KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak said the Economic Transformation Programme now included business events as part of its plan to establish Malaysia as Asia’s business events hub.
He also said that business tourist arrivals would increase from 1.2 million to 2.9 million by the year 2020.
Najib conveyed this on Thursday at the seven-category International Dragon Awards 2013 (IDA 2013) in conjunction with the 17th Malaysia Chinese Life Insurance Congress at the Kuala Lumpur Convention Centre.
The event, which aims to honour insurance and financial services professionals in Asia, was organised by Taiwanese insurance association IMM International and was supported by the Malaysia Convention & Exhibition Bureau (MyCEB), an agency under the Tourism and Culture Ministry.
Malaysia’s envisioned growth into a high-income economy would raise demand for risk and savings-type insurance products, Najib added.
He told the audience that structural reforms and improved efficiencies in the insurance sector were under way, and urged local insurance industry players to consider the bigger picture in light of the sector’s challenges and priorities in the wider region.
He also pointed out that the sector in East Asian economies shared three common goals – sustaining growth and performance under challenging economic circumstances, strengthening economic transformation capacity and building resilience to withstand future shocks.
IDA 2013 was held to honour the global Chinese life insurance and financial services industry.
More than 5,000 delegates from China, Taiwan, Hong Kong, South Korea and Australia attended the four-day event, which ends tomorrow.
Najib said MyCEB was set up and tasked to attract the business segment to Malaysia.
He added that Malaysia was increasingly being recognised as a business destination offering great experiences to visitors.