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by BERNAMA/ pic by BERNAMA

NEW YORK – Prime Minister Tun Dr Mahathir Mohamad touted Malaysia’s business-friendly stance as he went about wooing American investors to the country on Thursday.

“In general, Malaysia is still the same Malaysia that once upon a time was very friendly with business people, a country that encouraged foreign direct investment and grew on the basis of such investment,” he said of the nation that he leads as prime minister for the second time, since May 2018.

“It’s the same although I am now no longer in the Barisan Nasional (BN) but the ideas are still coming a lot from me,” he said at a meeting with members of the United States-ASEAN Business Council and US Chamber of Commerce here.

Besides being business-friendly, he said that investors could expect a country that would be listening to the private sector.

On the sidelines of the 74th Session of the United Nations General Assembly (UNGA) in New York, Prime Minister Prayut Chan-o-cha expressed confidence Thailand will become a high-income nation in 17 years.

"By 2036, Thailand will become a high-income country with fairness, respect for basic human rights, and participation of all sectors of society," he said.

The premier made the remarks during a speech about Thailand's perspective on the evolving international landscape at the Asia Society in New York on Wednesday.

In his speech, Gen Prayut said he has laid the foundation for development over the past five years and moved the country forward under the leadership of an elected government.

Gen Prayut also said Southeast Asia -- which is a part of the United States' Indo-Pacific strategy -- is a region of opportunity.

"It has a high working-age population, above-average economic growth, and the region itself is manufacturing hub," he said.

AMERICAN investors are more inclined to set up shop in Vietnam than in the Philippines, as they find Hanoi the best investment destination in Southeast Asia due in large part to its fiscal incentives menu and regulatory policy on businesses, a former United States ambassador has said.

Michael W. Michalak, senior vice president and regional managing director of the US-Asean Business Council, said Vietnam is the most preferred investment site among Southeast Asian economies for American investors. The preference may be attributed to the country’s competitive incentives package, as well as to its management of investments, explained Michalak, who was former US ambassador to Vietnam.

Michalak said it also works to Vietnam’s advantage that it is enhancing its menu of incentives to net some of the investments flying out of China in the face of its trade conflict with the US.

(New York City) – On the evening of September 26, the US-ASEAN Business Council (US-ABC) and the U.S. Chamber of Commerce were pleased to host His Excellency Dr. Mahathir Bin Mohamad, Prime Minister of Malaysia on the sidelines of the 74th UN General Assembly (UNGA) in New York.  The occasion marked Prime Minister Mahathir's second engagement with the US-ABC and U.S. Chamber of Commerce around the UNGA since his reelection last year. 

Prime Minister Mahathir met U.S. business leaders, members of the US-ABC and U.S. Chamber of Commerce, for a roundtable discussion. Business leaders were able to hear about the Government of Malaysia’s plans for further implementing its political and economic reform agenda in the second year of the Pakatan Harapan coalition’s leadership of the country. Discussion centered on the Malaysian government’s focus on strengthening’s the country’s economic fundamentals, increasing productivity and ensuring sustainable and inclusive growth.