KUALA LUMPUR: The nation’s total export target of RM1.25 trillion for 2025 as outlined in the 12th Malaysia Plan has been achieved four years earlier, says Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah.

       The King said that this reflects the confidence that foreign investors have in Malaysia, and added that Malaysia's outstanding trade performance in 2021 also saw the country reaching over the RM2 trillion mark for the first time with total exports valued at RM1.24 trillion

       “Consequently, the nation’s total export target of RM1.25 trillion for 2025 as outlined in the 12th Malaysia Plan has been achieved four years earlier.

       “We believe this success reflects foreign investors’ confidence in our economic fundamentals and investment ecosystem,” said Sultan Abdullah in his Royal address delivered during the First Meeting of the Fifth Session of the 14th Parliament on Monday (Feb 28).

       The Milken Institute Global Opportunity Index 2022 has also ranked Malaysia the most attractive investment destination for foreign investors among emerging Southeast Asian economies, said the King.

       Sultan Abdullah also said Malaysia’s economic growth by 3.1% in 2021 after contracting 5.6% in 2020 due to the Covid-19 pandemic showed the effectiveness of the Government's economic assistance and stimulus packages in 2020 and 2021, totalling RM530bil, in addition to the annual budget allocation.

       For 2022, the nation’s Gross Domestic Product is projected to continue to grow strongly between 5.5% to 6.5%.

       Among the indicators of economic recovery include declining unemployment rates and improving labour market conditions, with the Government successfully actualising 558,633 job placements for Malaysians compared to the 500,000 targeted for 2021.

       Under the Jamin Kerja Keluarga Malaysia initiative, the Government has targeted the creation of almost 600,000 job opportunities this year, said the King.

       “The performance in investments amounting to RM220.8bil that were approved for the manufacturing and services sectors under the supervision of the Malaysian Investment Development Authority in 2021 is also outstanding and encouraging where 80,000 new jobs will be created for local talents,” the King added.

       The Parliament sitting on Monday (Feb 28) is reserved for the Royal address.

       The Dewan Rakyat meeting will run for 16 days until March 24 while the Dewan Negara meeting, which will be opened simultaneously with the Dewan Rakyat on Monday (Feb 28), will last for nine days beginning March 21.