Lord Marland lauds Malaysians for investing in UK

Najib (second right) officiates at the topping out ceremony of Embassy Gardens in London. With him are (from left) Ballymore UK managing director John Mulryan, Eco World Ballymore Holdings chairman Tan Sri Liew Kee Sin and Lord Marland. - Bernamapix

LONDON: Malaysian investors are lauded for investing in the UK in its time of need and delivering on what had to be done, said Commonwealth Enterprise and Investment Council (CWEIC) chairman Lord Marland.

In his welcoming speech at the Malaysia-UK Investor Showcase here, he said doing business in the Commonwealth was 19 per cent cheaper as the economic activities were underpinned by the rule of law and transparency.

"The other important thing about doing business in the Commonwealth is that our activities are underpinned by the rule of law which I believe is strong in Malaysia and very strong here.

"It is up to us to create that framework and allow our two countries to trade within that transparency and within that rule of law, because then we feel confident and business will thrive," he said.

The event was attended by Prime Minister Datuk Seri Najib Tun Razak, Commonwealth secretary-general Patricia Scotland and UK Minister of State for Trade and Investment Lord Price.

Najib said he believed Malaysia and the UK have a strong foundation to forge ahead in the future while expressing hope that the latter would  remain in the European Union.

We hope that both countries would work together towards strengthening our relationship, he said.

Lord Price said having Malaysia and the UK united in a common cause in the Commonwealth is a wonderful example of partnership in action, noting how Malaysian investors have brought life to the redevelopment of Battersea.

He said bilateral trade between both countries rose 4.7 per cent from 2011 to 2014 with investments of RM3 billion and a relationship growing from strength to strength.

Scotland said the Commonwealth provides vast potential, with the bilateral links between Malaysia and the UK in both trade and investment bringing prosperity and progress.

She is looking forward to visiting Malaysia very soon, she said.

Najib, who is on a working visit to the UK from May 15 to 18, has a tight schedule, with several programmes lined up at Marlborough House, which is the Commonwealth secretariat, including a Bursa Malaysia private breakfast with fund managers and a courtesy call from Scotland.

He later attended the topping-out ceremony of the Legacy 1 project at Embassy Gardens.