KUALA LUMPUR Malaysia is on track to reclaim its "Asian Tiger" status, driven by strong economic growth, steady investment inflows and strategic positioning in key sectors, according to Finance Minister II Datuk Seri Amir Hamzah Azizan.
Amir Hamzah said a key area of focus is Malaysia's semiconductor and electronics industries, which are seeing increased investment due to the country's strong performance in these sectors.
He pointed to Malaysia's fortunate positioning in the global economy, noting that while the country has been lucky to be in the right place at the right time, it is also reaping the rewards of sound economic strategies.
"Malaysia is actually turning out to be among the winners in this space, particularly for the semiconductor and electronic space. We are getting more investments coming in, because our economy is actually good in the semiconductor space.
"As we said earlier, a couple of months back, Malaysia is on the path to becoming an Asian Tiger again. All the signs are right, and the country is progressing well," he said in one of the sessions at CGS International Securities Malaysia's environment, social, corporate governance and sustainability conference here today.
Meanwhile, Amir Hamzah said the initiatives outlined in 2025 Budget are designed to continue driving strong and sustainable economic growth for the country.
"The budget, actually, is about articulating how we continue to push the same driving steps which are necessary to deliver growth for the country.
"These initiatives are also part of efforts to position Malaysia favorably in the face of a challenging global economic environment, with the aim of re-establishing the country as an Asian Tiger," he added.
The term "Asian Tigers" was used in the 1980s and 1990s to describe the rapidly growing economies such as Taiwan, South Korea and Hong Kong.