TRANSPARENT BUSINESS ENVIRONMENT KEY TO GROWTH, SAYS MALAYSIAN DPM

By Mikhail Raj Abdullah

PUTRAJAYA, June 18 (Bernama) -- Strong anti-bribery laws, engagement with
civil society and encouraging open communication are key ingredients for
countries to move up the economic value chain and achieve developed nation
status, Deputy Prime Minister Muhyiddin Yassin said Saturday.

Warning that the abuse of power could not be tolerated as evident by recent
events in the Middle East amid changing social expectations, he said that these
attributes were also vital to develop economic partnerships with influential
trading partners and raise a nation's individual per capita income.

"The key is to creating an open and competitive economy, as it's more likely
to generate higher income levels for citizens," he said when opening the
Malaysia-Africa Business Forum (MABF) here.

The MABF is being held prior to the Ninth Langkawi International Dialogue
which begins Sunday.

In addressing social expectations and promoting accountability, Muhyiddin
said the responsibility of countries was to embrace a vibrant, open, transparent
and non-discriminatory business environment that encouraged competition and fair
play built on honesty and integrity.


"While it's imperative that we continually redefine our strategies, building
partnerships and exchanging ideas and dialogue among ourselves are equally
important," he said.

He said that Malaysia and African states also had to confront with
conviction and confidence challenges brought on by a competitive business
landscape, rising costs and volatile world markets.

The deputy prime minister also suggested that African countries foster
regional integration, a move which would enable individual countries to enjoy a
diversified trade base for their imports and exports.

-- BERNAMA