Right measures help buffer Malaysian economy from global economic headwinds

The government is currently undertaking the right measures to help buffer the Malaysian economy from global economic headwinds.

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said various policies and processes were in place under the Economic Transformation Programme to ensure Malaysia remained a preferred investment destination and to enhance investor confidence.

"Our attraction to investors did not come about by chance. The initiatives we have implemented and the constant reviews of our processes, have helped create a conducive environment for doing business in Malaysia," he said in his speech at the Malaysian International Chamber of Commerce and Industry (MICCI) National Corporate Ethics Award 2015 here, Tuesday.

His speech was read by International Trade and Industry Minister II, Datuk Seri Ong Ka Chuan.

Mustapa said his ministry was also undertaking several activities to ensure that investments would be sustained in the second half of 2015.

"As of June 2015, there are 156 projects in the pipeline with investments worth RM14.7 billion for both manufacturing and services sectors.

"For the manufacturing sector, about 55 per cent of the investments will be from domestic sources with foreign investments making up the balance," he said.

Despite the challenging global economic environment, Mustapa said new approved direct investments were at RM113.5 billion in the first half of 2015, up from RM112 billion in the corresponding period of 2014.

"The government will continue with its proactive approach to ensure that companies comply with statutory disclosure requirements," he added.