Business

Monday May 4, 2009

ADB keen to share Malaysia’s experience


THE Asian Development Bank (ADB) is keen to share Malaysia’s experience and expertise in helping member countries generate economic growth and well being of the people, Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah said.

He said the view was expressed by ADB president Haruhiko Kuroda during a meeting with him yesterday on the sidelines of the ongoing 42nd Annual Meeting of the Board of Governors of the ADB in Nusa Dua, Bali.

“We had a lengthy discussion on enhancing further cooperation between ADB and Malaysia, and also the private sector in Malaysia,” Husni said.

He said Malaysia would continue to support ADB for the benefit and prosperity of Asia and the Pacific region.

Malaysia has joined other ADB member countries in supporting the Fifth General Capital Increase to meet the capital requirements of ADB in assisting countries affected by the global economic crisis.

Husni, who led the Malaysian delegation to the meeting and also to the ASEAN+3, welcomed ADB’s proposal, saying that although Malaysia had been relatively successful in developing the nation, it still needed to learn from other countries.

Going forward, he said Malaysia was transforming its economy from mixed labour and capital intensive to value-added economy, and was introducing further economic liberalisation.

“Malaysia also wishes to strengthen its bilateral and multilateral cooperation, which is in line with our development philosophy of mutual benefit,” Husni said.

He said the ADB president also stated his desire to strengthen the relationship with Malaysia’s private sector through financing, which was very much welcomed as Malaysia saw a real need for ADB to enhance its support for private sector activities.

“This is especially so in areas that will directly help generate economic growth, create employment, increase income earning opportunities and encourage existing and new entrepreneurs.

“Continuous support to the private sector is also crucial in contributing towards economic liberalisation,” he said. — Bernama (See also B6)

In that respect, Husni hoped that more Malaysian companies would be given the opportunity to implement projects financed by ADB.

In 2008, ADB awarded contracts worth US$200mil to Malaysian companies in the form of goods, related services and civil works as well as consulting services compared with 2007, when Malaysian companies managed to get contracts worth US$111mil. — Bernama


For latest Bursa Malaysia indices, charts and other information click here

  • E-mail this story
  • Print this story