Najib believes China will lead global economic revival

By Wednesday June 3rd, 2009 No Comments

BEIJING: Prime Minister Datuk Seri Najib Tun Razak believes China will be at the forefront of the economic crisis revival.

“We are likely to witness a shift towards greater integration of the economies of the major countries of Asia with those of Southeast Asia,” he addressed the Malaysia-China Business Forum at the China World Hotel here Thursday.

He said the private sectors from these countries could be expected to have extensive opportunities to take advantage of this developing scenario.

“Given the diversity of resources of our two countries, and the different needs and opportunities that exist in our respective economies, I believe a wide spectrum of investment opportunities is available.”

Najib narrowed three key areas of interest for the Chinese to invest in Malaysia.

The three areas, he pointed out, were green technology and energy, resource-based and infrastructure projects and these were the areas in which Malaysia hoped to attract Chinese investment.

For instance, Najib said, projects like the second bridge in Penang, Menguam Dam, double track railway in the southern most tip, and the energy sector relating to Bakun Dam development.

Najib said he came to China not to walk in the same footsteps as his father once did 35 years ago, but to continue advancing what he had done in the important journey.

“I hope to walk faster and further because this great country of yours (China) has travelled faster and further than any other nation in recent history.

“Malaysia has been a loyal friend and we now want to be a true partner in China’s progress,” he said.

“Together working in harmony we could achieve much more than if we walk alone and separately.”

“Let us continue this together as loyal friends and good partners,” he said.

Najib said both countries shared common ground, adding that he “dares say that this identity of vision and purpose has given us the confidence that our two countries can continue to work together and succeed together.”

“Our current economic linkages attest to the close partnership that we have built over the past few decades.

“Between 1974 and 2008, bilateral trade has grown at an annual rate of 16.8%.”

For the past six years, he said, China had ranked as Malaysia’s fourth largest trading partner.

“Malaysia was the 19th largest foreign investor in China and the second largest foreign investor from ASEAN.”

Najib also witnessed the signing of 16 MOUs including the one between Sunzen Biotech Berhad and Regal Plus (Beijing) Investment Consultant Co. Ltd to supply animal feed additives made from biotechnology methods to China; one between Jia Yu Home Entertainment Sdn Bhd and Nanning TV Station to undertake the joint production of the 2010 Chinese New Year international broadcast to be aired in Malaysia and China, a first time ever cooperation which allows a foreign TV station to air its programme live in any provincial TV station in China during prime time; and one between the Malay Chamber of Commerce Malaysia and the China Council for the Promotion of INternational Trade to jointly promote trade between business community of both countries.

At a press conference, International Trade and Industry Minister Datuk Mustapa Mohamed told the Malaysian reporters that the forum was the biggest with the participation of over 900 businessmen from both countries since the last seminar organised in 2004 in the Chinese capital.

“We hope China will step up investments in Malaysia,” he said.

Najib also attended a gala dinner that was held to commemorate the 35th anniversary of diplomatic ties between Malaysia and China.

Source : The Star

Leave a Reply