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Expect more liberalisation moves, says Najib - Najib Razak

Expect more liberalisation moves, says Najib

By Sunday June 21st, 2009 No Comments

PUTRAJAYA: Prime Minister Datuk Seri Najib Tun Razak will unveil a number of significant liberalisation measures in the next few weeks.

“I will be making a number of other significant announcements with respect to our liberalisation agenda in the coming weeks,” he said in his keynote address at the Seventh Heads of Mission conference Monday.

Najib, who is also Finance Minister, hoped that with these measures, the services sector would increase its contribution to the economy from its current 55% to 70%.

“Let me state here that we are not liberalising to conform to some new economic orthodoxy nor is it for the sole purpose of attracting foreign investments and capital.

“Our objective is clear: to ensure that Malaysians – our people and our companies – benefit from the competitive dynamics that are shaping the global marketplace for ideas, talents and funds, so that Malaysian companies and Malaysians can emerge stronger, become more globalised and ultimately thrive in this new world order,” he said.

In April, Najib made two liberalisation announcements – relaxing foreign ownership in 27 services sub-sectors and in the financial sector.

Later in a press conference, Najib declined to elaborate on the soon-to-be announced liberalisation measures.

“Can you wait? If I say it now, then it won’t be a surprise,” he replied.

It is believed that Najib would be making an announcement on June 30 on issues regarding Foreign Investment Committee (FIC).

On another matter, Najib refuted claims the government had “bent backwards” to accommodate Singapore’s Minister Mentor Lee Kuan Yew during his visit recently .

“His visit was a fact finding tour of the situation in Malaysia, so we allowed it. We don’t think we have… in other words given him more than he deserves,” he replied when asked to comment about Lee’s trip.

Najib dismissed the notion that Lee was interfering with the situation in country and attributed his comments as Lee’s ‘style’ in doing things.

“I don’t think he wants to interfere. I think he knows that any suggestions that he tries to interfere would be counter productive.

“He has made a few comments but I think overall he wants to see Malaysia succeed. He wants to see a stabilised Malaysia. I think that is the most important thing.

“How he does it… is the style of the man. I think we have to recognise that everybody is different,” said Najib.

Source : The Star

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