The global and financial environment of the past two years has been extremely challenging. The swift, strong and coordinated policy responses around the world had helped to restore stability and the much feared deep recession seems to have been averted. The challenge now is to ensure that the recovery momentum can be broadened and sustained.

Going forward, the global financial crisis has set in motion a transformation process for the new world. Asia is emerging as one of the most vibrant regions and will increasingly play a critical role in determining the shape of the future global economic landscape. In this regard, Malaysia must position itself to seize the emerging business opportunities in order to benefit from the growing economic integration and dynamism in Asia.

While the level of competition will intensify within Asia, the challenge for Malaysian entrepreneurs will be to identify areas of comparative advantage and fully leverage on the complementarities that these emerging economies will present. In this regard, niche growth segments especially in the services sector, broadband and green technology amongst others, will present new sources of business opportunities. These opportunities can, in turn, be strategised to enhance our economic linkages with the emerging economies of the South.

We are pleased to note that our economy had registered two consecutive quarters of quarter-on-quarter growth, growing by 4.8% and 5.7% in the 2nd and 3rd quarter respectively. The 4th quarter Gross Domestic Product (GDP) is positive and recovery is expected to gather strength in 2010. This augurs well for the future as we strive to complement our Government’s efforts in our economic recovery process.

As the year comes to a close, I wish to express MASSA’s gratitude to our Government and members for their continuing support of our activities and initiatives.

To all MASSA members and Executive Committee members, I thank you for your valuable participation and contribution to the Association and wish you and your families “Season’s Greetings” and a “Happy and Successful 2010”!

TAN SRI DATO’ AZMAN HASHIM
President