Oleh/By : DATO' SERI DR. MAHATHIR BIN MOHAMAD
Tempat/Venue : TASHKENT ;
Tarikh/Date : 01/04/93
Tajuk/Title : BUSINESS LUNCHEON
Excellencies
Distinguished Guests
Ladies and Gentlemen,
I am pleased to be given this opportunity to address a
joint session of businessmen from Uzbekistan and Malaysia.
When I first visited Uzbekistan in 1987, I also brought
with me a group of leading businessmen from Malaysia. At
that time, trade and economic relations were conducted
through Moscow. Since then and especially with Uzbekistan's
inde pendence in 1991, businessmen from our two countries
have had the opportunity to have direct business contacts.
This is a very important first step in the development and
promotion of trade and economic cooperation between the two
countries. However, despite the many official and business
exchanges, very little business is conducted between our two
countries.
2.) Uzbekistan's economy is in transition to a market
economy. Given the current policies and programmes in Uzbe
kistan, and with the gradual integration of Uzbekistan into
the world economy, the situation will undoubtedly change.
These changes provide many promising opportunities.
3.)
foreign investments and to process your natural resources
are all to be expected. When Malaysia first achieved in
dependence some 35 years ago, our main exports were primary
commodities. Our manufacturing sector then accounted for
only about 13 per cent of GDP in 1970 and only 12 percent
of Malaysia's total exports. However, in 1992, the manu
facturing sector accounted for more than 29 percent of GDP
and about 69 percent of Malaysia's total exports.
4.) As we very soon realise in Malaysia, if we wish to
attract new foreign industrial investments into the private
sector,
happy with the investment environment. Like wise, if Uzbe
kistan is to attract
that existing investors
In Malaysia the relationships
privates ector and the conscious
listen to genuine private sector
existing private sector a positive force in our own
investment promotion efforts.
Ladies and gentlemen,
5. In Malaysia the private sector has been given a leading
role in economic development; in fact it is the engine of
growth. Since the early 1980's, a new concept of co
operation between the Government and the private sector was
introduced. The Government considers the private sector as
partners in the development of the nation. The Malaysia
Incorporated concept promotes the idea of the nation as a
big corporation in which everyone has to work to bring about
success and mutual benefit.
6.)
it the corner stone of its policy to make Malaysia a
developed nation by the year 2020. I am sure that the vast
experience gained by the Malaysian businessmen present
here today would be invaluable in Uzbekistan's efforts to
switch to a free market economy in the effort to rapidly
develop the country. I, therefore, wish to urge business
men from our two countries to share their experiences, to
learn and to help each other for the mutual benefit of our
two countries. This bilateral cooperation could be in the
form of trading and investment. I am aware that Uzbekistan
is one of the leading producers of cotton. You also have
silk, gold, fresh fruits and vegetables, leather and cotton
seed oil. In return Uzbekistan businessmen can use the
foreign exchange earned to buy consumer goods, such as
clothing, footwear, consumer electronics, furniture, telecom
munication equipment, medicaments, food and other raw
materials which your country needs. A bilateral payments
agreement between our central banks can also help reduce
the need for hard currency when trading with each other.
7. In addition to this, Uzbekistan businessmen in joint
venture with Malaysian businesmen can set up marketing
companie's in Malaysia to source quality products from
suppliers in the ASEAN countries and other East Asian
Nations at much cheaper prices than can be supplied from the
developed Western nations. Likewise a joint-venture supply
base can be set up in Uzbekistan to sell to customers in
countries bordering Uzbekistan thus creating a kind of
entrepot base in your country. Of course such marketing
arrangements can also help the export of Uzbekistan's
produce. All these are possibilities worthy of
consideration.
8. Malaysia also has certain expertise and technological
skills
kistan too has skills and technology which Malaysia may find
useful. Already Malaysian businessmen have been invited to
participate in
's in several South countries. These include the building
of low and medium cost housing, telecommunications, road
development and laying of pipelines, oil exploration and
production, free market financial managements, etc. These
will be significantly cost efficient as compared to the
high cost suppliers from the developed world.
9.) There are also opportunities for investment. Here I
would like to address the Malaysian businessmen in
particular to consider reverse investment possibilities
in Uzbekistan. During my talks with President Karimov, he
has assured me that his Government is ready to provide all
assistance and facilities for Malaysian businessmen to
invest in Uzbekistan. I also understand that Uzbekistan has
a fairly attractive and liberal foreign investment law which
provides guarantees which are normally sought by investors.
The Government has also identified several areas of joint
venture possibilities such as the blending of local cotton
seed oil and palm oil, assembling of telephones, assembling
or manufacturing of airconditioners, construction of tourism
facilities, joint investment bank, and exploration for oil.
10. The opportunities presented are, therefore, vast and it
is time we begin serious discussions, identify specific
projects and work towards implementing them. All we need is
one or two successful projects, which will then serve as a
catalyst for greater economic interaction.
11. I would like to end by calling on you who are present
here today, many of whom are captains of industry, to take
the opportunities presented to set your immediate goal, thus
bringing to fruition your discussions. Let us not let this
opportunity slip by.
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