MUSLIM NATIONS MUST BRING BACK SPIRIT OF ENTREPRENEURSHIP, SAYS PRESIDENT SUSILO

KUALA LUMPUR, May 19 (Bernama) -- Muslim nations must know how to leverage
on their strength, create opportunities and bring back the spirit of
entrepreneurship in the Islamic world to attract investors and contribute to
global harmony, said Indonesian President Susilo Bambang Yudhoyono.

Susilo said that the recent global economic crisis was a loud wake up call
to Asian and Muslim states to address economic imbalances between and within its
nations.

"It turned out to be an opportunity for countries...with most countries now
compelled to work harder and achieve sustainable growth, as well as to
reform their financial infrastructure and develop more equitable and inclusive
processes in their banking and financial sectors," he said.

Susilo who arrived here Tuesday said this in his special address at the
Sixth World Islamic Economic Forum (WIEF) at the Kuala Lumpur Convention Centre
here. The three-day forum is organised by the WIEF Foundation.

Prime Minister Najib Tun Razak opened the annual conference which
brought together world and business leaders from the Muslim and non-Muslim
countries to meet and network.

Susilo said as Islam taught its Ummah to strive for the good of humankind
as a whole, Muslim nations now have the opportunity today to contribute to human
progress and enlightenment.

"More than before the world today is open to new ideas on how to deal with
the painful realities of our time. But no global framework can save humankind
from its own excesses if it is not founded on the right values...like values of
equitability, inclusiveness, compassion for the less fortunate, social justice
and the restraint of human greed," he said.

Susilo said these values, which were the basis of Islamic banking and
finance, were reasons why there was now a rise of these Islamic instruments in
the wake of the financial crisis.

Investor confidence was surging in the Sukuk (Islamic bonds) markets, for
example, he said, and Muslim nations now have the opportunity to achieve greater
economic growth for their countries.

This however, he said, was dependent on the Islamic world overcoming
impediments that made their economies unattractive to investors.

This mean ensuring their transportation and communications infrastructure
were maintained and efficient, raising a skilled and educated labour force, and
having trustworthy public and corporate officials.

The Indonesian president also invited investors to come to Indonesia to
exploit opportunities in industries like energy, food, infrastructure,
education, agriculture and many more.

"I also believe it is time that Muslims everywhere discover the age old
secret of progress - entrepreneurship. This is one of the most powerful forces
that will change the fate of the Ummah in 21st century. If every Islamic economy
can have entrepreneurs of five per cent of its population, the Islamic world
will experience enormous economic and social growth."

He said it was important for Muslim countries to build real and total
connectivity with each other, not only in terms of physical infrastructure, but
in terms of ideas and attitudes, and with goodwill and willingness to help one
another to face common challenges.

--BERNAMA