Malaysia's economic transformation momentum is projected to speed up this year, driven by robust fundamentals and investor confidence, supported by effective policies, according to Finance Minister II Datuk Seri Amir Hamzah Azizan.

He noted that the Madani Economy framework, which introduces new strategies for Malaysia's economic expansion and identifies emerging growth industries, has produced positive outcomes, as evidenced by the ongoing economic growth.

“The encouraging 4.2% growth in the first quarter of 2024 indicates that the government’s policies and economic management are effective.

“We are optimistic that Malaysia’s gross domestic product is well placed to expand within the official forecast range of between 4% and 5% in 2024,” he said during his keynote address at the Malaysian Institute of Accountants (MIA) International Accountants Conference 2024.

The two-day conference, entitled “Navigating New Frontiers, Embracing Sustainability,” supports MIA’s efforts to ensure the profession's future relevance in fostering sustainable nation-building.

Amir Hamzah highlighted that global investors are increasingly drawn to the reform narrative, as evidenced by the positive sentiment in the domestic capital markets.

This is demonstrated by the FBM KLCI reaching new highs and substantial foreign direct investments from global companies like Microsoft, Google, ByteDance, Infineon Technologies, anTesla, and lay Mail reports.

At the event, MIA unveiled the MIA Sustainability Blueprint for the Accountancy Profession.

MIA President, Datuk Seri Dr. Mohamad Zabidi Ahmad stated that the blueprint showcases MIA's dedication to sustainable practices. Its objective is to offer guidance to assist accountants in integrating sustainability into their roles and within their organisations.

“MIA also continues to advocate for digital transformation to ensure the profession is future-fit and relevant in the digital economy,” he added.

Nearly 3,800 delegates participated in the MIA conference this year, both in person and virtually.