MALAYSIA NEEDS TO BENCHMARK AND BE RATED TO BE COMPETITIVE

PETALING JAYA (Malaysia), June 9 (Bernama) -- Malaysia needs to benchmark
and be rated to become a competitive nation globally, says International Trade
and Industry Minister Mustapa Mohamed.

"Benchmarking and rating are important criteria. Going forward, we have to
accept the fact, that we have to benchmark and be rated.

"The challenge for Malaysia is to continue to do well and be competitive,"
Mustapa said in his keynote address at the opening of the 12th Malaysian Finance
Association (MFA) Conference, here Wednesday.

The three-day conference, which began Tuesday, is co-organised and
hosted by Taylor's Business School.

Mustapa also stressed that globalisation will embrace competition and
this would benefit Malaysia.

According to him, Malaysia is currently in the process of identifying more
services sectors to be liberalised.

Last year, he pointed out, the government had liberalised 27 services
sub-sectors.

"The services sector is important for the country's development and is a
growth engine. We have to open-up.

"One sector, for example, is education. Liberalisation has benefited
Malaysia and created employment opportunities," he explained.

He also highlighted that prudent financial management and spending is
important to achieve sustainable growth.

"It is important to ensure a good surplus and cash reserve for future
spending as well as improving the quality of life in Malaysia," Mustapa said.
-- BERNAMA

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