Najib’s economic paradigm shift for a better Malaysia

Najib’s economic paradigm shift for a better Malaysia

Prime Minister Datuk Seri Najib Tun Razak has introduced a new paradigm shift for Malaysia in bolstering a stronger foreign policy and trade ties with three prominent countries.

His voyage to make Malaysia more reputable in international trade and have friendlier ties with the next generation super powers, embarked his journey to China last year November.

Malaysia and China have signed 14 Memorandums of Understanding (MOUs) related to the defence, economy, agriculture, education, finance and the construction sectors.

Prime Minister Najib Abdul Razak and his Chinese counterpart Li Keqiang witnessed the signing ceremonies of the MoUs.

The 14 business arrangements sealed between two countries were worth RM143.64 billion.

Then in February, King Salman Abdulaziz Al-Saud, the custodian of the two holy mosques, officially visited Malaysia.

Malaysian and Saudi Arabian companies signed seven Memorandums of Understanding (MoUs) worth RM9.74 billion in construction, oil and gas, halal industry, aerospace and haj services.

International Trade and Industry (MITI) Minister Datuk Seri Mustapa Mohamed said “As Saudi Arabia is moving away from its reliance on oil revenue, we encourage Saudi investors to explore the business potentials in new growth areas particularly advanced technological products.”

Even Malaysia has a strong presence in Saudi Arabia’s construction sector and so far 19 contracts worth RM18.5billion have been awarded to Malaysian companies.

Saudi Arabia’s national oil company has invested US$7 billion to set up an oil refinery in Malaysia’s Pengerang Integrated Petroleum Complex (PIPC).

The deal between Saudi Aramco and Petronas on showed “vote of confidence in our economy”, reiterated Prime Minister Najib.

And the latest bilateral ties are witnessed with India.

Malaysia and India have signed 31 business MoUs valued at a total of US$36bil, with Malaysia taking the major share at US$32bil of the projects.

To answer his critics, Najib said “This is an indication of the power of the economic relationship between Malaysia and India.”

Najib proved his leadership and trade skills.

According to Sabah’s UMNO man Datuk Basalie Abd Hamid, Prime Minister Najib’s leadership skills and trade acumen have shoved his detractors to the wrong end.

Basalie said the Opposition is only good at demeaning the good efforts done by Barisan Nasional under Prime Minister Najib’s stewardship.


Semporna UMNO legal advisor Datuk Basalie Abd Hamid

Amid the global economic uncertainty, the government is doing all its effort to juggle the national economic circumstances, putting the citizen’s interest first, said Basalie.

The Semporna UMNO legal advisor also added that Sabah UMNO is fully behind Najib’s leadership to continue support in promoting more international trade and bilateral ties that will help the country to move forward along the rapid economic development around the globe.