Domestic growth will be remain strong and stable

Yayasan Pendidikan Kawasan Bandar Tun Razak Chairman, Mr Chew Yin Keen said the global economic situation remains uncertain after the Greece National election lately. However, several projects under the Economic Transformation Programme (ETP)are expected to take place in the second half of this year, domestic growth will be remain strong and stable.

He added, with the support from the people and private sectors with ETP, these projects will be commenced smoothly, striving the domestic economy to a higher scale.

Although, it shown a decrease of 13% of Malaysia Export in early March this year, he is confident that there will be increase of growth of Malaysia’s exports as long as the country remains stable and Malaysia is one of the main export country for palm oil, rubber and other natural resources.

He said the most important thing is the people and private sectors should participate and support the government’s implementation series of development and restructuring plans in order to succeed Malaysia as one of the high income nation towards 2020.

The fundamental is people must have confident with the government’s implementation plans, so that ETP will be succeeded.

He cited that the MRT Projects, which costs 40 billion ringgit, involves participations of various fields such as developers, engineers, contractors, lawyers, general workers that not only benefit the people in Malaysia, but striving the domestic economy as well.

The people need the government and vice versa. The growth of country will benefit the people’s income, opportunities, assets and wealth.

After the Greece national election, world economic crisis and Euro debts crisis are still uncertain. Even if the debt crisis in Europe is deteriorating, it will not be a significant negative impact to Malaysia directly, however affecting the trade and financial market.

He said according the statistics, the total Malaysia Export in Europe trade is approximately 9 %, after China and other Southeast Asian countries. It might only cause the slow down on export trade activities as Malaysia is not the main export country in Greece.