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Wednesday, 21 June 2017

(The Star) Malaysia’s good infrastructure continues to help our economic growth, says expert

KUALA LUMPUR: The proof of the country’s strong economic fundamentals is in the numbers, says the country’s top statistician.

Statistics Department chief statistician Dr Mohd Uzir Mahidin said the findings of the five-year 2016 National Economic Statistic Census showed that the country was on the right track.

“Malaysia has strong fundamentals with good institutions and infrastructure which continue to attract investments and growth,” he told reporters after unveiling the census at Menara Suruhanjaya Syarikat Malaysia here yesterday.

Dr Mohd Uzir said the gross national output stood at RM2.5 trillion in 2015, representing a 7.5% growth.

“This is the first time since the census was implemented that the value of the national gross output in manufacturing reached it highest at RM1.1 trillion,” he said, adding that this was a rise of RM836.5bil in 2010.

He said this was followed by the service industry which grew from RM645.7bil in 2010 to RM964.7bil in 2015.

“Although there is a slowdown in the mining and quarrying sector, it grew from RM110.4bil in 2010 to RM131.1bil in 2015,” he added.

Dr Mohd Uzir said the agriculture sector also grew from RM53.5bil to RM73.9bil over the same period of the year.

He said private and infrastructure development projects saw the construction sector expand from RM91.3bil in 2010 to RM177.9bil in 2015.

He also said active companies recorded 6.8% growth, from 633,010 companies surveyed in 2010, to 920,624 in 2015.

The findings, he said, also showed that one in every five companies in the country was owned by women, adding that this accounted for 187,264 companies out of 920,624 active companies surveyed.

“The contribution of women to the national economy grew from 19.2% or 127,422 active companies to 187,264 companies or 20.3% between 2010 and 2015,” he said.

Dr Mohd Uzir said this meant that an average of 10,000 companies owned by women were opened annually during this period.