Tuesday May 22, 2012
Malaysia's eight golden years to come
By THOMAS HUONG
KUALA LUMPUR: The period from now till 2020 will be Malaysia's eight golden years as close to RM1 trillion of gross national income is expected to be created, said Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah.
“From now till 2020, we will go through some of the most significant changes to our economy. This period will be the pioneering years where new corporate leaders and captains of industry for our new high-income economy will emerge,” said Husni in his keynote address at the launch of the International Directors Summit 2012.
The two-day summit was organised by the Malaysian Directors Academy (Minda) and Asian Strategy and Leadership Institute.
Husni also told reporters that Malaysia was fortunate to have detailed planning to develop a high-income economy.
“The focus is on the private sector,” he said.
He also reiterated that SME Bank's plan to raise RM3bil over the next three years through a sukuk issue was to provide financing support to small and medium enterprises.
Minda chief executive officer Datuk Abdul Aziz Abu Bakar said while Malaysia had achieved significant economic and social progress over past decades, the challenges ahead were tremendous.
“It has become increasingly clear that the historical drivers of growth can no longer be relied on to deliver strong economic outcomes,” Aziz said in his speech.