Thursday, June 15, 2006

Malaysia's Third Master Plan starting from July

Written by: S.M.Mehdi Hassan

Malaysia is going to launch its Third Industrial Master Plan from July 2006. Starting from 2006 and ending in 2010, the plan will realize strategies that will turn Malaysia into a fully developed country by 2020. A launching ceremony of the plan was held on Wednesday, in Kualalampur. Malaysia’s International Trade and Industry Minister Datuk Seri Rafidah Aziz reviewed the plan. She said that her government would focus on investments in “New Areas of Growth” such as biotechnology and service sectors. She also mentioned plans regarding the development of the business operation environment under the Third Master Plan and Ninth Malaysia Master Plan. Under the Ninth Malaysia Plan the government is going to provide incentives to foreign investors to invest in the country’s manufacture and service industry.
Analysts are expecting a per year growth of 6.7% and 6.5% in the manufacturing and service sector of Malaysia. Government will spend 200 billion Ringgit Malaysia for development and 45 billion Ringgit Malaysia for human resource development.

Related Article:
Malaysia to launch Third Industrial Master Plan in July


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