Najib to unveil policies to increase bumi participation in economy

PUTRAJAYA, Sept 10 (Bernama) -- Prime Minister Datuk Seri Najib Tun Razak s expected to announce on Saturday policies to increase bumiputras' participation in the country's economic sector.

Minister in the Prime Minister's Department Datuk Seri Abdul Wahid Omar said among the issues to be touched on by the prime minister are equity and property ownership by bumiputras and human capital development.

He said the government had collected information from government agencies and non-governmental organisations on the measures to take to strengthen bumiputras' involvement in the nation's economic sector.

"We've compiled the feedback and have forwarded them to the prime minister. The prime minister will announce the measures to be taken at a function on Saturday,."

"The policies will take into account issues that were deliberated in-depth at the Bumiputra Agenda Action Council meeting recently," he told a media conference today.

Economy still expanding despite global uncertainties: Najib

KUALA LUMPUR, Aug 22 (Bernama) -- Malaysia has still managed to achieve a gross domestic product (GDP) growth of 4.3 per cent despite an uncertain global economic environment, says Prime Minister Datuk Seri Najib Tun Razak today.

He said various efforts would be continued to be boosted to ensure that the country's economy is stable and balanced to become a high-income nation.

"I believe we can achieve this with the efforts from all parties," he said in his comment on the GDP growth on his Facebook today.

"Although the global economic condition is uncertain, we have managed to achieve a GDP growth of 4.3 per cent," said Najib who is also Finance Minister.

Yesterday, Bank Negara Malaysia (BNM) announced that the country recorded a GDP growth of 4.3 per cent for the second quarter of this year compared with 4.1 per cent in the first quarter.

BNM Governor Tan Sri Dr Zeti Akhtar Aziz said domestic demand was still strong and the overall performance was affected by weak external demand.

"Domestic demand continues to be strong, rising by 7.3 per cent while exports recorded a higher decline," she said in a press conference to announce the figures for the second quarter GDP.
 

(Source: http://www.mysinchew.com)

Malaysia's economy set to expand in 2013 and 2014: Najib

KUALA LUMPUR (Aug 1, 2013): The Malaysian economy is set to continue to expand in 2013 and 2014 albeit with a slight moderation in growth, said Prime Minister Datuk Seri Najib Tun Razak.

He said domestic demand will continue to anchor growth amid the continued moderation in external demand, with the growth to be mainly driven by the private sector and supported by the public sector.

"There are however risks to growth, especially from the external environment," he said in a press conference after attending Bank Negara Malaysia's (BNM) board briefing here today.

Najib said global growth is expected to continue to remain modest as growth in the major advanced economies will still be affected by the ongoing structural adjustments and policy uncertainty.

He said Malaysia could face increased volatility in the financial markets as these major economies are calibrating their policies.

"Given this challenging environment, BNM has put forward a number of proposals to strengthen our economic resilience and to accelerate our economic transformation agenda to become a high value-added and high-income economy," he said.

In addition, Najib said the government is committed to strengthening the country's macro and fiscal position.
"We have put in place a fiscal committee, we are looking at some challenges and all these will be addressed shortly, particularly in the forthcoming budget," he said. – Bernama

(Source: http://www.thesundaily.my)

Najib: Women can be a driving force

KUALA LUMPUR: Women can play a leading role in countries that want to build sustainable and successful economies, says Datuk Seri Najib Tun Razak.

He said an improved representation of women would not only provide better decision-making, but would also help open up talent reserves that too often had been left untapped.

“Advancing economic opportunities for women is the right thing to do,” the Prime Minister said at the opening of the Global Summit of Women 2013 here yesterday.

Najib said a country's success and stature should be gauged by the status it accorded its women. Malaysia's women, he said, had been given the right to vote since 1957 and had earned equal wages since 1969.

Ringgit set for best month in a year

Malaysia’s ringgit headed for its best month in more than a year and government bonds advanced on speculation monetary easing in Japan and the US has spurred inflows into the nation’s assets.

Bank of Japan Governor Haruhiko Kuroda announced on April 4 a plan to buy 7.5 trillion yen (US$77 billion) of debt a month, almost as much as the Federal Reserve’s US$85 billion of purchases. Malaysia’s overnight policy rate is at three per cent, compared with 0.1 per cent in Japan and 0.25 per cent in the US. The FTSE Bursa Malaysia KLCI Index of shares closed at an all-time high on April 26, while the yield on benchmark five-year government bonds touched an eight-month low of 3.16 per cent on April 15.

"The search for higher yields has benefited the ringgit," said Choong Yin Pheng, a senior manager for fixed income and economic research at Hong Leong Bank Bhd in Kuala Lumpur. "We still enjoy a positive interest-rate differential."

The ringgit strengthened 2.1 per cent this month, the most since January 2012, to 3.0292 per dollar as of 9.33am in Kuala Lumpur, according to data compiled by Bloomberg. It is the best performer among Asia’s 11 most-traded currencies in April. The ringgit rose 0.1 per cent today, the fifth day of gains.

