Make way for local investors

Tun M are calling for the government to make way for the local investors to play a greater roll in domestic economy development.  He believed local investors had fled the countries with billions of their money to seek for 'new growth'.  Read full report here.

How true. All the FDIs that we attracted into Malaysia had brought artificial growth.  Although they provide instance economic impacts such as employment, strengthen forex reserve and other residual effects, the transfer of technology were minimal through FDI. The technology and knowledge that were brought in were 'ready made' and re-packaged for commercial purposes.  Since they were not made here, so did the relevant process of producing the knowledge and technology.  Therefore, we are stuck here as the end producers or end users of the technology and knowledge that are not ours - what the low income nation usually associated with - low income activities.

So, that how and where the local investor can comeback and fill in the 'competency gap' in our economy structure.  With the capital they have with them, giants like Maxis and KNM (I can only think two right now) can play their role to be the provider of technology.  It worth noted that this in also something related with the New Economic Model - to achieve a high income economy.

Well, we better start working (before it's too late - read here) since we really have a lot to do.