M'sia needs a new economic model that is more versatile – Najib

KUALA LUMPUR, March 22 (Bernama) — Malaysia needs a new economic model that is more versatile to bring about a quantum leap so that the country can achieve developed nation status, said Deputy Prime Minister Datuk Seri Najib Tun Razak.

He said this was the challenge Malaysia needed to overcome once it comes out the economic crisis the world was facing now.

“We are stuck in between a developing and developed country. We are in the middle income group. So we must find a new economic model that can bring us up there among developed countries,” he said when interviewed on the Dialog@1 programme that was aired live by Radio Television Malaysia’s TV1 channel from Putra World Trade Centre here, Sunday night.

Najib, who is also Finance Minister, said Malaysia must maintain five per cent or more growth annually after the world economic crisis ended if it wanted to attain the status by 2020.

He also urged the people to work in tandem with the government to help the economy recover.

“That is the priority. There is no point in us talking about targets if are weighed down by an economic crunch.

“The onus now is to ride out this economic storm, then we can talk about targets or how the economic pie should be shared,” he said when asked by the host, Sayed Munawar Jamalullail, about bumiputera equity ownership.

Najib also said that he had instructed that a special website be set up for the two economic stimulus packages announced last November and on March 10.

He said the people can access the website to find out the latest developments on the packages in about a month’s time.

He added that he would also continue with the economic policies of outgoing prime minister Datuk Seri Abdullah Ahmad Badawi and his predecessors.

Source : Bernama

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