RMK11 | Putrajaya says focus will be given to reviewing and streamlining the role of state-owned enterprises and monopoly entities in the remaining 11th Malaysia Plan to enhance market efficiency and fair competition.

In the mid-term review of the RMK11 released by the Economic Affairs Ministry today, it said the move is part of its strategy to improve market efficiency.

The report was presented by Prime Minister Dr Mahathir Mohamad in Parliament.

"Market inefficiency and unhealthy competition are threats to economic growth and sustainable development; in this regard, market distortion and unfair practices will be addressed to promote market efficiency and healthy competition in the economy," it said.

The ministry said measures would be undertaken to streamline the role of state-owned entities and other monopolies to promote market efficiency and protect consumer interest.

"A special ministerial committee will review policies and concessions with regard to monopolistic arrangements of these entities to ensure greater market efficiency.

"Meanwhile, a national policy and governance framework will be formulated to align SOEs and other monopoly entities with the broader national development agenda," it said.

The ministry said these entities would be encouraged to promote innovation and technology adoption in line with the Fourth Industrial Revolution to boost productivity, as well as create greater market opportunities for domestic industries through export-driven and global growth strategies.

- Bernama

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