KUALA LUMPUR, May 9 (Bernama) -- Based on the latest economic indicators,
Malaysia''s economy is on a stable foundation and this is expected to continue in
the second-half of this year, the Dewan Negara was told today.
Deputy Finance Minister Datuk Dr Awang Adek Hussein said between January and
February this year, the country''s exports rose 7.1 per cent while imports grew
10.2 per cent compared with the same period last year.
"The industrial production index, meanwhile, expanded by 3.8 per cent. In
the same period, imports of capital goods recorded a high growth of 32.9 per
cent compared with the corresponding period last year.
"In addition, crude palm oil price as at April 25, 2012 was stable at
RM3,450 per metric tonne while rubber was at RM10.88 per kilogramme," he said in
reply to a question from Senator Tengku Aziz Tunku Ibrahim who asked on the
government''s level of readiness in facing the Eurozone crisis.
Awang Adek said on the same date the Kuala Lumpur Composite Index (KLCI) was
at a higher level at 1,579 points against 1,530 points at end-December last
He said investors'' confidence continued to rise supported by an increase in
foreign investments of 12.3 per cent to RM33 billion last year.
"Private investment activities is expected to be active spurred by
business opportunities from the implementation of the Economic Transformation
Programme and Government Transformation Programme as well as the government''s
key initiatives to attract investments," he said.
Meanwhile, Deputy Minister of International Trade and Industry Datuk Jacob
Dungau Sagan said trade between Malaysia and Myanmar rose to RM2.42 billion last
year from RM1.92 billion in 2010.
"Malaysia''s exports to Myanmar grew to RM1.71 billion last year compared
with RM1.18 billion the year before, while its imports from Myanmar amounted to
RM710 million in 2011 and RM730 million in 2010.
"Malaysia''s investments in Myanmar totalled US$977.6 million (RM2.99
billion) involving various investments such as construction, hotels, petroleum
and manufacturing," he said.
Jacob said this in reply to a question from Senator Datuk Chiw Tiang Chai
and Senator Datuk Mohammad Najeeb Abdullah who asked on the current status of
investments and trade between Malaysia and Myanmar.
He said the government welcomed the changes in Myanmar which had started to
practise a more open political and economic policies.
"The Ministry of International Trade and Industry is now actively taking
efforts to strengthen bilateral relations as well as explore investment
opportunities in Myanmar," he said.
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