KUALA LUMPUR – A greater public-private partnership is crucial to drive the country’s economy and even more important in the years ahead, said Minister in the Prime Minister’s Department (economy) Datuk Seri Mustapa Mohamed.
He said although plans and policies have been put in place to help the country grow wealthier, the government cannot do it alone.
“We can set the direction, chart the course and plan the path, but it is the private sector – companies from the smallest small and medium enterprises to the largest multinational corporations – that have to be the drivers.
“We can build the road, but you have to drive the economy forward.”
Mustapa said in the next five years, the government, via the 12th Malaysia Plan, will put in place a number of reforms to make the economy more resilient and sustainable.
From digitalisation and labour market reforms to poverty eradication, public sector optimisation and nurturing talent will all ensure local competitiveness and productivity are at the cutting-edge relative to the rest of the world, he added.
“Beyond the shores of Malaysia, we must also be cognisant that we are part of a wider community – Asean. As one of the founding members of Asean, Malaysia has to step forward and lead the way.”
The minister said Malaysia must collaborate, cooperate, reduce trade barriers and work together with its regional neighbours to improve the socioeconomic status of its people.
The Asean region is set to become the next economic powerhouse, with a combined gross domestic product of US$3.1 trillion (RM12.8 trillion) last year, a population of 717 million and labour force of 335 million. – Bernama, April 2, 2021
