ID :
56126
Sat, 04/18/2009 - 12:46
Auther :
Shortlink :
https://oananews.org//node/56126
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HAVE SOCIO-POLITICAL STABILITY FOR ECONOMIC RECOVERY - DPM
SINGAPORE, April 18 (Bernama) -- Deputy Prime Minister Muhyiddin
Yassin said it was necessary to have social and political stability if an
economic recovery was to take place.
No one, according to him, would benefit even if the world's economic engines
recovered, when societies were in tatters.
"National socio-political stability is necessary for economic recovery to
take place. We cannot benefit even if the world's economic engines somehow
manage to re-start when our societies are in tatters," he said.
Muhyiddin said this when delivering a closing keynote address at the Second
Asean and Asia Forum titled 'Risks and Opportunities' organised by the
Singapore Institute of International Affairs (SIIA) here Friday.
Governance frameworks, including legislature, judiciary and civil service,
he said, must be capable and robust, as well as broadly inclusive and
democratically-based.
"There must be respect for the rights of individuals and fair and equal
treatment to the fullest extent possible," said the deputy prime minister.
On Asean, he said, its institutional architecture must be made relevant to
the changing times and strengthened, accordingly.
The regional grouping, as stressed by Muhyiddin, should continue to speak
with one united voice, not only on matters of national interest but also on
principle and conscience.
"With our newly-signed charter in hand, we have to be less a loose
collection of nation states and start to work with purpose and direction in the
post-crisis era," said Muhyiddin.
He said, the importance of proactive and decisive policy actions to restore
confidence, financial stability and the promotion of a sustainable economic
growth in the region should be stressed.
The committment by Asean member countries on Asean Economic Community by
2015 would enhance the competitiveness of the region that could lead to greater
economic growth, according to Muhyiddin.
On the global economic crisis, he said, the international economic and
financial system had shown itself to be prone to instability.
The need for reform in the financial system, said Muhyiddin, had been
recognised for some time, but little was done to deal with the root causes.
"When these countries run into trouble, as they regularly do, despite the
best advice and warnings, the world economy goes into a tailspin before
eventually recovering," he said.
-- BERNAMA
Yassin said it was necessary to have social and political stability if an
economic recovery was to take place.
No one, according to him, would benefit even if the world's economic engines
recovered, when societies were in tatters.
"National socio-political stability is necessary for economic recovery to
take place. We cannot benefit even if the world's economic engines somehow
manage to re-start when our societies are in tatters," he said.
Muhyiddin said this when delivering a closing keynote address at the Second
Asean and Asia Forum titled 'Risks and Opportunities' organised by the
Singapore Institute of International Affairs (SIIA) here Friday.
Governance frameworks, including legislature, judiciary and civil service,
he said, must be capable and robust, as well as broadly inclusive and
democratically-based.
"There must be respect for the rights of individuals and fair and equal
treatment to the fullest extent possible," said the deputy prime minister.
On Asean, he said, its institutional architecture must be made relevant to
the changing times and strengthened, accordingly.
The regional grouping, as stressed by Muhyiddin, should continue to speak
with one united voice, not only on matters of national interest but also on
principle and conscience.
"With our newly-signed charter in hand, we have to be less a loose
collection of nation states and start to work with purpose and direction in the
post-crisis era," said Muhyiddin.
He said, the importance of proactive and decisive policy actions to restore
confidence, financial stability and the promotion of a sustainable economic
growth in the region should be stressed.
The committment by Asean member countries on Asean Economic Community by
2015 would enhance the competitiveness of the region that could lead to greater
economic growth, according to Muhyiddin.
On the global economic crisis, he said, the international economic and
financial system had shown itself to be prone to instability.
The need for reform in the financial system, said Muhyiddin, had been
recognised for some time, but little was done to deal with the root causes.
"When these countries run into trouble, as they regularly do, despite the
best advice and warnings, the world economy goes into a tailspin before
eventually recovering," he said.
-- BERNAMA
