PM to unveil more liberal changes

By Monday June 22nd, 2009 No Comments

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

With these measures, he hoped the services sector would increase its contribution to the economy from its current 55% to 70%.

“We are not liberalising to conform to some new economic orthodoxy nor is it for the sole purpose of attracting foreign investments and capital,” said Najib, who is also Finance Minister.

“Our objective is clear: to ensure that Malaysians – our people and companies – benefit from the competitive dynamics that are shaping the global marketplace for ideas, talents and funds so that we can emerge stronger, become more globalised and ultimately thrive in this new world order,” he said in his keynote address at the Seventh Heads of Mission Conference yesterday.

In April, the Government declared liberalisation of equity ownership in 27 services sub-sectors.

It is believed that Najib would announce on June 30 issues regarding the Foreign Investment Committee.

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

“His visit was a fact-finding tour of the situation in Malaysia, so we allowed it. We don’t think we have given him more than he deserves,” he said.

Najib dismissed the notion that Lee was interfering with the Malaysian situation.

In his speech, he called on diplomats to be creative and think out of the box when dealing with changes in an inter-connected world.

He said that diplomats would need to be alert and sensitive to change and be acutely aware of the opportunities and challenges that impact on Malaysia.

He said he looked forward to meeting US President Barack Obama so that both sides could enhance their goodwill and work towards greater achievements for the region and beyond.

Source : The Star

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