Marked increase in investor confidence, says Mukhriz

There has been a marked increase in investor confidence among local and foreign investors to invest in various economic sectors in Malaysia since early this year, says Deputy Minister of International Trade and Industry Datuk Mukhriz Mahathir.

The investors’ keen interest was a positive development, signifying that the country’s economy was well on the recovery path, he said, but did not disclose the number of investors who have expressed interest to invest or made enquiries.

“Even in trade, we find that there has been significant growth. In line with what the Prime Minister (Datuk Seri Najib Tun Razak) has said, we are confident that, barring any unforeseen circumstances and developments beyond our control locally and globally, we will witness marked improvements in our economy this year,” he told reporters when asked to comment on the country’s economic prospects this year.

Earlier, Mukhriz attended the Kedah Umno liaison committee meeting at Pulau Mabul, about 30 minutes speedboat ride from Semporna town.

Mukhriz said that although the export sector was the main driver to the country’s economic recovery, the manufacturing and services sectors, which registered positive growth in the fourth quarter of last year, are also being given attention.

“While we are trying to boost exports, we are also giving specific attention to domestic investments and the services sector. These are our new approaches that will assist us to stabilise the economy,” he said.

On initiatives to woo Foreign Direct Investments (FDIs) to the country, Mukhriz said Malaysia welcomed FDIs from all countries, including traditional investors like China, India, the United States, Europe and West Asia.

Prime Minister Datuk Seri Najib Tun Razak, when announcing the 2009 fourth quarter economic performance on Wednesday, said the worst was over for the country.

The 4.5 per cent economic growth registered in the fourth quarter of last year was beyond expectation, amid strengthened domestic and external demand, said Najib, who is also Finance Minister.

For the year 2009, the economy contracted by 1.7 per cent, lower than the -3 per cent projected earlier, he added. – Bernama