Fall in fixed investments may hold back Malaysia, say economists

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The Statistics Department says Malaysia’s gross fixed capital formation dropped by 11.6% in the third quarter of the year.PETALING JAYA: Economists have expressed concern over the sharp decline in Malaysia’s gross fixed capital formation, or fixed investments, which they say is a key indicator of the economy’s long-term health.Geoffrey Williams of HELP University said the reduction in fixed investments affects the economy’s potential growth and could deter the nation’s capacity to transition to a more advanced economy with the fourth industrial revolution.He told FMT that the decline also damages Malaysia’s competitiveness since other countries in Asia are not experiencing the same phenomenon.“Gross fixed capital formation refers to physical investment in machinery, vehicles and equipment used by companies to run their businesses. Fixed investment is an engine of growth and th…