At the same time, they must build their internal resilience, reduce wastage, promote efficiency and upgrade productivity.

'This is not the time for politicking or to score points politically. The general election is over. This is the time when we, as a nation, must come together and unite to face the grave external economic challenges.

'We shall be fair to all. National unity and justice for all are of paramount importance. This predictability, stability, pro-business and certainty in our system of governance must be maintained,' the deputy prime minister said.

Efforts should also be quickened to enhance national competitiveness, he said in his keynote address at the opening of the Malaysian Capital Market Summit organised by the Asian Strategy and Leadership Institute (Asli).

'We have built prosperity for Malaysia and Malaysians because we have a government which is stable, united, liberal and pro-business,' he said.

Mr Najib, who is also Finance Minister, said that going forward, Malaysia needed to remain vigilant to new global and regional developments.

'History has shown that bear markets come and go, no matter how bad the situations may appear. Eventually the bear dies and a new bull is born. So to investors, don't be despondent with the market and plan your investment strategy well,' he said.

Mr Najib also gave the assurance that the government would do whatever possible to ensure that confidence in the Malaysian market remained high, backed by strong economic fundamentals.

The summit, themed 'Coping with the Global Financial Turmoil, Restoring Investor Confidence', will provide participants with in-depth analysis, up-to-date information and valuable knowledge on the global market crisis and what to expect next year. -- BERNAMA