When Datuk Seri Najib Razak became Prime Minister last April, he announced that the government would introduce a new economic model for the country to ensure that Malaysia makes a quantum leap to escape the middle-income trap to become a high-income country through greater emphasis on innovation, creativity and competitiveness.
In May last year, the Second Finance Minister, Datuk Seri Ahmad Husni Hanadzlah said the new economic model would be announced in the second half of the year.
Time is clearly of the critical essence to launch a new economic model as Husni subsequently admitted in a very frank speech in December that the country had lost a decade in economic stagnation.
In actual fact, the World Bank had recommended that Malaysia adopt a new economic model three years ago, stressing that industrial countries are already aiming for economic model 3.0, and with competition at economic model 1.0 intensifying, striving to achieve economic model 2.0 is not an option for Malaysia but a necessity.
The question is why the World Bank’s advice that Malaysia migrate to a new economic model 2.0 was ignored for three years, losing more precious time for Malaysia to catch up in the international competitiveness race when the country had become a straggler as compared to other countries.
When the country achieved nationhood in 1957, Malaysia was the second most economically-advanced country in Asia after Japan.
Today, South Korea’s GDP per capita is US$16,450, Singapore US$34,346, Hong Kong US$29,559 while Malaysia is still at US$7,469 – with the disparity between Malaysia and these countries set to become wider in the coming years and even risking of being overtaken by countries like Thailand, Vietnam and even Indonesia!
The time-line for the announcement of the new economic model has been repeatedly deferred, from last year to the beginning of this year, then to this month to coincide with the completion of Najib as Prime Minister and now finally to June when the 10th Malaysia Plan will be presented to Parliament with the NEM to be revealed later this month for public feedback.
The disruption of the plan to announce the new economic model to commemorate Najib’s first year as Prime Minister is a setback for Najib’s 1Malaysia as well as a competitive and innovative new economic model and a success for the plethora of Neo-NEP Umnoputra NGOs and NGIs to whom have been outsourced the agenda of Umno’s NEP-putras.
Malaysians and the world are wondering what new economic model of greater innovation, creativity and competitiveness could be formulated by Najib against the backdrop of reactionary and extremist pressures with irresponsible and baseless alarms like “the Chinese community will take over the country in the next general elections” and that Article 153 of the Constitution would be trampled upon with Malay interests (when they mean Neo-NEP Umnoputra interests) sidelined.
It is also pertinent to ask how Najib could inspire confidence in the Malaysia 2.0 new economic model when he has done nothing in the past year as Prime Minister to stop the brain drain of Malaysia’s talents abroad or to achieve brain gain.
One of the specific proposals made by the World Bank three years ago for Malaysia to migrate to a new economic model Malaysia 2.0 was: “Engaging and attracting back talented, experienced, wealthy and well-connected members of Malaysian diaspora”.
If Najib is incapable of checking Malaysia’s braindrain which had led to the emigration of two generations of the best and brightest overseas as to create a two-million-strong Malaysian diaspora in the world, how can the Prime Minister succeed in achieving “brain gain” or to reverse “brain drain” from the Malaysian diaspora?
It is not only non-Malays but more and more Malays have also joined the emigration trail.
I still remember the ambitious “brain gain” programme of the Eighth Malaysia Plan ten years ago to “reverse brain drain” to transform Malaysia into a K-economy and Information Society through a two-pronged strategy, viz:
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An annual “brain gain” of 5,000 “extraordinary world citizens of extraordinary talent” to “lure the best brains regardless of race or nationality, from Bangalore to California”; and
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Encourage 500 skilled Malaysians overseas every year to return home with their expertise from 2001.
This ambitious “brain gain” programme was an unmitigated failure – with Malaysia losing even more talents in the past decade.
Malaysia is not short of proposals for a new economic model Malaysia 2.0 but what is sorely lacking is the political will to implement them.
How can Najib ensure that the new economic model of Malaysia 2.0 to be announced by him will not fail because of the lack of political will to carry out far-reaching government transformation programmes including restoring national and international confidence in the key national institutions and the system of governance in Malaysia?
