PETALING JAYA, Sept 23 (Bernama) -- The Government is mindful of the
fear over the new global recession, Prime Minister Datuk Seri Najib Tun
Razak said Friday.
"As you all know, Wall Street has been hit. So, we need to watch this
very carefully," he told a national conference themed "Making A High
Income Nation, A Reality," here.
In the pursuit of the country's long national agenda towards Vision
2020, it needs a benign external environment for the government and the
people to thrive and succeed, added Najib, who is also Finance Minister.
Najib said he introduced the Government Transformation Programme and the
Economic Transformation Programme to create an environment in Malaysia
where business could develop and thrive and allow sustainable economic
growth that would benefit all Malaysians.
"While many western nations struggled to drag themselves out of
recession and global experts continue to predict "gloom and doom" over
the past two years, our economy has grown very significantly," he said.
He said Malaysia's gross domestic product had increased by more than
seven per cent and foreign direct investment in the first half of this
year clinched US$7 billion, up 76 per cent in the same period last year,
which was itself a record-breaking year.
Najib said Bursa Malaysia has hit a record high six times between
January and September, a performance that is the envy of markets around
the world.
"Companies listed on the exchange have a total market capitalisation of
more than US$44 billion, up 15 per cent in 12 months," he added.
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