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The Malaysia Plan

The Ninth Malaysia Plan
The Ninth Malaysia Plan, which covers the period 2006 to 2010 (rMK-9), represents the second phase in the implementation of the Third Outline Perspective Plan for the period 2001 to 2010, which will integrate strategies, programmes and projects towards achieving Vision 2020. The Plan will place an emphasis on maintaining the macroeconomic stability of the country to consolidate the economy on a sustainable growth path to achieve distributional goals and improve Malaysians’ quality of life. In order to enhance Malaysia’s competitive edge, special emphasis will be given to increasing productivity and efficiency through human resource development, encouraging research and development activities and utilizing the latest technologies, particularly information and communications technology. The Malaysian economy is projected to grow by an average of 6 per cent annually during the Plan and 6.5 per cent annually during the period of 2011 to 2020. Under the Malaysia Budget 2010, Malaysia’s economy is expected to grow by 2–3 per cent in 2010.

The Tenth Malaysia Plan
The Tenth Malaysia Plan (rMK-10) was unveiled in Parliament on 10 June 2010 by Prime Minister Dato’ Seri najib Tun razak to spearhead the Malaysian economy over a period of five years beginning 2011 to achieve developed-nation status by 2020. It is one of the four pillars of the national transformation program (the others being 1Malaysia, the Government Transformation Program (GTP), and the Economic Transformation Program (ETP)).
Under the rMK-10, the Malaysian economy is envisaged to grow at an average clip of 6.0 per cent per annum, led by the services and manufacturing sectors, revitalizing the agricultural sector towards higher value added as well as the adoption of information and communication technologies, biotechnology and other relevant technologies. The key challenge is to stimulate private sector investments to grow at 12.8 per cent or rM115 billion per annum. A business growth fund with an initial allocation of rM150 million will be set up to bridge the financing gap between the early stage of commercialization and venture capital financing for high technology products. The rMK-10 will focus on 12 national key economic areas to be announced later in October 2010.

Personal Data Protection
The Personal Data Protection Act 2010 (PDPA) came into force on 10 June 2010, making Malaysia one of the first Asean countries to introduce such legislation. It seeks to regulate the processing of personal data in commercial transactions.
The PDPA applies to both local and foreign individuals or companies operating in this country, as long as personal data is being processed in Malaysia. Personal data, under the PDPA, means any information in respect of commercial transactions that can identify an individual, for example name, age, MyKad details, photo, passport number, video and images captured via closed-circuit television. The term “process” includes the act of collecting, recording, holding, storing, carrying out operations involving alteration, use, disclosure, correction and erasure of personal data.
Generally, the PDPA can be seen to affect the way businesses and other organizations (i.e the data users) store the personal data of their employees, customers or suppliers (i.e. the data subjects),
First, the data users are required to inform the data subjects via written notice, inter alia, that their personal data will be processed, the purpose for which their personal data is being collected and processed, and that the data subjects have a right to request access and/or correction of the personal data. Subsequently, the data users are required to obtain consent from the data subjects to process the personal data, including the transfer of personal data to a place outside Malaysia. This consent granted by the data subjects may be withdrawn at any time via written notice to the data users.
Upon collection of personal data from the data subjects, the data users are responsible to protect the personal data from any loss, misuse, modification, unauthorized or accidental access, disclosure, alteration or destruction. The data users have a duty to also ensure that the personal data is accurate, complete, not misleading and kept up-to-date. In the event the purpose for processing such personal data has been fulfilled or the keeping of such personal data is no longer necessary, the data users are obliged to take reasonable steps to ensure that all such personal data is destroyed or permanently deleted.
It is noteworthy that even if the data users have collected and processed personal data before the PDPA comes into force, they are given a grace period of 3 months from the effective date of the PDPA to comply with the provisions thereof.

Competition and Regulation
The Competition Act 2010, which will come into force on 1 January 2012, marks the first piece of legislation in this country to address competition in generic terms, apart from specific legislation with some provisions on antitrust governing the energy and multimedia communications sectors. It promotes a competitive environment and provides foreign investors with a stronger confidence in the country’s business practices.
The Competition Act applies to any commercial activities within Malaysia. It applies equally to commercial activities outside Malaysia, which has an effect on the competition in any market in Malaysia.
In essence, there are two major prohibitions: (a) anti-competitive agreements; and (b) abuse of dominant positions. Anti-competitive agreements include price fixing, import cartel, bid rigging, territorial allocation, limiting production and market sharing; whilst the abuse of dominant position covers predatory pricing, price discrimination, excessive pricing and denying market access.
The Competition Act also introduces a Competition Commission to monitor and investigate potential uncompetitive markets, and a Competition Appeal Tribunal which allows petition of a decision by the companies.
With the enactment of the Competition Act, there is now a promotion of efficient functioning of the markets. It benefits consumers with lower prices and better choices made available, provides safeguard against practices that could drive companies out of business, allows lower entry barriers to promote entrepreneurship and growth of small and medium enterprises, and controls international unfair competition and restrictive business practices such as international cartels.