Study to spur domestic growth


  • Nation
  • Monday, 13 Jan 2003

BY ZARINAH DAUD

KEPALA BATAS: An inter-ministerial study will be carried out to boost domestic investments to further stimulate the country’s economic growth. 

Domestic Trade and Consumers Affairs Minister Tan Sri Muhyiddin Yassin said the comprehensive study wouldlook into ways to promote the retail and wholesale industries, which churned about RM40bil in annual turnover. 

He said the study would be conducted by his ministry and the International Trade and Industry Ministry (Miti) on how to encourage local entrepreneurs to take part in domestic investments. 

“The Cabinet had deliberated on the matter last week and instructed me and Datuk Seri Rafidah Aziz to conduct the study before presenting a proposal. 

GETTING ACQUAINTED: Muhyuddin shaking hands with participants of the Penang Women Consumers Seminar in Bertam, Kepala Batas, Sunday.

“Miti will look into ways to encourage the development of small and medium-scale industries while my ministry will be responsible for the growth of the wholesale and retail sectors,” he said after opening a seminar on consumerism organised by the Penang Umno Wanita here yesterday.  

Also present were Deputy Chief Minister Datuk Dr Hilmi Yahaya and state Wanita chief Datuk Shariffah Aminah Syed Mohd. 

“Retailing is an important part of the economy as it involves the sale of local products,” said Muhyiddin.  

“The study will also look into how to make this sector more competitive and we hope to have our own hypermarkets soon, similar to the many foreign-based hypermarkets in the country. 

“We want to see more players in this sector which can be the country’s catalyst of growth,” he added. 

Muhyiddin also said the proposed draft of the Anti Pyramid Act, aimed at curbing the activity of get-rich-quick schemes, would be submitted to the Cabinet soon. 

He said the proposed Act would include jail terms for those who illegally collected deposits from the public.  

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 3
   

Next In Nation

Ku Li’s PC to be called off due to Covid-19 restrictions
Perak to distribute 20, 000 smartphones to B40 students
Miti slams employer who crammed workers into a lorry
Drinking session ends with lorry driver stabbed to death by friend in Nibong Tebal
Sarawak cops: Drug parties increasing in Kuching and Padawan during MCO
Kelantan to conduct house-to-house Covid-19 vaccination
Education Ministry: 2020 STAM results out on Thursday (June 17)
Woman: Covid-19 cruelly took my husband and 14 neighbours
Covid-19-positive man in Tongod who went into hiding found
Health DG: 639 workplace clusters linked to manufacturing sector

Stories You'll Enjoy


Vouchers