KUALA LUMPUR: Malaysia has not yet held discussions on reviving the Kuala Lumpur-Singapore High-Speed Rail (HSR) project, said Finance Minister II Datuk Seri Amir Hamzah Azizan.
In an exclusive interview with Singapore's The Straits Times (ST), he emphasised that the government's current priority is to complete existing transportation infrastructure to bolster economic development and ensure sustainable growth.
"HSR is something that we will always consider, and a study has been conducted.However, at the moment, the Cabinet has not discussed it to that level."We are waiting for the Cabinet's decision," Amir Hamzah told ST in an interview ahead of the 11th Malaysia-Singapore Leaders' Retreat scheduled for the end of 2024.
He noted that Malaysia is currently prioritising the completion and further development of its existing transportation projects, including the Gemas-Johor Bahru Electrified Double-Track Rail Project (Gemas-JB EDTP) and the East Coast Rail Link (ECRL).
"The priority must be on what we have today... The focus should be on realising the value from Gemas-JB EDTP and ECRL. This is where the government's attention should be," he said.
Additionally, Amir Hamzah also told ST that the Transport Ministry's main focus in Budget 2025 is to enhance the efficiency of public transportation.
"The more reliable the first-mile and last-mile services are, the more likely the public will use them," he added.
He said government-linked investment companies (GLICs) are taking the lead in investing in Malaysia, with plans to allocate RM150 billion over the next five years.
"Foreign Direct Investment (FDI) has been very strong."We had RM330 billion last year, and we attracted RM160 billion in the first six months in 2024, or 18 per cent higher than the same period a year ago," he added.
He said that these initiatives are expected to yield better outcomes than mega projects.
"These (economic and fiscal reforms) will boost private consumption, which drives the economy forward. "Do we need mega projects to power up the economy? If the reforms work well, it will generate much more sustainable growth over time," Amir Hamzah said.