The government will soon announce measures to encourage private sector investment to shore up the country's economy, Prime Minister Abdullah Ahmad Badawi said in his New Year message.

"God willing, I should be able to announce the measures to be taken to strengthen the private sector, which I know has the financial capacity," Abdullah said on the weekend, quoted by the state Bernama news agency.

"What is necessary is for us to create the opportunities for investment by the private sector in our country so that with that capacity, we will see more intensive economic growth and more employment opportunities," he said.

The prime minister also pledged to follow through on a series of measures and projects announced in the 2006 budget to spur on the economy.

Among them was a RM5.7-billion-ringgit rural infrastructure program, as well as RM14.4 billion allocated for the agriculture, industry and infrastructure sectors.

Joint initiatives

"We must implement (the projects) with seriousness so that the desire to bring benefits, progress and success to the country is achieved," he said.

Joint initiatives between the government and the private sector also had to be successful and well implemented, Abdullah said.

Malaysia is expected to see economic growth for 2005 weighing at the lower end of the 5.0-6.0 percent scale forecast during the year.

The government and analysts have forecast that gross domestic product will grow by 5.5 percent in 2006.