KUALA LUMPUR (July 13):  The Malaysian government is optimistic of achieving an average of 5% Gross Domestic Product (GDP) growth for 2017, given the improving economic environment, increase in exports and investments, as well as job creation.

Speaking at the Finance Forum 2017 on Belt and Road Initiative here today, Datuk Seri Dr Wee Ka Siong, Minister in the Prime Minister’s Department, said that as at May 2017, Malaysia’s exports have exceeded analysts’ forecasts of 23.4% growth rate, growing by 32.3% to RM79.4 billion.  

China has continued to be the largest trading partner with Malaysia for the eighth consecutive year since 2009, according to Wee.

“Our trade with China has increased by 32.3% to RM 25.21 billion, accounting for 16.4% of our total trade. We need to sustain these growth figures.”

He added that maintaining the figures might be a lot more difficult without the right infrastructure development which Malaysia is actively pursuing with the help of local and international smart partnerships.

Wee also claimed that digital connectivity has been a revolution in economic activities, contributing nearly 16% to the country’s GDP so far this year.

“What Malaysia needs moving into the next decades is stable, responsible and forward-thinking agents to help us accelerate the next group of SMEs that has the ideas and is willing to forge new trends,” he added.