LANGKAWI: The success of the government in carrying out transformation programmes is the key in attracting foreign investments to Malaysia, said Prime Minister Datuk Seri Najib Razak.
He said the successful implementation of the National Transformation Programme (NTP) and the National Economic Transformation had earned the confidence of foreign investors and international rating agencies.
He said as a result, the International Monetary Fund (IMF) had placed Malaysia on the right track to achieve a developed nation status.
“IMF, in its report, has acknowledged that Malaysia is on the right track to achieve a high-income nation status and the World Bank has recognised that this country is progressing well following reforms and careful stewardship.
“Our efforts have also earned the recognition of the Pennsylvania University in the United States which listed Malaysia as one of the best countries for investment through its research last year,” he said at the opening of a new luxury hotel at Pantai Kok here, today.
Najib said another notable achievement included the investment by Groupe PSA, Europe’s second largest car manufacturer of the Peugeot and Citroen marques, to enter into a joint-venture with local firm NAZA Group to set up a manufacturing facility in Gurun, Kedah
He said the government had also recorded various success through NTP such as recording growth of National Gross Income by over 50 per cent, creation of 2.7 million jobs and maintaining low rates of unemployment, inflation and hardcore poverty.
“Two years ago, I came here to open the St Regis Langkawi and today, I am honoured to be invited to open another luxury hotel with an investment of RM360 million, which created over 350 new jobs.
“This is just another example of investment by premium brands in Langkawi and I wish to see more investments not only here but also elsewhere in the country,” he said.
Najib said the investment also reflected a high level of confidence among international brands in Malaysian economic stability and the success of Langkawi Tourism Blueprint.
“With 14 unique initiatives, the blueprint attracted 3.6 million travellers and RM11 billion worth of investments between 2011 and 2015, far exceeding our initial target of 3 million travellers and RM5 billion in investments.
“In 2016, Langkawi recorded the arrival of 3.6 million travellers and generated RM4.6 billion in revenues. In 2017, the island attracted 3.8 million travellers and we are confident that the number will continue to grow in the years to come,” he said.
Najib reiterated his commitment to spearheading efforts to transform Langkawi into a world-class island resort and that he had approved an allocation to build an aero-bridge as part of the upgrading works of Langkawi International Airport.
“This initiative is meant to attract more direct flights to Langkawi and in Barisan Nasional manifesto for the 14th General Election, we have pledged RM86.5 million to improve facilities at the jetty terminal and the Customs and Immigration Complex, as part of our long-term commitment to creating more jobs and uplifting the people’s living standards,” he said.