WIEF 2016 to see more collaborative initiatives

Prime Minister Datuk Seri Najib Tun Razak today expressed his confidence that this year's 12th World Islamic Economic Forum (WIEF) will see more collaborative initiatives to empower businesses and drive equitable wealth creation.

He said the WIEF has been instrumental in connecting and collaborating with influencers of innovative ideas and practical solutions.

The prime minister also expressed his delight at the many initiatives being taken, including to develop talent, to support women in business, to promote the halal industry, to further develop Islamic finance and to encourage foreign direct investments.

He noted the Small and Medium Enterprises (SMEs) and the Micro, Small and Medium Enterprises (MSMEs) attending the forum are indeed the innovators and the driving engine of the economy.

"I do think there is more room for us at the leadership level to enable them to be more competitive, by providing easier access to capital and markets, and empowering their inherent business acumen so that together we can build a better nation for our people," Najib, who is also Finance Minister, said in a joint press statement released in conjunction with the forum.

"To realise this potential, I look forward to constructive feedback and engagement from the delegates at this forum to enable us to continuously review our policies and ensure that we remain supportive of inclusive growth and cross-border trade," he added.

The 12th WIEF aims to further explore the crucial role of SMEs and MSMEs in driving economic growth in economies around the world, in line with its theme of “Decentralising Growth, Empowering Future Business”.

Najib earlier today also shared his views on the Maqasid approach, which he said is about equitable growth and being forward-looking.

"It looks to facilitate the needs of the community and wealth sharing, while promoting transparency and accountability. I believe this approach is key in solving current issues across the various sectors," he added.

In concluding his statement, Najib said given what he has seen and heard so far, the 12th WIEF is off to a good start and on track to become a resounding success again.