#10MP* Foreign investments crucial to 10MP - consultant

KUALA LUMPUR: Foreign investments will be crucial for the 10th Malaysia Plan (10MP) to succeed, said Kumar Tharmalingam, Chairman of real estate consultancy Hall Chadwick Asia Sdn Bhd.

Despite the government’s call to form smart and effective Public-Private Partnership (PPP), which includes a Facilitation Fund of RM20 billion to help bridge the private sector viability gap, Kumar expects most of the investments to come from overseas.

However, Kumar said, to bring in international funds, the country would need to create a culture of competency, one that eliminates red tape.

He added that the real test of any plan is in its execution and “the faster we can execute the plan, the faster people can see the benefits,’ said Kumar when commenting on the 10th Malaysia Plan tabled in Parliament by Prime Minister Datuk Seri Najib Abdul Razak on June 10.

Kumar who is also a member of the board of Malaysia Property Inc (MPI) said a key challenge would be in stimulating private sector investments to grow at the targeted 12.8% per annum or RM115 billion per annum.

As many as 52 projects worth RM63 billion have been identified for implementation with the government saying that the private sector would have the opportunity to participate in several projects led by government-linked companies (GLCs).

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