Malaysia’s economy forecast to expand 4-5% in 2023
The Malaysian economy is anticipated to start moderating due to impact of global economic instability in the first months of 2023, the country’s Department of Statistics (DOSM) said on December 29.
Kuala Lumpur (VNA) - The Malaysian economy is anticipated to startmoderating due to impact of global economic instability in the first months of2023, the country’s Department of Statistics (DOSM) said on December 29.
Citing the Economic Outlook 2023 by the Finance Ministry,chief statistician Mohd Uzir Mahidin said the Malaysian economy is forecast tomoderate between 4-5% in 2023, in line with the International Monetary Fund’s(IMF) global forecast.
In its World Economic Outlook report for October 2022, theIMF projected the global economy to expand by 2.7% in 2023.
Meanwhile, Mohd Uzir said the growth forecast for the Asianregion was revised to 4.2% in 2022 from 4.3%, and to 4.6% from 4.9% in 2023,based on the recent Asian Development Outlook Supplement for December 2022.
The country’s inflation rate stood at 4% in November 2022,unchanged from the preceding month, said the DOSM./.
Malaysia’s Gross Domestic Product (GDP) growth is likely to exceed the earlier projection of between 6.5 % - 7% in 2022, according to Malaysian Prime Minister Datuk Seri Anwar Ibrahim.
Employers’ optimism is up following the stronger growth of 14.2% in the Malaysian economy in the third quarter of 2022and next year’s hiring activities would be higher, according to online employment platform JobStreet Malaysia.
Demand for electric vehicles (EVs) in Malaysia will grow significantly in 2023, driven by current incentives provided by the government as well as upcoming launches of more affordably priced EVs, according to Malaysian Automotive Association (MAA) President Aishah Ahmad.
Malaysia is ready to assist industries, exporters, and people to reap the benefits of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) which came into effect from 29 November 2022 for Malaysia, according to the country’s Ministry of International Trade and Industry (MITI).
The forum, which involves global experts and creative leaders from across 14 cultural sectors, aims to expand Thailand’s presence on the world stage through innovation and cultural exchange.
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.
Illustrative image (Photo: VNA) 
