He said this was proven when Malaysia’s total trade saw a double-digit growth in September 2022, when it expanded by 31.4%, reaching RM257 billion.
Exports increased by 30% to RM144.3 billion year-on-year and Malaysia’s trade balance continued to record a surplus, increasing 20% to RM31.7 billion.
“This clearly shows that the government has been able to maintain macroeconomic stability and it has provided local investors the economic confidence,” he told Bernama.
He noted that last year technology giant Intel Corporation announced a huge investment of US$7.5 billion (RM30 billion) in Asean, inclusive of Malaysia.
“This sends a positive signal not only to the Asean region but also global investors that Malaysia is on the move,” said Shan.
Bank Negara Malaysia announced the economy grew by 14.2% in the third quarter this year supported by continued expansion in domestic demand, firm recovery in the labour market, robust electrical and electronics (E&E) as well as non-E&E exports and ongoing policy support.
Given the healthy growth in the first nine months of 2022, the full year growth is expected to exceed the 7% projected earlier.
With the challenging global headwinds, Shan said the country needs a “quality leader who is action-oriented, well-experienced and understands the economy.
He notes Malaysia is still able to consistently maintain its economic policy, which has led to strong private consumption and improved labour market.
As an international property technology investor and believer in the free market, Shan said his company noted the government had provided the policy framework and let the private sector run the economy.
“In the future, we wish to see this consistency continuing. However, this will only happen when the country is led by experienced people who understand the economy at a macro level.
“To have macroeconomic stability, it also means we need to have political stability, economic stability and financial stability,” he said.
“On this note, caretaker prime minister Datuk Seri Ismail Sabri Yaakob is a good choice and we hope he can continue to deliver and make a positive impact on the people,” he added.
The country goes to the polls on Nov 19 with all 222 seats in parliament being contested.