Malaysia's economy will enjoy stable growth this year: Experts

Malaysia will not face an economic recession this year as the country recorded an impressive 5.6% gross domestic product (GDP) growth in the first quarter of 2023, according to the country's central bank governor Tan Sri Nor Shamsiah Mohd Yunus.

Hanoi (VNA) – Malaysia will not face an economic recessionthis year as the country recorded an impressive 5.6% gross domestic product(GDP) growth in the first quarter of 2023, according to the country's central bank governorTan Sri Nor Shamsiah Mohd Yunus.

Mohd Uzir Mahidin, director of the Department of StatisticsMalaysia, attributed the positive economic growth in the first quarter of thisyear to an improvement in household spending, direct investment, the labourmarket, and tourism. Specifically, the service industry grew by 7.3% in the periodwhile the manufacturing, construction and agricultural sectors rose by 3.2%, 7.4% and 0.9%, respectively.

Malaysia recorded 12 billion RM (2.6 billion USD)  in foreign direct investment (FDI) at the endof the first quarter. This investment was mainly in the financial, mining, andmanufacturing sectors.

Inflation is forecast to remain high at 2.8-3.8% this year. Itstood at 3.9% in the first quarter of this year, showing that even when costshave been reduced, vibrant economic activity still creates pressure that spursconsumer demand and causes inflation to soar.

Despite the challenges that the economy is facing, Shamisahaffirmed that the Malaysian economy is on track to achieve GDP growth of 4-5%thanks positive signal of domestic demand, adding that the risk of highinflation mainly comes from domestic factors such as tourism activities and theimplementation of large infrastructure construction projects.

Malaysia’s Finance Minister Datuk Seri Anwar Ibrahim agreed,saying that to this end, the government will prioritise solving the economic challengesthat Malaysians have to deal with, especially combating wastefulness andcorruption./.

VNA

See more

Illustrative image (Photo: Internet)

Lao, Cambodian Parties vow to tighten ties

The 15th high-level meeting between the Lao People’s Revolutionary Party (LPRP) and the Cambodian People’s Party (CPP) took place in Vientiane, Laos on February 7.

Chinese President Xi Jinping meets with Prime Minister of Thailand Paetongtarn Shinawatra, who is on an official visit to China, at the Great Hall of the People in Beijing on February 6, 2025. (Photo: Xinhua)

Thailand, China strengthen bilateral ties

Thai Prime Minister Paetongtarn affirmed Thailand's commitment to deepening law enforcement cooperation with China and its neighbouring countries, pledging strong and decisive actions to combat cross-border crimes, including online gambling and telecom fraud.

Cambodian Senate President Samdech Techo Hun Sen begins visit to Laos. (Photo: cpp.org.kh)

Lao, Cambodian legislative bodies enhance collaboration

The two sides appreciated the strong and close collaboration between Laos and Cambodia as well as their legislative bodies, reflected through the implementation of the contents of the Memorandum of Understanding on cooperation between the two legislatures, such as all-level delegation exchanges, and experience sharing.

Chinese President Xi Jinping (right) and Brunei's Sultan Haji Hassanal Bolkiah Mu'izzaddin Waddaulah at their meeting in Beijing, China, on February 6, 2025. (Photo: Xinhua/VNA)

Brunei, China step up cooperation across multiple fields

Xi Jinping said China is ready to strengthen strategic connectivity with Brunei, encourage more Chinese enterprises to invest and start business in the country, and support Brunei in diversifying its economy and developing its digital economy, artificial intelligence, and new energy industries.

An office worker in Bangkok points to the Fineasy app on her Oppo smartphone. (Photo: bangkokpost.com)

Illegal mobile loan apps found in Thailand

The Bank of Thailand initially reported 10 verified illegal apps offering personal loans, including Fineasy and Happy Loan, to the Personal Data Protection Committee (PDPC) under the Digital Economy and Society (DES) Ministry.

A screenshot of the talk show (Photo: VNA)

Cambodian TV channel spotlights Vietnamese Party chief’s article

In a 10-minute talk show, Cambodian journalist Khieu Kolar analysed Vietnam's strategic orientations, especially the continued Party building and redtification, the streamlining of the political system, and the promotion of science and technology application and digital transformation in Party building.