Malaysia, One Of World's Favourite Business Location For International Organisations -- PM Najib

KUALA LUMPUR, March 28 (Bernama) -- Prime Minister Najib Razak said the establishment of the World Bank Group Office in Kuala Lumpur goes to show that Malaysia is one of the most favoured location in the region for international organisations and businesses. Despite the global headwinds and uncertainties, the premier said the local economy continued to expand by five per cent last year, supported by resilient domestic demand and steady expansion in the services, construction and manufacturing sectors. "Our fundamentals are strong. "We are proud of our record and of our continued insistence on taking the right decisions for Malaysia and our economy, so that we do not learn from the course of building a sustainable and inclusive future for all Malaysians," he said at the launch of the World Bank Group office here Monday. The office will also be a regional research hub which will focus on regional and global development policies. This, he said, would contribute to the highly regarded World Bank Doing Business Report and provide operational support for dialouges, enterprise and commerce in South East, East and South Asia. Najib said the office was also expected to be knowledge hub, bringing together Malaysia and World Bank experts in areas where both parties can share each other's experiences of growth with other World Bank members, in particular developing economies. "Among the key areas which others can draw on what we have done and learnt are growth poverty reduction, public sector performance, providing modern and integrated financial services and,economic planning and development," he said. "The office presence here in Malaysia will also provide opportunities for talented Malaysians through a programme which will have selected individuals from the public sector seconded to the World Bank Office. "This arrangement will indeed be mutually beneficial and enriching experience for all parties," he added. The Prime Minister also applauded the bank's continuous support of Malaysia's development agenda while recognising efforts made by the government. "We look forward to working closely with the World Bank Group to share our development experience and help achieve the twins goals of ending extreme poverty and promoting prosperity for all in the region and globally," he said. Present was Second Finance Minister Ahmad Husni Hanadzlah, International Trade and Industry Minister Mustapa Mohamed, Treasury Secretary-General Dr Mohd Irwan Serigar Abdullah, Bank Negara Malaysia Governor Dr Zeti Akhtar Aziz and World Bank Regional Vice-President for East-Asia and Pacific Axel van Trotsenburg. (photoBERNAMA) -- BERNAMA