[Speech (7) by DAP Parliamentary Leader and MP for Ipoh Timor Lim Kit Siang in Dewan Rakyat on the Royal Address on Thursday, 18th March 2010]
Kit,
you becoming sound like Anwar , objecting anything and everything without any concrete proposal and suggestion on the road map . generation ” U” always want to go out , venture abroad unlike you guy ” X ” and “Y” ,happy with nasi lemak , tea tarik and kopitiam.
I think Najib should take heed. Already many political commentators are criticizing that he is no better than Pak Lah who always flip-flops on his decision. If he (Najib) is not ready, he should not keep changing the date on which the new economic model will be made public, otherwise people think he is a weak and indecisive Prime Minister.
not only the nem, the whole country has been hijacked by neo-nep umnoputras for years!
histroy will re-spit itself like parameswara days….
….when clowns gets rich enough and full of power and influence already ,,the next is to rule the world, if not get others do the work for them while their offsprings can shake legs forever…and ever …advocating a master and slave relationship in full enforcement.
arrogance and arrogance…game of the corrupt and greedy for a dynasty chain…at the expense of the uninformed.
well no more ….many have pass with distinction on the308 examinations….sorry not moe grading system.
How many has not woke up yet.
Mak Kut Teh backs Perkasa
I am afraid the so-called “New Economic Model” is no more than a mirrored image of the old NEP blended with some cosmetic dressing to conjure up a “look good picture” for the national economy.
I will keep saying it, the NEM is not new and worst its already dead before it starts. NEM fate the same as 1Malaysia – it never had a chance because Najib is just the wrong leader at this time in the country’s history. A child of the Mahathirism and NEP, he does not have what is needed.
The only way to get anything this difficult to do is to pass it through Supreme Council of UMNO first and the Cabinet before it can be launched. If Najib cannot convince those people, he might as well not start. Its a non-starter.
This thing was dead before it arrived because Najib is a screw up..simple as that..
Perkasa can cry and bitch all they one…
here is an answer for them….
go and learn
http://wangsamajuformalaysia.blogspot.com/2010/03/melayu-boleh.html
Dear Uncle Lim,
Don’t you think the ruling elites are in a big dilemma?Go forward also die. Don’t go forward also die.
Najib as PM have no choice but try to dismantle NEP in order to make M’sia competitive, however in doing do the elites sources of money might not flow so easily. If they don’t open up the economy the elites can continue plundering the country even thought the economy decline but the people will suffer most because of high costs and stagnant income. Most of them are very selfish and so long they line their pockets to hell with the people.They are the nation’s parasites and these are very difficult to rid off.
Anyway this PM voted by his ties and money politics rather then his ability to govern seems to be floundering. He is only good for rhetorics not for implementing policies good for the country. The NEP seems to be pitted against Mamak’s wishes and the PM is faltering.
In this corrupted party he can never carry out any reforms.
May God bless LKS and LGE, champions of the people.
chengho: “Kit, you becoming sound like Anwar , objecting anything and everything without any concrete proposal and suggestion on the road map . generation ‘U’ always want to go out , venture abroad unlike you guy ‘X’ and ‘Y’ ,happy with nasi lemak , tea tarik and kopitiam.”
When Umno-BN is beginning to think that Kit and Anwar are beginning to sound alike, that should be good news as this shows that Pakatan Rakyat leaders are on the same page.
Compare this to the present leadership tussle caused by disgruntled factions in MCA; EGM no confidence vote, lack-lustre & almost a non-event AGM and a renewed party election with supposedly retired old faces entering the fray.
Probably too much tea breaks with nasi lemak, teh tarik and kopi?
Oh those poor little tuans now toddling about the mansions of Tuan Rempit McBullys. They still dont realise that they would soon grow up to serve as foreign labourers and maids. Not being able to speak english well and without proper education, they could only serve in Indonesia. Elsewhere, their language disability and knowledge difficiency would be a real nuisance for supervisors and co-workers and a disadvantage even for low task jobs and manual work.
So come on the rest of us. Leave them alone. Just let them rot. Lets go for change.
Only political change can bring economic reforms, says Ku Li
http://www.themalaysianinsider.com/index.php/malaysia/57168-only-political-change-can-bring-economic-reforms-says-ku-li