Nearly two thirds of GDP by 2015 will be services. The new economic model for Malaysia places emphasis on raising the productivity level of workers to help them earn higher incomes as well as raising the country’s income status as a whole from middle to high.
When the new economic model is unveiled, necessary changes and realignment to policies and strategies outlined in the IMP3 will have to be made. These include changes to macro-frameworks and to inject the elements of innovation and creativity into the development strategies.
The target has been set; the contribution of the services sector is to increase to 60 per cent of the GDP by 2015.
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July 1, 2015 , by admin2
Nearly two thirds of GDP by 2015 will be services. The new economic model for Malaysia places emphasis on raising the productivity level of workers to help them earn higher incomes as well as raising the country’s income status as a whole from middle to high.
When the new economic model is unveiled, necessary changes and realignment to policies and strategies outlined in the IMP3 will have to be made. These include changes to macro-frameworks and to inject the elements of innovation and creativity into the development strategies.
The target has been set; the contribution of the services sector is to increase to 60 per cent of the GDP by 2015.
We want to hear your feedback…
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1 Comments July 1, 2015 , by admin2
YB Dato’ Jacob Dungau Sagan, Timbalan Menteri Perdagangan Antarabangsa dan Industri telah mempengerusikan satu sesi dialog bersama usahawan bumiputera Sarawak bertempat di Dewan Kenyalang, MPC Sarawak. Majlis ini bertujuan untuk mendapatkan pandangan dan maklumbalas mengenai idea-idea innovatif dan kreatif yang boleh menyumbang kepada aktiviti ekonomi masyarakat Bumiputera. Hasil daripada sesi dialog ini akan dibentangkan ke Majlis Penasihat Ekonomi Negara (MAPEN) yang kini sedang menggubal pelan pembangunan ekonomi dikenali sebagai ‘New Economic Model For Advanced Economy’.Dialog sebegini akan membolehkan Kerajaan, khususnya MITI, mendapatkan maklumbalas secara langsung, terus dan tepat tentang segala masalah dan isu-isu semasa yang dihadapi oleh masyarakat usahawan Bumiputera di Sarawak. Ini menunjukkan kesungguhan, keprihatinan dan komitmen kerajaan melalui MITI terhadap usaha-usaha membangunkan bumiputera dalam konteks pembangunan usahawan seterusnya mewujudkan...
Read MoreJuly 1, 2015 , by admin2
July 1, 2015 , by admin2
YB Minister, Dato’ Sri Mustapa Mohamed received a courtesy call from German Ambassador, H.E. Dr. Guenter Georg Gruber and Dr Ernst Roeder-Messell, Counsellor for Economic, Commercial and Environmental Affairs Germany at his office.
Read MoreJuly 1, 2015 , by admin2
YB Minister presents his Keynote Address at the National Domestic Investments Dialogue & Seminar organised by MIDA and SME Corp. at Berjaya Times Square, Kuala Lumpur. The Dialogue & Seminar was well received with participants coming from all over the country.
Read MoreJune 29, 2015 , by admin2
Total trade for 2009, the bulk of which went to North east Asia and ASEAN reached the RM988.2billion mark. Exports were valued at RM 553.3 billion.
Total investments approved for the year in the manufacturing sector came to RM32.6 billion. This exceeded the RM27.5 billion target set under the Third Industrial Master Plan.
Foreign investments garnered RM22.1billion while domestic investment raked in the rest. Total trade in services for the most part of 2009 amounted to RM141.8 billion, with exports accounting for RM72.7 billion and imports RM69.1 billion.
Total investments of RM208.3 billion were approved in the services sector from 2006 – 2009 with domestic investment this time comprising 88% and foreign investment 12%.
View the media release of YB Minister’s session with foreign Ambassadors, High Commissioners and Trade Counsellors.
Read MoreJune 29, 2015 , by admin2
The much anticipated New Economic Model, to be launched at the end of the month by the Prime Minister will focus on the services sector. The plan is to increase its contribution to the GDP to 60% by 2015. How will this be done ?
The first of many steps include:
- Liberalising the services sector
- Strengthening the capacity and capability of local service providers
- Raising the skills levels of Malaysian workers
- Creating a conducive business environment for investors
- Reviewing domestic regulations that hinder investments
- Assisting export ready Malaysian companies to break into foreign markets
Ultimately, all sectors will need to work in tandem. Together, we can work towards reducing our dependence on low skilled labour and building more technology-intensive businesses that create greater value-added products.
All this will put Malaysia on course to achieving high income nation status.
Read MoreJune 29, 2015 , by admin2
YB Dato’ Sri Mustapa Mohamed stressed the pivotal role of MITI in realising the Government’s aspiration to shift the nation towards high-income, knowledge-based economy at MITI’s monthly assembly today. Also present were YB Dato’ Jacob Dungau Sagan, Deputy Minister (Industry) and Y.Bhg. Tan Sri Abdul Rahman Mamat, Secretary General of MITI.
He said that MITI, being the Ministry in-charge of the development of the manufacturing and services sectors, is responsible for at least 80% of the country’s Gross Domestic Product (GDP). “The GDP comprises 30% output from manufacturing and 50% services; therefore 80% of the GDP depends on the efficiency of MITI and agencies’ personnel in carrying out their duties and formulating the right policies for industry and trade to grow” said the Minister.
YB Dato’ Sri Mustapa also stressed the importance of MITI officers acquiring the necessary knowledge and skills, including writing, communication and negotiation; in order...
Read MoreJune 29, 2015 , by admin2
The 2010 World Competitiveness Yearbook by the International Institute for Management Development, IMD , ranked Malaysia as one of the top 10 most competitive countries in the world !
Check these figures out…
For the first time Malaysia has been ranked in the top ten most competitive countries in the world. Malaysia’s strengthened position rests largely on significant improvements in Government and Business Efficiency ratings :
Government Efficiency : 10 ranks up to the 9 th , from the 19th
Business Efficiency : 9 places up to the 4 th , from the 13 th
Among middle-income countries, with GDP per capita under US$20k, Malaysia ranks second only to Taiwan . The top ten includes Singapore, Hong Kong, the United States, Switzerland, Australia, Sweden, Canada and Norway.
In terms of Economic Performance , Malaysia received particularly strong ratings around:
Low long-term unemployment (ranked 4 th ),
Strong exports as a percentage of GDP...
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