Money for foundation to help Penang Malays

(Bernama) – Prime Minister Najib Razak said today the government would make a financial provision to enable a foundation based in Penang to help in the economic advancement of Malays in the state.

“The amount has not been decided yet but what is important is that there is another body besides Umno to help Malays (in Penang),” he told reporters in Penang.

Earlier, Najib had opened the Penang Malays Economic Convention 2010 here today. The two-day convention is themed “Seizing Opportunities in Challenges.”

“The money can be used for micro-credit or entreprenerial schemes… just don’t misuse it,” he said.

He added that proper long-term and short-term planning was needed to uplift further the economic status of Malays in Penang as the state was now controlled by the opposition.

Meanwhile, Najib said Malaysia’s economic recovery is promising when compared with other
countries.

Citing a report prepared by the Economic Planning Unit of the Prime Minister’s Department, he said Malaysia’s economic growth was more encouraging than others.

“In the next few days, the government will announce the first-quarter Gross Domestic Product growth figure,” Najib said.

The prime minister said although the global economy was still somewhat shaky with the weak stock market in Europe, yet, Malaysia managed to record impressive growth.

“Economic indicators show that Malaysia’s economic situation is improving,” he said, adding that the recovery stemmed from the government’s fiscal and financial initiatives.