FURTHER LIBERALISATION MAY ATTRACT MORE BRITISH COMPANIES TO MALAYSIA

KUALA LUMPUR, May 19 (Bernama) -- More British companies will invest in
Malaysia once further liberalisation takes place in the economy, especially with
the New Economic Model (NEM), The Duke of York, Prince Andrew said Wednesday.

"We hope as the NEM is unveiled in greater detail, more British companies,
particularly in the services sector, can be persuaded that Malaysia has a lot to
offer and also a market they should consider seriously," he said.

The United Kingdom (UK), he added, would certainly like to see more
liberalisation in areas such as legal, financial services, share ownership,
distribution and logistics along with the recognition of professional
qualifications.

"I know that Prime Minister, Najib's (Tun Razak), government
has already made some solid progress on this (liberalisation)," he said in his
speech at the United Kingdom-Malaysia Partnership dialogue here, Wednesday.

Also present was the Regent of Perak, Raja Nazrin Shah and the Minister of
International Trade and Industry, Mustapa Mohamed.

Consequently, Prince Andrew also encouraged overseas companies to invest in
the UK, and praised Malaysian companies who already had a presence there.

Malaysian companies have a strong stake in the UK, including ownership or
large shareholdings in Wessex Water, Stanley Leisure, Laura Ashley, Crabtree and
Evelyn, Corus Hotel and Lotus Cars, among others.

"Some of these are what we consider to be quintessentially British brands,
but without Malaysian investment and involvement, they might fail to achieve
their full potential," he explained.

Prince Andrew, who is here as the UK's special representative for Trade nad
Investment, pointed at education as the "glue" that held both countries
together.

"We must continue to work hard to convince young Malaysians that studying
for a UK qualification can be a real asset," he said.

An issue high on the political agenda of both countries is to reduce
unemployment and dependence on foreign workers, as a skilled workforce can be a
key driver for economic development.

"As Malaysia continues to make a shift to a mixed service, industrial,
agrarian economy, skill set requirements will change. We can help meet this need
and we want to contribute," said Prince Andrew.

Both Malaysia and the UK need to work hard to take the relationship to
greater heights, he highlighted.

"Between us, we can ensure that the relationship remains vibrant and
relevant going forward," he noted.

Meanwhile, Mustapa in his speech said Malaysia and the UK can collaborate
and cooperate more in the services sector, especially finance, as the latter had
a huge expertise in it.

"Others sectors that both countries can collaborate in is, the Small and
Medium Enterprises sector and high technology," he added.

On another note, Mustapa hoped that British Airways will commence its
services to Kuala Lumpur and raise the relationship to a higher level.

-- BERNAMA