Thursday, March 4, 2010

20100304 0938 Malaysian Economic News.

Malaysia will offer incentives to woo new and existing foreign investors under its coming 10th Malaysia Plan (10MP), a five-year economic plan. Foreign direct investment in the manufacturing sector halved to RM22.1bn in 2009 as a global recession halted expansion plans at multinational companies worldwide. We are in the midst of attracting investors to our country," Deputy International Trade and Industry Minister Datuk Mukhriz Mahathir said. He said that Malaysia wanted more companies with "innovative, creative, highincome and high-yielding operations" to invest here. (NST)

The prospect of Malaysian businesses increasing the salaries of employees this year, is positive. According to the International Business Report (IBR) by Grant Thornton, 63% of Malaysian companies planned to increase salaries, compared to the 44% recorded last year. The percentage of companies not prepared for any pay rise also saw a positive outlook, with 30% against the 36% in 2009. (Bernama)

The Home Ministry is expected to channel support in the form of grants, equipment and assistance for the Volunteer Patrol Scheme (VPS), to effectively combat crime in residential areas. Deputy Home Minister Jelaing Mersat said the initiative shows the seriousness and support of the government to set up VPS as an effort to combat crime in housing estates. (Bernama)

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