Malaysian is launching an ambitious national
economic development project, which promises to bring plenty of business
chances to neighbouring regions including Macau.
Edison
Choong Wan Sern, Trade Consul of the Consulate General of Malaysia in Hong
Kong, was in town to participate in the 2012 MIECF (Macau International
Environmental Co-operation Forum & Exhibition), and promote business exchanges.
Sern
said Malaysia is undertaking an aggressive program entitled “2020 Vision”,
which is to bring itself to a developed country by the year of 2020 with a GNI
(Gross National Income) of USD 15,000 per person annually, which is regarded as
on the high level in international standard. The country is currently still on
the medium level in term of personal income.
“To
achieve this target”, Sern said, “the country needs to attain a 6 percent GDP
growth rate each year. And that is to double the current rate.” It also means
that the authority and the private sector have to create 230,000 jobs in the
coming years, in the country with a 27 million population.
To
achieve this bold target, the country has launched a project to develop 12
crucial industries in which Malaysia has competitiveness. They include tourism,
education, agriculture, communication, infrastructure, electronic devices,
business and financial services as well as other trades.
He said
the government had already drawn up concrete action plans for each industry and
was on the process of implementing them. In the tourism industry, for example,
one of the main focuses is medical tourism, which combines medical treatment
with remedial leisure activities. Sern stressed that Malaysia has world-class
medical professionals and facilities, together with world-famous resorts, which
make the plan all attainable.
Although
they do not have a specific working plan that target the Macau market, Sern
said the city would be able to find many more new business opportunities in the
“Vision”, because the government had relaxed the limitations to foreign
investors, such as lowering the threshold for joint ventures between overseas
and local companies. In the past the authority required foreign corporations to
have at least 30 percent of their shares
controlled by local partner(s), now they have cut it to 10 percent to encourage
more investments.
Gaming not encouraged
Asked
if the country would follow her neighbors, such as Singapore and Philippines,
by developing gaming industry as a new engine for economic growth, Sern said
the government obviously would not push for the opening up of local gaming
market, and that gaming was not included in the 12 industries that the
authority determined to advance.
He
conceded that there are social and religious concerns as the majority of the
Malaysian population is Muslim, but that the country is the first in the region
to run a large-scale casino, now still operating in the Genting Highlands, and
that some Malaysia companies have investments in Macau casinos.
However,
he did not categorically rule out the possibility: “You never know,” he said,
“but currently, the country still focuses on the more traditional business such
as export of raw materials”. And he said “the export to Macau has been
increasing.”
Meanwhile,
the government trade promotion agency of Malaysia External Trade Development
Corporation (MATRADE) was in town with 18 Malaysian companies to participate in
the MIECF. While the private companies are showcasing their innovative products
in environmental protection and energy conservation, MATRADE is out to promote
Malaysia and link interested buyers with Malaysia exporters.
Sum
Choi
macaudailytimes.com.mo
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