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Friday, October 17, 2014

Then stop scaring investors with repressive policies: ‘Private capital vital for Malaysia’ - Wahid

Then stop scaring investors with repressive policies: ‘Private capital vital for Malaysia’ - Wahid
PUTRAJAYA - ATTRACTING capital is very important for Malaysia, which is in the upper middle-income nation category.
Minister in the Prime Minister’s Department Datuk Seri Abdul Wahid Omar said the projects that had been outlined under the Economic Transformation Programme (ETP) were worth RM1.4 trillion.
“The government wants at least 90 per cent of these projects to be funded by the private sector, and we need more capital to fund the projects,” he said after opening the “National Conference on Growth and Inclusiveness: Transformation of Malaysian-Indian Economy Beyond 2020” yesterday.
He also said it was important for the government to create a conducive environment not just in the debt capital market, but also the equity capital market.
He was responding to questions on whether Malaysia was ready to impose a Capital Gains Tax (CGT) and if the stock market here was ready to adopt it since it was not as mature as those in the United States and the United Kingdom.
Wahid praised the 2015 Budget announced by Prime Minister Datuk Seri Najib Razak, who is also finance minister, saying it was extensive and considered the multiethnic communities in the country.
“From my own experience, I think this must be one of the most comprehensive budgets ever (tabled). It is in line with the prime minister’s commitment to make it a ‘people’s economy budget’ in balancing between the capital economy and the people’s economy,” he said. -NST

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