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With the support of strong export and domestic spending, our Gross Domestic Product (GDP) had increased above expectations at 6.4 percent for the second quarter. Credit must go to Prime Minister Najib Abdul Razak for his tireless effort in the Economic Transformation Programme (ETP) for the past three years.

Bank Negara governor Zeti Akhtar Aziz revealed that, taking into account the 6.2 percent growth in the first quarter, we have thus achieved an economic  growth of 6.3 percent for the first half of 2014, as compared to 4.4 percent in 2013.

Consequent to this, Bank Negara Malaysia forecasts growth for this year might just surpass the earlier targeted 4.5 percent and 5.5 percent.  This clearly demonstrates a remarkable performance under PM Najib’s Government Transformation Programme (GTP), in attracting foreign direct investment, increase export and domestic spending.

According to Bank Negara Malaysia statistics, all main economic sectors remains resilient. With the support of investment in the manufacturing and services, private investment maintained a double-digit growth at 12.1 percent. Our national debt had also improved from 55 percent of GDP to 53 percent as a result of our prudent management to keep both internal and external debts low.

Meanwhile, the surge in domestic consumption is due mainly to the government’s RM2.1 billion BR1M spending which had stimulated purchasing power and hence the economy. The prime minister’s GTP is therefore congruent to our models and in line with the global economic trend.

The ETP launched three years ago, encompasses two key strategies, namely 12 National Key Results Areas (NKRA) for continuous improvement and six Strategic Reform Initiatives (SRIs) for a business-friendly environment, with a sole purpose of turning Malaysia into a fully developed nation by 2020, with 3.3 million jobs, US$444 billion of investment and US$15,000 per capita income.

The ETP had brought about remarkable success where the per capita income had improved from US$7,050 in 2009 to US$10,060 in 2013. Our endeavour in the INVESTKL had also attracted 15 multi-national companies from across North America, Europe and Asia to set up their offices here.


JASON TEOH SEW HOCK is MCA Public Services and Complaints Bureau chairperson, MCA Central Committee member and Gelang Patah MCA Division chairperson.

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