NAJIB MAKES A STRONG PITCH IN NEW YORK FOR TRADE AND INVESTMENTS

By Manik Mehta


NEW YORK, Nov 25 (Bernama) -- Malaysian Prime Minister Najib Tun Razak, on
the second day of his visit to New York, made a strong pitch Monday for greater
trade with, and investments from, the United States.

Addressing a large gathering of US captains of industry and business at the
Four Seasons Hotel in the Big Apple -– the American businessmen also held
discussions with Malaysian entrepreneurs in the Prime Minister’s entourage -–
Najib emphasized the business-friendly environment in Malaysia where investors
were “welcomed with open arms”.

The meeting with corporate representatives and potential investors was
arranged by CIMB and the Credit Suisse First Boston. He met American bankers
and financiers during a luncheon jointly hosted by the Credit Suisse First
Boston, JP Morgan and the Barclays Bank. Subsequently, he also had meetings
with Gene Daley, the president of Motorola Enterprise Mobility Solutions, and
Steve Forbes, President of Forbes Inc.

Najib took pains to highlight the attractiveness of Malaysia as an
investment destination where money was not only safe but also yielded good
returns.

The US business community wanted to know more about the liberalization
efforts by Najib’s government in 27 sub-sectors in the services sector. “We will
study the efforts once we get a clear picture of what steps the government has
taken, and then assess the viability of making investments in Malaysia,” an east
coast based US entrepreneur told Bernama on the condition of anonymity because a
corporate decision would be made only after a thorough consultation within the
board of management.

Najib tried to read the pulse of the US economy which has passed through a
critical period and a massive recession which, many experts say, appears to be
over or nearing its end. Indeed, as many members of his entourage agreed, Najib
could not have found a better venue to feel the nation’s economic pulse than New
York which is, veritably, the heartbeat of the world’s financial activities.

Despite being mired in the worst economic crisis since World War II, the US
is still an attractive destination for Malaysian exports. The US is Malaysia’s
largest trading partner, with Malaysia ranking as the 16th largest trading
partner. Malaysia has also emerged as the largest trading partner of the US in
the ASEAN group. Two-way annual relations between the two amounted to some US$44
billion.

Later, at a dinner for the Malaysian community at the Metropolitan Club,
Najib
reiterated that the “Malaysian story” of success, including its reforms and
transformation, needed to be told to foreign investors. Malaysia would, if
necessary, institute further steps to make its capital market more attractive to
foreign fund managers.

“We are here (in the US) to connect. Other bigger countries (he was,
obviously,
referring to the current obsession in the American industry with China and
India) attract more attention but the Malaysia story is a good story which must
be told in a way in which it really is … that is telling the truth,” he said.

Najib also cautioned against complacency. “At the corporate lunch today, I
was told that we have done well in Malaysia but that we should continue to do
more and create opportunities. If you create opportunities you will attract
fund managers,” he explained.

Malaysia, he cautioned, could not stand still. “We have to move ahead.
China, India, Vietnam have emerged. Can you imagine Vietnam’s President telling
the US President at the recent APEC summit in Singapore that we have to meet and
work together?” he said.
People in Malaysia needed to change their mindset. People tend to become
addicted to their habits and do not change on their own. “We have to create a
system that will compel them to change,” he said.

There were good things in America and also “not so many good things”; the
same was also true of Malaysia. “However, we can benefit from America and
America can, likewise, benefit from Malaysia,” he added.

He appealed to the overseas diaspora of Malaysians, many of whom are in
positions of power, not to cut off their emotional and other links with
Malaysia. “We need your help for our progress and know your heart is in
Malaysia, regardless of whether you still hold the citizenship or not,” Najib
said amid a thundering applause from the attentive guests.

In the Q & A session that followed, Najib was asked questions about support
for overseas Malaysian associations and on repatriation of funds from sale of
property purchased by overseas Malaysians. He said that his government would
look into the question of providing support for overseas Malaysians, and made it
clear there were no restrictions on the repatriation of the proceeds from
property sales.

However, the most touching part came -– the “appropriate climax”, as one
guest put it -– when a deaf Malaysian, using sign language and helped by an
interpreter, conveyed his feelings on the lack of complete absence of
interpreters for people with disabilities in Malaysia. The Malaysian, who is an
artist, said that he was happy to be in the United States where people with
disability could live “almost normal lives” and carry out their professions.

Najib and his wife Rosmah Mansor were both “deeply moved” by the
deaf Malaysian’s story, and praised his tenacity and undying spirit to improve
his life.

In their after-dinner interaction with the community, Najib and
Rosmah were seen talking to the Malaysian who spoke in sign language and was
helped by his local interpreter.

-- BERNAMA