ID :
57462
Sat, 04/25/2009 - 17:30
Auther :
Shortlink :
https://oananews.org//node/57462
The shortlink copeid
M`SIAN PM TO ANNOUNCE FINANCIAL SECTOR LIBERALISATION MEASURES ON MONDAY
KUALA LUMPUR, April 25 (Bernama) -- Prime Minister Najib Tun
Razak will announce the much-anticipated liberalisation measures for the
financial sector on Monday.
This will be his second major announcement on the country's market
liberalisation plan following the measures announced for 27 sub-sectors in the
services industry on Wednesday.
The move to liberalise the services sector has been welcomed by the local
business community and foreign investors, who say it will create a conducive
business climate in the country and make the economy more competitive on the
world stage.
"Can you wait until Monday! I will make an announcement on the financial
sector," Najib told reporters after chairing his first United Malays National
Organization (Umno) Supreme Council meeting as president at the Putra World
Trade Centre here Friday.
UMNO is a right-wing party and Malaysia's largest political party; a
founding member of the National Front (Barisan Nasional-BN) coalition, which has
been Malaysia's ruling political party since independence.
Najib, who is also Finance Minister, said this when asked whether Malaysia
will consider increasing foreign ownership in banks.
He said the Umno Supreme Council meeting had taken into view the recent
changes announced by the government.
"I had explained the liberalisation policy and also the dissolvement of the
Ministry of Entrepreneur and Cooperative Development. It was an effort to
prevent redundancy in ministerial functions but the basic focus of the agency
will be continued," he said.
As for the liberalisation of the 27 services subsectors, he said it was not
a sudden move but it had been studied by the Ministry of International Trade and
Industry for two years and considered by the Economic Council.
"We were satisfied that the change was for good and would be accepted by all
groups including the Bumiputera community involved in the 27 subsectors," he
said.
Najib said the change was in synch with changes made by other Asean member
nations. He added that Malaysia was lagging in the opening of its services
sector.
-- BERNAMA
Razak will announce the much-anticipated liberalisation measures for the
financial sector on Monday.
This will be his second major announcement on the country's market
liberalisation plan following the measures announced for 27 sub-sectors in the
services industry on Wednesday.
The move to liberalise the services sector has been welcomed by the local
business community and foreign investors, who say it will create a conducive
business climate in the country and make the economy more competitive on the
world stage.
"Can you wait until Monday! I will make an announcement on the financial
sector," Najib told reporters after chairing his first United Malays National
Organization (Umno) Supreme Council meeting as president at the Putra World
Trade Centre here Friday.
UMNO is a right-wing party and Malaysia's largest political party; a
founding member of the National Front (Barisan Nasional-BN) coalition, which has
been Malaysia's ruling political party since independence.
Najib, who is also Finance Minister, said this when asked whether Malaysia
will consider increasing foreign ownership in banks.
He said the Umno Supreme Council meeting had taken into view the recent
changes announced by the government.
"I had explained the liberalisation policy and also the dissolvement of the
Ministry of Entrepreneur and Cooperative Development. It was an effort to
prevent redundancy in ministerial functions but the basic focus of the agency
will be continued," he said.
As for the liberalisation of the 27 services subsectors, he said it was not
a sudden move but it had been studied by the Ministry of International Trade and
Industry for two years and considered by the Economic Council.
"We were satisfied that the change was for good and would be accepted by all
groups including the Bumiputera community involved in the 27 subsectors," he
said.
Najib said the change was in synch with changes made by other Asean member
nations. He added that Malaysia was lagging in the opening of its services
sector.
-- BERNAMA
