NEW ECONOMIC MODEL TO BE TABLED NEXT MONTH

IPOH (Malaysia), Jan 11 (Bernama) -- The National Economic Advisory Council
(MPEN) is scrutinising the outline of the New Economic Model (NEM) which is set
to become a platform to restore and drive the national economy in the future,
said Finance Minister II Ahmad Husni Hanadzlah.

He said the model, to be tabled at a Cabinet meeting next month for
approval, would be the government's base in forming the Tenth Malaysia Plan
(10MP).

"The 10MP will be tabled mid-year," he told reporters after a meet-and-greet
session at the Taman Meru Community Hall in Ipoh, the capital city of northern
Perak state in Peninsular Malaysia on Sunday.

He said, with the implementation of the NEM, the country's current
labour-based manufacturing sector would move towards using high-technology.

"Then, we will focus on the service sector and other niche markets to enable
these fields to push our country's economy," said Ahmad Husni.


Last May, Prime Minister Najib Tun Razak said that the
government would work on a new economic model for the country, which among
others, would outline how Malaysia could move its economic status from a
medium-high income economy to a high-income economy.

Meanwhile, Ahmad Husni said the country needed a seven per cent economic
growth each year to achieve developed nation or high-income economy status by
2020.

"Our economy is expected to grow this year, three per cent according to our
studies but our target is five per cent. Next year, we will aim for seven per
cent," he said.

-- BERNAMA