20100402 1047 Malaysian Economic News.

PM Datuk Seri Najib Razak said that the second and third round of announcements on the New Economic Model (NEM) would give more details on the key economic areas and activities the government has planned to make Malaysia a high economy by 2020. The timeline for its targets would also be announced in stages this year. He added that a lot of work and planning was needed to ensure NEM’s success and the government needed to carry this out in phases and could not announce all the details in one go. (NST)

The bidding and awarding of Government tenders will now be more transparent via Finance Ministry’s tender portal – MyProcurement w.e.f 1 Apr 10. The government would require bidders to sign a pledge to be graft-free when bidding and after securing contracts. (The Star)

There is a great potential to further develop the halal markets and industries in European countries, says Malaysian Ambassador to the European Union, Datuk Hussein Haniff. "The halal industry in Europe is currently valued at about US$66bn and is expected to expand by 20-25% in the next decade," he said. (Bernama)

A total of 319 projects worth RM27.78bn were proposed by the Works Ministry to the Economic Planning Unit (EPU) under the 10th Malaysia Plan (10MP), Minister Datuk Shaziman Abu Mansor said. Among proposed projects are:

• the construction of a 73km road from Kota Baharu to Kuala Krai in Kelantan 
• to build the Jalan Segama Northern Bypass Lahad Datu (cost: RM150m
• to build the Jalan Jeroco Lahad Datu (Phase Three) (cost: RM120m)
• upgrading works on the 33km stretch of Jalan Ranau (cost: RM180m)
• the construction of three bridges from the Betong/Sarikei border to the Jalan Repok/Jalan Bulat junction (cost: RM85m). (Bernama)

The Ministry of Science, Technology and Innovation (MOSTI) has granted about RM157m to 183 projects for research and development of green technology. Its Deputy Minister, Fadillah Yusof said these projects were granted under the Intensification of Research in Priority Areas (IRPA), ScienceFund, TechnoFund, Commercialisation of Research & Development Fund (CRDF) and Community InnoFund (CIF). (Bernama)

Detailed studies must be carried out before any changes are made to the country's labour laws to ensure that workers rights are not compromised due to the changes. The Director General of Institute of Strategic and International Studies (ISIS) Datuk Dr Mahani Zainal Abidin said if there was any need for changes in the laws, discussions with parties involved such as unions must be held.

• She said Malaysia also needed a social safety network system so that changes made in labour laws do not affect workers. "The move to amend labour laws are timely considering the changes in the current environment," she said. (Bernama)