Malaysia is working hard to regain its position as one of Asia’s fast-growing economies, known as the “Asian Tiger,” said Finance Minister II Datuk Seri Amir Hamzah Azizan.
He said despite uncertainties caused by global issues like the US-China trade war and political shifts, Malaysia’s economy has stayed resilient.
Amir Hamzah noted that Malaysia has the ability to maintain growth thanks to a strong economic base that was built over many years.
He stressed the importance of staying competitive and not being satisfied with short-term progress.
GDP goals and strong currency outlook
Amir Hamzah, who took office in December 2023, shared that the 2024 GDP growth is expected to reach 5.5%.
He projected a slight drop to 3.8% in 2025, with a 3.5% target in 2026 — showing a consistent growth plan.
He also said that Malaysia’s currency has become one of the strongest-performing in Asia.
FDI and low unemployment boost outlook
During an online English-speaking session today, Amir Hamzah said Malaysia’s unemployment rate remains at a 10-year low of around 3%.
He also shared that foreign direct investment (FDI) hit a record high, showing that global investors have strong confidence in the country’s future.
The minister credited these results to the MADANI Economy framework, which is built on three main pillars.
He said the government will keep focusing on economic stability and carry out policies strictly and effectively until 2026.
Amir Hamzah said Malaysia’s growth plans are realistic and designed to stay strong during global uncertainties.
He added that achieving these targets will require firm decisions and full commitment to the reform plan.
What is the ‘Asian Tiger’ status?
The term “Asian Tiger” refers to economies that experienced fast growth and industrialisation, especially during the 1980s and 1990s.
Malaysia, along with Indonesia, the Philippines, and Thailand, was later known as part of the “Tiger Cub Economies”, a group of emerging Southeast Asian countries seen as taking on rapid development path.
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