ID :
35227
Fri, 12/12/2008 - 11:46
Auther :
Shortlink :
https://oananews.org//node/35227
The shortlink copeid
M'SIAN ENTERPRISES PLAY CRUCIAL ROLE IN SUPPORTING DOMESTIC ACTIVITIES
KUALA LUMPUR, Dec 11 (Bernama) -- Malaysian enterprises have a crucial role to play in supporting stronger domestic economic activities, Second Finance Minister Nor Mohamed Yakcop said Thursday.
He said in such an environment, the drivers for sustained economic growth
would have to come from a more robust domestic sources of economic
activities.
"With the current challenging business environment, we need to ensure that
we are better positioned to respond to these external challenges and minimise
the impact on the economy.
"While Malaysia has somewhat been insulated, with our gross domestic
product growing at a respectable rate of 4.7 percent in the third quarter, we are
mindful of the consequences on our real economy of a prolonged global economic
slowdown," he said at the Ernst & Young Enterpreneur of the Year Awards here
Thursday.
Nor Mohamed said the government was committed to ensuring that the domestic
environment remained conducive for a more vibrant private sector
initiatives.
"Towards this end, we continue to focus on maintaining liberal policies as
well as the provision of increasingly attractive investment incentives," he
said.
He said under the fiscal stimulus package, an investment fund of RM1.5
billion (US$0.42 billion) has been set up to provide grants, soft loans, and
equity funding to the private sector to finance high-impact projects in
strategic sectors.
Nor Mohamed said while the government would ensure a conducive business
environment for enterprises, entrepreneurs must seize these opportunities to
grow and prosper their businesses.
"In today's globalised business environment, to remain resilient to
withstand the economic cycle, businesses must strive to differentiate and move
up the value chain," he said.
Nor Mohamed encouraged businesses to tap the opportunities to broaden
beyond domestic borders to regional markets.
"While the Association of South-east Asian Nations remains a good source
for market and investment opportunities, local players should also intensify
their
marketing efforts into greater Asian market such as China and India, he
said.
"In addition, our strategy should increase focus on the Islamic markets,
particularly the Middle East," he said, adding that businesses should take
advantage of these region markets' growth.
He was confident that with the country's comparative advantages and strong
fundamentals, Malaysia would able to manage and ride the effects of the current
volatilities.
"Entrepreneurship is all about high performance, value creation and more
importantly, being resilient in the face of challenges," he said.
He said in such an environment, the drivers for sustained economic growth
would have to come from a more robust domestic sources of economic
activities.
"With the current challenging business environment, we need to ensure that
we are better positioned to respond to these external challenges and minimise
the impact on the economy.
"While Malaysia has somewhat been insulated, with our gross domestic
product growing at a respectable rate of 4.7 percent in the third quarter, we are
mindful of the consequences on our real economy of a prolonged global economic
slowdown," he said at the Ernst & Young Enterpreneur of the Year Awards here
Thursday.
Nor Mohamed said the government was committed to ensuring that the domestic
environment remained conducive for a more vibrant private sector
initiatives.
"Towards this end, we continue to focus on maintaining liberal policies as
well as the provision of increasingly attractive investment incentives," he
said.
He said under the fiscal stimulus package, an investment fund of RM1.5
billion (US$0.42 billion) has been set up to provide grants, soft loans, and
equity funding to the private sector to finance high-impact projects in
strategic sectors.
Nor Mohamed said while the government would ensure a conducive business
environment for enterprises, entrepreneurs must seize these opportunities to
grow and prosper their businesses.
"In today's globalised business environment, to remain resilient to
withstand the economic cycle, businesses must strive to differentiate and move
up the value chain," he said.
Nor Mohamed encouraged businesses to tap the opportunities to broaden
beyond domestic borders to regional markets.
"While the Association of South-east Asian Nations remains a good source
for market and investment opportunities, local players should also intensify
their
marketing efforts into greater Asian market such as China and India, he
said.
"In addition, our strategy should increase focus on the Islamic markets,
particularly the Middle East," he said, adding that businesses should take
advantage of these region markets' growth.
He was confident that with the country's comparative advantages and strong
fundamentals, Malaysia would able to manage and ride the effects of the current
volatilities.
"Entrepreneurship is all about high performance, value creation and more
importantly, being resilient in the face of challenges," he said.
