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GLCs are growth catalyst [04-10-2012]  
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GOVERNMENT-linked companies (GLCs) are catalyst in spurring the country's economic growth, Prime Minister Datuk Seri Najib Razak said.

He said since the launch of the government's GLCs Transformation Programme in May 2004, the country has recorded significant progress providing 359,187 jobs with a tax collection of RM40 billion.

"GLCs have also trained 12,757 graduates and spent RM315 million on training and human capital.

"In line with its establishment, GLCs play a pivotal role as catalyst in the country's economic growth,"the prime minister said in his speech yesterday at the launch of the RM262 million Mercu UEM, the UEM Group Bhd's new office tower headquarters.

Najib, who is also Finance Minister, said GLCs also play a key role in implementing government policies and initiatives besides generating the capacity and knowledge in major sectors for nation-building.

He said UEM Group along with other GLCs are set up by the government to provide the country with strategic services such as energy, telecommunications, aviation systems, public transport, water and water sewage, banking and financial services.

Najib also praised UEM Group's achievements, saying it had expanded operations in its core business such as highway construction, township and property development, engineering, construction and asset management amid the increasingly competitive global and foreign economic environment.

"Our country has world-class highways and now we are migrating to other countries such as India, Indonesia, Brunei and the Middle East.

"The UEM Group is also the main developer of Nusajaya (in Johor), the biggest integrated township development in Southeast Asia and also has an excellent track record in designing and building iconic mega infrastructure projects," he said.

Apart from operational excellence, Najib urged the group to continue its initiatives to develop human capital and the environment.

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