KUALA LUMPUR: Collaboration with industry players and the private sector is crucial for Malaysia to regain its status as an "Asian Tiger", says Datuk Seri Fadillah Yusof (pic).

The Deputy Prime Minister said for Malaysia to lead the region's economy, industry players must continue to strive to stay ahead of the competition by conducting business activities more creatively and innovatively.

"We must work together to restore Malaysia as a nation that excels, not only politically but more importantly, in its economic standing, which will ultimately bring prosperity to our nation and well-being to our people.

"If we are not united in our actions, we will not be able to progress as a successful nation in the future. So, let us make Malaysia 'the new tiger',” he said at the Malaysia Industry Awards (Minda) 2024 here on Thursday (Aug 8)

The awards, organised for the second year by the Federation of Malaysian Business Associations (FMBA), recognised 36 outstanding entrepreneurs and companies for their achievements in building businesses that contribute to the country's economic growth.

Also present were Minister in the Prime Minister's Department (Federal Territories) Dr Zaliha Mustafa, Deputy Minister of Entrepreneur Development and Cooperatives Datuk R. Ramanan, and Senior Political Secretary to the Prime Minister Datuk Seri Shamsul Iskandar Md Akin.

Fadillah said that cooperation from all parties is also crucial to complement various efforts and the Madani government’s policies in restoring investor confidence in the strength of the nation's economy and financial stability.

He said the government has worked to ensure political stability by securing more than two-thirds support in Parliament and implementing new economic measures to strengthen the country's economic position.

"This demonstrates how investor confidence in Malaysia has been restored, further proving that our country is now an attractive destination in Asia.

"The policies have been implemented. Now, we must focus on our achievements in terms of implementation. The private sector must work hand in hand with the government to develop the nation so that we can achieve greater success in the future,” he said.- Bernama

https://www.thestar.com.my/news/nation/2024/08/08/malaysia039s-return-as-039asian-tiger039-hinges-on-industry-collaboration-says-fadillah