Najib affirms Malaysia’s 2020 development goal

Reading Time: 2 minutes

NajibIn a speech delivered in Kuala Lumpur on June 11, Malaysian Prime Minister Najib Abdul Tun Razak affirmed that the country is on track to achieving high-income status, as outlined in the government’s Economic Transformation Programme.

The developmental plan aims to take Malaysia’s per capita GDP from about $6,000 in 2012 to over $15,000 by 2020.

Pointing to the 5.6 per cent GDP growth Malaysia posted in 2012, Najib said at the 17th Asia Oil & Gas Conference that if the economy continued to liberalise, investors would continue come, especially to Johor and Sarawak, the two largest recipients of FDI.

Moreover, Najib mentioned that “we must do more to increase the participation of women in the workplace, to rationalise subsidies, and recognise excellence and high performance in our society.”

Malaysia’s economy expanded just 4.1 per cent in the first quarter of 2013, the slowest pace since the third quarter of 2009 and far off from original predictions of 5.5 per cent.

This slump can be partially be attributed to the narrow election win by the incumbent Barisan Nasional party, headed by Najib, on the May 13 general election.

However, Najib’s triumph over the opposition sent positive signals through the local bourse and foreign investors. Since the election, the Bursa Malaysia has made robust gains.

The win also means a reiteration of pro-Bumiputera policies, which impose affirmative action laws in favour of Malays and cause indignation in other ethnic groups, namely Chinese and Indian Malaysians, resulting in political protests.

Emboldened by BN’s win, a local Malay rights group recently called for university enrollment quotas of Bumiputera to rise from 30 to 60 per cent; analysts said that this kind of pressurised racial policy would continue to present jarring problems to the public and outside world, showing the true fissures that crack the country’s fault lines.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid

Reading Time: 2 minutes

In a speech delivered in Kuala Lumpur on June 11, Malaysian Prime Minister Najib Abdul Tun Razak affirmed that the country is on track to achieving high-income status, as outlined in the government’s Economic Transformation Programme.

Reading Time: 2 minutes

NajibIn a speech delivered in Kuala Lumpur on June 11, Malaysian Prime Minister Najib Abdul Tun Razak affirmed that the country is on track to achieving high-income status, as outlined in the government’s Economic Transformation Programme.

The developmental plan aims to take Malaysia’s per capita GDP from about $6,000 in 2012 to over $15,000 by 2020.

Pointing to the 5.6 per cent GDP growth Malaysia posted in 2012, Najib said at the 17th Asia Oil & Gas Conference that if the economy continued to liberalise, investors would continue come, especially to Johor and Sarawak, the two largest recipients of FDI.

Moreover, Najib mentioned that “we must do more to increase the participation of women in the workplace, to rationalise subsidies, and recognise excellence and high performance in our society.”

Malaysia’s economy expanded just 4.1 per cent in the first quarter of 2013, the slowest pace since the third quarter of 2009 and far off from original predictions of 5.5 per cent.

This slump can be partially be attributed to the narrow election win by the incumbent Barisan Nasional party, headed by Najib, on the May 13 general election.

However, Najib’s triumph over the opposition sent positive signals through the local bourse and foreign investors. Since the election, the Bursa Malaysia has made robust gains.

The win also means a reiteration of pro-Bumiputera policies, which impose affirmative action laws in favour of Malays and cause indignation in other ethnic groups, namely Chinese and Indian Malaysians, resulting in political protests.

Emboldened by BN’s win, a local Malay rights group recently called for university enrollment quotas of Bumiputera to rise from 30 to 60 per cent; analysts said that this kind of pressurised racial policy would continue to present jarring problems to the public and outside world, showing the true fissures that crack the country’s fault lines.

Do you like this post?
  • Fascinated
  • Happy
  • Sad
  • Angry
  • Bored
  • Afraid