Bank Negara Malaysia (BNM) expects the economy to grow between 4.5% and 5.5% this year with higher consumer spending, increase in business investment and improvement in exports to Asia. Furthermore, there is "potential upside" for the economy to surpass the projection as gross domestic product (GDP) in the first quarter of 2010 itself is estimated to surpass that of fourth quarter last year, according to BNM Governor Tan Seri Zeti Akhtar Aziz.
Economy: PM sees higher FDI after coming admin reform Malaysia should see increased foreign direct investment (FDI) this year after the government implements administrative reforms, the country's Prime Minister Najib Razak said. The country's new economic model, to be announced later this month, would include unspecified administrative reforms that should result in a "marked improvement" in FDI, Najib told an investment forum in Hong Kong. He also reiterated an earlier statement that Malaysia's GDP growth should hit 5% or more this year. The country's economy shrank by 1.7% last year. Najib is scheduled to unveil initial details of a new economic model to boost growth and win back foreign investment at the annual "Invest Malaysia" conference organised by Bursa Malaysia on Mar 30. (Financial Daily)