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Malaysia Can Emerge As Among Top 5 Most Competitive Nations

News From : DagangHalal.com (10 Jun 2010)

KUALA LUMPUR, June 10 (Bernama) — Malaysia can emerge as one of the top five most competitive nations in the world if hardwork and planning are to put in place, according to Malaysian Investment Development Authority (MIDA) director-general Datuk Jalilah Baba.

“It is a big challenge for us but I think we can achieve it if all the government departments and sectors of economy, state governments and local councils work together,” she said.

“Many areas needed to see tremendous improvement, particularly the cost of doing business and the environment,” she told reporters after Prime Minister Datuk Seri Najib Tun Razak tabled the 10th Malaysia Plan at Parliament here today.

Malaysia was recently ranked as the 10th most competitive nation in the World Competitiveness Report.

MIDA, Jalilah said, has to also ensure that investments coming into the country are of high quality and high value add.

“Foreign direct investment (FDI) will remain as a major source of investment as it opens up opportunities to be a part of the value chain,” she said.

Jalilah said FDI also provided vast opportunities for Bumiputera vendors to be part of the value chain as more quality investments were being encouraged, particularly in the services sector.

She said the diversification of export markets would also continue, targeting especially the Eastern European countries.

“We also have to go for niche products, such as the halal market,” she added.

— BERNAMA

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