MALAYSIA AIMS TO UP INVESTMENT RATE TO 12.8 PCT TO ATTAIN SIX PCT ECONOMIC GROWTH

KUALA LUMPUR, Oct 11 (Bernama) -- The Malaysian government aims to increase
national investment rate to 12.8 per cent to achieve the targeted six per cent
economic growth rate a year from next year until 2020, the House of
Representatives was told Monday.

International Trade and Industry Minister Mustapa Mohamed said efforts to
realise the target have started with the identification of 131 entry
point projects (EPPs) under the Economic Transformation Programme (ETP).

The projects will create 60 business opportunities for the private sector.

Under the ETP, he said, the government was working with 500 private sector
representatives for two months to draw up a new plan to ensure the nation's
economy continued to expand.

"It is indeed our intention that the 131 EPPs and business opportunities
will generate higher income to boost investment rate to 12.8 per cent a year.
The EPPs largely involved investments.

"The Government intends to boost national investment rate to 12.8 per cent
so that the projected six per cent economic growth rate a year can be achieved
every year until 2020," he said when replying to a supplementary question from
Ismail Kasim (rpt Kasim) who asked how the ETP would help improve the
country's economic performance.

Mustapa said he was confident that the nation's economic growth in the
second half of this year would be encouraging following about 9.5 per cent
growth registered in the first six months of this year.

"With the latest figures, I'm confident our economic performance will be
something to be proud of. Our projection is six per cent but wait for the
announcement by Prime Minister (Najib Tun Razak) when he tables the
2011 Budget in Parliament on Friday," he added.

-- BERNAMA