COME SEE US FIRST HAND, NAJIB TELLS AMERICAN COMPANIES

From Tham Choy Lin

WASHINGTON, April 15 (Bernama) -- After attending the Nuclear Security
Summit here, Prime Minister Najib Tun Razak is turning his attention
to bread and butter economics with the United States, for the rest of his
working visit to the country.

He began Wednesday by addressing a forum on the key pillars of cooperation
between Malaysia and the United States, telling his audience about the country's
newly launched New Economic Model (NEM) to puruse high income growth and restore
the appetite of investors.

"The best understanding, however, would be gained if you were to come to
Malaysia and find out first-hand, what actually is going on. I am
confident, you will be pleasantly surprised, at how different reality and
perceptions are," he said.

To illustrate how doing business with Malaysia had changed, Najib related
the story behind the RM1 billion (US$302 million) investment by Coca Cola to
build a new bottling plant in Malaysia.

"I was personaly involved in the discussions during the APEC Summit in
Singapore last year (November) and by March this year, the plant is in
construction. This is how fast and expeditious we can be," he said.

Najib also said there were still opportunities for bilateral investment and
trade to flourish, particularly in services, although both countries were unable
to conclude a free trade agreement (FTA) under the previous Bush administration.

Malaysia, he said, can be the hub for investment in green and energy
efficient technologies using its natural resources while in the services sector,
it was emerging as a strong leader in Islamic finance, tourism and
halal products.

"Malaysia will also take a serious look at strengthening its investment and
economic ties with the United States through the Trans-Pacific Partnership with
terms and modalities that are mutually beneficial," he added.

Trade between Malaysia and the United States stood at US$35 billion last
year, accounting for 11.1 per cent of total trade, while foreign direct
investments from it totalled US$300 million or 8.4 per cent of the total
received.

Najib, who had indicated that trade and investment are key components of
relations with Washington, said American corporations and investors would
benefit from a more conducive investment climate, increased liberalisation, a
higher quality workforce and efforts to facilitate the growth of promoted
industries.

Industries such as electrical and electronics and oil and gas which have
significant American participation would be given a further boost under the NEM.

Najib spent Wednesday afternoon having one-to-one meetings with Coca Cola
Chairman and Chief Executive Mukhtar Kent, Conoco Phillips President and Chief
Executive John A.Carrig, Motorola's President for Enterprise Mobility Solutions
Gene Delaney and Intel Corporation Vice President and General Manager Brian
M.Krzanich.

He then met with executive members of the U.S.-Asean Business Council and
U.S.Chamber of Commerce.

Also in the Prime Minister's delegation at the meetings were Ambassador to
the United States Jamaludin Jarjis, International Trade and Industry
Ministry Deputy Secretary General Dr Rebecca Fatima Sta Maria and
Jalilah Baba, Director General of the Malaysian Industrial Development Authority
(MIDA) that will soon be corporatised as the Malaysian Investment Development
Authority.

On Thursday, Najib is scheduled to have a breakfast meeting with Republican
Senator Kit Bond, an expert on Southeast Asia, at the U.S. Chamber of Commerce
followed by a trade and investment seminar there.

In the afternoon, he is slated to meet 12 venture capitalists and meet
World Bank President Robert Zoellick.

On Friday, Najib will be in New York for a roundtable with American
businessmen, organised by Goldman Sachs before wrapping up his week-long visit.

-- BERNAMA



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