Sector

that

contribute

most

to

Malaysian

economic

development
Malaysia's services sector is continuing to expand and the hope is that
it will contribute even more to the national economy. Deputy Finance Minister
Datuk Ahmad Maslan said the government was generally supportive of
entrepreneurs wanting to start businesses, particularly in the services sector,
by providing various loan schemes. He said this in response to the latest
growth figures released by Bank Negara Malaysia on Friday which showed
the services sector to have contributed a strong, sustained six per cent to
the country's second quarter gross domestic product (GDP) figure of 6.4 per
cent.
An elated Ahmad said Malaysia's GDP growth for the quarter had
beaten most countries in the Asian region, including Singapore at 2.1 per
cent, while surpassing that of South Korea (3.6 per cent), the US (2.4 per
cent), the United Kingdom (3.1 per cent) and Russia (1.2 per cent). "Only
China at 7.5 per cent beat Malaysia's GDP growth," he added. Ahmad told
reporters this after launching H Pro Motorsport Sdn Bhd here. Malaysia's 6.4
per cent second quarter GDP growth also beat forecasts of analysts and was
a 0.2 per cent improvement over the first quarter.
The construction sector was the main contributor to the GDP sparkle at
9.9 per cent, followed by manufacturing (7.3 per cent), agriculture (7.1 per
cent), private consumption (6.5 per cent) and petroleum and mining (2.1 per
cent). Ahmad said the strong growth was the result of good management of
the economy in the midst of the uncertainty in the global environment, as
well as Malaysia's political stability. "The growth was not just focused on the
management of the country's expenditure but also the macro and micro
economy, imports and exports, fiscal and monetary policies, alongside
domestic and foreign investments," he added.

Meanwhile, H Pro Motorsport's chief operations officer Edward Chong

said the company was a pioneer in cleaning and maintenance technology for
vehicles with its environmental friendly concept utilizing a combination of
waxing and polishing. He added the company projects sales of RM18 million
for the first year, while providing business opportunities for those interested
in opening up H Pro franchises.

Reference
http://www.theborneopost.com/2014/08/18/services-sector-may-contributemore-to-malaysias-gdp-growth/#ixzz3Av8Xvgdh