Saturday, March 24, 2007

What Is Barisan Nasional Without The NEP? Zilch.

In its biggest and boldest move to attract more foreign investment, Malaysia is scrapping, in Johor's new economic zone at least, policies that have favoured bumiputeras — the ethnic Malay majority — since the 1970s.

While the details have yet to be spelt out, foreign investors in Johor's Iskandar Development Region (IDR) will not be encumbered with providing 30 per cent equity to a bumiputera partner. The move is aimed at creating a new engine of growth in Johor's southern part so that over the next five to 20 years, it will grow into a major regional financial and manufacturing hub, providing jobs for 800,000 workers. Separately, the Government is abolishing property gains tax in Malaysia to boost the flagging property market and lure foreign investment.

While lauded in the early years, the pro-bumiputera policies — which seek to raise the Malay share of the economic pie to 30 per cent — have since been criticised for having been abused. Hence, analysts say their abolition in the IDR is a crucial step forward towards attracting foreign investment.

Development of the vast 2,200 sq km IDR, more than three times the size of Singapore — and packed with infrastructure, homes, offices, theme parks, hotels, factories and hospitals — will require a massive injection of funds. Estimates are 50 billion ringgit ($20 billion) over the next five years, rising to $160 billion over 20 years. (Continue reading the rest of the report from Channel Newsasia HERE.)

***** Imagine how desperate the government must be that it is willing to exempt the IDR from the choking iron grip of the blatantly racist Never Ending Policy (NEP). Standing alone in the comity of civilized nations as the practitioner of unparalleled injustice and unfairness, it seems that the time has come for the Barisan Nasional to rein in populist policies which serve half the citizens while condemning the other half to continous misery and anger.

But I have great doubts if this 'rolling back' on apartheid-style policies will ever fully take place. The NEP is the life blood of the Umno politician, which keeps him alive and gives reason and cover for his existence in all his varied forms; selective benefactor, corrupt leader, manipulator of race and religion, wealth and power hungry greed merchant and benign-faced plunderer of and traitor to the nation.

But you don't have to believe me, for this is only a blog you see, and an anonymous one at that. The government has asked, nay ordered, that all should believe the mainstream media and cheer on the government in its noble 'struggle' to uplift the fortunes of everyone regardless of race in Malaysia. And while at it no harm screaming aloud "Malaysia Boleh!!"

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Anonymous Anonymous said...

Didn't a senior minister said to foreign investors that if they do not agree with Malaysia's policy, they can get lost?

4:37 PM GMT+8  
Blogger team BSG said...

desperate measures for a desperately confused group of asleep men( and women), as those non asleeps hastily enrich their pockets...again

9:13 PM GMT+8  

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