Recently I attended the annual PTDs conference in INTAN Bukit Kiara.
There were many distinguished speakers presenting their views. Among them were MAS Chairman, Dato' Munir and of course the much awaited Tun Dr Mahathir.
Dr Munir boldly said that Malaysia was not ready for political change. The recent change caused a long uncertainty period, where important policy changes.
We should emulate Japan, where Public service actually runs the country. The too-frequent change in Political government do not bring about uncertainties as suffered here.
Tun in his talk on Vision 2020, what we have achieved and what's next agreed that FDI which according to him, he was the inventor, did not bring much gain to the country. In fact, there was not much foreign investment at all...only 10% of the investment were foreign, whereas the other 90% was borrowed from local banks!
After the ten-year pioneer period, they just moved their companies, lock stock and barrel, to other countries which now believe in FDI.
Except for the jobs offered, these companies did not give much to the country.
However, ironically, we still are looking forward for FDI for our development.
I am no economist, but that was what I heard from Tun himself.
To the economists out there, kindly give your comments.