ID :
99028
Sat, 01/09/2010 - 15:53
Auther :
Shortlink :
https://oananews.org//node/99028
The shortlink copeid
STRONG COMMODITY PRICES TO HELP BOOST MALAYSIAN ECONOMIC GROWTH
By Mohd Iswandi Kasan Anuar
KUALA LUMPUR, Jan 9 (Bernama) -- Strong commodity prices are likely to push
Malaysia's gross domestic product (GDP) into positive growth territory in the
first quarter of this year, said Oxford Business Group (OBG) editorial manager,
Steven Dijkhuizen.
Dijkhuizen said the prices of crude palm oil (CPO) and rubber would continue
to increase further.
"The improvement in the global economy will generate demand for CPO,
particularly from the emerging economies in Asia such as China and India.
"This is one of the major factors that really pulled down the economy last
year as the prices declined very drastically," Dijkhuizen told Bernama in an
interview.
He said the Malaysian government's stimulus economic package remained as the
main element in fueling the growth needed to support the economic activities in
the country as more contracts would probably be awarded next year.
"Overall, current business sentiment showed better improvement, but private
investment, which has been a key source of growth, will probably not grow by as
much as expected," he said.
In November, Central Bank of Malaysia Governor, Dr Zeti Akhtar Aziz,
said a five per cent GDP growth for 2010 was possible driven by the encouraging
global economic performance and domestic demand.
Dijkhuizen said the labour market has shown clear signs of stability as
job vacancies had increased.
"Malaysia's near-term outlook shows a steady process of recovery, with real
GDP projected to grow by four per cent next year," he said
Meanwhile, Dijkhuizen said OBG's fifth edition of business book entitled,
"The Report: Malaysia 2010", was slated to be released in June this year to
coincide with the launch of the 10th Malaysia Plan.
He said the book would cover Malaysia's transition towards knowledge-based
economy, structural changes to the economy, liberalisation as well as a new
model with creativity and innovation.
"The book will include interviews with leading personalities, local and
overseas, from Prime Minister Najib Tun Razak, ministers, private
sector leaders and economists.
"It will also include Paul Krugman, 2008 Nobel Prize winner, a
representative from Chicago Mercantile Exchange and Hong Kong's financial
secretary," it said.
In 2008, OBG sold 18,000 books on Malaysia to investors in the US, Europe,
Middle East, and about 20,000 copies locally.
"The book on Malaysia is one of the best-sellers among our collection of 37
books," he said.
The book is published in partnership with Malaysian Industrial Development
Authority.
OBG is a global publishing and research firm.
-- BERNAMA
KUALA LUMPUR, Jan 9 (Bernama) -- Strong commodity prices are likely to push
Malaysia's gross domestic product (GDP) into positive growth territory in the
first quarter of this year, said Oxford Business Group (OBG) editorial manager,
Steven Dijkhuizen.
Dijkhuizen said the prices of crude palm oil (CPO) and rubber would continue
to increase further.
"The improvement in the global economy will generate demand for CPO,
particularly from the emerging economies in Asia such as China and India.
"This is one of the major factors that really pulled down the economy last
year as the prices declined very drastically," Dijkhuizen told Bernama in an
interview.
He said the Malaysian government's stimulus economic package remained as the
main element in fueling the growth needed to support the economic activities in
the country as more contracts would probably be awarded next year.
"Overall, current business sentiment showed better improvement, but private
investment, which has been a key source of growth, will probably not grow by as
much as expected," he said.
In November, Central Bank of Malaysia Governor, Dr Zeti Akhtar Aziz,
said a five per cent GDP growth for 2010 was possible driven by the encouraging
global economic performance and domestic demand.
Dijkhuizen said the labour market has shown clear signs of stability as
job vacancies had increased.
"Malaysia's near-term outlook shows a steady process of recovery, with real
GDP projected to grow by four per cent next year," he said
Meanwhile, Dijkhuizen said OBG's fifth edition of business book entitled,
"The Report: Malaysia 2010", was slated to be released in June this year to
coincide with the launch of the 10th Malaysia Plan.
He said the book would cover Malaysia's transition towards knowledge-based
economy, structural changes to the economy, liberalisation as well as a new
model with creativity and innovation.
"The book will include interviews with leading personalities, local and
overseas, from Prime Minister Najib Tun Razak, ministers, private
sector leaders and economists.
"It will also include Paul Krugman, 2008 Nobel Prize winner, a
representative from Chicago Mercantile Exchange and Hong Kong's financial
secretary," it said.
In 2008, OBG sold 18,000 books on Malaysia to investors in the US, Europe,
Middle East, and about 20,000 copies locally.
"The book on Malaysia is one of the best-sellers among our collection of 37
books," he said.
The book is published in partnership with Malaysian Industrial Development
Authority.
OBG is a global publishing and research firm.
-- BERNAMA
