Google has established its Center of Excellence in Cyberjaya. This centre would showcase a range of Google for Work products such as Google Apps for Work and Google Cloud Platform. Malaysia always subscribes to global best practice and standards. From national statistics to macroeconomic management, international organisations like the IMF and World Bank have long acknowledged Malaysia’s adherence to international best standards. A quick word on the impact of global standards on the real economy. Our adherence to international standards has extended to the quality of our products. From precision semiconductors to commodities, a wide array of Malaysia’s exports have gained international 4/6  BIS central bankers' speeches  recognition. A recent case in point is the palm oil industry, which also marks its 100th year of industrialisation this year. Since the introduction of the Roundtable Sustainable Palm Oil (RSPO) standards, our major palm oil players have redesigned their plantation strategies to comply with the strict RSPO standards. We have also gone a step further by introducing the Malaysian Sustainable Palm Oil (MSPO) certification to elevate the standards of smallholders. Malaysia’s economic and business policies are agile and pragmatic. Our world is increasingly fast-paced, with ever changing challenges. To remain competitive and relevant, policies must be agile and efficient. Malaysia’s policies have been flexible and pragmatic. Time and again, we have demonstrated the courage to take bold and unconventional measures to protect the economy and the interests of genuine investors.

The substantial increase in new equity investments, despite the effects of the global financial and economic crisis, demonstrates how favourable the Zambian investment climate is in attracting foreign investment. BIS central bankers’ speeches  1  Distinguished Guests, It is also encouraging to note that the Government’s diversification efforts are yielding favourable results. The survey findings show that the concentration of foreign direct investment in the mining sector is reducing as evidenced by the substantial FDI inflows to other sectors such as manufacturing, wholesale and retail trade, and the tourism sector in 2009. Evidence from South East Asia and the recent global financial and economic crises show that high volatility in foreign private capital if not properly monitored and managed, can induce financial and macro-economic instability. In light of this the results of the Foreign Private Investment and Investor Perception Survey are important and intended to assist the Government to effectively monitor and manage these flows. In addition, better information on investor perceptions will assist Government in designing policies and programmes that will help enhance Zambia’s favourable investment climate. Further, the results of the survey should prove useful to the private sector and other stakeholders as they highlight some concerns which Government should address as well as the overall business profitability and performance prospects of various sectors. The importance of timely and reliable information on capital flows in the design of appropriate policy responses by Government and thus enhancing macroeconomic stability can hardly be overemphasised.