ID :
28209
Mon, 11/03/2008 - 16:41
Auther :
Shortlink :
https://oananews.org//node/28209
The shortlink copeid
PM ASKS PEOPLE TO HAVE CONFIDENCE IN COUNTRY'S CAPACITY TO FACE CHALLENGES
PUTRAJAYA, Nov 3 (Bernama) -- Prime Minister Abdullah Ahmad Badawi Sunday urged the people to have confidence in the country's capacity to face the challenges brought on by the current global financial turmoil.
He said it could not be denied that the country cannot escape the impact of
the crisis but that did not mean the people must allow themselves to get carried
away by fear and worry.
"All of this started with the financial crisis in the United States and now
the United States and Europe are in a recession, which is a cause for worry
because ours is an open economy.
"We have economic links with other countries and more so with the United
States and Europe," he said in his address at the monthly assembly of the Prime
Minister's Department, here. Deputy Prime Minister Datuk Seri Najib Tun Razak
was also present at the event.
"All of this originated from them, but we have to look at ourselves. We do
not have to be carried away by fear and worry. We must have confidence, the
confidence to face the challenges," Abdullah said.
Abdullah said that in the wake of the financial and banking crises of the
United States having a negative effect on other regions such as Europe, the
people should be thankful that the country's banking industry was still strong
in terms of capital and liquidity.
"We are also strong in terms of our reserves, which can sustain at the
moment. We still have strength in terms of domestic consumption, and our savings
are high," he said.
Abdullah said he wanted banks to be prepared to provide reasonable loans to
enable national development to continue unabated for the implementation of
important projects and to give domestic investments a boost.
"All these will take place if there is confidence," he said, adding that
the
people must be convinced that whatever they implemented would be successful.
Abdullah said the Malaysian currency was stable and not volatile so as to
cause worry, and the country had developing sectors such as tourism, Islamic
banking, biotechnology and ICT.
Abdullah also said that Najib, who is also the finance minister, would
announce in parliament tomorrow several measures the government would take to
face the effects of the global financial turmoil.
"These (measures) will give us confidence to face the challenges and
convince us that we have the capacity and capability to at least shield our
economy from the undesirable effects.
"We must lessen the impact of the undesirable effects by encouraging
investment and focusing on the developing sectors which can be given a boost for
expansion, even if it's just a little," he said.
Abdullah said civil servants should convince investors that they would face
no difficulty when investing in the country, particularly in terms of
bureaucratic red tape, because this would ensure that the country remained their
preferred choice for investment.
-- BERNAMA
He said it could not be denied that the country cannot escape the impact of
the crisis but that did not mean the people must allow themselves to get carried
away by fear and worry.
"All of this started with the financial crisis in the United States and now
the United States and Europe are in a recession, which is a cause for worry
because ours is an open economy.
"We have economic links with other countries and more so with the United
States and Europe," he said in his address at the monthly assembly of the Prime
Minister's Department, here. Deputy Prime Minister Datuk Seri Najib Tun Razak
was also present at the event.
"All of this originated from them, but we have to look at ourselves. We do
not have to be carried away by fear and worry. We must have confidence, the
confidence to face the challenges," Abdullah said.
Abdullah said that in the wake of the financial and banking crises of the
United States having a negative effect on other regions such as Europe, the
people should be thankful that the country's banking industry was still strong
in terms of capital and liquidity.
"We are also strong in terms of our reserves, which can sustain at the
moment. We still have strength in terms of domestic consumption, and our savings
are high," he said.
Abdullah said he wanted banks to be prepared to provide reasonable loans to
enable national development to continue unabated for the implementation of
important projects and to give domestic investments a boost.
"All these will take place if there is confidence," he said, adding that
the
people must be convinced that whatever they implemented would be successful.
Abdullah said the Malaysian currency was stable and not volatile so as to
cause worry, and the country had developing sectors such as tourism, Islamic
banking, biotechnology and ICT.
Abdullah also said that Najib, who is also the finance minister, would
announce in parliament tomorrow several measures the government would take to
face the effects of the global financial turmoil.
"These (measures) will give us confidence to face the challenges and
convince us that we have the capacity and capability to at least shield our
economy from the undesirable effects.
"We must lessen the impact of the undesirable effects by encouraging
investment and focusing on the developing sectors which can be given a boost for
expansion, even if it's just a little," he said.
Abdullah said civil servants should convince investors that they would face
no difficulty when investing in the country, particularly in terms of
bureaucratic red tape, because this would ensure that the country remained their
preferred choice for investment.
-- BERNAMA
