MIA: Budget 2010 Foundation For New Economic Model

KUALA LUMPUR, Oct 23 (Bernama) — The Malaysian Investors
Association says the Budget 2010 tabled by Prime Minister Datuk Seri
Najib Tun Razak is the foundation for the country’s new economic model
and precursor to the 10th Malaysia Plan.

“We welcome the RM191.5 billion, themed “1Malaysia, Together We Prosper”, its president Datuk Dr P.H.S Lim told Bernama.

He said the government has provided very good subsidies including
those for agro based industries, Halal industry, education, green
technology and others.

“We hope these subsidies boost the gross domestic product (GDP) in 2010 by two per cent.”

Lim said the association also welcomed the full liberalisation in
equity participation in brokerage companies allowing full ownership by
foreign companies.

“We hope this will result in more foreign brokerage companies moving into Malaysia.

“We need more foreign brokerage companies to promote Malaysian equities to the world to generate liquidity,” he said.

Lim said Malaysians were also fortunate that the capital market has recovered remarkablly.

“Current market capitalisation has reached RM950 billion, RM150
billion away from the all-time high of RM1.1 trillion in early 2007.
This improvement in the capital market has boosted consumer spending,”
he added.