Malaysia's Restructuring Of Economy A Positive Move To Attract Investors, Says Forbes
13 SEPTEMBER 2011 ,
"The Malaysian government has so far been delivering reality and that is why we are happy to be back here to see these initiatives come to fruition," he told reporters at the opening press conference in conjunction with the 11th Forbes Global CEO Conference here today.
This is the second time Malaysia has been chosen to host the conference after 2009.The three-day conference began today.
Forbes said Malaysia can offer attractive packages such as strategic location, rich resources, a good English speaking population, a government friendly towards investors and policies that are developed towards opening up the economy.
"So, if you put it together, its a pretty good package and the government will work with you and make it very attractive to put your capital resources here," he added.
He said the foreign direct investment data, which showed a tremendous increase of 530 per cent to touch US$9.1 billion (US$1 = RM3) in 2010, was a testament of confidence among investors in the country.
"People, putting in capital means, they see a future, and that is the best kind of confidence from them," he added.
Forbes said Prime Minister Datuk Seri Najib Tun Razak will make a presentation at the conference tomorrow on the changes made to encourage investment, build a positive trendline for Malaysia to be a more global economy and effective competitor.
The Prime Minister is also set to discuss improvements made in the education sector to attract foreign universities to set up facilities in the country.
Forbes said the government's efforts to help develop what economists called "intellectual capital" to move ahead and continuously make changes, was a positive step to enable the country to make the transition and achieve the goal of becoming a high income economy in the next decade.
Malaysia gets Forbes’ nod
By Goh Thean Eu
‘Impressive policies put it on track to developed nation status’
KUALA LUMPUR: Malaysia is on track to become a developed country mainly due to positive changes it has made to attract investors and grow the economy, said American editor, publisher and businessman Steve Forbes.
He said Malaysia’s recovery from the global recession was “impressive” and the country was doing the right things to improve its competitiveness.
He sees the Malaysian government delivering its promises such as restructuring, economic development, lowering barriers and other initiatives.
“Malaysia’s performance from outsiders’ perspective certainly has been very impressive.
So far, despite the adverse conditions around the world, it seems like Malaysia is moving in a positive direction. “Also, the country’s growth rate has been impressive, and I wish we can have something approaching that in the United States,” said Forbes, who is the editor-in-chief of business magazine Forbes .
Malaysia’s economy grew 7.2 per cent last year and is expected to grow by five to six per cent this year, partly driven by the Economic Transformation Prog ramme.
Forbes is in Malaysia to attend the Forbes Global CEO Conference.
This is the second time the conference is being held in the country. Malaysia played host for the first time in 2009.
Forbes, who was in Malaysia two years ago, said he has seen a big, positive difference in the country during the current visit.
“What you see today is there is follow-through, things are actually being done, restructuring positively, economic development, reducing barriers, dealing with subsidies, investment barriers and others.” These initiatives, according to Forbes, are being done in an environment where most of the governments in the world today are “going backwards instead of forward”.
“So, that is encouraging. It is a positive trend, that’s what we like, it’s one thing to make promises and quite another to work to make those promises a reality. So far, the Malaysian government is delivering on the reality.” International Trade and Industry Minister Datuk Seri Mustapa Mohamed said trade talks with the US were progressing well.
“We are already talking specifics.”
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