Published: 2010/01/05
MALAYSIA has moved into the third stage of economic development, says the convenor of the Coalition of Services Industries Malaysia (CSIM), Yasmin Mahmood.
According to Yasmin, in this stage, the Malaysian economy is no more led by the manufacturing sector alone.
"It will be powered by both the manufacturing and services sectors.
"This is in line with Prime Minister Datuk Seri Najib Tun Razak's vision to see Malaysia as a services sector-driven economy by 2020," she said.
She also said to date, Malaysia had benefited from all the liberalisation measures undertaken in the past.
"The liberal and open market policies in the manufacturing sector have contributed to Malaysia being one of the most attractive foreign direct investments (FDI) destinations in the region.
"However, other countries in the region, are opening up their markets with low labour costs. All this poses a strong competition for Malaysia," she explained.
Yasmin, who is also the managing director of Microsoft (M) Sdn Bhd, highlighted that if the services sector liberalisation is well-utilised by all quarters, it had a bright chance to contribute 70 per cent to the nation’s gross domestic product (GDP) by 2020.
BERNAMA
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- Nuang
- Ibrahim bin Ramli@Nuang started his career with CIMB Wealth Advisors Berhad as Agency Manager in April, 2008.Previously he was an Internal Auditors and Accounts Executive with Perodua Sales Sdn Bhd since 17 August, 1994. His background:- 1.Certified of Achievement for Master Sales Leadership from Dr Lawrence Walter Ng of President of The Art Of Learning and International Of Learning Without Learning 2.Certified for eXtra Ordinary Performance of Lawrence Walter Award Certificate for One Million Ringgit Club 2007 3. Certified Life & General insurances 4. Conferred with Diploma in Business Studiess & Bachelor of Business Admin(Hons)Finance from UiTM, Terengganu Branch & Shah Alam respectively;
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