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Friday, 30 June 2017

(The Star) Growth target thrust to be focused in three levels

PUTRAJAYA: A micro-level approach is being carried out to increase and meet the national labour productivity growth target.

Deputy Minister in the Prime Minister’s Department Datuk Seri S.K. Devamany said the higher 3.7% annual growth was set under the 11th Malaysia Plan, adding that last year’s growth was 3.5%. He said the thrust will be focused at the national, sector and enterprise levels.

The national effort will be led by the core ministries and agencies to target productivity policies across the economic sector, while the sector-level initiative is to be spearheaded by key industry associations and anchor enterprises. The enterprise-level effort will be taken over by the respective managements.

“All these mean we are moving from the macro to the micro-level, with specific priorities set under the Malaysia Productivity Blueprint,” Devamany said in an interview.

The Blueprint, launched last month, spells out strategies and plans to meet the productivity target.

In order to become an advanced nation by 2020, Malaysia must record a labour productivity growth of 3.7% annually, among others.

Devamany said there were nine sub-sectors identified to boost productivity at the sector-level, divided into “three waves”, the first covering retail and F&B, chemical and chemical products, and electrical and electronics. The second wave will focus on machinery and equipment, tourism and agro-food, with the third on ICT, professional services and private healthcare.

“These are pertinent industries which have an impact on our GDP, income per capita and national economy,” he said.