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Miti maintains investment growth projection at 5% for 2024

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Tengku Zafrul Aziz,MITI,Investment

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KUALA LUMPUR: The Ministry of Investment, Trade and Industry maintains the investment growth projection at 5.0 per cent this year despite the domestic economic recovery environment.

"At the moment, the 5.0 per cent is based on the correlation with the GDP target of between 4.0 and 5.0 per cent...but we will see, there are things that are out of our control," he told reporters after presenting the ministry’s report card for the second quarter of 2024 here, today. Regarding the impact of the strengthening ringgit against the US dollar, Tengku Zafrul said the ringgit is not the only primary indicator in investor evaluations.

When foreign investors decide to invest in the country, it would take about two years or more to see the impact, he added.

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