ID :
128290
Wed, 06/16/2010 - 20:41
Auther :
Shortlink :
https://oananews.org//node/128290
The shortlink copeid
MALAYSIAN COMPANIES URGED TO PLAY THEIR PART AND INVEST LOCALLY
PUTRAJAYA, June 16 (Bernama) -- Domestic investments will play a major role
in achieving the country's 12.8 per cent growth target for private investments
as envisaged in the 10th Malaysia Plan (10MP).
Minister in the Prime Minister's Department, Nor Mohamed Yakcop said
Malaysian corporates could afford to invest big locally, just as they have been
investing very successfully in neighbouring countries like Vietnam and Cambodia.
By investing here in Malaysia, the domestic corporates in fact will be
sending the right signal to foreigners to follow suit, he told reporters after
the Public Private Partnership Unit (3PU)'s excellence service awards ceremony
here today.
Nor Mohamed said the target of RM115 billion (US$34.84 billion)in
investments in the private sector per year was almost double from what had been
projected through the 9MP, where the last figure stated was RM65 billion
(US$19.69 billion) per year.
While he admitted it will not be an easy task especially in a challenging
domestic and global economic environment, he was positive that the target could
be achieved as the government was creating a holistic approach in creating the
right environment to attract investors.
He said apart from offering a safe environment and proper judicial
efficiency, the country's skilled workers was one of its major factors in
attracting investors.
Thus, the establishment of Talent Corporation to attract and retain
skilled workers including Malaysians working overseas, and the plan to make
Kuala Lumpur a world class city (Greater KL) are on time, he said.
"People say Kuala Lumpur is already developed, why don't we develop some
other area. Yes, Kuala Lumpur is already developed but it is not developed
enough.
"Nowadays, the competition is not between countries, it's between cities. If
a guy decides where to work, he is not thinking of Malaysia versus United
States, he is thinking New York versus Kuala Lumpur or New York versus Penang,"
he said.
There is a reason to scale and build up the city even more to attract more
skilled workers and investors, he added.
-- BERNAMA
in achieving the country's 12.8 per cent growth target for private investments
as envisaged in the 10th Malaysia Plan (10MP).
Minister in the Prime Minister's Department, Nor Mohamed Yakcop said
Malaysian corporates could afford to invest big locally, just as they have been
investing very successfully in neighbouring countries like Vietnam and Cambodia.
By investing here in Malaysia, the domestic corporates in fact will be
sending the right signal to foreigners to follow suit, he told reporters after
the Public Private Partnership Unit (3PU)'s excellence service awards ceremony
here today.
Nor Mohamed said the target of RM115 billion (US$34.84 billion)in
investments in the private sector per year was almost double from what had been
projected through the 9MP, where the last figure stated was RM65 billion
(US$19.69 billion) per year.
While he admitted it will not be an easy task especially in a challenging
domestic and global economic environment, he was positive that the target could
be achieved as the government was creating a holistic approach in creating the
right environment to attract investors.
He said apart from offering a safe environment and proper judicial
efficiency, the country's skilled workers was one of its major factors in
attracting investors.
Thus, the establishment of Talent Corporation to attract and retain
skilled workers including Malaysians working overseas, and the plan to make
Kuala Lumpur a world class city (Greater KL) are on time, he said.
"People say Kuala Lumpur is already developed, why don't we develop some
other area. Yes, Kuala Lumpur is already developed but it is not developed
enough.
"Nowadays, the competition is not between countries, it's between cities. If
a guy decides where to work, he is not thinking of Malaysia versus United
States, he is thinking New York versus Kuala Lumpur or New York versus Penang,"
he said.
There is a reason to scale and build up the city even more to attract more
skilled workers and investors, he added.
-- BERNAMA
