- Police classify death of man in lock-up as murder
- 18 protestors detain for ignoring police orders to disperse
- RON97 price down by 20 sen
- 'Opposition reps are anarchists': Tunku Aziz
- BANTING MURDER: N. Pathmanabhan, three farm hands get death
- British soldier hacked to death by Muslim terrorist
- IGP: Zero tolerance for street crimes
- PKR may postpone party election this November
- Public advised not to visit places with leptospirosis cases
- Britain calls emergency meeting after man killed in London
- Police deny photo of Adam Adli being handcuffed was taken at the Jinjang police station
- S. Korean girl killed by suicide jumper
- Toddler drowns in pail of water
- Atheists are good if they do good, Pope Francis says
- Three people killed in road accident More
Nor Mohamed: Economy at its best due to govt's wisdom
KOTA BARU: Malaysia's economy is at its best due to the government's wisdom not to rely on outsiders to succeed, Minister in the Prime Minister's Department Tan Sri Nor Mohamed Yakcop said today.
He said in the old days, the country was dependent on selling commodities like tin and rubber to developed countries but now, it had diversified its sources of income and no longer focused on those countries.
"Those times have passed.
"Now, we are an industrialised country, having diversified our economy. Our focus includes countries like China, India and Arab nations whose economic growth are as high seven per cent.
"If we pay attention to the US, Europe and Japan only, surely the country would have been adversely affected if they are experiencing economic problems," he told reporters after launching Aspirational Tour 2012 here.
The programme was organised by Yayasan Peneraju Pendidikan Bumiputera (YPPB), a foundation that champions Bumiputera education. Present were Bursa Malaysia chief executive Datuk Tajuddin Atan and YPPB chief executive Raja Azura Raja Mahayuddin.
Nor Mohamed said Malaysia's economy would grow 5 per cent this year if all quarters took part in government efforts.
"We also do not rely too much on exports, but domestic factors also play a key part in generating the economy of our country," he said.
He said the country's expertise in infrastructure development also provided opportunities for the export of services to other countries such as in highway construction.
"Contracts are plentiful elsewhere and it seems, this gives the country opportunities to move forward," he said.
Nor Mohamed also refuted claims of shortage of funds for future development of the country, saying that last year, tax receipts alone had reached RM26 billion.
"We have plenty of funding available for essential projects and also to ensure the people are not affected by price increases through the provision of subsidies," he said. -- BERNAMA