The importance of the financial services sector to the Malaysian economy has been growing over the past decade, with the financial services sector’s share of GDP growing from an average of 9.9% of GDP between 2000 and 2005 to an average of 10.9% over the period 2006 to 2009.
There are 10 Entry Point Projects (EPPs) and 6 Business Opportunities (BOs)
In addition to the 10 high impact EPPs, Malaysia expects baseline growth via significant business opportunities in the financial services sector in the areas of commercial banking, investment banking, Islamic banking, insurance and takaful, asset management, and wealth management as well as from other segments including DFIs.
This will account for RM71.9 billion (USD20.5 billion) in incremental GNI by 2020. We also expect 229,000 additional jobs to be created by 2020, including 100,000 professional and technical positions. This growth is derived based on historical growth rates and an outlook for each segment while maintaining current margins. Funding and investments of around RM145.8 billion (USD41.7 billion) will be required, almost 95% of which will be borne by the private sector.
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