KUALA LUMPUR, Aug 26 — The capital market will take on a more significant role in financing economic growth, with the aim of transforming Malaysia into a strong and vibrant economy that will function as a strategic regional hub, said Prime Minister Datuk Seri Najib Razak.

He said a well-functioning capital market was the cornerstone of the government’s Economic Transformation Programme to raise the country’s gross national income per capita to US$15,000 (RM47,380) by 2020 in order to achieve a high-income nation status.

“This ambitious endeavour is within our reach. As at end-2013, the capital market was valued at RM2.7 trillion, 2.8 times Malaysia’s gross domestic product,” he said in his speech during the launch of the Securities Commission Malaysia’s book, “Capital Market Development in Malaysia: Growth, Competitiveness and Resilience” here today.

The book was published to commemorate the commission’s 20th anniversary. — Bernama