Malaysia's 66th Independence Day: Thousands throng Putrajaya
Malaysia is celebrating its 66th Independence Day on August 31 in Putrajaya with fanfare and festivities. This day marks its independence from colonial rule. It will be followed by Malaysia Day on September 16, to mark the day when the peninsular state of Malaya merged with Sabah, Sarawak and Singapore to form Malaysia in 1963. It will be celebrated in Kuching in the state of Sarawak.
Theme for Malaysia's 66th Independence Day
The theme for this year’s celebration is ‘Malaysia Madani: Determination in Unity, Fulfilling Hope’. The theme has been selected to strengthen the spirit of unity and to achieve the shared aspirations for a stronger Malaysia.
Malaysia’s 66th Independence Day marks progress
Malaysia has been growing at a high speed in recent years and it has emerged as one of the most preferred nations in South East Asia. It has become the second most competitive economy of ASEAN, the third most innovative economy and the fourth most competitive emerging market. It has become a very attractive investment destination because of its infrastructure, IP policies, productivity, pro-business policies of the government, educated workforce and vibrant banking industry.
The Malaysian Economy
The Malaysian economy is doing well in other parameters as well. Its inflation came down from 2.8 percent to 2.4 percent in June 2023, unemployment fell to 34 percent in June 2023 and the domestic demand has gone up in the second half of the financial year 2023-24. The economy remains resilient and the government is confident of achieving a 4 percent to 5 percent GDP growth rate despite challenges at the international level.
New Industrial Policy 2030
The government is planning to restructure its economy and the New Industrial Policy
