YB Minister MITI chaired the Malaysia Services Development Council (MSDC) 1/2017 meeting on 1st March 2017 at MITI, attended by representatives from MITI and agencies, KKR, PEMANDU, EPU, AGC, MOT, DOSM, MOH, MOHA, CUSTOMS, IMMIGRATION, CIDB, MDEC, MOF, KKMM, MOHR, and Industry Associations such as FMM, MSPC, NAPEI, CILT, MAPCU and PIKOM. 8 papers were presented in the meeting which includes 2 discussion papers, 1 information paper and 5 updates.
In his opening remarks, YBM updated the Council on the recent achievements of the services sector, including GDP contribution, trade and investment performance of the services sector. Among the highlights of the services sector to date is its large contribution to the GDP (54% in 2016) and approved investments (71.9% from January-September 2016).
During the meeting, the Council was also briefed on the various initiatives being put in place to boost the performance of the services sector, particularly in increasing exports, domestic capabilities, as well as simplification of regulations and procedures. The next MSDC meeting is scheduled to be in May 2017.