Malaysia is closely watching for potential changes that may impact global and local economies following Donald Trump’s win in the US presidential election.
Economy Minister Rafizi Ramli said that while the government is awaiting new policy announcements from Washington, it remains prepared to assess and adapt to any developments that could influence Malaysia’s economic landscape.
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Economy Minister Rafizi Ramli said that while the government is awaiting new policy announcements from Washington, it remains prepared to assess and adapt to any developments that could influence Malaysia’s economic landscape.
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
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NewsTranscript
00:00The change of administration in the United States, right, will it at all derail, you know, your Ministry's plan with regards to the BNPROBAC or with regards to the NSS or the NTIA? Is it going to have an impact?
00:15No, I think any country in the world, given the influence that the USA has on the global economy, would have carried out some sort of due diligence of whatever impacts a change of administration in the US would have on our local economy and administration.
00:43That is the part and parcel of planning. And I think while we will wait for the next few announcements, we will observe how the Trump administration impacts the global economy and ours.
01:08But a lot of our plans when it comes to semiconductors, energy transition, a lot of it is driven by our own needs domestically. And a lot of it are structural in nature. That means that it's something that we have to go through in order to prepare our industry and economy to be more robust.
01:32So in that sense, I think all the key reforms that have to be done still have to be done. But we still have to be nimble and agile in order for us to react and respond to any kind of geopolitics and international developments that may arise from a change of administration, not just in the US,
01:59but any of our large trading partners. And the US is a very large trading partner for us.