Creating Private Sector-Led Economy
The achievement of the 6 per cent per annum growth target for the 10MP period requires a
significant leap in investment activities led by a more dynamic private sector. To achieve this
goal, the Malaysian Investment Development Authority (Mida) has been corporatised and
rebranded.
In addition, business regulations that are outdated will be abolished. Towards this end, the
Malaysian Productivity Corporation (MPC) will be restructured to spearhead a
comprehensive review of business regulations and improve processes and procedures to
increase the productivity and competitiveness of major economic sectors.
Healthy competition is needed to make the economy more efficient and dynamic. For this, the
Competition Law will be introduced to provide a regulatory framework against market
manipulation and cartel practices that may affect market efficiency.
A Competition Commission and Appeal Tribunal will be established to ensure more orderly
and effective implementation of the law.
China, India and the Middle East are among the rapidly growing economies. Malaysia, which
has historical and commercial links with these countries and is strategically located, must
strengthen its relationship with these countries, including East Asia. Therefore, Malaysia
must focus on building the regional markets through trade promotions and trade agreements.
In addition, we will continue to strengthen existing economic relations with Europe and the
United States.
I am confident that the measures we will implement can make Malaysia one of the best
countries to do business in, particularly in the Asian region. According to the World Bank
Report, Malaysia is now ranked 23rd out of 183 countries for ease of doing business. The
government believes that the country will be ranked among the top 10 by 2015.
This is not impossible given that Malaysia has leaped to become the 10th most competitive
country within a year based on the recent report of the Institute for Management
Development. Malaysia is the only Organisation of the Islamic Conference (OIC) and Non-
Aligned Movement country in this top 10 list.
However, the government will not rest on its laurels and will continue to strive to be among
the top five in the world in the future.
Public-Private Partnership.
Smart and effective partnerships between the public and private sectors will be established to
drive the economic transformation agenda. This new wave of public-private partnership
(PPP) will ensure equitable sharing of risks and returns.
To date, 52 high-impact projects worth RM63 billion have been identified for
implementation. These include:
Seven highway projects at an estimated cost of RM19 billion ringgit. Among the projects are
the West Coast Expressway, Guthrie-Damansara Expressway, Sungai Juru Expressway and
Paroi-Senawang-KLIA Expressway.
1. Two coal electricity generation plants at an estimated cost of RM7 billion ringgit.
2. Development of the Malaysian Rubber Board's land in Sungai Buloh, Selangor covering
an area of 3,300 acres at an estimated cost of RM10 billion ringgit.
The private sector will also have the opportunity to participate in the development of several
projects led by government-linked companies (GLCs). These include projects such as the
Kuala Lumpur Strategic Development by 1Malaysia Development Berhad (1MDB) covering
the Sungai Besi Airport area, the KL International Financial District in Kuala Lumpur,
construction of the liquefied natural gas regasification plant by Petronas in Malacca at an
estimated cost of RM3 billion, as well as two aluminium smelters in SCORE Sarawak with
an estimated cost of RM18 billion.
To help the private sector finance these projects, a Facilitation Fund of RM20 billion will be
provided under the 10MP. This fund aims to help bridge the private sector viability gap with
respect to projects that have a strategic impact and those with huge economic spillover. The
fund is expected to attract private sector investments worth at least RM200 billion during the
plan period.
Projects being considered for financing under this fund include Land Reclamation in
Westport in Port Klang, Malaysia Truly Asia Centre in Kuala Lumpur, and Senai High
Technology Park in Iskandar Malaysia, Johor.