PM: Malaysia ready to face economic slowdown

KUALA LUMPUR. February 25. KAZINFORM Malaysia is ready to face the global economic slowdown and will strive to avert protracted unemployment, Malaysian Prime Minister Abdullah Ahmad Badawi said in Putrajaya, the administrative center of the country, on Wednesday.

"Our experiences in past crises have put us in a good stead and we are prepared to act in a collective and coordinated fashion to minimize the impact of the global economic downturn," he said when releasing the 2008 annual report of PEMUDAH, the special task force set up to facilitate business. "It may not be possible to avoid hardships or difficulties entirely but we will certainly strive to avert protracted unemployment and sufferings," he said. The second stimulus package or mini-budget to be announced on March 10 will be a comprehensive one that takes on board feedback from the business community with major steps to facilitate commerce as well as ensure ample jobs for the people, he said. In the face of these global economic challenges, it was important that Malaysia continues its drive to remain competitive, he said; Kazinform cites Xinhua. To this end, PEMUDAH will remain vital and relevant to the business community and the people in the years ahead, he said. "During these trying times, we must continue to forge strong links between the private and public sectors," he said, adding "neither the government nor the business community will be able to achieve a measure of success without the support and cooperation of others." Electronic payments have been facilitated and now 89 government agencies have started accepting on-line payments for 148 services, said Badawi. One-stop centers have been set up at the Small and Medium Industries Development Corporation (SMIDEC) to expedite business registrations, he said. The process of applying for expatriates and skilled workers for employment at the Immigration Department has been improved, the Prime Minister said. Besides pursuing more efficiency improvements, PEMUDAH will also contribute ideas in the review of some policies which impact businesses such as fair trade practices, foreign workers and government procurements, he added.