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New plans to attract investment
March 23, 2003
PRIME Minister Datuk Seri Najib Razak is set to meet international money managers today to promote Malaysia as one of Asia's top investment destinations.
He will speak at the Credit Suisse Asian Investment Conference (AIC), a popular annual get-together for fund managers in Asia.
Najib is likely to speak about his plans to transform the economy, which he expects to expand at least six per cent this year, and highlight measures taken to improve its competitiveness.
Malaysia is recovering from its worst recession in more than a decade as the economy contracted 1.7 per cent last year because of a global downturn.
However, the economy has been forecast to rebound strongly this year.
Credit Suisse chief executive officer of Asia Pacific Kai Nargolwala said the conference was expecting a record attendance this year as investors navigated uncertain times.
"Economies and markets have begun the process of recovery since the last AIC, but a lot of open questions remain," he said in his welcome note to participants.
Najib, who arrived last night with wife Datin Seri Rosmah Mansor, has a packed schedule today. He will meet fund managers and Malaysian chief executive officers in the morning, before delivering a keynote luncheon address and a dialogue session with about 100 investors.
This will be followed by interviews with international media like the Wall Street Journal, Bloomberg and The South China Morning Post.
There will also be a meeting with Hong Kong's head of government, Donald Tsang, before he attends a dinner organised by CIMB Group Holdings and Credit Suisse.
Malaysian corporate captains who are due at the AIC include Khazanah Nasional managing director Tan Sri Azman Mokhtar, CIMB Group CEO Datuk Seri Nazir Razak, AirAsia CEO Datuk Seri Tony Fernandes, YTL Power executive director Datuk Yeoh Seok Hong, Sunway Holdings managing director Yau Kok Seng and Genting strategic investment head Datuk Justin Leong.
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