Revival of Malaysia Inc. to Help Stimulate Growth
Malaysia’s PM to Reintroduce Malaysia Inc. Concept
Malaysia Inc., a concept which was first introduced by Prime Minister Mahathir Mohamad, will be revived with the aim to make Malaysia regarded as one massive corporation that both government and private sector will work to ensure its success.
Tun Dr Mahathir said this at a speech during the 72nd annual general meeting of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM). The Malaysia Inc. concept was first introduced by Dr Mahathir during his first tenure as Prime Minister between 1981 and 2003.
Economic Growth
Malaysia Inc. is a concept which is based upon the firm belief that economic growth and overall development of the country can be facilitated through strong collaboration between both the public and private sectors who will work as one towards achieving this concept.
Dr Mahathir said that reviving Malaysia Inc. will be something that the government will implement sometime in the near future, as the country is still recovering and it will take time to achieve a complete reversal of what happened during the previous administration. However, Dr Mahathir assured that the government is determined to revive this concept, and that they will be needing the feedback from the business community to ensure that any revision carried out from here on out will be for the good of the country and the business community.
Rebuilding The Nation
Dr Mahathir then went on to say that the government is in the process of being rebuilt, and many things have been destroyed in the process. Rebuilding the nation will be a task which is both time-consuming and difficult, and running the government during these initial rebuilding stages will prove to be a challenge. Dr Mahathir hopes that time will be given to the government to correct this mistakes.
Dr Mahathir also praised the business community for its efforts towards helping the country achieve its continued development. The business community is and will be the greatest contributor towards enriching Malaysia, and ACCCIM has already taken positive steps towards this goal by expanding to cooperate with other chambers which include the Indian, Malay and international business chambers as well.
Business-Friendly Nation
In his speech, Dr Mahathir also gave the assurance that the country will continue to be a business-friendly nation, and in a bid to attract more foreign and domestic investment into the country, Malaysia will not be a corrupt nation anymore.
The aim of the new government is to enhance anti-corruption practices to ensure that Malaysia’s business environment remains one that plays fairly, and Dr Mahathir emphasized that the nation wants a clean government, as does everyone else. He then went on to add that Malaysia is a trade-dependent country, and should never reject foreign direct investments into the country.
Malaysia needs foreign direct investment continually if the country is going to continue to compete with the rest of the world, because there will always be new inventions and products that the country has no knowledge of, added Dr Mahathir.
