Malaysian Prime Minister Forecasts 6% or Higher GDP Growth Rate in 2008

Kuala Lumpur, Malaysia (ots/PRNewswire) -

- Badawi calls for renewed mandate to spur jobs and investment

Prime Minister Abdullah Badawi today predicted that Malaysia's
economic growth would be more than 6 percent in 2008, despite the
U.S. slowdown and uncertainty in the global economy.

Campaigning on the economic agenda which has dominated the
election so far, Mr. Badawi asked the Malaysian people to use their
votes to give him "a fresh mandate for future economic progress."

Malaysia's central bank last week announced a 7.3 percent surge
in GDP in the last quarter of 2007, with an annual rate growth of 6.3
percent for the full year, up from 5.9 percent for 2006.

During an interview Monday with CNBC Asia, Mr. Badawi said that
he expected Malaysia's strong economic performance to continue. "I am
confident that Malaysia will do better than 6 percent growth in
2008," Mr. Badawi said.

Mr. Badawi's interview on CNBC Asia's Squawk Box took place
against the backdrop of growing concerns about the impact of the
economic slowdown in the United States on the global economy, which
has impacted stock markets across the world in recent days.

The Malaysian Prime Minister said he believes that the strong and
growing economies in Malaysia and other Asian nations can offset and
temper the U.S. downturn.

"East Asia can be a catalyst for global economic growth this
year," Mr. Badawi said. "And in my country, Malaysia, with the rest
of the world facing a predicted slowdown, now is the time for proven
leadership on the economy," he added.

Malaysia is holding elections on March 8, and Mr. Badawi said he
is seeking a "fresh mandate" from the voters in order to move forward
with implementing projects in an ambitious program of economic
development, to create 2 million new jobs over the next five years
and to proceed apace with economic liberalization measures.

"This government is pro-business and pro-investment and we will
do what it takes to continue our success," the prime minister later
told supporters.

Since Mr. Badawi first won election as Prime Minister in 2004,
Malaysia has created five Special Economic Zones, known as
"development corridors" in order to attract foreign direct investment
and help the economy.

He told CNBC Asia that in the largest of these, the 2,200 square
kilometer Iskandar zone which borders Singapore, major international
investors such as General Electric and a consortium of Middle East
sovereign wealth funds from Abu Dhabi, Dubai and Kuwait, had poured
funds in. He also cited a recent investment in Malaysia by Richard
Branson's Virgin Group.

"These people are very careful with their money," he added, "and
they have confidence in our stable business environment and the
opportunities we offer." Last year foreign investment in
manufacturing and service sectors soared by 69 percent to a record
US$13.7 billion.

Mr. Badawi noted that sustaining this expanding growth will
require not only a stable climate for investment, but a government
with the experience needed to proceed on this course.

He told supporters, "The challenge of this election is to lock-in
economic stability and provide a fresh mandate for economic
progress."

ots Originaltext: BN2008 News
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Contact:
Chong Sin Woon of BN2008, +6019-382-8461,
campaignupdates@BN2008.org.my