KUALA LUMPUR, August 18 — Investment, Trade, and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz expressed confidence in Malaysia’s economic resilience amid potential US recession concerns. Highlighting controlled inflation and a robust second-quarter growth forecast of 5.8%, Tengku Zafrul emphasized that Malaysia is well-positioned to manage external shocks. He stressed the importance of diversifying the economy and focusing on resilient industries to mitigate any adverse effects.
Speaking at the National Consultation Meeting on Green Trade, Tengku Zafrul reassured that Malaysia’s long-term National Semiconductor Strategy (NSS) remains on track despite possible economic fluctuations. He also underscored the need for extending green financing to SMEs to support their growth and compliance with international standards. The government’s ongoing discussions with financial institutions aim to prioritize loans that bolster these critical sectors.
