By Dr Chen Man Hin, DAP Life advisor
23 Feb 2013
Events have shown that the NEP is still enforced in the economic development of the economy – two faced NEP and NEM economic policy.
Soon after being Prime Minister, Najib launched his New Economic Model to stimulate development with the aim of achieving a high economy like that of the Asian Tigers of Singapore, S Korea, Hong Kong and Taiwan
To do this he had to get rid of the economic handicaps wrought by the New Economic Policy. It is on record that Najib announced on May 2nd 2009 that he would replace NEP with his New Economic Model (NEM).
It is now 2013, and the signs of a high economy are not encouraging. For Foreign Direct Investments (FDIs) of 2012 Malaysia scored 9 billion US dollars compared to Indonesia’s US$19 billion and Singapore US$130 billion. (World Bank figures)
Per capita income for Malaysia in 2012 was US$9500 million, compared to Hong Kong US$30 million, Singapore US$50 million and South Korea US$25 million. Can Malaysia reach a high income status of US$20million by 2020.
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