Malaysia private investment set to grow

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Tan Sri Nor Mohamed Yakcop, Minister in the Prime Minister’s Department, Malaysia

The Malaysian government expects private investment in the economy to reach 30 per cent of total investments in 2013, up from 22 per cent at present.

Tan Sri Nor Mohamed Yakcop, Minister in the Prime Minister’s Department and in charge of the Economic Planning Unit, said private investments only grew marginally by 2.5 per cent from 2005 to 2009, but registered double-digit growth of 15.5 per cent in 2010 and 12.2 per cent in 2011. The investment grew on an annualised basis of 22.2 per cent in the first half of 2012, he added.

Yakcop said that sustaining higher growth in investment and consumption would be the main factors in consolidating the transition from externally driven to domestically driven growth.

Stronger domestic demand has helped the Malaysian economy offset the shrinking global demand in the post global financial crisis years of 2010 and 2011.

However, Yakcop said that a strong future growth performance would “depend critically on the economy’s ability to sustain improvements in technological dynamism and successfully transit towards internal sources of demands.”

He added that the government requires to continue supporting growth through improvements and advances in technology, growth skills and entrepreneurship. For the economy to thrive, Malaysia needed to be globally competitive, create, attract and retain talent, restructure the supply chain, have a better education system as well as a more innovative economic environment.

The two major risks remaining were the continuing Eurozone debt crisis that could potentially result in double dip for the global economy and the sluggish US economy.

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Reading Time: 1 minute

Tan Sri Nor Mohamed Yakcop, Minister in the Prime Minister’s Department, Malaysia

The Malaysian government expects private investment in the economy to reach 30 per cent of total investments in 2013, up from 22 per cent at present.

Reading Time: 1 minute

Tan Sri Nor Mohamed Yakcop, Minister in the Prime Minister’s Department, Malaysia

The Malaysian government expects private investment in the economy to reach 30 per cent of total investments in 2013, up from 22 per cent at present.

Tan Sri Nor Mohamed Yakcop, Minister in the Prime Minister’s Department and in charge of the Economic Planning Unit, said private investments only grew marginally by 2.5 per cent from 2005 to 2009, but registered double-digit growth of 15.5 per cent in 2010 and 12.2 per cent in 2011. The investment grew on an annualised basis of 22.2 per cent in the first half of 2012, he added.

Yakcop said that sustaining higher growth in investment and consumption would be the main factors in consolidating the transition from externally driven to domestically driven growth.

Stronger domestic demand has helped the Malaysian economy offset the shrinking global demand in the post global financial crisis years of 2010 and 2011.

However, Yakcop said that a strong future growth performance would “depend critically on the economy’s ability to sustain improvements in technological dynamism and successfully transit towards internal sources of demands.”

He added that the government requires to continue supporting growth through improvements and advances in technology, growth skills and entrepreneurship. For the economy to thrive, Malaysia needed to be globally competitive, create, attract and retain talent, restructure the supply chain, have a better education system as well as a more innovative economic environment.

The two major risks remaining were the continuing Eurozone debt crisis that could potentially result in double dip for the global economy and the sluggish US economy.

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