RMK11 | Putrajaya will embark on good governance and institutional reforms to restore investor confidence under the review of the 11th Malaysia Plan (RMK11), said Economic Affairs Minister Mohamed Azmin Ali.

Met by reporters at the Parliament lobby today, Azmin said these were "major" steps that need to be taken immediately to restore the confidence of the business community.

He cited institutions such as the MACC, the Attorney-General's Chambers, as well as the Auditor-General's Office as agencies which were undergoing reforms.

"I thank the PM (Dr Mahathir Mohamad) for presenting an important document today to put on our economy on the right track. We are currently undergoing a tremendous challenge and need a new approach and strategy to weather this challenge.

"Among the key points of overcoming this challenge is to ensure good governance which in turn will assure foreign investors to return to Malaysia and spur the economic growth," he said.

Azmin denied that the RMK11 plan was too "ambitious".

"We discussed, consulted all ministers and we deliberated this proposal in the cabinet and got the PM's consent and also from the other relevant authorities.

"I believe that with a clear mandate from the cabinet, all the ministers will complete their respective tasks within the stipulated time."

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