World

Najib hopes M'sia will be a top-20 economy

M'sian PM expects economy to hit $640b in 8 years

JOHOR BARU Malaysian Prime Minister Najib Razak, who hopes to propel his country into the top 20 in the world, said he expects its economy to hit 
the RM2-trillion (S$640-billion) mark in eight years.

Mr Najib, who is also Finance Minister, added that he expects Iskandar Malaysia to play a role in the government's plans.

He said at Iskandar Malaysia's 10th anniversary lunch yesterday that the growth corridor has helped the state become an economic powerhouse.

Describing the progress as nothing short of phenomenal, he said that as at last month, the committed investment figure since 2006 stands at RM221 billion.

With this, Mr Najib said the government can look at a 10-fold return on investment as it had pumped RM20 billion into Iskandar Malaysia.

"This is most encouraging. Moving forward, we can even realise a return in investments 20 times that," he said.

Mr Najib also launched the Iskandar Malaysia 10 Year Progress Report, which documents the journey of the region, towards realising its vision to be a "strong and sustainable metropolis of international standing".

14,000 JOBS CREATED

He said global business services would be one of the promoted sectors in Iskandar Malaysia, adding that the move would attract some RM6.5 billion in investments and create about 14,000 jobs.

Iskandar Regional Development Authority chief executive Ismail Ibrahim said significant changes could be seen in the region, not just economically, but also in social development, throughout the 10 years. - STAR, NEW STRAITS TIMES

JohorNajib RazakEconomy