PUTRAJAYA: Major development projects by the Government and private
sectors, and government-linked companies will be the key projects that
will stimulate the economy, Datuk Seri Najib Razak said.
The
Prime Minister said these projects would have key multiplier effects and
would leave a high impact on the economy.
“These will be the key
projects to provide stimulus and enhance development to the domestic
economy.
“In the face of a possible economic slowdown in the
second half (of the year) we must make sure that domestic demand
re-mains high and robust,” he said, stressing that he was not sure
whether there would be a slowdown.
In his opening remarks at the
2011 Budget consultation session yesterday, Najib said to sustain growth
momentum, the Govern-ment would ensure that all measures outlined in
the 10th Malaysia Plan are implemented and closely monitored.
In
addition, he said, 12 areas of growth had been identified, including the
revitalisation of Greater Kuala Lumpur as National Key Economic Areas
(NKEAs) to enable the Government make a quantum leap in growth, income
and quality of life.
“This will be achieved in an environment of
prudent fiscal management and macro-economic stability.
“The
Government will ensure that vulnerable and marginalised groups will
continue to benefit from this development.
“This great nation of
ours offers ample opportunity for all, irrespective of race, religion
and economic background. This is the time for all Malaysians abroad to
return home and contribute significantly, and be a part of the Malaysian
dream,” he said.
As for the private sector, Najib urged
companies to grab the opportunities made available to them, adding that
the Govern-ment has set up numerous funds, including Working Capital
Guarantee Scheme, the Industry Restructuring Financing Guaran-tee Scheme
and PFI Facilitation Fund.
He noted that although Small and
Medium Enterprises (SMEs) were an integral part of the economy,
accounting for 99.2% of all businesses in the country, their
contribution to the Gross Domestic Product (GDP) however remains small
at 31.4%.
He said assistance would be given through enhancing
access to financing and strengthening support systems.
