANI Economic Framework, a key government policy aimed at restructuring the economy and fostering sustainable growth.
“The MADANI Economic framework will restructure the economy and raise Malaysia’s growth within the next 10 years. It aims to strengthen fiscal sustainability through more transparent and resilient fiscal management, attract quality investments particularly in new growth areas, advance green growth to support the transition to a low carbon economy, and build a prosperous, inclusive society through more targeted policies. A positive outlook from analysts and rating agencies supported by encouraging economic figures shows Malaysia is making great strides to reclaim its Asian Tiger status,” commented YB Senator Datuk Seri Amir.
Ms. Ng Wei Wei, CEO of UOB Malaysia, highlighted the session’s importance in showcasing Malaysia’s potential as a prime investment destination. “We are honoured to host this investor engagement session at our headquarters in Singapore to showcase Malaysia’s attractiveness as an investment destination, particularly for portfolio investors. Based on the UOB Business Outlook Study 2024, Malaysia is the top country that businesses in ASEAN and Greater China want to venture into in the next three years. UOB will continue to play a meaningful role in facilitating investments into the country as part of our commitment to support the nation’s economic advancement.”
Echoing similar sentiments, Mr. Chu Kok Wei, Co-Chief Executive Officer of Group Wholesale Banking at CIMB Group, remarked: “We are pleased to be part of this engagement, elevating Malaysia as an attractive investment destination with strong prospects. The session is a pivotal opportunity to advance robust economic relations with all stakeholders and promote collaborations between all parties to align towards shared objectives and mutual benefits. Engagements such as this not only strengthen existing partnerships but also pave the way for effective strategies and sustainable economic growth for Malaysia.”
Ms. Hooi Ching Wong, Chief Executive Officer of J.P. Morgan Chase Bank Berhad, added: “We see Malaysia as a bright spot amidst tight global financial conditions. Policy reforms, data center investment, and infrastructure build-out have become key tailwinds for Malaysia. With a combination of resilient GDP growth and a sizable current account surplus, the country can offset global headwinds and exceed global GDP growth this year. We’re grateful for the opportunity to help promote this initiative and express our ongoing support for Malaysia’s efforts to further boost growth and the economy.”
