Prime Minister Anwar Ibrahim outlined Malaysia's ambition to strengthen its position as a leader in semiconductors and Islamic finance during an economic forum on Thursday. He emphasised the country's strategy to leverage its central location and become a key player in the diversification of energy and supply chains this year.
Addressing the forum, Anwar highlighted Malaysia's strong economic recovery in 2024, driven by a significant influx of strategic investments, particularly in renewable energy and artificial intelligence infrastructure. He noted that Malaysia is increasingly seen as a haven in Southeast Asia, with foreign investors returning, drawn by its stable currency and improving growth, which contrasts with the political and economic volatility faced by some regional peers.
Anwar expressed confidence in the country's prospects for 2025, saying, "We want to double down on our geographical centrality, as a conduit for electricity, talent, and supply chain diversification." He also assured that inflation and the ringgit remained stable, and the stock market had shown positive performance.
In addition, Malaysia attracted significant digital investments in 2024, including from major tech firm Alphabet's Google, boosting the economy and helping Malaysia exceed market growth expectations in the second and third quarters. This success contributed to the ringgit's performance as one of Asia's top currencies for the year.
Anwar had previously announced a target of at least 500 billion ringgit ($107 billion) in investments for Malaysia's semiconductor industry, aiming to position the country as a global hub in the sector.
