Malaysia a gateway to ASEAN for Pak products

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The Acting High Commissioner of Malaysia Deddy Faisal says I urge both

Malaysian and Pakistani businesses, chambers and associations to have more

frequent interactions, besides leveraging on each other’s strength and capacity

DNA

MANDIBAHUDDIN: The Acting High Commissioner of Malaysia Deddy Faisal has

said Malaysia has always been an open trading nation and preferred investment

destination and will continue to remain so driven by our Unique Value Proposition

to investors.

The International Monetary Fund (IMF) is optimistic that Malaysia’s economy will

expand by 5.75 per cent this year, driven by pent-up domestic demand and

continued strong external demand. This is in line with the government's growth

projection of between 5.3 per cent and 6.3 per cent for 2022. Our economy

expanded by 3.1 per cent last year.

The Malaysian envoy expressed these views while speaking at the Mandi

Bahauddin Chamber of Commerce and Industry.

He further said, Malaysia’s financial sector remains resilient and that it was

encouraged by its reforms that focused on inclusion, economic transformation,

and a sustainable economy. This was clearly reflective of Prime Minister Datuk

Seri Ismail Sabri Yaakob's Keluarga Malaysia concept which focuses on inclusion,

togetherness and gratitude aimed at bringing the people together in helping the

He said Malaysia’s ongoing investment promotion efforts have successfully kept

us on the map of investors. We believe that it is crucial to keep our investment

policies relevant, resilient and responsive to the evolving ecosystem. Towards this

end, Malaysia is currently undertaking concerted efforts to review existing

policies and restructure our investment strategy to ensure that implementation of

high-impact projects can be expedited.

Guided by this aspiration, the Malaysian Ministry of International Trade and

Industry is spearheading a holistic reform of Malaysia’s investment agenda. This

new agenda will be premised on the National Investment Aspirations (NIA) which

will navigate Malaysia towards a regional investment hub with a view to

increasing economic complexity, creating high-value jobs, extending domestic

linkages, developing new and existing clusters, and improving inclusivity. ‘ Our

new investment strategies will provide the necessary impetus to pursue high-

technology and sustainable investments as well as to intensify innovation, striking

a balance between economic and environmental sustainability while reducing

dependency on foreign labour, in line with global benchmarks in environment,

social and governance’.

He called upon the business community of Pakistan to be the partner & catalyst

for reform, to drive sustainability and to contribute to their collective goal of

shared prosperity. Look at Malaysia as a gateway to the ASEAN market.

Furthermore, investors will be able to leverage into the opportunities opened up

by RCEP which provides a market of 3 billion people.

He added, Pakistan is, and remains an important economic partner for Malaysia.

This is demonstrated most prominently by our bilateral economic, trade and

investment relations, which continue to grow from strength to strength despite

the global challenges throughout the decades.

‘ I urge both Malaysian and Pakistani businesses, chambers and associations to

have more frequent interactions, besides leveraging on each other’s strength and

capacity. Let us work together to enrich the value of our investments. Let us

restart, recover, revitalise and reform towards greater economic resilience and

progress’.

I would like to record my sincere appreciation and gratitude to Mandi Bahauddin

Chamber of Commerce & Industry for inviting me to your beautiful city. I am

delighted to meet everyone, particularly to engage with prominent businessmen

of this city. It is a privilege to be here to speak to you at meeting to connect

Malaysia and Pakistani businesses as well as sharing with you Malaysia’s

economic updates.

Trade, at its very foundations, is about people connecting across the world. It is

about understanding each other and cooperating for the good of all nations and

our economies. The resilience of our trade relies on the depth of these global

connections, but these connections cannot only have trade at their core. 4. We

must have people connecting, across families, politics, education, tourism, work

and so many other walks-of-life to truly develop robust relationships between

nations. It is then, from these relationships based on broad way to connect, that

we can build robust, resilient trade for the prosperity of all, he concluded.