20100329 1246 Malaysian Economic News.

PM Datuk Seri Najib Tun Razak said whatever approach the government adopts in implementing the New Economic Model (NEM) will have all round support from Bumiputeras, non-Bumiputeras, foreign investors and the global market. He also said the government would ensure the NEM would attain the objective of transforming the country into a developed high-income economy.

• The NEM would emphasise on more equitable opportunities so that each and every Malaysian would be able to realise their maximum potential. The government would also identify new sources of growth, both in terms of where the growth was going to come from, plus looking at new markets. (Bernama)

DPM Tan Sri Muhyiddin Yassin gave assurance that the New Economic Model (NEM) that is being staged to make Malaysia a developed country by 2020 will not sideline rural folks. He said although many rural folks had achieved progress there were many others who were still left behind and were among those in hardcore poverty. (Bernama)

International Trade and Industry Minister Datuk Seri Mustapa Mohamed said the New Economic Model (NEM) will focus on Small and Medium Enterprises (SME). He added the government aimed to double the per capita income of Malaysians from the RM23,135 annually. The government would continue to help SMEs particularly those that involve partnership between Bumiputeras and non-Bumiputeras. (Bernama)

The country’s RM1bn annual sugar subsidy can be put to better use in rural Sarawak, said Assistant Minister in the Chief Minister’s Department Datuk Daud Abdul Rahman. He feels the money should be spent on development projects such as roads in the interior of Sarawak. (The Star)

The data on wealth distribution in the country will be updated, said deputy prime minister Tan Sri Muhyiddin Yassin. He said the updating could cover the distribution by race so that the people’s social-economic development could be evaluated. “Current records show that a large portion of the nation’s wealth is in the hands of the non-Malays.” (The Star)

The government has targeted 4,000 large-scale entrepreneurs under the Amanah Ikhtiar Malaysia (AIM) scheme by 2012. Deputy Human Resources Minister Datuk Maznah Mazlan said it’s viewed as a machinery to eradicate poverty under the National Key Result Areas (NKRA) by the government and the number was out of 240,000 AIM members nationwide. (Bernama)

The Rural and Regional Development Ministry will spend RM900m to provide various infrastructure facilities for the rural community including in Sabah and Sarawak under the National Key Result Area (NKRA) this year. Minister Datuk Seri Mohd Shafie Apdal said the cabinet had given the go-ahead to the ministry to spend the allocation and the amount was part of the RM18bn allocation provided by the government to implement NKRA programmes nationwide. (Bernama)

Civil servants in the country must be ready to change their mindset to ensure the success of the Government Transformation Programme (GTP) introduced by PM Datuk Seri Najib Tun Razak, says deputy director-general of Public Service Malaysia, Datuk Dr Ismail Alias. The role of the civil servants is significant in carrying out the aspirations and agenda of the government to be more effective in its delivery of services and accountable for outcomes that matter most to the people. (Bernama)

Some RM60bn of new issuances are expected for Malaysia’s bond and sukuk markets this year, which is about a quarter more than last year. Government-related infrastructure and bank’s capital raising exercises are projected to form the bulk of the domestic debt capital market’s activity this year, according to RAM Rating Services Bhd. (BT)