Kuala lumpur: The government’s efforts to enhance the country’s economic diversity are successful, considering the performance of the competitive economic sectors projected for the third quarter (3Q) of this year, said Finance Minister II and acting Economy Minister Datuk Seri Amir Hamzah Azizan. Amir Hamzah stated that all economic sectors appeared robust in 3Q based on the initial economic growth projection of 5.2 per cent for the overall gross domestic product (GDP) released by the Department of Statistics Malaysia (DOSM).

According to BERNAMA News Agency, the initial projections indicated competitive economic growth amid a challenging global economic environment, with the construction sector projected to grow by 11 per cent, private consumption by more than five per cent, and mining by more than 10 per cent. Amir Hamzah highlighted that Malaysia’s economy is resilient, benefiting from diverse economic segments and a variety of markets.

He also noted the success of government efforts in attracting foreign investments, citing total approved investments of RM384 billion last year and nearly RM190 billion for the period from January to June this year. Foreign investors have expressed confidence in Malaysia’s economic model, with significant approved investments in the high-growth, high-value (HGHV) segment.

In his launching speech at the third season of the Innovathon Programme, Amir Hamzah mentioned a significant increase in participants, with numbers doubling to 2,032 in 2025 compared to 1,003 in 2024. The Ministry of Economy has raised the total prize value for the programme’s Business Development Support Fund from RM1 million to RM1.65 million.

A total of 56 local innovators will compete for the grand prize of RM100,000 in cash, along with a Business Development Support Fund of RM500,000. The innovations presented this season focus on technology-based innovations for daily use, particularly in the automotive, industrial, and health equipment fields.