Dr. Mahathir wants neighboring countries to adopt Malaysia shared prosperity philosophy

APEC Summit 2020
Prime Minister, Tun Dr. Mahathir Mohamad giving a speech at the Official Launch of APEC 2020 in Cyberjaya today (Dec.4).

CYBERJAYA: Malaysia will host the Asia Pacific Economic Cooperation (APEC) 2020 Summit for the second time after 1998 that will focus and emphasize on the shared prosperity philosophy for the 21 member countries.

Prime Minister, Tun Dr. Mahathir Mohamad said, the shared prosperity will enable all citizens to lead a decent living standard and this goes beyond the creation of jobs and development of human well-being.

“With that philosophy, a country could create a more inclusive economy, develop a more conducive environment for entrepreneurs including social entrepreneurs and hence contribute to the prosperity of the country.

“In the CEO Summit held in Bali previously I have mentioned about shared prosperity philosophy where economic prosperity of a country could be shared by the neighboring countries like what Malaysia has done these years,” he said in his speech at the launching of the APEC Summit 2020 near here today.

Dr.Mahathir said the Shared Prosperity Vision 2030 that Malaysia is adopting will create a more balanced, equitable and friendly economic growth in the country.

The Shared Prosperity Vision 2030 is aimed at increasing the incomes of all ethnic groups particularly the Bumiputera.

Tun Mahathir added, with the liberalization and fewer restrictions on trade policy that APEC has been upholding, Malaysia has managed to develop 70 percent of its manufacturing activities based on investments.

“Friendly trade and investments will create more job opportunities and thus bring prosperity to the people,” he reiterated.

Dr. Mahathir also hopes APEC that has been established since 30 years ago will continue to be a relevant forum and keeping up with time

The seventh Prime Minister of Malaysia also hopes the APEC 2019 Summit will go beyond the Bogor Goals, one of APEC’s flagship initiatives.

The Bogor Goals were adopted and announced by APEC leaders who met in Bogor, Indonesia in 1994 and it was a long term goal of free and open trade and investment in the Asia Pacific and they set the deadline no later than the year 2020.

Dr. Mahathir also thanked Chile’s government and its people for the hard work they had put in to host the APEC 2019 Summit that was scheduled on 16th and 17th November but was canceled.

The Chile government in a statement announced the cancellation was due to the protests and riots that happened recently in the country.-Malaysia World News (MWN)


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