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July 13, 2008

Malaysian PM says economy is stable
Malaysia's economy is largely stable even though the country is faced with global crisis such as the increase in the prices of fuel and food, Datuk Seri Abdullah Ahmad Badawi was quoted be national news agency Bernama as saying.

"It's stable overall. Our trade sector... there is nothing to worry about. We continue to attract foreign investment and we are still a preferred investment destination," the prime minister said.

He said Malaysia's economy also received positive feedback from other countries, most recently during the Group of Eight Islamic Developing Countries (D8) Summit in Kuala Lumpur, last week.

"Our economic figures are positive. They know it," he told Bernama and RTM Radio in an interview at Sri Perdana, the prime minister's official residence, Saturday.

The D8 comprises Indonesia, Pakistan, Iran, Bangladesh, Egypt, Nigeria, Turkey and Malaysia.

Abdullah said the country's image was also intact, saying, "Those who view Malaysia objectively, it is still good. But those connected to (Datuk Seri) Anwar (Ibrahim), they would see things differently."

Asked on what would be among his priorities from now until the handing over of power to his deputy Datuk Seri Najib Tun Razak in June 2010, Abdullah said he wanted to see the development of five economic corridors be speeded up.

The five development corridors are the Iskandar Malaysia, Northern Corridor Economic Region, East Coast Economic Region, Sarawak Corridor of Renewable Energy and Sabah Development Corridor, all which would require a total investment of 840 billion ringgit.

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