OPPOSITION Leader Datuk Seri Anwar Ibrahim lamented in his speech in Parliament that mega projects suggested in Budget 2011 were a mere waste of public funds.
Budget 2011 manifests the Economic Transformation Programme (ETP), with our economic development entering a new era.
Hence, all projects spelled out in Budget 2011 are clearly a wise strategy to spur our economy to greater heights while cutting Malaysia’s dependence on foreign investment.
Large infrastructure projects have been announced to diversify investments and reduce dependence on foreign investments.
The construction sector will give direct impact to Gross Domestic Product (GDP).
In Malaysia, the services sector leads all other sectors (estimated to contribute 57.6% of the GDP), followed by manufacturing (26.6%) and agriculture (7.7%).
The Government has to provide infrastructure development – transportation, finance, retail, trading, industries and high-rise buildings – to further spur the economy. This is done to create new activities in the services sectors and to generate more growth.
New projects like the MRT, KLIA2, the new KL financial district, the Sungei Buloh development and PNB’s Warisan Merdeka Project would certainly make Malaysia a developed nation by 2020.
Considering that mega projects undertaken thus far – the Petronas Twin Towers, KL International Airport, Penang Bridge, Bukit Jalil Sports Complex, Putrajaya government administrative centre – have benefited the people, we should support more mega projects.
With mega projects, many economic sectors will be mobilised.
The Opposition in Parliament argue vehemently that Warisan Merdeka is a waste of public funds.
But I believe that the project will bring tremendous economic benefit to Malaysians.
Did you find this article insightful?