Oleh/By : DATO SERI DR MAHATHIR BIN MOHAMAD
Tempat/Venue : GENTING HIGHLANDS
Tarikh/Date : 11-11-2001
Tajuk/Title : THE 4TH WORLD FUI CHIU
COMMUNITY CONVENTION
Versi : ENGLISH
Penyampai : PM
I wish to thank the organisers, the Malaysian Fui Chiu
Association for inviting me to officiate at the Forth
World Fui Chiu Community Convention today.
2. The overseas Fui Chiu community is well-known for
its traditional values of industriousness, pioneering
spirit, entrepreneurial skills, business acumen and
perseverance in adversity. This gathering of the World
Fui Chiu community is testimony to this fact and
symbolic of the success of the community in forging
enduring business and social relationships across
continents.
3. These traditional values, that have served the Fui
Chiu community in various parts of the world in good
stead for more than a century, continue to be relevant
in today's global economy which recognises no
geographical borders.
4. The strong business relationship built over the
years between clansmen of the Fui Chiu community in
many parts of the world has resulted in a tight network
and facilitated greater international trade and
investment opportunities. The economic linkages that
have been established also provide channels to reap
mutual benefits among members.
5. The World Fui Chiu Community Convention represents
a particularly significant opportunity not only for
enhancing business and trade relationships, as the Fui
Chiu participants comprise nationals from many of
Malaysia's major and traditional trading partners but
also of increasing mutual understanding and creating
global brotherhood. I have been made to understand
that here today there are about 1,200 Fui Chiu
participants from 13 countries - US, Singapore, Taiwan,
Hong Kong, China, England, Thailand, Australia, Canada,
Brunei, Indonesia, Trinidad and Malaysia.
6. This convention provides an important avenue for
Fui Chiu clansmen from different countries to take
advantage of Malaysia's strong bilateral trade,
investment and business linkages in order to promote
exports, source imports, encourage investment cross-
flows and realise business transactions.
7. Opportunities in Malaysia are plentiful
particularly in the industrial and agricultural
sectors, resource-based sector, food industry as well
as in ICT in the Multimedia Super Corridor. In
addition, the export of services is becoming
increasingly significant for Malaysia and the priority
areas are in education and tourism. Franchising is
another area in which Malaysia has a lot to offer.
8. Various incentive packages have been put in place
to accelerate translation of these investment and
business opportunities into actual trade, investment
and business transactions and to promote Malaysia as an
investment destination.
9. These investment incentives include specific
equity guidelines that allow foreign majority holding
of up to 100 per cent without any export or equity
conditions being imposed. All applications received
for new as well as for expansion and diversification
projects before 31 December 2003 are exempted from both
equity and export conditions.
10. Total capital investment in the manufacturing
sector totalled USD 6.9 billion in 1998, USD 4.5
billion in 1999 and USD 8.8 billion in 2000.
11. Investors can also take advantage of Malaysia's
strategic location as a gateway for their expansion
into the surrounding ASEAN market, which has a
population of 513 million and a combined GDP of USD 750
billion. Malaysia is committed to the implementation
of the ASEAN Free Trade Area (AFTA) which will be
realised in the six original member countries
(Malaysia, Thailand, Singapore, Indonesia, Brunei and
the Philippines) by 1 January 2003. These six original
ASEAN members have agreed to eliminate duties on at
least 60 per cent of products by 2003.
12. The long-standing business and socio-cultural
relationship among Fui Chiu clansmen, each representing
the business interests of their own respective
countries, has added strategic importance with the
imminent entry of the People's Republic of China into
the World Trade Organisation.
13. The Fui Chiu international business network,
intimate knowledge of China's business ethics and
environment, familiarity with Chinese customs and work
practices, ease of communication as well as traditional
bonds of clansmanship are value-added factors that
provide the Fui Chiu community with the competitive
edge in facilitating access into China's vast market.
14. The Fui Chiu community should employ this
competitive edge to strengthen economic links and
realise business transactions between China and their
respective countries. They should endeavour to
strengthen and expand their ties beyond community
relationships into business alliances. This is a
challenge for the Fui Chiu community to bring benefits
of their China market to their respective countries.
15. The capacity and scope to further develop mutual
cooperation in trade, investment and business are
promising as china industrialises and develops
economically and gradually emerges as an important
regional and global player.
16. Malaysia has all along been very supportive of
China's application to join the WTO and believes that
china will assume a constructive role in the WTO.
Malaysia looks forward to the admission of China into
the WTO and will continue to extend cooperation in
facilitating China's full participation as a member.
17. The current economic slowdown and its global
contagion effect pose severe challenges to communities
and countries all over the world. Progress made, since
the East Asian crisis of 1997, in strengthening macro-
economic fundamentals as well as financial and banking
re-structuring, may now be de-railed or side-tracked.
Economies, instead, have to re-focus on economic
recovery and pro-growth measures.
18. In view of this, it is therefore important for the
business community to work together in collaboration
with the Government to boost business and consumer
confidence and to counter negative sentiments on the
economic downturn.
19. In this regard there must be concerted efforts to
strengthen government-business dialogues and feedback
and to continue with a pragmatic approach to ensure a
predictable and secure business environment and to
introduce measures which can stimulate global economic
recovery and growth.
20. Malaysia will continue to adopt liberal and market-
oriented policies and believes that all stakeholders
including business, labour and government should work
together to maintain a business-enabling environment
and expand world trade in overcoming the global
slowdown.
21. Malaysia recorded a strong economic performance
last year with a real GDP growth of 8.5 per cent
compared to 5.8 per cent in 1999. However, with the
slowdown in the US economy made worse by the September
11 attack, the Malaysian economy is now estimated to
grow by 1 per cent to 2 per cent in 2001.
22. To counter the impact of the slowdown, Malaysia
has responded with a series of stimulus packages aimed
at invigorating domestic demand and checking further
slide in the Malaysian economy. A sum of USD 1.13
billion was introduced in early October 2001 on top of
the USD 800 million announced in March 2001 and new
incentives were also introduced in the 2002 Budget.
23. These stimulus packages introduced were aimed at
generating economic activities and providing maximum
spin-off effects as well as ensuring a fair and wide
distribution of benefits to a large segment of the
population.
24. It is hoped that with all these interventions we
will be able to reduce the negative impact of the US
economic slowdown. This convention will, hopefully, be
able to discuss measures that can overcome some of the
problems faced by business communities. A global
challenge definitely needs a collective response.
25. On that note, I have great pleasure to declare
open the Fourth World Fui Chiu Community Convention.
Sumber : Pejabat Perdana Menteri
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