… says the PM on Malaysia being ranked 6th among 189 economies according to World Bank Ease of Doing Business Report 2014
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THE PREMIER SIGNING ON THE PLAQUE...Besides Dato' Sri DiRaja Adnan; those seen on stage together with Dato' Sri Mohd Najib are, among others (from left to right) Dato' Sri Muhammad Safian; Dato' Wan Zulkiflee; Dr Martin; and, Tan Sri Shamsul Azhar.
THE INTEGRATED AROMA INGREDIENTS COMPLEX SITE, GEBENG INDUSTRIAL AREA, KUANTAN – “A sterling performance” – that is what said by the Prime Minister Dato’ Sri Mohd Najib Abdul Razak on Malaysia being ranked 6th among 189 economies in the world as stated in the World Bank Ease of Doing Business Report 2014.
Dato’ Sri Mohd Najib attributed the success to the many efforts taken by Malaysia including the introduction of the Economic Transformation Programme (ETP) that was based on 12 National Key Economic Areas (NKEAs).
At the apex of this ETP he added, was the notion of a private sector led economy; premised upon economic feasibility, efficiency and productivity; free from unnecessary Government interventions and encumbrances.
On the other hand, the Government continue to play an active facilitation role by putting in place encouraging pro-business policies and processes to encourage both domestic and foreign direct investments into Malaysia, he said.
“Hopefully we can do better in the years to come,” he said of the positive ranking, in his 19-minute speech at the ground breaking ceremony of this Integrated Aroma Ingredients Complex here, Thursday, April 10.
MOVING FORWARD
“Moving forward,” he added, “we are confident that private investment in Malaysia would continue to record healthy double-digit growth – 16.5 percent in the fourth quarter last year from 15.2 percent in the third quarter.”
The establishment of this RM1.5 billion Integrated Aroma Ingredient Complex he said, was the result of ETP’s focused approach, prioritizing policy support and investments in industries which Malaysia has competitive advantage and were aligned to the nation’s aspiration.
Thus, the Prime Minister lauded efforts taken by both Malaysia’s Petronas and German-based BASF, in investing that large some of money to the setting up of this complex.
“The investment demonstrates the strength of the partnership between BASF, the world’s leading chemical company, and Petronas, Malaysia’s national oil company.
“I believe this project, which features state-of-the-art German technology and innovation in producing speciality chemicals in the form of aroma ingredients at BASF Petronas Chemicals site; truly epitomize our strategy of a high income, knowledge-based industry,” he said.
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PAHANG TO ALSO BENEFIT
Furthermore, the Premier added that, when this complex comes on stream in the year 2016, it will position this Gebeng Industrial Area at the epicenter of Asia Pacific’s high-value speciality chemicals production.
This he said, will hopefully attract further investment including those in supporting industries that could generate numerous employment and business opportunities and, “this will undoubtedly benefit Malaysia in general and specifically the state of Pahang.”
Apart from the Pahang Menteri Besar, Dato’ Sri DiRaja Adnan Yaakob; those who were also present at this brief but meaningful ceremony were President and Group Chief Executive Officer of Petronas, Tan Sri Shamsul Azhar Abbas;
The Pahang State Assembly Speaker, Dato’ Ishak Mohamad; Pahang State Secretary, Dato’ Sri Muhammad Safian Ismail; Chairman of BASF Petronas Chemicals Sdn Bhd, Dato’ Wan Zulkiflee Wan Ariffin; and, Vice Chairman, Executive Board of Directors, BASF SE for Asia Pacific, Dr Martin Brudermuler. – Khabar