‘MALAYSIA’S SUCCESS KEY TO ATTRACTING INVESTMENT’
Implementation of programmes earns confidence of foreign investors, says Najib
THE success of the government in carrying out transformation programmes is key to attracting foreign investments to Malaysia, said Prime Minister Datuk Seri Najib Razak.
He said the implementation of the National Transformation Programme (NTP) and the Economic Transformation Programme had earned the confidence of foreign investors and international rating agencies.
He said as a result, the International Monetary Fund (IMF) had placed Malaysia on the right track to achieving developed nation status.
“IMF, in its report, acknowledged that Malaysia is on the right track to achieve a high-income nation status, and the World Bank has recognised that this country is progressing well following reforms and careful stewardship.
“Our efforts have also earned the recognition of Pennsylvania University in the United States, which listed Malaysia as one of the best countries for investment in its research last year,” he said at the opening of a hotel in Pantai Kok here yesterday.
Najib said another notable achievement included the investment by Groupe PSA, Europe’s second-largest car manufacturer of the Peugeot and Citroen marques, to enter into a joint-venture with Naza Group to set up a manufacturing facility in Gurun, Kedah.
He said the government had recorded successes through NTP, such as growth in the national gross income by more than 50 per cent, the creation of 2.7 million jobs and maintaining low rates of unemployment, inflation and hardcore poverty.
“Two years ago, I came here to open the St Regis Langkawi and, today, I am honoured to be invited to open another hotel with an investment of RM360 million, which created more than 350 jobs.
“This is just another example of investment by premium brands in Langkawi, and I wish to see more investments, not only here, but also in other parts of the country.”
He said the investment reflected a high level of confidence among international brands in Malaysia’s economic stability and the success of the Langkawi Tourism Blueprint.
“With 14 unique initiatives, the blueprint attracted 3.6 million travellers and RM11 billion worth of investments between 2011 and 2015, exceeding our initial target of three million travellers and RM5 billion in investments.
“In 2016, Langkawi recorded the arrival of 3.6 million travellers and generated RM4.6 billion in revenue. In 2017, the island attracted 3.8 million travellers. We are confident that the number will continue to grow.”
He reiterated his commitment to spearhead efforts to transform Langkawi into a world-class island resort, adding that he had approved an allocation to build an aerobridge as part of the upgrading of the Langkawi International Airport.
“This initiative is to attract more direct flights to Langkawi.
“In the Barisan Nasional manifesto for the 14th General Election, we pledged RM86.5 million to improve facilities at the jetty terminal and the Customs and Immigration Complex, as part of our long-term commitment to create more jobs and uplift people’s living standards.”