Malaysia set to meet investment targets

Business Times

THE government believes it will be able to hit its investment targets this year under the Economic Transformation Programme (ETP) based on a survey it did.

Chief executive officer of Pemandu, Datuk Seri Idris Jala, said that this was based on questionnaires sent to 5,800 chief executive officers of medium and large companies in Malaysia.

"My team made 8,700 phone calls in two months to chase them and ask them 'tell us, how much are you investing this year?" Idris said.

The average investment figure for this year, based on the 10th Malaysia Plan, is around RM83 billion. 

Idris, however, declined to elaborate on details of the survey as an announcement will be made by Prime Minister Datuk Seri Najib Razak on March 8.

The prime minister will announce 23 more entry point projects (EPPs) on that day.

The government's commitment under the ETP is to encourage the private sector including government-linked companies (GLCs) to invest 92 per cent of the US$444 billion (RM1.3 billion) target by 2020.

The government will invest the remaining 8 per cent.

Of the 92 per cent, domestic investments represented over 70 per cent.

Idris was speaking at a dialogue hosted by PricewaterhouseCoopers on the key findings of its 14th Annual Global CEO Survey. Themed "What future are you preparing for?", the dialogue panel also included Stuart Dean, the president for General Electric in Asean.

The event addressed the limited supply of skilled candidates especially in high growth markets and the possible loss of top talent.

Among the findings of the Global CEO survey was that 54 per cent of CEOs in Asia say that they are confident of growth in the next 12 months.

Almost 90 per cent of them expect their operations to grow in the Asian region this year, with China and India considered key markets for future growth.

This survey involved 1,200 CEOs across 69 countries.