MALAYSIANS must be receptive to new economic models in order to keep abreast with world economic development, MCA president Datuk Seri Dr Chua Soi Lek said.
He said traditional models were no longer able to meet demands of the ever-expanding market due to globalisation.
“Business must remain competitive all the while in order for it to excel,” he said, adding that the government would complement by simplifying and expediting the business registration process.
Cheers!: Ahmad Husni (centre), Dr Chua and Perak Chinese Assembly Hall president Tan Sri Chong Chin Shoong toasting at the PCAH dinner. As a result of that, Dr Chua said Malaysia was ranked 21 in the Global Competitiveness Report last year against 26 in 2009.
“The amount of FDI (foreign direct investment) in Malaysia last year was five times more than that of 2009,” he said at the Perak Chinese Assembly Hall’s (PCAH) 84th anniversary dinner in Ipoh.
Dr Chua said it was commendable that Malaysia was still able to secure FDI while the United States and the European Union were facing an escalating debt crisis.
He urged private corporations to spearhead the nation’s economic development to help the country achieve the 6% projected gross domestic product growth rate this year.
Second Finance Minister Datuk Seri Ahmad Husni Hanadzlah and Federation of Chinese Associations Malaysia (Hua Zong) president Tan Sri Pheng Yin Huah were also at the dinner.
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