View Full Version : Whither Malaysia's NEP?

11-02-2006, 01:46 PM
Interesting full-page report in today's Spore Business Times (http://business-times.asia1.com.sg).

The paper's KL correspondent, S Jayasankaran, chaired a roundtable discussion in KL. The panelists:

Ramon Navaratnam
Zainal Aznam Yusoff
Ridzuan Halim
Tan Teng Boo
Fui K Soong

Very interesting views were expressed by the panelists. Samples:

Ramon Navaratnam: "The new policy should attempt to reduce inequality by targeting poverty eradication and Malay equity allocations may be better served by parceling them out to the trust agencies".

Zainal Aznam: "With things like our commitments to the WTO, I'd agree that it's more difficult for Malaysia to pursue NEP-type strategies. But it's not impossible, it just becomes more challenging".

Ridzuan Halim: "On globalisation, it seems to benefit the non-Malays more and that is because of the rise of China and India. It's a reality that the Malays must face, which is why it's vital they master English, even more than the non-Malays".

Tan Teng Boo: "We talk of Malay SMEs and Chinese SMEs but never about Malaysian SMEs. It's a brutally competitive world out there, we should be talking about Malaysian companies versus the rest but we don't".

Fui K Soong: "Is the NEP still relevant? I am not sure but politically it sends out the wrong message. It raises all sorts of fears and uneasiness which we don't need as the competition is out there (the world) and not within".

The whole report is worth reading in it's entirety. Much of what was expressed by the panelists is both relevant and thought-provoking, although certain parties could get upset by such blunt airing of opinions on the NEP. I hope that the PM's aides make it a point to see that he reads this, in full, for himself. Many foreign investors and fund managers are saying the same things, sometimes a whole lot less diplomatically!

11-02-2006, 02:53 PM
with the opening up of world economy,Malaysia which is considered export oriented will have no choice but to liberase the domestic economy.MOST local company will follow proton or they will face extinction.We have to humble ourself and not to talk big and start examine our quality and competency in ensuring we make correct and workable plan.

11-02-2006, 04:41 PM
Your point about the 9MP is interesting.

Tan Teng Boo, in the same roundtable discussion:

"We can go back to those days of 8 per cent growth with the right policies. It doesn't matter if the key industries are services, manufacturing or even agriculture, the main policies have to stress productivity, efficiency and competitiveness. Our growth now is nothing much. Given that the labour force is growing around 2 per cent, 5 per cent growth is really nothing to be proud about. And I feel that these five-year plans should be junked. It's outdated, archaic and only exists in command economies"(emphasis mine).

Yup, Tan is not going to be the flavour of the month, not with such "iconoclastic" views.

13-02-2006, 05:06 PM
Hi sirgalahad2010, the URL to the businesstimes website is not the right one. Can you please give the right one? Tq.

14-02-2006, 08:16 AM

It's the correct website address. Just rechecked it.

Happy reading!