KUALA LUMPUR – The government’s drive to diversify Malaysia’s economy has shown positive results, with strong performance expected from various competitive sectors in the third quarter (3Q) of this year, according to Finance Minister II and acting Economy Minister Datuk Seri Amir Hamzah Azizan.
Amir Hamzah highlighted that all economic sectors appeared resilient in 3Q, citing the Department of Statistics Malaysia’s (DOSM) initial projection of a 5.2% growth for the overall gross domestic product (GDP).
The minister pointed out that the projections reflected robust economic growth despite global challenges, with notable sectors such as construction, mining, and private consumption demonstrating strong performances. The construction sector, for instance, is expected to grow by 11 per cent, mining by more than 10 per cent, and private consumption by over 5%.
“Our economy remains resilient, bolstered by our diverse economic segments,” he said.
“Our markets are well diversified, and we are not reliant on a single market.”
He further noted the success of government efforts in attracting foreign investment, revealing that approved investments reached RM384 billion last year and nearly RM190 billion in the first half of 2025.
“Foreign investors are confident in our economic model, and we are seeing investments flowing into high-growth, high-value (HGHV) sectors,” he added.
Amir Hamzah also shared that the Innovathon programme has experienced significant growth, with participant numbers for its third season rising by 100 per cent to 2,032 in 2025, up from 1,003 in 2024. In response to this growth, the Ministry of Economy has increased the Business Development Support Fund’s total prize value from RM1 million to RM1.65 million.
“56 local innovators will compete for the grand prize of RM100,000 in cash, along with RM500,000 in Business Development Support Fund,” he revealed.
“This season’s innovations focus on technology-based solutions for daily applications, including in automotive, industrial, and health equipment sectors.” – November 10, 2025