Problems and prospects of the IMT-GT concept and strategies from the perspective of private sector in Malaysian Northern states

• Main Authors: Ibrahim, Fatimah Wati, Ahmad Samidi, Munzarina, Abdul Karim, Noor Al-Huda
• Format: Conference or Workshop Item
• Language: English
• Published: 2000
• Subjects: HF Commerce; JZ International relations
• Online Access: http://repo.uum.edu.my/6444/1/mUN.pdf; http://repo.uum.edu.my/6444/

The establishment of the IMT-GT area is to promote closer economic ties and linkages amongst the sub-regions involved Conceptual, the cooperation offers tremendous opportunities for private sector in the sub-regions since they possess considerable resources and growth potential.This study tries to evaluate the concept and strategies of the IMT-GT based on current performance and cooperation of private sector in the sub-regions.The specific objectives of the study are to examine the present condition of private sector of the IMG-GT area towards the fulfillment of its concept.This study is descriptive and based on library research whereby secondary data from official resources is utilized.Collection of primary data is based on structured interview with certain related individuals.The study found that there are several issues pertaining to MoUs and its implementation.In terms of prospect, there are tremendous prospects for the triangle emerging from differences in national factor endowments that suggest specialization opportunities.IMT-GT achivement is evaluated using indicators identified that include pattern of investment and trade flows.In terms of investment, there has been a significant increase in the proposed capital investment, thus creating new employment.Although Indonesia and Thailand were not considered as the leading foreign investors, their contributions were quite significant and showed some improvement over the period studied.In terms of trade, after 1994 the volume of intra-IMT trade has shown an increasing trend.Since economic complementarity is the key feature of the growth area, this study generally suggest that there is a need for increasing effort in overcoming problems and removing obstacles in project implementation while identifying factors that can contribute to the region's development.