People walk on a street in Kuala Lumpur, Malaysia. (Photo: AFP/VNA) Kuala Lumpur (VNA) – Malaysian Minister of International Trade and Industry (MITI) TengkuDatuk Seri Zafrul Abdul Aziz named three top priorities to restore investors’ confidence,given the possibility of a global economic slowdown in 2023.
In a statement issuedon December 5, Tengku said it is necessary to ensure that trade remains themain growth engine while restoring investors’ confidence. MITI will reviewvarious bilateral and multilateral agreements to ensure that the formulation orimplementation of those documents generates real value and creates advantages forthe participants in the supply chain of Malaysia, especially micro, small andmedium enterprises.
According to Tengku, itis necessary to boost attracting foreign direct investment (FDI) into Malaysiaas capital is an important factor in economic recovery and it provides thecountry with one of the biggest foreign exchange sources.
He emphasised that thenational budget 2023 is expected to be submitted again to the NationalAssembly, and that MITI will propose the establishment of a special investmentfund to attract more high-value-added investments. It aims to create moreskilled and well-paid job opportunities for Malaysian workers.
Accordingly, MITI willfocus on several industries, especially electronics and electrical (E&E),aerospace, chemicals and petrochemicals, nanotechnology, medical technology,medical devices and smart manufacturing./.
