Conducive atmosphere for RM1.4 trillion investment?

DAP National Deputy Chairman and MP for Kepong Dr Tan Seng Giaw calls on the Central Government to show its seriousness in promoting conducive atmopsphere for the agenda to attract RM1.4 trillion investments and to create 3.3 million jobs by 2020.

Prime Minister Datuk Seri Najib Tun Razak has to convince us that he is prepared to take firm action to make the agenda a sucess.

On 22.9.2010, Dr Tan comments on the statement by minister Datuk Idris Jala on the economic agenda the day before.

For months, the Prime Minister YAB Najib has ben talking about Malaysia becoming a high-income nation with various transformation programmes. On 21.9.2010, Datuk Idris announced the agenda of the Economic Transformation Programme (ETP), identifying 12 key sectors such as oil, gas and energy and the rivitalisation of Kuala Lumpur.

It seems that the Government attempts to raise the gross national income from US$188 billion in 2009 to US$523 billion by 2020. Malaysians are keeping an eye on the results.

Idris says,"If we continue on the current economic model, we risk getting caught in the middle-income trap and continue to lose out on talent necessary to support high-income economy."

There are many factors such as bureaucracy, corruption and ineficiency that affect our nation. The Government has yet to show its determination to overcome them.

The Government must take the lead to create a conducive atmosphere in all fields including goverment-linked companies (GLC) like Petronas and Sime Darby. They play an important part in our economy.

We continue to show our concern with the ways the Government deals with affirmative action. Investors are watching whether it has effective measures to prevent abuses. Would it be truly willing to implement the policy of merit and need?

Previous plans such as the last Malaysia Plan did not achieve the full objectives. Will the ETP agenda end up similarly?

Dr Tan Seng Giaw