World Economy

Razak Says Multinationals Confident of Malaysia Growth

Sultan Sharafuddin Idris Shah (C) at the inaugural ceremony.Sultan Sharafuddin Idris Shah (C) at the inaugural ceremony.

Planned investments and measures to enhance their presence taken by multinationals are reflective of the confidence the international community has shown in Malaysia over the past year, Prime Minister Najib Razak said.

In addition, he said, institutions such as the World Bank, International Monetary Fund and many other respected global bodies had commended the government’s prudent handling of the economy, Bernama reported.

“They recognize that its (Malaysia’s) resilience and competitiveness have been built up, for the good of the Malaysian people,” he said at the launch of Demi Idaman Sdn Bhd’s certified gold bars in Kuala Lumpur Monday by the Sultan of Selangor, Sultan Sharafuddin Idris Shah.

Najib underlined that international companies and foreign capital were coming into the country at a pace not seen before. “Saudi Aramco, the world’s largest oil company, and HSBC, one of the world’s largest banks, are among major corporations that announced their intentions to invest billions in the country over the past year.

“And many more multinationals are following suit, investing and building their presence in Malaysia,” Najib said.

The prime minister said with the continued development of industries within Malaysia’s own borders, the government would continue to provide citizens with better and more fulfilled lives in the years to come. He further said that the launch of the gold bar products was a significant milestone for Demi Idaman and the national gold industry as a whole.

“Indeed, it’s a reflection of the innovation and progress that has become a hallmark of Malaysia over the past decade,” said Najib, who also launched special gold coins depicting the image of the Sultan of Selangor.

Najib said while its price might fluctuate, the underlying confidence that individuals, financial institutions, central banks and even governments had in gold was unlikely to diminish anytime soon. “This is why it’s important that we continue to encourage the growth of the industry in Malaysia,” he said.

With the development of the first commercial gold refinery, Malaysia now had the ability to process gold from the smelting phase through to refinement, he said. “For this, I would like to recognize Demi Idaman which has played an instrumental role in the development of this industry in our country.

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