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.
Essentially, we need to teach our young on how to learn and adapt, not how to work. I am confident that Malaysians as a whole are able to adapt to these changes, as we have proven on numerous times over the course of our short history. Conclusion Let me conclude. Malaysia has evolved significantly in the last 60 years. Our history has shown how Malaysia has been an economy that is able to adapt to an evolving environment. We welcome business, we provide an opportunity to profit, and we are pragmatic and agile in our policies to protect the interest of all. With more than a hundred years of history between us, Malaysia looks forward to a mutually beneficial relationship with both foreign and domestic investors alike. Thank you. 6/6  BIS central bankers' speeches