Speaking to business leaders at the Invest Malaysia event today, Lim said there have been positive developments with a jump in foreign investments.

“Macro economic figures over the last year have been positive and we are confident of returning to our economic tiger status in three years’ time,” Lim said during a dialogue session on the topic of sustainable growth.

Lim said inflation is at its lowest level in 10 years at 0.7%.

He added that foreign direct investment increased by 48% in the past year but domestic investment declined by 17% in the same period.

“Improved trade relations with China saw investments from China increase from RM5 billion a year ago to RM20 billion.”

Lim said foreign investors are also returning after previously staying away due to the 1MDB scandal.

“Japanese investors who had doubts investing in the country in the past due to the 1MDB scandal are showing renewed interest in the country due to the stewardship of Prime Minister Dr Mahathir Mohamad,” he added.

Meanwhile, Lim said tax refunds totalling RM37 billion would be paid to taxpayers over a period of 10 months.