save malaysia!
Be financially self-reliant, Zahid tells govt agencies
savemalaysia
Publish date: Wed, 09 Oct 2024, 01:20 PM
KUALA LUMPUR: Government agencies must stop being too reliant on government allocations and learn to achieve financial independence, says Datuk Seri Dr Ahmad Zahid Hamidi.
The Deputy Prime Minister called for agencies under his ministry, the Rural and Regional Development Ministry (KKDW) to shift from being cost centres to profit-driven entities.
“This transition is essential in the face of global economic uncertainties and dwindling public resources. Agencies should find ways to generate their own income while continuing to serve the rural community," said Ahmad Zahid in his speech during the ministry’s monthly assembly at Wisma Felcra here on Wednesday (Oct 9).
He praised Felcra’s efforts as a leading example, having recorded a significant increase in interim distributable profits.
“Felcra announced an interim distributable profit of RM129mil, which is a 168% increase compared to last year,” he said.
This growth, according to Ahmad Zahid, is proof that government-linked agencies can achieve self-sufficiency while contributing to national development.
He also urged agencies to collaborate more closely with the private sector to foster innovation and boost rural development, citing several successful collaborations such as the partnership between Risda and Alliance Concord Green Sdn Bhd to develop renewable energy through biogas.
Ahmad Zahid said such projects not only create energy solutions but also provide economic opportunities for rural communities.
In addition to these collaborative efforts, he reiterated the importance of aligning with the government’s broader economic agenda.
Ahmad Zahid lauded the recent positive developments in Malaysia’s economy, citing the World Bank’s upward revision of the country’s gross domestic product (GDP) growth forecast from 4.3% to 4.9% for this year.
He attributed this improvement to effective government policies, increased investments, and political stability.
“Malaysia has seen remarkable economic progress, and this is reflected in the strengthening of the ringgit,” he added.
In the speech, Ahmad Zahid also highlighted that the ringgit appreciated by 2.5% against the US dollar in July 2024, outperforming other regional currencies, including the Singapore dollar, the Thai baht, and the Indonesian rupiah.
He also highlighted the surge in foreign investments, particularly in the technology sector where major global technology firms, including Nvidia, Google, Microsoft, Amazon, and Infineon, have announced a collective investment of US$20.2bil in Malaysia.
“These investments will act as a catalyst for further economic growth, attracting more domestic and international investors,” he added.
He called on government agencies to continue to enhance efficiency, and focus on delivering tangible benefits to the people.
Ahmad Zahid cited the ongoing collaboration between Felcra and the Department of Orang Asli Development (Jakoa), which has benefited over 2,100 Orang Asli participants through 52 rural development projects across nearly 6,800 hectares.
Through such partnerships, Ahmad Zahid envisions greater training opportunities for rural communities in areas like modern agriculture and entrepreneurship.
“With the involvement of agencies like Mara, we can offer entrepreneurship training that will empower these communities to build more sustainable businesses,” he said.
Ahmad Zahid also urged for the use of the Desa Community Dashboard to be accelerated.
He said the Desa Community Dashboard is able to provide faster access to crucial information such as agriculture, education, entrepreneurship training, and assistance.
He emphasised that the dashboard should be fully utilised by the Village Development and Security Committee (JPKK) and Federal Village Development and Security Committee (JPKKP).
https://www.thestar.com.my/news/nation/2024/10/09/be-financially-self-reliant-zahid-tells-govt-agencies
More articles on save malaysia!
KJ: Tengku Zafrul 'crossed the line', should see through PKR switch
Created by savemalaysia | Dec 21, 2024
Govt will monitor implementation of interim measures for health insurance products
Created by savemalaysia | Dec 21, 2024
Bursa wraps up 2024 with 55 IPO listings, highest in nearly two decades
Created by savemalaysia | Dec 21, 2024
Discussions
Be the first to like this. Showing 0 of 0 comments
Post a Comment
Featured Posts
Introducing MY's First IPO Fund for Sophisticated Investors!
New Update. Discover investment communities that resonate with your ideas
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
Apps
Top Articles
1
Rakuten Trade Research Reports
2
3
Stock Market Enthusiast
4
Mercury Securities Research
5
6
Stock Market Enthusiast
Top 3 AI/Data Center Newsflow for the 3rd Week of December - #TENAGA, #YTL, #YTLPOWER
7
Good Articles to Share
Southeast Asia has US$60b AI boom, but its own startups are missing out
8
Good Articles to Share
#
Stock
Score
Daily Stocks
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
Stock Name
Last
Change
Volume
MQ Trading Signals
Stock
Time
Signal
Duration
Stock
Time
Signal
Duration
Featured Advertisers / Partners
Ride The Bull Short The Bear
CS Tan
4.9 / 5.0
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