Malaysia will hold general elections on May 5, with the ruling Barisan Nasional coalition attempting to extend its unbroken 55-year run in power since independence. The ringgit, which weakened 1.2 per cent against the dollar in the first quarter, has benefited since Prime Minister Datuk Seri Najib Razak dissolved parliament on April 3, removing uncertainty as to the timing of elections, Choong said.

One-month implied volatility, a measure of expected moves in exchange rates used to price options, climbed 151 basis points in April and 40 basis points today to 8.34 per cent.

The yield on the 3.26 per cent bonds due March 2018 dropped six basis points, or 0.06 percentage point, this month to 3.16 per cent, according to data compiled by Bloomberg. The rate was steady today.-- Bloomberg

(Source: http://www.btimes.com.my)

Pro-growth policies, incentives boosted Malaysia’s recovery, Najib tells forum

KUALA LUMPUR, Jan 25 — Prime Minister Datuk Seri Najib Razak has emphasised that pro-growth policies coupled with incentives to push private sector are crucial ingredients that Malaysia successfully employed to help the nation recover from the regional and global economic downturn.

And over the past few years with the global economy in turmoil from the subprime credit and Eurozone debt crisis, Najib said that it was the Economic Transformation Programme (ETP) that led to a remarkable jump in private investments and that was really the engine of growth,” Najib told a Al-Jazeera televised session entitled “The Economic Malaise and its Perils” at the ongoing World Economic Forum (WEF) in Davos, Switzerland.

“Things are looking up in Malaysia as the country has chalked up slow growth similar to other East Asian and Asian economies despite the global economic crisis and unlike Europe which has experienced decelerating growth,” he said as a panelist at the forum hosted by Al-Jazeera anchored by Kamahl Santamaria Friday.

Najib, who is also Finance Minister, said revitalising the private sector through the ETP unveiled in 2010 had created over 300,000 jobs and had brought down unemployment to 3.1 per cent which is regarded as full employment.

Najib: Government To Continue Putting In Place Policies Supporting Knowledge-based Economy

The government will continue to put in place, policies and investments that support a knowledge-based economy, said Datuk Seri Najib Tun Razak.

The prime minister said, he believed in building a knowledge-based economy as one way for Malaysia to achieve sustainable growth and remain globally competitive.

"We will continue to put in place, the policies and investments that support a knowledge-based economy: in science and technology, in research and development, and in information technology infrastructure.

"And, we will focus on the social impact of our policies, and be aware of our responsibility to ensure that the knowledge-based economy does not widen disparities between various sections of our society," he said at the Merdeka Award presentation ceremony in Dewan Filharmonik Petronas here Monday night.

Present were the Regent of Perak Raja Dr Nazrin Shah, who is also chairman of the Merdeka Award Board of Trustees, and his consort, Raja Puan Besar Perak Tuanku Zara Salim.

Najib's wife, Datin Seri Rosmah Mansor, Petronas chairman Tan Sri Mohd Sidek Hassan, and its president and oil company chief executive officer Tan Sri Shamsul Azhar Abbas, also attended the event.

Najib, who is also Merdeka Award patron, said as the nation sought to become fully developed by 2020, Malaysia must chart its own course to consolidate the gains it had made in healthcare, finance and energy, and continue economic reforms to unlock investment, and secure a greater share of the sectors and technologies of the future.

He said Malaysia's development depended on its ability to build an open, highly-skilled economy, and thus it must invest in one of its greatest assets, its people, as the country moved towards an economy with greater focus on technology and services.

"Just as Malaysia must be ready to compete within our region, so our workers, students and entrepreneurs must be able to hold their own on the world stage," he added.

Later, Najib presented the Merdeka Award to this year's recipients, academician Tan Sri Emeritus Professor Datuk Dr Augustine Ong Soon Hock, Tan Sri Professor Dr Syed Muhammad Naquib Al-Attas and Dr Engkik Soepadmo.

Dr Ong, under the Health, Science and Technology category, is recognised for his outstanding contribution to the research and development of the chemistry and technology of palm oil, and for his significant role in advocating and promoting the Malaysian Palm Oil industry to the world.

Dr Syed Muhammad, under the Outstanding Scholastic Achievement category, was awarded for outstanding contribution in the area of Islamisation of Contemporary Knowledge and Muslim Education.

Dr Engkik, from the category of Outstanding Contribution to the People of Malaysia, received the award for outstanding contribution to the research and conservation of Malaysia's forest plant diversity.

Each of the recipients received a RM500,000 cash award, Merdeka Award trophy and the Merdeka Award Work of Art.

For this year, there is no award recipient in the Education and Community, and Environment categories.

This is the fifth year that the Merdeka Award has announced a group of recipients, following the establishment of the Merdeka Award in 2007.

Its first group of recipients was in 2008.

-- BERNAMA

(Source: Bernama.com)