KUALA LUMPUR, February 29 – During the Opening Ceremony of the First Meeting of the Third Session of the 15th Parliament, His Majesty Sultan Ibrahim emphasized the importance of a proactive government approach in implementing the reform agenda to bolster Malaysia’s competitiveness and ensure a sustainable economy. Sultan Ibrahim stressed the necessity for attractive incentives, efficient governance, and state-specific policies to facilitate development, particularly in the diverse property sector.
His Majesty highlighted the gap between the quality of higher education graduates and available job opportunities, underscoring the need to attract high-quality investments to create suitable employment opportunities. Despite average economic growth and global trade performance, Malaysia’s economy remained sustainable, with a 3.7 percent growth in 2023, an unemployment rate of 3.3 percent, and an inflation rate of 2.5 percent.
Moreover, Sultan Ibrahim outlined key initiatives for 2024, including an estimated GDP growth of four to five percent supported by reforms announced in Budget 2024. The implementation of frameworks such as the Madani Economy and the drafting of strategic roadmaps and master plans demonstrate the government’s commitment to stimulating economic activity and enhancing living standards based on universal values.
