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Monday February 21, 2011
6% economic growth possible this year, says Lim
By ALLISON LAI
SUBANG: Malaysia is capable of achieving economic growth of between 5.5% and 6% this year if exports and domestic demand increase while leakages are cut.
Deputy Finance Minister Datuk Donald Lim Siang Chai said the expected growth was based on information from the World Bank and Bank Negara.
This would translate into more jobs and business opportunities, he said.
“The 7.2% economic growth registered last year was a significant achievement under the leadership of Prime Minister Datuk Seri Najib Tun Razak.
“If we cut leakages, improve exports and increase domestic demand, we will be able to achieve this growth (between 5.5% and 6%),” he told reporters after launching the 1Caring Heart Charity Line Dancing programme at Subang Avenue here yesterday.
Lim noted that political stability was an important factor for many investors worldwide, such as from the Middle East and Europe, to choose Malaysia as one of their preferred destinations.
“In fact, we noticed that foreign direct investment increased to RM21.7bil last year from the RM4.3bil the previous year,” he said, adding that the five-fold leap was a good sign of a strong performance this year