10MP Focus On Intangible Assets Timely For Economy Transformation

11 June 2010 , By Bernama

The newly-unveiled 10th Malaysia Plan's higher focus on intangible assets is timely and appropriate as it can help structurally transform the economy onto the path of knowledge-based growth, inclusiveness and sustainability, says Khazanah Nasional Bhd's Managing Director, Tan Sri Azman Mokhtar.

"The significant shift in the locus of development allocation of RM230 billion in the 10MP to 40 per cent for intangible capital from 22 per cent in the preceding 9MP is very timely and wholly appropriate," he said in a statement issued in response to the 10MP.

"It is precisely what the New Economic Model needs and dictates in order to structurally transform the economy."

Azman also noted that the plan touched many parts of the government investment arm's work and would help give fresh impetus to many areas.

These areas include the economic cluster development in Iskandar Malaysia, collaboration and transformation in Government-Linked Companies, talent development and education; as well as in nine of the 12 identified National Key Economic Areas.