Mahinda, Nivard get updated on Malaysia’s financial success

The architect of Malaysia’s financial success, Tun Daim Zainuddin was in Sri Lanka for a short visit to meet President Mahinda Rajapakse and the Governor of the Central Bank.

Economist, businessman, politician and former Finance Minister of Malaysia from 1984 to 1991, and again in 1998 to 2001, Tun Daim Zainuddin says that he is glad to visit Sri Lanka at this time of its history when the current Government’s efforts to bring back normalcy to the country is gaining ground.

“There are very good signs after the local elections held in the east, and I always see opportunities. The first to move in always benefits the most, so that’s why I am here.”

Tun Daim Zainuddin who is here on the invitation of the Central Bank Governor Nivard Cabral says that he is investigating the possibility of investing in Sri Lanka and looking at banking, property and power sector.

“For Sri Lankan business it is the time for the strategic planning to suit the dynamics of the world economic equation especially as we see a sense of normalcy returning to the country.”

During his tenure as Finance Minister from 1986 to 1991, Daim had implemented four broad strategic structural reforms, namely the mobilization of the private sector, active external policies, the supportive role of the private sector and the rehabilitation of public enterprises. To this day, the tenets of his economic policies are held in high esteem and are continually pursued to either jump start or sustain the Malaysian economy.

Although technically out of the Malayasian Government, Daim is still perceived as a man to be reckoned with – an entity greater than the sum of his overt responsibilities when he was appointed Economic Advisor to the Government, Chairman of the Northern Growth Triangle, the Labuan Development Authority and the Langkawi development Authority and also the Treasurer of the United Malays National Organization (UMNO), the leading party in Malaysia’s ruling coalition, Barisan Nasional (National Front). He was also Malaysia’s representative to the East Asean Growth Area (EAGA).

Tun Daim Zainuddi says that he is happy to note that Malaysians are already investing in Sri Lanka and hopes they will see more opportunities in the Sri Lankan business.