Govt to review public, private sectors’ roles in economic plan, Mustapa says
20 Jul 2020
The role of certain public and private sectors will be relooked under the medium to long term economic recovery plan to spearhead Malaysia’s developments going forwards, Datuk Seri Mustapa Mohamed said on Monday.
Speaking during Invest Malaysia 2020 Series 2, the Minister in the Prime Minister’s Department (Economy) said the economic plan slated to be presented in October, will provide guidelines for the long term growth and sustainability of the country’s economy.
The medium to long term economic recovery plan will address a number of reform measures.
He said the government will also look at the future of workforce, labour market, quality investments as well digital economy, as part of the reform processes.
In addition to the plan, the government according to him will also be announcing its 2021 Budget on Nov 6 and the 12th Malaysia Plan (MP) in the first quarter of 2021.
“These documents, of course, will be carefully followed by the members of the private sectors,” he added.
To further emphasise on the Public-Private Partnership as a catalyst for broader sector reform and greater private sector participation, the government under the 10MP and 11MP said Mustapa, has established a Facilitation Fund of RM20 billion to boost private investment in nationally strategic areas.
From the RM20 billion allocated fund, RM5 billion is being allocated for land acquisition, while the remaining RM15 billion would act as a tipping point to help the private sector finance projects.
“It aims to help bridge the private sector viability gap with respect to projects that have a strategic impact and those with huge economic spillover effects,” he added.
To date, 320 Facilitation Fund projects worth RM14.23 billion have been approved so far, said Mustapa, adding that the projects have created RM232.47 billion worth of economic activities.