National Economic Action Council Executive Director Dato' Mustapa Mohamed on economic growth and investment in Malaysia

Abstract

Executive OverviewThe National Economic Action Council (NEAC) was established on 7 January 1998 as part of the Malaysian governments response to the 1997 Asian financial crisis. Chaired by the Prime Minister Dr. Mahathir Mohamad, its membership includes cabinet ministers with economic responsibilities and private sector representatives. NEAC's primary role is to protect the global competitiveness of Malaysia's economy, taking steps to prevent economic recession due to external shocks, and to strengthen the country's economic base. NEAC staff monitor global economic information and provide analysis and advice to the Council on direct foreign investment, the banking and finance sector, capital markets, development of key economic sectors, and social issues caused by economic downturns. Y.Bhg. Dato' Mustapa Mohamed was appointed Executive Director of NEAC on 18 July 2001. From 1999 he chaired the Labuan Development Authority and acted as adviser to the Ministry of Finance. From 1995 to 1999 he was Minister of Entrepreneur Development, taking on the additional portfolio of Second Finance Minister in September 1998. Dato' Mustapa began his political career in 1987 as Political Secretary to the Minister of Finance, subsequently being appointed Member of the Senate and Parliamentary Secretary to the Minister of Finance (1991). He was Deputy Minister of Finance between January 1994 and April 1995. He has been a member of the UMNO Supreme Council since 1993. A graduate of Melbourne University and Boston University, he served as Administrative and Diplomatic Officer in the Ministry of Finance (1974–1980), Lecturer at the National Institute of Public Administration (1982–1984), and Special Officer to the Minister of Finance (1984–1987). In 1997, he was awarded an honorary doctor of commerce degree by the University of Melbourne and an honorary fellowship by the National Institute of Public Administration (INTAN). Dato' Mustapa is the author of several books on the Malaysian economy and politics.