Posted on : 20-04-2017 | By : sabah today | In : National Business
NILAI: Malaysia remains on a firm economic footing with gross domestic product (GDP) growth projected at 4% to 5% this year, Second Minister of International Trade and Industry Ong Ka Chuan said.
He said the nation’s sustainability growth would be supported by strong domestic consumption, comfortable levels of external reserves, low inflation and accommodative monetary policy.
“Despite the global economic headwinds that have created a challenging environment, we remain steadfast in creating one that is business friendly,” he said.
Ong said this in his address when launching the new products, namely tailored range of spherical roller bearings (SRB) and spherical roller thrust bearings and announcement of factory expansion by SKF Malaysia here today.
He added the government through the Ministry of International Trade and Industry and Malaysian Investment Development Authority would continue to facilitate and nurture a conducive business environment for investors to grow.
Also present at the ceremony were SKF Group President and Chief Executive Officer Alrik Danielson, SKF Malaysia Managing Director Anders Fogelberg and Swedish Ambassador to Malaysia Dag Juhlin-Danfelt.
Meanwhile, in press conference, Ong said Malaysia would be taking part in free trade as much as possible to enable the country to create a market not only for local investors but also international investors.