THE planned investments and expansion efforts of multinationals in Malaysia over the past year are reflective of the confidence the international community has in the country, said Prime Minister Najib Razak.

In addition, he said, institutions such as the World Bank, International Monetary Fund and many other respected global bodies had commended the government for its prudent management of the economy.

“They recognise that its (Malaysia’s) resilience and competitiveness have been built up, for the good of the Malaysian people,” he said at the launch of certified gold bars from Demi Idaman Sdn Bhd in Kuala Lumpur today.

Sultan of Selangor, Sultan Sharafuddin Idris Shah launched the event. Also present were Tengku Permaisuri of Selangor Tengku Permaisuri Norashikin, Raja Muda of Selangor Tengku Amir Shah,  Demi Idaman chairman, Salehuddin Saidin, prime minister’s wife Rosmah Mansor.

Najib said international companies and foreign capital were coming into the country at a pace never before seen.

“Saudi Aramco, the world’s largest oil company, and HSBC, one of the world’s largest banks, are among the major corporations that have announced they would invest billions in the country in the past year. 

“And many more multinationals are following suit, investing and building their presence in Malaysia,” Najib said.

The prime minister said with the continued development of industries in Malaysia, the government would continue to provide citizens with better and more fulfilled lives in the years to come.

The prime minister said the launch of the gold bar products was a significant milestone for Demi Idaman and the national gold industry as a whole.

“Indeed, it’s a reflection of the innovation and progress that has become a hallmark of Malaysia over the past decade,” said Najib, who also launched special gold coins bearing the image of the sultan of Selangor.

Najib said while the price of gold might fluctuate, the underlying confidence that individuals, financial institutions, central banks and even governments had in gold was unlikely to diminish anytime soon.

“This is why it’s important that we continue to encourage the growth of the industry in Malaysia,” he said.

The prime minister said that with the development of the first commercial gold refinery, Malaysia now had the ability to process gold, from smelting to refinement.

“For this, I would like to commend Demi Idaman which has played an instrumental role in the development of this industry in our country.

“They have been supported most ably in these efforts by the Malaysian Islamic Economic Development Fund (Yayasan Pembangunan Ekonomi Islam Malaysia) which, as part of the KL Gold 2014 programme that I was proud to launch, is playing a critical role in driving Muslim participation and empowerment in the gold industry,” he said. – Bernama, January 22, 2018.