KUALA LUMPUR, Feb 6 — Putrajaya is now more open to global trade, said Prime Minister Datuk Seri Najib Razak in criticism of Tun Dr Mahathir Mohamad’s policies.
During his keynote address at the World Capital Markets Symposium here, Najib also said his administration was not one that acted out of vindictiveness or spite.
“It is true that Malaysia had a former leader who had a confrontational foreign policy, who acted out of anger and seemed unable to let go of old grievances.
“This government has been forging new bonds in the region and beyond, and has been strengthening ties with old friends, because this is what will improve the well-being of the people, not harping on past quarrels,” he said
Najib added that this was how his administration came to a win-win solution on the Points of Agreement on the Malayan Railway Land in Singapore, and the subsequent agreement between the two nations to develop the High Speed Rail Link.
He said that Malaysia is now working closely with Singapore in many business sectors, such as the Johor Baru-Singapore Rapid Transport System Link and real estate development such as Marina One — a joint project between Khazanah Nasional and Temasek Holdings, with a gross development value of RM32.5 billion.
“My government recognises that we live in a new era, one where the excesses of crony capitalism of a former era must remain in the past, and we are instituting a renewed focus on corporate governance, combined with strong economic oversight,” Najib said.
He said that Malaysia’s bustling economy has also been acknowledged by major multinationals such as HSBC, Huawei and Broadcom, which have invested heavily here.
“This is a tribute to the strong economic governance and constantly improving regulatory framework we have implemented, for we know that a business-friendly environment is one in which all Malaysians and investors will thrive,” Najib added.
