Tan Sri Azman Hashim
President
MASSA 

In 2024, the global economy grew moderately at 3.2%, supported by easing inflation and cautious monetary policies. However, challenges like geopolitical tensions, trade uncertainties, and climate change continued to weigh on global trade and investment. Looking ahead, global growth is projected by the IMF to be at 3.3% in 2025, with emerging & developing markets expected to drive expansion (4.2%) whilst advanced economies face slower progress (1.9%). The World Bank anticipates global growth at 2.7%. Stabilizing inflation and monetary adjustments offer some optimism, but downside risks from policy uncertainties and trade barriers & disruptions persist.

Malaysia’s economy expanded in 2024, achieving a commendable GDP growth of 5.1%. This was driven by robust private consumption, catalytic initiatives under national master plans, realisation of projects & investments, and growth in exports, particularly in the electrical and electronics sector. Inflation in 2024 declined to 1.8%, and the labor market showed resilience with steady employment growth.

For 2025, Malaysia’s economy is forecasted to grow between 4.5% and 5.5%, supported by domestic demand, diversified exports, expansion in investments, and government initiatives that aim to boost high-value industries, attract investments, and promote sustainable growth which include the MADANI Economic Framework, the National Energy Transition Roadmap (NETR), the National Semiconductor Strategy and the New Industrial Master Plan 2030 (NIMP 2030). Malaysia’s diversified economy and strategic initiatives has positioned itself as a regional standout, complemented by the regional tech upcycle and tourism rebound, despite external risks which include trade restrictions and geopolitical tensions.

Cognisant of the burgeoning domestic startup ecosystem, to introduce & highlight new, innovative and transformative homegrown solutions & ideas, MASSA is pleased to rollout its series, the iDeas Xchange 2025, a startup meetup and sharing session series, which had its inaugural session in December last year, and its 2^nd session in March 2025. This platform was formulated for MASSA members to meet, network and connect with various innovators, entrepreneurs & founders for collaborative prospects in these startups’ expansionary phase, and to ultimately connect scale up and grow in the markets of the South-South developing countries.

These economies have the potential to leapfrog development through engaging innovation & tech-forward solutions and this is an opportunity for Malaysia to be part of this growth phase. As Chairman of MASSA’s sister company, the Malaysian South-South Corporation Berhad (MASSCORP), I am pleased to inform that MASSCORP Berhad has set aside an initial fund of RM 10 million for catalytic venture investment into suitable growth-stage Malaysian to expand, en route to South-South developing countries MASSCORP has three decades of investment experience. Coupled with its networks and linkages, MASSCORP can facilitate and catalyse the investment growth and expansion of these potential local startups into developing & emerging markets of the South-South.

MASSA will also be organising a mission to Timor-Leste this year. I urge Malaysian businesses to take this opportunity to explore and engage with the nascent 11^th member of ASEAN, of which Malaysia is Chairman this year.

I am grateful for the ongoing support and collaboration of all our members, particularly my colleagues on the Executive Committee, for your attendance, active participation, and meaningful contributions at our regular meetings & programmes.

I would also like to extend my thanks to all our supporters who have shared their expertise through insightful articles, as well as to our generous sponsors who have made the 2024 Newsletters possible.

I wish everyone a happy, healthy and successful 2025 and ‘Selamat Hari Raya’.

Tan Sri Azman Hashim
President
4 April 2025