PM: M`SIA READY TO FACE ECONOMIC SLOWDOWN

PUTRAJAYA, Feb 25 (Bernama) -- Malaysia is in a state of readiness to
face the global economic slowdown and will strive to avert protracted
unemployment, Prime Minister Abdullah Ahmad Badawi, said here Wednesday.

"Our experiences of past crises have put us in good stead and we are
prepared to act in a collective and coordinated fashion to minimise the impact
of the global economic downturn," he said at the launching of the 2008 annual
report of PEMUDAH, the special task force set up to facilitate business.

Also present was Chief Secretary to the Government, Mohd Sidek
Hassan, who is also PEMUDAH chairman.

"It may not be possible to avoid hardships or difficulties entirely but we
will certainly strive to avert protracted unemployment and suffering," he said.

Abdullah said the government was "doing its utmost to ensure that Malaysia
weathers its economic storms."

He said that the second stimulus package or mini-budget to be announced on
March 10 would be a comprehensive one that takes on board feedback from the
business community with major steps to facilitate commerce as well as ensure job
preservation.

In the face of these global economic chalenges, he said it was important
that Malaysia continues its drive to remain competitive.

To this end, he said that PEMUDAH would remain vital and relevant to the
business community and the people of Malaysia in the year ahead.

"During these trying times, we must continue to forge strong links between
the private and public sectors.

"Neither the government nor the business community will be able to achieve a
measure of success without the support and cooperation of others," he said.

-- BERNAMA