(Speech at the opening of the Tasek Dalam DAP Branch, Ipoh on Sunday, 20th July 2008 at 12 noon)
The International Trade and Industry Minister, Tan Sri Muhyiddin Yassin said yesterday that his ministry will be looking into attracting investors who are pulling out from China because of high costs there.
Muhyiddin is being too optimistic when he should know that Malaysia has become even more uncompetitive in the past four-and-a-half months since the March 8 “political tsunami” because of the political weakness of the Prime Minister, Datuk Seri Abdullah Ahmad Badawi which has resulted in his failure to deliver his numerous long-overdue reform pledges.
This is one important reason why despite the Mid-Term Review of the Ninth Malaysia Plan, the Kuala Lumpur Composite Index (KLCI) on Friday plunged to its lowest level since the end of 2006!
After the recent general election, Abdullah had assured Malaysians that he had finally heard their voices and would begin to implement reforms to regain public confidence in his administration.
Nearly five months have passed and apart from rhetoric, very little has been delivered by Abdullah. Continue reading “Malaysia more uncompetitive since the March 8 “political tsunami””