KUALA LUMPUR: Malaysia's economic transformation momentum is expected to accelerate in 2024, according to Finance Minister II Datuk Seri Amir Hamzah Azizan.
This reflects strong fundamentals and investor confidence, bolstered by sound policies, he said.
Amir Hamzah that the Madani Economy framework, which mapped out fresh strategies for Malaysia's economic growth and identified new growth industries, has started to bear positive results, as evidenced by the economy's continuing expansion.
"This is further catalysed by the economic measures outlined in the 2024 Budget and the government's commitment to introduce responsible fiscal management while ensuring the welfare of vulnerable communities is protected.
"The implementation of strategies and measures under the National Energy Transition Roadmap (NETR), the New Industrial Master Plan (NIMP) 2030, and the ongoing Twelfth Malaysia Plan (12MP) initiatives will continue to attract quality investments in high-value-added industries.
"This in turn will create high-income jobs and enhance the people's quality of life," he said in his keynote address at the Malaysian Institute of Accountants (MIA) Conference 2024 today.
Amir Hamzah also touched on the Madani government's reform agenda and the critical role of accountants in sustainable nation-building.
"As the government continues to pursue systemic reforms to curb corruption, waste, and leakages, accountants play a pivotal role as proponents of good governance and ethical business practices, digital playmakers, and environmental, social, and governance (ESG) enablers," he said.
Amir Hamzah said that global investors are showing a renewed interest in the reform narrative.
He said this is reflected in the optimism of the domestic capital markets and exemplified by the FBM KLCI etching new highs as well as foreign direct investment (FDI) committed by global companies like Microsoft, Google, Byte Dance, Infineon Technologies, and Tesla.