Malaysia’s trade, investment targets in 2024 achievable: official
The trade and investment targets that Malaysia set for this year are achievable despite the ringgit’s current depreciation versus the US dollar, as many other major fundamentals remain attractive and appealing to global investors, said Malaysian Minister of Investment, Trade and Industry Zafrul Abdul Aziz.
KualaLumpur (VNA) – The trade and investmen🥀t targets that Malaysia setfor this year are achievable despite the ringgit’s current depreciation versusthe US dollar, as many other major fundamentals remain attractive and appealing toglobal investors, said Malaysian Minister of Investment, Trade and IndustryZafrul Abdul Aziz.
Hesaid investors will look at the long-term outlook and fundamentals in makingtheir decisions. Speakingto the media on February 22 after launching BYD Malaysia’s latest electric vehicle marque, BYDSEAL, the minister said the Malaysian currency is one of the major factors.Investors want to see the stability of the ringgit. Headded that he thinks the currency is within the stable range. Investmentsare important for economic growth, he said, noting that investments currentlyaccount for approximately 22% of the national gross domestic product (GDP). Zafruladded that the government is looking at a 5% growth in trade this year,slightly higher than the 3% global trade growth projected by the World TradeOrganisation. Accordingto Zafrul, investors usually take between six months and up to one year todecide on their investments, and up to two years to set up their factory in therespective country, therefore they will not look at currency fluctuations toomuch./.
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Illustrative photo (Photo: VNA) 
