Malaysia among top nations

KUALA LUMPUR: Umno has built Malaysia from one of the poorest countries at its independence to one of the most successful nations of the world, Datuk Seri Abdullah Ahmad Badawi said.

He said this showed that the party had done more than lead the Government for 52 years.

“When we gained independence, we were ranked among the poorest countries in the world. Now we are one of the most successful with an average growth rate of 6.3% per annum.

“We are also classified today as a high human development index nation. Our nominal per capita income is RM20,900 – a 26-fold increase from Merdeka,” he said.

The party president also told delegates that the government’s policy of encouraging private sector growth had resulted in total trade exceeding RM1tril for the first time early this year.

He said a positive balance of payment for 109 months had also been recorded.

The country’s foreign reserves, he added, currently stood at US$98.2bil (RM327bil) while the Kuala Lumpur Composite Index has reached historic heights, touching 1,413 points.

Malaysia acquired another feather in its cap when it was recognised by the World Economic Forum as the fifth most competitive country in Asia, he said.

“These achievements are the result of our willingness to work hard.

“With the commitment of party members and solid backing of the people, with the understanding of the public sector and in partnership with the private sector, I am confident that our competitiveness and productivity will continue to improve,” he said.

Abdullah said in the Islamic capital markets, Malaysia accounted for two-thirds of the world’s Islamic bonds amounting to US$47bil (RM156.5bil).

He said Malaysia had liberalised the Islamic finance sector to encourage the participation of foreign banking institutions, capital markets and takaful.

“We are also committed to becoming a world-class halal hub. The Government has been active in promoting the products and services of Halal Malaysia, while strengthening its halal certification,” he said.


The Star ,Friday November 9,2007

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