Monday, March 22, 2010

PM Najib woos top-notch investors

Prime Minister Najib Abdul Razak will deliver a keynote address at an international investment seminar at Hong Kong on Tuesday to draw more fund prospects to Malaysia.

Najib, who is also Finance Minister, will outline the country's plan to attract more fund managers to invest in Malaysia's economy when he speaks at the 13th Asian Investment Conference 2010 here.

The four-day conference is organised by global financial services group Credit Suisse.
Included in the PM's delegation is International Trade and Industry Minister Mustapa Mohamed.

Najib is expected to touch on liberalisation measures, provide hints on the make-up of the soon-to-be unveiled New Economic Model, increased efficiency via the Government transformation plan and moves to make Malaysia a high-income economy.

In a handout on the conference, Credit Suisse said under the leadership of Najib, Malaysia was implementing an aggressive agenda for reform and economic liberalisation.

Measures to attract more foreign investment into its equity market and to achieve a more favourable investment climate were hallmarks of the current government, it said.

Najib will also discuss with John Major, former British prime minister and special adviser to Credit Suisse, steps taken to make Malaysia one of the favourite destinations for investors in Asia and outline the nation’s plan for economic development.

Insights into fast-recovering markets

Najib, accompanied by wife Rosmah Mansor, arrived here on a government executive aircraft from the KL International Airport on Monday evening.

On hand to meet the prime minister at the Hong Kong International airport at 9 pm was Cheong Loon Lai, the Consul-General at the Malaysian embassy here.

His visit here to woo top-notch regional fund managers is timely as Asian economies and markets begin a process of recovery after the recent financial crises, a Bernama report says.

proton-cars-2Fund managers will look for insights to invest in fast-recovering markets, for which Najib stands ready to expound on Malaysia’s zest to become a favourite investment destination and particularly due to its surprisingly quick recovery vis-a-vis other regional and major economies.

Commendable economic growth

Whatever good news he brings to fund managers will be backed by the economy having turned around to chalk a commendable growth of 4.5% in the fourth quarter of 2009 after contractions in the previous three consecutive quarters, the Bernama report added.

The economy this year is expected to expand between 5% and 6% from a contraction of 1.7% in 2009, thanks largely to the Government’s foresight in unveiling stimulus packages worth RM67bil in the early stages of the global economic meltdown.

This boosted spending and domestic demand, which in the process, stimulated business activity.

Najib leaves for home on Wednesday. — Malaysian Mirror

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