Country Economic Work for Malaysia - Islamic Development Bank

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Innovation Exchanges among IDB Member Countries 163. The New Economic Model charts the way forward for Malaysian and sharing its experiences with other countries. To achieve the bold ambitions targets that have been set out, Malaysia plans to change the way it has been doing things – country must innovate. Malaysia has achieved tremendous success so far in terms of innovation, but it needs to intensify its innovation skills. However, the innovations achieved so far can be shared with the IDB member countries. (vi) Getting Benefits from Trade and EXIM Activities 164. Under the Economic Transformation Program (ETP), which is a comprehensive effort spearheaded by the Performance Management and Delivery Unit (PEMANDU), 12 National Key Economic Areas (NKEAs) have been identified to transform Malaysia into a high income nation by 2020. The NKEAs which include electrical and electronics, business services, and wholesale and retail trade are expected to make substantial contributions to Malaysia’s economic performance. The private sector will continue to assume the main role in driving economic growth. To facilitate private sector participation, Ministry of International Trade and Industry (MITI) is redoubling its efforts to further improve Malaysia’s business environment by introducing more pro-business policies and reviewing and updating existing business rules and regulations. The private sector is trying to enhance competitiveness by continuously improving its products and processes, and by being innovative and efficient. 165. The Government will continue to steer the nation towards a high income economy through knowledge-driven and high technology industrial base. The focus will be on attracting quality investments and encouraging existing industries to shift from lower value added products and services to reinvesting in higher value added and knowledgeintensive products and services. The emphasis will be on creating quality jobs, linking with local suppliers and contributing to export growth. These efforts are in line with the National Economic Model (NEM) aiming to transform the Malaysian economy to become one with high incomes and quality growth by 2020. Malaysian Trade Experience as a Model for IDB Member Countries 166. The launch of the Business Strategic Plan (BSP) 2011-2015, charts a new milestone for the Malaysian External Trade Development Corporation (MATRADE). The BSP provides a 5 year strategic plan to govern the organisational direction of MATRADE towards transforming the organisation into a credible, client centric and value creating Trade Promotional Organisation (TPO). The BSP will be used as a tool to position MATRADE as an effective trade promotion agency and to provide an important platform for MATRADE to improve its core business areas and operational processes including identifying appropriate measures to remedy any weaknesses. Over the next 5 years, under the BSP, MATRADE will adopt and implement 6 Strategic Pillars (SPs) containing 20 Strategic Initiatives (SIs). These strategic initiatives cut across various areas of the organization, ranging from exporters’ development and export promotion, information and communication technology, human capital development and processes improvements (Figures 6.5 and 6.6). 73
Figure 6.5: MATRADE Business Strategic Plan (2011 - 2015) Source: MATRADE Business Strategic Plan (2011-2015) Figure 6.6: MATRADE Thought Process Chart for Business Strategic Plan Source: MATRADE Business Strategic Plan (2011-2015) Malaysia’ to Help Achieving Intra-OIC Trade Target 167. It is imperative that Malaysia work closely with the IDB/ OIC member states in achieving OIC-Intra trade target of 20% by 2015. The Malaysian Business Strategic Plan 74
Page 4:
Acknowledgements Appreciation for s
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ISRA : International Shari’ah Res
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(v) Foreign Direct Investment……
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(2005)), key insights emerged in tw
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drain. Further, the Government need
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macroeconomic indicators are given
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SMEs are concentrated in the servic
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easy technology adoption, pro-busin
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Kelantan with the lowest per capita
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Figure 1.12. General Growth Diagnos
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that the Government’s Economic Tr
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(ii) Low Returns to Investments app
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Figure 1.22. Malaysia's Exports by
Page 31 and 32: 43. Malaysia’s private firms are
Page 33 and 34: over the medium-term. Several initi
Page 35 and 36: growth software compared to its maj
Page 37 and 38: esearchers and technicians in R&D p
Page 39 and 40: 59. Malaysia can further enhance it
Page 41 and 42: Annex Table 1.2. Malaysia: MDGs Ach
Page 43 and 44: 64. The Malaysian experience has al
Page 45 and 46: economic growth. The ETP is expecte
Page 47 and 48: 77. According to the Global Competi
Page 49 and 50: development of infrastructure throu
Page 51 and 52: a. Northern Corridor Economic Regio
Page 53 and 54: The challenge is for financial inst
Page 55 and 56: Original Equipment Manufacturing (O
Page 57 and 58: Intensify formalisation to promote
Page 59 and 60: Sukuk market has experienced unprec
Page 61 and 62: For innovation to become an importa
Page 63 and 64: y the United States (MYR2.3 billion
Page 65 and 66: (vi) (vii) Sharing Eexperience and
Page 67 and 68: institutions as well as Islamic pro
Page 69 and 70: Liberal Foreign Exchange Administra
Page 71 and 72: Issues/Challenges Facing the Islami
Page 73 and 74: Funding from Government of Malaysia
Page 75 and 76: programmes in the country. Initiati
Page 77 and 78: labeling and branding of Halal prod
Page 79 and 80: to over 200 industrial estates or p
Page 81: member countries can be provided te
Page 85 and 86: offered by the 35 MTCP training ins
Page 87 and 88: case of the economies in transition
Page 89 and 90: Key Challenges Facing the MTCP
Page 91: iii. Conclusion 185. Above diagnost
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