BERLIN (Germany): Malaysia’s economy remains on a firm footing with the country’s economy projected to grow by 4.0-4.5 per cent in 2016, Prime Minister Najib Razak assured German business leaders.

The economy expanded by four per cent in the second quarter of this year following a 4.2 per cent growth in the first quarter of the year.

He said since 2009, the Gross National Income had increased by nearly 50 per cent and 1.8 million jobs had been created.

“Because our fundamentals are strong, Malaysia continues to attract considerable foreign direct investments.

“In fact, this year is looking particularly good for us,” he told a dialogue session here today.

Among the companies that participated in the dialogue were Atotech, AWS Schafer, BMW, Daimler, Osram, Volkswagen, Infineon, Bombardier Transportation, Ensinger, B Braun, Green Sugar and Biesterfeld International.

Najib, who is also finance minister, is on a three-day official visit to Germany at the invitation of Chancellor Angela Merkel.

Najib said last year, Malaysia approved a total of USD8.4 billion in foreign direct investments (FDI).

“I am pleased to be able to say that in the first half of this year, approved FDI reached 83.3 per cent of total foreign investments approved for the whole of last year.

“We expect the figures to increase even more towards the end of 2016.”

Najib also sent a strong message to the German lawmakers that there is no “slash and burn” in Malaysia’s palm oil industry.

Malaysia, he said, subscribed to sustainable development and they could come and see it for themselves.

“We are committed to sustainable development and there is no such thing as ‘slash and burn’.

“The proof of the pudding is in the eating and I have invited a group of Members of Parliament to visit Malaysia to see how we are managing the plantation industry.”