Malaysia’s Economy Ranks #1 In Asia

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KUALA LUMPUR - Datuk Seri Najib Tun Razak said Malaysia was ranked first in emerging economies in Asia based on the latest World Economic Forum report.

The Prime Minister believes the success is the result of various programmess that has been developed and implemented by its government to benefit the people as a whole.

"We have put in place an extensive range of programmes to provide hundreds of thousands of affordable houses; assistance to those on low income; very cheap medical care through our 1Malaysia clinics; exemptions to GST for essential food items; training courses and initiatives; and incentives for businesses, especially the SMEs that are the backbone of our economy.

“Besides, the Excise of Goods and Services Tax on basic food items, training courses and business incentives are mainly for small and medium enterprises that are the backbone of the economy," he said.

Prime Minister Najib was officiating at the opening of the 9th World City Forum (WUF9) at the Kuala Lumpur Convention Center yesterday, NST reports.

In delivering his opening remarks, the prime minister said that Malaysia seeks "a just, inclusive and sustainable society in which no Malaysian is left behind.

"On that note, may I mention that in the World Economic Forum’s latest report, Malaysia was ranked first out of all Asian emerging economies for inclusiveness, and that is a record which all Malaysians can be proud of," he announced.

Also present were Minister of Urban Wellbeing, Housing and Local Government, Tan Sri Noh Omar and Executive Director at UN-Habitat, Datuk Maimunah Mohd. Sharif.

The nation's ablity to host the forum reflects Malaysia's commitment to the world in terms of sustainable and prosperous urban development, he further mentioned.

"Through this forum, participants will benefit from the development of our city towards meeting the goals of the 'New Urban Agenda' in 2036," he explained.

WUF9 is the first forum held after the Sustainable Urban Development Forum (HABITAT III) in Quito, Ecuador in 2016 as a global legal conference to review and determine cities urban agenda towards a better future.

Kuala Lumpur is the second city to host the international forum and is the second city in Asia after Nanjing, China which hosted the event in 2008.