ID :
121526
Wed, 05/12/2010 - 07:46
Auther :
Shortlink :
https://oananews.org//node/121526
The shortlink copeid
MALAYSIA'S GROWTH TO GATHER SPEED THIS YEAR, SAYS MUSTAPA
PETALING JAYA, May 11 (Bernama) -- Malaysia is not expected to face any contraction in economic growth this year, Minister of International Trade and Industry Mustapa Mohamed said Tuesday.
Rather, the country's current momentum of growth might continue to gather
speed, he told reporters after launching the Annual Productivity Report 2009
here.
Among the factors for this would be stabilising exports, a better Industrial
Production Index in the first few months this year, and an improved Asian
economy to further drive the local economy.
"Export is certainly one area where we have confidence in, given the
first-quarter numbers," he said, adding that the January-March 2010 figures were
more than 30 per cent compared to the same period last year.
Mustapa said many players in the manufacturing industry were also hiring
more due to an increase in orders.
"We hope consumption, private consumption in particular, will be sustained.
And although the international economic environment is uncertain, we see Asian
economies continuing to grow as well as Asean, thus driving the Malaysian
economy," he said.
Although Mustapa expects Malaysia to be able to achieve the targeted growth
of four to five per cent this year, he also cautioned about last month's figures
which saw exports being hit by the recent volcanic ash crisis in Europe.
"April was a fairly difficult month due to the ash and some enterprises were
affected. In a couple of weeks' time we will be getting some preliminary numbers
for April. Early June will get the final numbers," he said.
On another note, the minister said the country's productivity was being
looked at the different levels, namely the enterprise/firm level, sectoral
level, and national level.
He said at the enterprise level, Malaysia Productivity Corporation (MPC) had
targeted to inculcate the best practices in productivity movement to 1,000
firms.
"MPC will also benchmark these firms, using a software to correlate
productivity with wages," he added.
According to Mustapa, enhanced efforts are needed to increase productivity
in the services sector as it plays a big part in the Malaysian economy.
"If we can increase the productivity in the services sector, we can increase
productivity for the whole nation," he said.
The minister also commented on the lack of skilled workers in Malaysia which
resulted in businesses being taken elsewhere.
"We need to address this urgently and increase the supply of talented
Malaysians in areas rapidly expanding," he said.
Although higher education institutions needed to play a part in this, he
said the industry players could also help by intensifying their internship
programmes.
-- BERNAMA
Rather, the country's current momentum of growth might continue to gather
speed, he told reporters after launching the Annual Productivity Report 2009
here.
Among the factors for this would be stabilising exports, a better Industrial
Production Index in the first few months this year, and an improved Asian
economy to further drive the local economy.
"Export is certainly one area where we have confidence in, given the
first-quarter numbers," he said, adding that the January-March 2010 figures were
more than 30 per cent compared to the same period last year.
Mustapa said many players in the manufacturing industry were also hiring
more due to an increase in orders.
"We hope consumption, private consumption in particular, will be sustained.
And although the international economic environment is uncertain, we see Asian
economies continuing to grow as well as Asean, thus driving the Malaysian
economy," he said.
Although Mustapa expects Malaysia to be able to achieve the targeted growth
of four to five per cent this year, he also cautioned about last month's figures
which saw exports being hit by the recent volcanic ash crisis in Europe.
"April was a fairly difficult month due to the ash and some enterprises were
affected. In a couple of weeks' time we will be getting some preliminary numbers
for April. Early June will get the final numbers," he said.
On another note, the minister said the country's productivity was being
looked at the different levels, namely the enterprise/firm level, sectoral
level, and national level.
He said at the enterprise level, Malaysia Productivity Corporation (MPC) had
targeted to inculcate the best practices in productivity movement to 1,000
firms.
"MPC will also benchmark these firms, using a software to correlate
productivity with wages," he added.
According to Mustapa, enhanced efforts are needed to increase productivity
in the services sector as it plays a big part in the Malaysian economy.
"If we can increase the productivity in the services sector, we can increase
productivity for the whole nation," he said.
The minister also commented on the lack of skilled workers in Malaysia which
resulted in businesses being taken elsewhere.
"We need to address this urgently and increase the supply of talented
Malaysians in areas rapidly expanding," he said.
Although higher education institutions needed to play a part in this, he
said the industry players could also help by intensifying their internship
programmes.
-- BERNAMA
