Malaysia will remove its existing preconditions on employing foreign workers and allow demand-based employment in bid to boost its economy, said Minister of Home Affairs Saifuddin Nasution Ismail.
Malaysian Prime Minister Datuk Seri Anwar Ibrahim said his two-day official visit to Indonesia at the invitation of President Joko Widodo has met its objectives.
Malaysian Minister of International Trade and Industry Zafrul Aziz on January 5 affirmed that the Southeast Asian nation will continue implementing contents of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
Malaysia’s Prime Minister Anwar Ibrahim on January 4 said that Malaysia does not discriminate against any country in conducting COVID-19 checks on inbound travellers as its priority is the health and safety of the people.
Despite difficulties caused by COVID-19, international trade was considered Malaysia’s economic leverage in 2022, expanding by close to 30% to 2.613 trillion MYR (593.5 billion USD) for the period of January to November 2022, according to the latest figure published by the Department of Statistics of Malaysia.
The Malaysian economy is anticipated to start moderating due to impact of global economic instability in the first months of 2023, the country’s Department of Statistics (DOSM) said on December 29.
Employers’ optimism is up following the stronger growth of 14.2% in the Malaysian economy in the third quarter of 2022and next year’s hiring activities would be higher, according to online employment platform JobStreet Malaysia.
The Malaysian government’s direct debt stands at 1.07 trillion RM (242.7 billion USD) and the country is unlikely to ever record a surplus fiscal budget in the future, Deputy Finance Minister Datuk Seri Ahmad Maslan said when addressing the upper house on December 21.
Malaysia’s Gross Domestic Product (GDP) growth is likely to exceed the earlier projection of between 6.5 % - 7% in 2022, according to Malaysian Prime Minister Datuk Seri Anwar Ibrahim.
Severe flooding in parts of Malaysia has resulted in the displacement of over 56,000 people in five states, according to Government data on December 20.
Malaysia’s trade rose by 15.6% year-on-year in November to 238.17 billion RMB (about 53.6 billion USD), marking the 22nd straight month of double-digit growth, according to the Malaysia External Trade Development Corporation (MATRADE).
Malaysia’s property sector will continue to face many challenges in 2023, due to a clear oversupply of properties in certain sectors and locations in the country, said insiders.
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