By BERNAMA

Planned investments and measures to enhance their presence taken by multinationals are reflective of the confidence the international community has shown in Malaysia over the past year, said Prime Minister (PM) Datuk Seri Mohd 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’s prudent handling 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 Demi Idaman Sdn Bhd’s certified gold bars in Kuala Lumpur yesterday by the Sultan of Selangor Sultan Sharafuddin Idris Shah.

Also present were Tengku Permaisuri Selangor Norashikin Abdul Rahman, Raja Muda Selangor Tengku Amir Shah, as well as the PM’s wife Datin Seri Rosmah Mansor.

Najib underlined that international companies and foreign capitals are coming into the country at a pace not seen before.

“Saudi Arabian Oil Co, the world’s largest oil company, and HSBC Holdings plc, one of the world’s largest banks, are among the major corporations that announced their intentions to invest billions in the country over the past year.

“And many more multinationals are following suit, investing and building their presence in Malaysia,” Najib said at the event — which was also attended by Demi Idaman chairman Datuk Salehuddin Saidin.

Najib said with the continued development of industries within Malaysia’s own borders, the government will continue to provide citizens with better and more fulfilled lives in the years to come.

He futher 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 depicting the image of the Sultan of Selangor.

Najib said while its price 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 PM said with the development of the first commercial gold refinery, Malaysia now has the ability to process gold from the smelting phase through to refinement.

“For this, I would like to recognise 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 am proud to launch, is playing a critical role in driving Muslim participation and empowerment in the gold industry,” he said.