KUALA LUMPUR, March 19 (NNN-Bernama) — Malaysia will return to its Asian tiger status in three years, says Finance Minister Lim Guan Eng.
He said the 48 per cent jump in foreign direct investments to RM80.5 billion in 2018, compared with RM54.4 billion in 2017, reflected investor confidence in Malaysia’s economic health.
Lim said Chinese and Japanese investments into Malaysia had increased substantially and he hoped local investors would follow suit.
“2018’s figures have been positive despite certain predictions and I think Malaysia’s economy is progressing well. We have exceeded consensus estimation even for the previous month.
“The Industrial Production Index at 3.2 per cent in January was higher than the estimate compiled by Bloomberg at 2.3 per cent,” he said in his keynote address at the Invest Malaysia 2019 capital market forum here.
Lim also said the privatisation of civil service will not result in civil servants losing their jobs.
“Referring to the privatisation done in the eighties, where for example Telekom Malaysia (TM), which under the government at that time and the workers were then, of course, absorbed to the new corporatise TM.
“At that time, that help to reduce the number of workers in civil service,” he said during a conversation with minister held at the Invest Malaysia 2019 capital market forum here today.
On the timeline of the privatisation of the civil service, he said this would depend on proposal and discussion with the affected workers.
“I would like to say now, that this is something that is in progress. It will not be done quickly or immediately without giving regard to the concerns of all the stakeholders,“ he added.
Asked on the list of the government agencies to be privatised, he said this will be announced by Prime Minister Dr Mahathir Mohamad. — NNN-BERNAMA
