KUALA LUMPUR: Malaysian economy has become very resilient at this moment despite all the external factors affecting the country, said Minister of Finance II Datuk Seri Johari Abdul Ghani.
He said economic activities has transformed into a well-diversified economies over the years and it needs to make sure that sustainability of the growth must be in place.
"I think we still can show a good growth compared to some of countries in this region. To ensure economic sustainability, we need to address about the inclusiveness, governance and sustainability of our economy development," he said at a press conference after launching the International Directors Summit (IDS) 2017 in Kuala Lumpur, today.
Johari said Malaysia would be able to progress further and any development taking place in this country has to be inclusive across the nation.
"In order to do that, investment in public infrastructure is very important. Otherwise, we will not be able to get all those people in the rural and sub-urban areas to benefit out of the economy development and growth," he said.
Johari pointed out the country's gross domestic product (GDP) growth in the first-half of the year were driven by private consumption, private investment on the demand side, while the supply side was driven by services, construction and manufacturing.
"At this moment, we have yet to do any GDP revision but based on the 5.6 - 5.8 figures, I expect the GDP that we originally forecast 4.3 - 4.8, we will be able to perform better than that," he said.
Johari said today's global economy is very dynamic and it faces a prolong volatility of commodity prices.
"Even though we are affected, we also lost a revenue from oil, approximately RM36 billion. And yet, we still can maintain or sustain the growth of our economy due to our diversified economy over the period of time," he added.
Johari said if there is nothing happens in the world, the Malaysian economy would continue its momentum in the second-half this year.
Meanwhile, IDS 2017, which kicked off today, hosted about 40 distinguished panelists, speakers and moderators from various backgrounds and organisations.
Since its inaugural inception in 2012, IDS has become an important avenue for an open and constructive exchange of effective corporate directors' policies and practices.
Now in its third edition, IDS 2017 features topical issues and challenges encountered by directors in their day-to-day business management such as board stewardship, internet of things (IoT) and cyber security as well as the 21st century corporate governance challenges.
Jointly organised by Malaysian Directors Academy (MINDA) and Razak School of Government (RSOG), the IDS 2017 would cater towards the needs of directors around the region who are actively seeking new and innovative wats to enhance their organisation's resilience through effective governance and thoughtful leadership.