Tuesday, May 18, 2010

20100518 0953 Malaysian Economic News.

The Works Ministry has identified projects worth RM65m for Class E and F contractors. Works Minister Datuk Shaziman Abu Mansor said the projects, part of 19 projects identified under the 9th Malaysia Plan (9MP) amounting to RM700m, would be awarded based on a quotation system. (NST)

Policies focused on promoting private investments (both domestic and foreign) and expanding the services sector are crucial for Malaysia to consolidate its present economic rebound and turn it into a sustainable growth pattern for the country over the longer term, according to a United Nations (UN) report. It expects Malaysian economy to grow at least 5.0% this year, driven by domestic consumption and exports. (The Star)

Outsourcing industry is expected to grow 15-20% this year as more companies outsource their services to remain competitive, said Interactive Intelligence Inc's regional sales director for Asean, David Toh Yue Heng. However, to remain competitive in the outsourcing market in the future, Malaysia will have to focus on segments where it can have an edge such as the mid-layer segment as the low-end segment is now dominated by India. (Bernama)

E-commerce transactions among small and medium enterprises (SMEs) are expected to grow by 20% this year following greater awareness by the government and industry players. Chairman of the Association of the Computer and Multimedia Industry of Malaysia (Pikom), Wei Chuan Beng, said e-commerce transactions in Malaysia were worth US$3bn last year. (Bernama)

The firmer ringgit is a natural progression that reflects the country's strong economic fundamentals and will serve well the nation's economy, said PM Datuk Seri Najib Tun Razak. The ringgit has been the strongest performing emerging Asian currency against the US dollar so far this year, gaining more than 7.0%. (Bernama)

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