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Media Statement
by Dr Chen Man Hin  
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(Seremban, Wednesday) : Prime Minister Datuk Seri Abdullah Ahmad Badawi is to be complimented for cementing ties with Venezuela, and for his efforts to integrate Malaysia into a global economy. His admission that a 'global approach helps our economy to grow' is most encouraging.

Although Malaysia's position as ' 19th most globalised country' is comforting, the fact is the country is ill prepared to participate effectively in the global arena.

Unfortunately, foreign investors do not think Malaysia as investor friendly. According to UNCTAD, Malaysia is ranked 62nd in foreign investments, compared to a high ranking of 4th in 1990.

In SE Asia, foreign investments Malaysia now rank below Indonesia and fast losing to Thailand and Vietnam

According to Citigroup, Malaysia's NEP policy has put off foreign investors as it 'distorts the market'.

It is sad to note that investor unfriendly policies are undoing the efforts of the prime minister to encourage trade and investments from other countries through globalisation.

ENHANCING THE MALAYSIAN BRAND.

Another important factor is the making and nursing of a brand status for Malaysia. the good name as multiracial, multiligual and multicultural is known world wide and Malaysia is a Mecca for tourists.

Our athletes have performed very well at the Asian games at Doha, winning 8 golds and a good number of silver an bronze medals, a super achievement compared with bigger countries. the name of Malaysia is further enhanced

It is in the interest of the nation to keep the Malaysia brand with a bangsa Malaysia people, and to reject the calls to change it to another name.

PRACTICE A GLOBAL CULTURE.

In the face of rapid globalisation, it is vital to change our mindset, and to look at politics, economy and culture with a global prospective.

The NEP should change from the present strategy of increasing the income and wealth of bumiputras by introducing measures to curb the activities of non-bumiputras in order to achieve the same income as the latter. this is unhealthy as should the economy fail to improve, it would give the impression that non-bumiputras are to blame for the cause of lower income and living standards of bumiputras. their frustration was visible at the UMNO general meeting where fiery speeches vent their frustration on non-bumiputras, in particular Malysian Chinese.

A new and better strategy would be to adopt a global approach to improve the economy, such as liberalising the economy and allow a free market system to operate.

With a free market everyone whether Malays, Chinese or Indians can be an entrepreneur, and it will unleash his potential, energy and wit to invest and to increase his wealth.

The NEP stifles development. it dampens initiative and enterprise, which is the reason for the failure of the NEP and the marginalisation of Malays, Chinese and Indians.

A free market economy in Malaysia will attract foreign investors. There will be more trade. more countries would want to have FTA (free trade agreement) with Malaysia. FDI or foreign investment will increase.

It is strongly recommended for prime minister, Datuk Abdullah to go back to the drawing board and propose a global economic strategy to create wealth for the country in order that Malaysians of all races can be free from marginalisation and enjoy higher standards of living.