PM: Partnerships with foreign firms a great success

PUTRAJAYA: Partnerships between local and foreign companies have contributed to great success under the Economic Transformation Programme, contrary to claims that the country is being sold off, the Prime Minister said.

Datuk Seri Najib Tun Razak said the partnerships had created millions of jobs and years of healthy economic growth, allowing unemployment and inflation to be kept low.

“But you won’t hear that from our opponents. Every time foreign companies want to come here, they (the opponents) claim we are selling Malaysia off.

“We are doing nothing of the sort. They are trying to deceive the people.

“We, on the other hand, are trying to help the people and develop Malaysia,” he said after witnessing the signing of an agreement between local conglomerate Naza Corp Holdings and France’s Groupe PSA.

The two companies have inked a deal to jointly produce Groupe PSAbranded cars – Peugeot, Citroen, DS, Opel and Vauxhall – for the Malaysian and Asean markets at Naza’s automotive manufacturing plant in Gurun, Kedah.

Najib said unlike the Opposition, whose false promises did not stand up, the people could count on the Government to care for their wellbeing and longterm interests.

He said this included looking after the economy by attracting foreign companies to invest here, resulting in positive outcomes such as job opportunities, knowledge and expertise transfer, and enhancing the talents and efficiency of the local workforce.

“Under the Opposition’s plans, on the other hand, our credit ratings would be downgraded, borrowing costs for all would go up and Malaysia would lose its attractiveness as a destination for foreign direct investment.

“It is the people who would suffer,” he said.

Recognising the rapid advance of technology in the global automotive industry, the Prime Minister said the Government wanted to ensure that Malaysianowned car manufacturers were competitive and resilient.

Lauding the partnership between Naza and Groupe PSA, he said it was set to be another success story that would benefit both parties as well as the country, helping to develop a dynamic Malaysian automotive industry and encouraging local vendors to upgrade their skills.

“This is another great example of the kind of partnerships Malaysian companies with global aspirations are forging under this Government.

“Apart from creating new jobs, it will also help raise living standards and income levels,” Najib said.

He commended Naza for its contribution to the growth, development and diversification of the nation’s economy.

“What is also significant is the successful seamless transfer of the company’s management from one generation to the next.

“We know this is not an easy task, but Naza has made it.

“With this partnership, we will see Naza Group becoming a regional company,” he said.

Najib added that choosing Malaysia as the location for expanding its presence in Asean showed Groupe PSA’s confidence in the Government’s reforms and economic guidance.