KUALA LUMPUR, Dec 31 — Malaysians can look forward to a brighter economic future for 2018, Prime Minister Datuk Seri Najib Razak said in his New Year message today.

He touted his administration’s National Transformation initiatives, better known as TN5, to reach developed nation status by 2050 as providing a roadmap of optimism for the future as well as the upbeat and healthy reports by several international financial bodies this year that Malaysia’s economic growth will remain upwards of 5.8 per cent.

"The World Bank, the International Monetary Fund, and many other respected independent global bodies have commended the government’s prudent handling of the resilient economy for the good of the people.

"We expect healthy growth next year and further reduction of the deficit, as we continue to take all steps necessary to build the nation and promote the safety, welfare and happiness of people,” Najib who is also finance minister said in a statement.

He also touted foreign investor confidence in the country amid prevailing global economic gloom as a sign that Malaysia is set to grow even bigger next year.

As example, Najib cited e-commerce giant Alibaba founder Jack Ma who chose to launch his company’s first digital free trade zone outside China as proof of the Malaysian government’s efficient and business-friendly environment created under TN50.

He also pointed to the US$7 billion investment in Petronas Refinery and Petrochemical Integrated Development in Johor in February by Saudi Arabian Oil Company, better known as Saudi Aramco, and British banking giant HSBC’s RM1 billion commitment to build its new regional headquarters at the Tun Razak Exchange here.

"This sentiment has been echoed in the confidence the international community has shown in Malaysia over the past years.

"We hope all will support us in this great task as it was a task that our forefathers began, a task that my father continued, and a task that I feel personally responsible for,” Najib said.