Steve
Forbes, chairman and editor-in-chief of Forbes, has praised Prime Minister
Datuk Seri Najib Tun Razak for following through with his transformation agenda
for Malaysia.
"Two years ago, the Prime Minister was
obviously newer on the job than he is today. But we have seen him follow
through on the things he said," Forbes told journalists at the opening of
the Forbes Global CEO Conference.
"It is not just the Government saying
this, but external observers have come to notice it as well," he said,
adding that concrete steps were being taken to restructure the economy such as
through reducing investment barriers and dealing with subsidies and taxes.
He also said the country's economy was moving
towards liberalisation, and that the government was rolling out the welcome mat
for foreign investors. "That makes this a good place to be," he said.
Forbes cites English proficiency, geography,
natural resources and human capital as some of the factors Malaysia has in its
favor.
"Having brain power and right human
capital is important for a country's development. I think the government
realizes this and is taking the necessary measures to improve the
situation," he added.
"The fact that Malaysia's foreign direct
investment (FDI) is increasing proves that global investors are looking our
way," said International Trade and Industry Minister Datuk Seri Mustapa
Mohamed, who was present at the launch.
Last month, Mustapa reaffirmed that Malaysia
was still on track to achieve its FDI target of US$10bil (RM30.4bil) this year
despite mounting concerns over the world economy. Last year, Malaysia recorded
US$9.1bil (RM27.6bil) in FDI.
He said that free trade agreements signed with
other Asian countries had helped diversify Malaysia's basket of foreign
investments and mitigate any drop in investments from the United States and
Europe, whose economies are struggling at present.
Mustapa also said negotiations with the United
States on the Trans-Pacific Partnership (TPP) agreement was well under way and
they were now discussing specific areas such as trade tariffs and financial
services.
The TPP is an Asia-Pacific regional trade
agreement currently being negotiated among the United States and eight other
partners. The negotiating partners are Australia, Brunei, Chile, Malaysia, New
Zealand, Peru, Singapore and Vietnam. It aims to improve economic integration
with the Asia-Pacific economies by creating common trade rules and expanding
market access.
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