Malaysia must increase productivity growth

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If Malaysia wishes to attain developed nation status by 2020, as is the government’s goal, its productive growth must grow by at least 5% a year. The Malaysia Productivity Corporation (MPC) suggests, though, that growth will only reach about 4.7% this year, as opposed to last year’s 5.8%. Most of the growth came in the manufacturing, utilities, transport and communication industries.

Overall, key government players remain optimistic that Malaysia can reach prime economic viability. “I believe we can attain the set targets,” said MPC’s director general.  He suggested that the warming of the international economic climate will help meet the goal, along with the policies set forth by the Malaysian government to increase production across all industries. Malaysia lags behind several developing Asian countries in terms of productive growth (Singapore, China, India, Thailand and Hong Kong rate higher) but leads South Korea, Japan, Sweden, Germany, the USA, and Finland.

 

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Reading Time: 1 minute

If Malaysia wishes to attain developed nation status by 2020, as is the government’s goal, its productive growth must grow by at least 5% a year. The Malaysia Productivity Corporation (MPC) suggests, though, that growth will only reach about 4.7% this year, as opposed to last year’s 5.8%. Most of the growth came in the manufacturing, utilities, transport and communication industries.

Reading Time: 1 minute

If Malaysia wishes to attain developed nation status by 2020, as is the government’s goal, its productive growth must grow by at least 5% a year. The Malaysia Productivity Corporation (MPC) suggests, though, that growth will only reach about 4.7% this year, as opposed to last year’s 5.8%. Most of the growth came in the manufacturing, utilities, transport and communication industries.

Overall, key government players remain optimistic that Malaysia can reach prime economic viability. “I believe we can attain the set targets,” said MPC’s director general.  He suggested that the warming of the international economic climate will help meet the goal, along with the policies set forth by the Malaysian government to increase production across all industries. Malaysia lags behind several developing Asian countries in terms of productive growth (Singapore, China, India, Thailand and Hong Kong rate higher) but leads South Korea, Japan, Sweden, Germany, the USA, and Finland.

 

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