ID :
63373
Sat, 05/30/2009 - 22:19
Auther :
Shortlink :
https://oananews.org//node/63373
The shortlink copeid
10TH MALAYSIA PLAN WILL BE BASED ON NEW ECONOMIC MODEL
BUTTERWORTH (Malaysia), May 30 (Bernama) -- The 10th Malaysia Plan (10MP)
will be based on a new economic model to ensure that all efforts towards
economic recovery in the country run smoothly.
Minister in the Prime Minister's Department, Nor Mohamed Yakcop said
that although 10MP will take effect only in 2011, the government has started
early planning on the five-year economic programme to ensure a sustainable
development.
The Member Parliament for Tasek Gelugor said that among the areas of focus
under the new model will be to create many more industries to generate higher
income for the people and help them face future economic challenges as well.
Speaking to reporters following a meeting with the people from his
parliamentary constituency, he said that besides aiming for high income,
attention would be also paid to utilising lower production costs.
"The government has already started drafting the 10MP and has the Cabinet's
approval so that it can be implemented earlier, and when the world economy makes
a recovery, we would be at the right platform for recovery," he said.
Nor Mohamed said that among the sectors identified to drive the new economy
were knowledge, skills and creativity based industries including tourism.
However, the traditional industries such as manufacturing will be continued
with new impetus through knowledge based industries so that they are able to
generate higher income.
"We see this current economic downturn as a "blessing" to push the country
towards a new economic direction capable of more progress and that all the
stimulus packages given by the government so far have started to show results,"
he said.
Although there has been a contraction in economic growth, the plan to
liberalise the 27 economic sectors including the financial sector has started to
take effect, he said, adding that he was confident that the country's economy
will start to recover in the second part of the year.
"The negative growth projection will not jeopordise the plans of 9MP as each
programme has already been given the special allocation," he said.
Nevertheless, Nor Mohamed said in order to make a success of a modern
economy, the people, especially those retrenched should take up the opportunity
of training provided by the government.
Increasing the level of skills and knowledge of the new economy will be
crucial for workers so that they can compete and generate higher income as well,
he said.
"Although we know the response towards the retraining schemes and programmes
for workers has not been as good, the people must realise that new skills are
required to face the challenges of the new economy.
"A crisis is not always a bad thing as it also gives us the opportunity and
space to reassess the existing strategies to continue to progress in line with
current changes," he said. -- BERNAMA
will be based on a new economic model to ensure that all efforts towards
economic recovery in the country run smoothly.
Minister in the Prime Minister's Department, Nor Mohamed Yakcop said
that although 10MP will take effect only in 2011, the government has started
early planning on the five-year economic programme to ensure a sustainable
development.
The Member Parliament for Tasek Gelugor said that among the areas of focus
under the new model will be to create many more industries to generate higher
income for the people and help them face future economic challenges as well.
Speaking to reporters following a meeting with the people from his
parliamentary constituency, he said that besides aiming for high income,
attention would be also paid to utilising lower production costs.
"The government has already started drafting the 10MP and has the Cabinet's
approval so that it can be implemented earlier, and when the world economy makes
a recovery, we would be at the right platform for recovery," he said.
Nor Mohamed said that among the sectors identified to drive the new economy
were knowledge, skills and creativity based industries including tourism.
However, the traditional industries such as manufacturing will be continued
with new impetus through knowledge based industries so that they are able to
generate higher income.
"We see this current economic downturn as a "blessing" to push the country
towards a new economic direction capable of more progress and that all the
stimulus packages given by the government so far have started to show results,"
he said.
Although there has been a contraction in economic growth, the plan to
liberalise the 27 economic sectors including the financial sector has started to
take effect, he said, adding that he was confident that the country's economy
will start to recover in the second part of the year.
"The negative growth projection will not jeopordise the plans of 9MP as each
programme has already been given the special allocation," he said.
Nevertheless, Nor Mohamed said in order to make a success of a modern
economy, the people, especially those retrenched should take up the opportunity
of training provided by the government.
Increasing the level of skills and knowledge of the new economy will be
crucial for workers so that they can compete and generate higher income as well,
he said.
"Although we know the response towards the retraining schemes and programmes
for workers has not been as good, the people must realise that new skills are
required to face the challenges of the new economy.
"A crisis is not always a bad thing as it also gives us the opportunity and
space to reassess the existing strategies to continue to progress in line with
current changes," he said. -- BERNAMA
