KUALA LUMPUR, April 18 (Bernama) -- The government is aiming to achieve a target of 92 per cent in private investment in all sectors by 2020, said Minister in the Prime Minister's Department Datuk Dr Wee Ka Siong.
He said it was driven by the current private investments of 64 per cent of all investments in the country compared to public investments.
Wee said private investments had grown to 13.9 per cent between 2010-2014 from just 3.1 per cent in 2007-2010.
"In 2012, the bulk of private investments of 45.33 per cent was spent on expansion activities for companies, but only 0.20 per cent was for seed funding and 5.45 per cent for start-up stages of small companies.
"We need more venture capitalists to take the lead in boosting private investments," he said at the launch of the Rise of ASEAN Conference and the 8th Global Entrepreneurs Roundtable here, Saturday.
The three-day event organised by MOC Capital Bhd with the collaboration of Wealth Mastery Academy and MICE Preferred, is attended by 300 delegates from the ASEAN region.
They comprise entrepreneurs, small and medium business owners, bankers and fund managers, coming together to further discuss and share ideas from the economic aspect.