Malaysia’s economy shows resilience with 5.2% Q3 growth projection, construction up 11%, and RM190 billion investments from January to June 2024
KUALA LUMPUR: The government’s efforts to enhance Malaysia’s economic diversity have proven successful based on third quarter performance indicators.
Finance Minister II and acting Economy Minister Datuk Seri Amir Hamzah Azizan cited the initial 5.2% GDP growth projection for Q3 as evidence of economic resilience.
He highlighted the construction sector’s projected 11% growth alongside private consumption and mining sector expansions exceeding 5% and 10% respectively.
“Our country’s economy is still resilient, taking into account the diverse economic segments that we have,” Amir Hamzah said during the Innovathon Programme launch.
“Our markets are also diversified and we are not dependent on just one market,” he added.
The minister noted foreign investor confidence remains strong with RM384 billion in approved investments last year.
Approved investments reached nearly RM190 billion for the January to June 2024 period, particularly in high-growth, high-value segments.
The Innovathon Programme saw participation double to 2,032 participants in 2025 compared to 1,003 in 2024.
Prize value for the programme’s Business Development Support Fund increased from RM1 million to RM1.65 million.
Fifty-six local innovators will compete for the RM100,000 grand prize plus RM500,000 in business development support.
This season’s innovations focus on technology-based solutions for automotive, industrial and health equipment applications. – Bernama
