Malaysia’s Gross Domestic Product (GDP) forecast of between 6 and 7.5 percent this year will be revised, according to Finance Minister Tengku Zafrul Tengku Abdul Aziz.
Malaysia Finance Minister Tengku Zafrul Abdul Aziz. (Photo: BERNAMA)
Kuala Lumpur (VNA)♎ – Malaysia’s Gross Domestic Product (GDP) forecastof between 6 and 7.5 percent this year will be revised, according toFinance Minister Tengku Zafrul Abdul Aziz.
He attributed it to the impact of the Full Movement Control Order (FMCO) which hasbeen applied since the beginning of June.
Speaking at a news conference on June 29, Zafrul Aziz said a hope of a strong economicrecovery for the Southeast Asian nation is dampened by the severe restrictions imposed under Phase 1 of the National Recovery Plan.
Earlier on June 24, the World Bank (WB) revised down Malaysia’s GDPgrowth forecast to 4.5 percent in 2021 from 6 percent estimated in March amid adramatic resurgence of the COVID-19 pandemic beginning in mid-April in the latest edition of Malaysia Economic Monitor.
According to WB’s economists, Malaysia’s economic recovery is being hindered bya resurgence in infections since mid-April, coupled with the re-imposition ofthe Movement Control Order (MCO) that is expected to have a significant impacton private consumption.
🐻 Malaysia's economy had shrunk by 17.1 percent in the second quarter of2020, continued to shrink by 2.7 percent and 3.4 percent in the following twoquarters, and fell by 5.6 percent for the whole year. In the first quarter of this year, although Malaysia had to impose travelrestrictions, the economic decline slowed down to only 0.5 percent./.
The Malaysia Digital Economy Corporation (MDEC) has announced the MyDigitalWorkForce Work In Tech (MYWiT) initiative, described as a training and hiring programme aimed at boosting the digital business services sector as well as developing quality tech talents in the country.
Malaysia will likely record a strong economic recovery in the fourth quarter of this year if the government's actions to contain the coronavirus are proven to be effective in bringing down the number of COVID-19 cases.
The World Bank (WB) has revised down Malaysia’s GDP growth forecast to 4.5 percent in 2021 from 6 percent estimated in March and 6.7 percent last December amid a dramatic resurgence of the COVID-19 pandemic beginning in mid-April.
The Malaysian government will soon announce a comprehensive form of assistance for various groups in the country who are affected by the strictest movement control or Phase One under the National Recovery Plan to curb the spread of COVID-19, said Prime Minister Tan Sri Muhyiddin Yassin.
Laos recorded 10 new cases of COVID-19 over the past 24 hours, including one community infection in Vientiane and nine imported cases, the Lao Health Ministry said on June 27.
A six-month moratorium will be given to all individual borrowers whether they are from the B40 (Bottom 40 percent), M40 (Middle 40 percent) or T20 (Top 20 percent) groups, or micro-entrepreneurs, Malaysian Prime Minister Muhyiddin Yassin said on June 28.
Malaysia will launch a national policy on the fourth Industrial Revolution (National 4IR Policy) on July 1 in order to drive the integrated efforts in transforming the socio-economic development through the use of advanced technology.
In his article, Oscar Sanchez Serra highlighted President Ho Chi Minh’s founding of the Thanh Nien (Young People) newspaper on June 21, 1925, which marked the birth of Vietnam's revolutionary press rooted in a bold and far-sighted vision.
Several ASEAN meetings are scheduled to take place in Port Dickson this September, including the Senior Officials' Meeting (SOM) for ASEAN Plus Three (APT), the East Asia Summit (EAS), the 15th ASEAN Maritime Forum, and the 13th Expanded ASEAN Maritime Forum.
Thailand's Prime Minister Paetongtarn Shinawatra has ordered the urgent implementation of a national policy to crack down on all forms of call centre scams, online fraud, and illegal gambling, which are now considered threats to national security.
Coordinating Minister for Economic Affairs Airlangga Hartarto and EAEU Trade Minister Andrey Slepnev jointly declared the conclusion of FTA talks on the sidelines of the 28th St. Petersburg International Economic Forum (SPIEF 2025), according to the statement.
The article stressed that throughout his revolutionary career, the founder of modern Vietnam consistently regarded the revolutionary press as a vital part of the Vietnamese Party’s and nation’s revolutionary struggle.
Pichai said the trade talks with the US are important and need to move forward professionally, without regard for any political changes in Thailand, believing that Thailand has clear principles, guidelines and procedures in place.
The tax adjustment supports the Malaysian Government’s strategy to reduce reliance on foreign food supply chains and to assist domestic farmers, a finance official has said.
The proposed venue is located in the Chatuchak area of Bangkok, featuring eight public sites, including Krungthep Aphiwat Central Terminal and several nearby parks.
Connectivity is expected to improve further with the completion of the fifth Laos–Thailand Friendship Bridge by the end of 2025, facilitating logistics and agricultural exports to Vietnam, Thailand, and China.
Two naval gunboats intercepted a fishing vessel carrying 1.5 tonnes of methamphetamine hydrochloride off the coast of the main island of Luzon just before dawn, in a joint operation with the Philippine Drug Enforcement Agency.
In the today context of socio-economic development and growth, the professionalism of Vietnam’s revolutionary journalists continues to rise, guided by exemplary mastery of new information technologies and the modernisation of their founding principles to preserve the enduring values of revolutionary journalism.
Thai Permanent Secretary of the Ministry of Commerce Vuttikrai Leewiraphan Thailand's formal proposal will be substantial enough for the US to consider further detailed negotiations. He hoped for a tariff rate not exceeding 10% and suggested that the US might extend the negotiation period if an agreement is not reached by the July 8 deadline.
Organised by the Ministry of Culture and the Association of Thai Silk & Culture Promotions, the event honors Her Majesty the Queen on her 47th birthday anniversary and promotes Thai craftsmanship on an international stage.
Prensa Latina's recent article on Vietnam’s assurance of smooth and effective transition to a leaner structure highlighted Prime Minister Pham Minh Chinh’s latest directions on implementing 28 resolutions regarding the decentralisation and delegation of authority.
The lab focuses on four key thematic areas: energy transition and green innovation, sustainable agriculture, circular economy and sustainable cities, and nature-based solutions and biodiversity.
The key content of the document titled "Accelerating Innovative Strategies: Addressing the OOSCY Challenges" will be refined further in a seminar preceding the 47th ASEAN Summit in Kuala Lumpur this October.
This follows Telegram’s serious failure to address the content that has been repeatedly reported to them, despite various efforts of negotiation and cooperation made by MCMC, it said.
Malaysia Finance Minister Tengku Zafrul Abdul Aziz. (Photo: BERNAMA) 
