Aug 02, 2016 (LBO) – Malaysia’s model for economic growth in recent years has been driven by a focus on implementation, delivery and execution, Dato Sri Idris Jala, the chief executive officer of Malaysia’s Performance Management and Delivery Unit, PEMANDU, said.
He was speaking on Tuesday at the Sri Lanka Economic Summit 2016 organized by the Ceylon Chamber of Commerce.
“Plans are usually drawn at 30,000 feet. But the private sector is interested in the growth story.”
In Malaysia, in one instance, about 500 business people were put through “laboratories” of continuous discussion with the government. After eight weeks hashing out differences they had concrete proposals on the table, and they were subsequently implemented, he said.
In Sri Lanka, despite the many policy recommendations of a general nature, proposals that address specific problems, that are hashed out and implemented meticulously, are rare.
“90 percent of the problem is implementation, delivery and execution,” he said.
Commenting on the global economy, he said Malaysia was paying close attention to government debt.
Keeping government debt below 55 percent of GDP is a priority, with countries like Japan and Greece and the region of Europe being saddled by much higher levels of debt, he said.