Malaysia set to be developed nation before 2020: PM Najib
KUALA LUMPUR (THE STAR/ASIA NEWS NETWORK) - Further liberalisation of the economy will be crucial to sustain investor interest and to build home-grown companies that can compete on the world stage, Malaysian Prime Minister Najib Razak said, as the country looks at measures to tackle near and long-term economic challenges.
Mr Najib said that more must also be done to increase women's participation in the workplace, rationalise subsidies and recognise the high performers in society.
"As we shift our economy towards services, we must also work to ensure a more equitable share in the nation's prosperity for all our citizens," he said in his keynote address at the Asia Oil and Gas Conference in Kuala Lumpur on Monday.
Mr Najib said Malaysia, which has set a target to achieve developed nation status by 2020, was set to meet the target ahead of schedule, thanks to its resilient economy that recorded a 5.6 per cent growth last year. The Government also recorded its highest ever revenue.