(Negeri Sembilan, Friday): Yesterday, the deputy prime minister datuk seri najib tun razak that the government would give express service to investors if they have high impact projects - projects which bring in technology, expertise and capital. he thought this would increase their confidence, and invest more in malaysia.

It is not express service that would attract capital investments. it is the existing economic and trading restrictions and regulations that are the causes of the loss of business confidece.

 

According to the Economic Freedom of the World 2006 annual report, malsysia's ranking in the world fell from 17th before 1997 to 23rd in 2004

 

The Geneva based institute for management development on world competitiveness report of 60 economies , malsysia's ranking fell from 16th to 28th place last year.

 

In terms of government efficiency and governance , malaysia deteriorated from 16th place to a disappointing  26th place, in world ranking.

 

These are the reasons why malaysia's per capitat income of us dollars 6000 has fallen below that of s korea, taiwan, hongkong and singapore with per capita incomes between 15,000 to 30,000 us$

 

These are the reasons why investors are bypassing malaysia for other asian countries like vietnam, india and china.

 

To prevent the situation from getting worse, the government should revise its restrictive poltical and economic policies and strategies.

 

Protection of industries like proton, and government linked corporations have caused these to lose billions of ringgits, and these are now becoming dinosaurs in the new global economy which practices democratic practices, liberal policies and a a cultue of merit and competitveness.

 

The continuation of the New Economic Policy which promotes a protectionist culture is detrimental for the country's progress. It should be abolished as soon as possible.

 

(15/09/2006)