“Prudent banking policies have lent credibility and confidence to investors This coupled with the proactive launching of the second stimulus package of RM 60 billion have helped us weather the beatings of the harsh economic climate , Dato’ Sri Mustapa Mohamed feels.Approved investment projects in manufacturing recently have been more capital intensive in nature, reflecting the move toward high-technology, high value-added, skills and knowledge-based industries.
Who is investing ?
Japan , at the moment, is our largest foreign investor with an investment of RM7 billion. Hong Kong comes second with approved investments of RM5.3 billion followed by The United States, Korea, China, Taiwan, Netherlands and Germany.
What does 2010 hold?
Based on the premise that the global economy is mending and that the investment environment improves in tandem, Malaysia anticipates a growth of between 4 – 5 per cent.
With this as the backdrop, the thrust is to catapult Malaysia from a middle income economy to a high income one and the catalyst to achieve this is the New Economic Model to be unveiled in the first quarter of 2010.
“This model will outline strategies that will push the economy toward a knowledge - driven high technology industrial base,” says Dato’ Sri Mustapa Mohamed.
New growth areas include the green technology sector, which already has investments amounting to RM752 million in renewable energy and energy conservation, for 2009. He strongly believes that being proactive is the name of the game and it is this that will give us the edge in being competitive.