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Dr. M to Revive ‘Malaysia Incorporated’ Concept, Will It Become a Reality?

Dr. M to Revive ‘Malaysia Incorporated’ Concept, Will It Become a Reality?

The government of Malaysia will revive the concept of Malaysia Incorporated (Malaysia Inc) that was first introduced by Tun Dr Mahathir Mohamad in his previous as Prime Minister.

“We are reviving the concept of Malaysia Incorporated.”

“Malaysia will be regarded as one huge corporation where the Government and private sector work to ensure the success of our cooperation,” Dr Mahathir said in his speech at the opening of the 72nd annual general meeting of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCIM) here on Friday (July 20).

The Star reports, Dr Mahathir introduced the Malaysia Inc concept when he first served as Prime Minister to encourage cooperation between the public and private sectors.

Prime Minister Tun Dr Mahathir Mohamad delivers his speech during the Associated Chinese Chambers of Commerce and Industries of Malaysia (ACCCIM)’s 72nd annual general meeting in Kuala Lumpur. Image: MOHD YUSNI ARIFFIN/New Straits Times
Prime Minister Tun Dr Mahathir Mohamad delivers his speech during the Associated Chinese Chambers of Commerce and Industries of Malaysia (ACCCIM)’s 72nd annual general meeting in Kuala Lumpur. Image: MOHD YUSNI ARIFFIN/New Straits Times

 

 

Dr Mahathir praised the country's business community for their efforts to help Malaysia achieve continued development.

“We accept that the business community will be the greatest contributor to enriching this country, and now we see ACCCIM, which was an association of Chinese Chamber members, expanding to cooperate with other Chambers including the Malay, Indian and international business chambers,” he added, as quoted by The Straits Times.

In his speech, the Prime Minister also gave the assurance that Malaysia will continue to be a business-friendly nation, and will not be corrupt, in a bid to attract more inflows of foreign and domestic direct investments.

Image: Lowyat Forum
Image: Lowyat Forum

He said the new government plans to enhance anti-corruption practices to ensure a clean business environment and fair play.

Dr Mahathir added that Malaysia, a trade-dependent country, must never reject foreign direct investments as there would always be new inventions and products that the country has no knowledge of.

"Today, we see many factories in Malaysia (which are) started, owned and operated by Malaysians without any foreign investments, but we still need foreign investments because we know that there are new technologies being developed and must be mastered if we are going to compete with the rest of the world," he said.

 

Indah Gilang Pusparani

Indah is a researcher at Badan Perencanaan Pembangunan Penelitian dan Pengembangan Daerah Kota Cirebon (Regional Development Planning and Research Agency of Cirebon Municipality). She covers More international relations, tourism, and startups in Southeast Asia region and beyond. Indah graduated from MSc Development Administration and Planning from University College London, United Kingdom in 2015. She finished bachelor degree from International Relations from University of Indonesia in 2014, with two exchange programs in Political Science at National University of Singapore and New Media in Journalism at Ball State University, USA. She was awarded Diplomacy Award at Harvard World Model United Nations and named as Indonesian Gifted Researcher by Australian National University. She is Researcher at Regional Planning Board in Cirebon, West Java. She previously worked as Editor in Bening Communication, the Commonwealth Parliament Association UK, and diplomacy consulting firm Best Delegate LLC in USA. Less
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