Malaysian central bank keeps growth forecast at 6 - 7.5 percent for 2021
Despite the recent re-imposition of nationwide pandemic containment measures by the federal government, the central bank of Malaysia (BNM) maintained its growth projection for the local economy at between 6 percent and 7.5 percent in 2021.
A bird's-eye view of Kuala Lumpur July 8, 2020. (Photo: malaymail.com)
Kuala Lumpur (VNA) - Despite the recent re-impositionof nationwide pandemic containment measures by the federal government, thecentral bank of Malaysia (BNM) maintained its growth projection for the localeconomy at between 6 percent and 7.5 percent in 2021.
In a briefing published on May 11, the BNM said Malaysia’sGross Domestic Product (GDP) recorded a smaller contraction at -0.5 percent inthe first quarter of 2021 compared to the -3.4 percent posted in the fourthquarter of 2020, despite the imposition of the second nationwide movementcontrol order (MCO).
Also in the first quarter, all economic sectors registeredan improvement, particularly the manufacturing sector with a growth of 6.6percent compared to 3 percent recorded in the last quarter of 2020.
The growth of sectors such as services, mining andconstruction, though still declined compared to the same period last year, butthe degree of reduction improved compared to the fourth quarter of 2020.Specifically, the service and mining sectors narrowed their decreases from -4.8and -10.4 percent in Q4 last year to -2.3 and -5 percent in Q1 of 2021, respectively./.
Malaysia’s economy should see a less severe slump in the first quarter of 2021 than it did in the previous three months, on the back of resilient manufacturing activity and growing external demand, Reuters reported.
Malaysia on May 9 recorded its highest single-day death toll from COVID-19 after the coronavirus claimed 26 more lives, raising the total number of fatalities to 1,683, according to the Ministry of Health.
Eight Filipinos who are members of the Abu Sayyaf group have been arrested in a special operation in Beaufort, said Malaysia’s Sabah Police Commissioner Datuk Hazani Ghazali.
Addressing the ceremony, Indonesian Ambassador Simon D.I. Soekamo, the rotating Chair of the ASEAN Committee in Cuba, highlighted the bloc's spirit of friendship and solidarity, and reaffirmed ASEAN's core values of peace, stability, and prosperity through cooperation and dialogue.
Vietnam’s pavilion notably displayed traditional crafts from the centuries-old lacquerware village of Ha Thai and Chu Dau ceramics. The atmosphere was further enriched by delegations wearing their countries’ traditional costumes, including the elegant ao dai and the graceful ao tu than of Vietnamese women.
The handover ceremony was held at the Malaysian Embassy headquarters in Mexico City on August 8, with the presence of heads of diplomatic missions from ASEAN member states in Mexico.
Total trade between Indonesia and New Zealand in the first half of 2025 reached 963.23 million USD, an increase of 21.56% compared to 792.39 million USD in the same period last year. Of this amount, Indonesia's exports to New Zealand totaled 374.89 million USD, while imports 588.35 million USD
Malaysia, as ASEAN 2025 Chair, marked the bloc’s 58th founding anniversary on August 8 with a vibrant celebration in Cyberjaya, blending an official ceremony with a colorful cultural festival.
Vietnam plays an important role in Southeast Asia’s economic growth and is a key partner of her country in realising the shared vision of a peaceful, stable, and prosperous region, said Robyn Mudie, First Assistant Secretary of Office of Southeast Asia (OSA) – Southeast Asia Regional and Mainland Division at Australia’s Department of Foreign Affairs and Trade (DFAT).
The 2025 ASEAN Business Community Development (ABCD) Forum, themed “Empowering ASEAN's Next Leap: Digital, Sustainable & Entrepreneurial Transformation” brought together ministers, CEOs, and top industry experts to discuss key regional economic priorities.
The DES Ministry will seek cooperation from social media platforms to prevent the spread of fake news and monitor accounts related to such activities, he told reporters after chairing a meeting of the newly established Anti-Fake News Centre (AFNC).
The Joint Standing Committee on Commerce, Industry and Banking identified the US tariff reduction as a significant driver behind the improved economic outlook for Thailand.
Financial institutions and financial technology (fintech) players are intensifying their focus on expanding across the Association of Southeast Asian Nations (ASEAN), adopting tailored strategies to strengthen their presence in the region’s digital financial services landscape.
Featuring a permanent exhibition area, the ASEAN Hall will function both as a cultural showcase and as a dynamic venue for ASEAN-related events and programmes. Its inauguration on ASEAN Day added symbolic weight, marking a fresh milestone in ASEAN–RoK relations.
Thailand’s Ministry of Commerce and rice exporters are devising strategic plans to boost rice exports amid global market fluctuations, focusing on key markets and adjusting output.
The focus of the upcoming ASEAN Summit in October will be on strengthening economic relations through intra-regional trade and investment, as well as regional initiatives on energy networks and connectivity.
Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
The Indonesian Government is determined to seize opportunities to enhance the competitiveness of national agricultural products, an official has said, adding that it always strives to promote exports at the highest possible level, based on a mutually beneficial foundation.
Finance Minister Pichai Chunhavajira has outlined a six-point strategy to promote innovation, support small and medium-sized enterprises (SMEs), and push for Thailand's removal from the US Trade Representative (USTR)’s special 301 Watch List regarding intellectual property rights protection among trading partners.
Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
A bird's-eye view of Kuala Lumpur July 8, 2020. (Photo: malaymail.com) 
