Umno : Why it has to give up NEP (ALI BABA way of Doing Business)

Musa: Brief Umno on why it has to give up NEP
Source : The Star
By MEERA VIJAYAN
Date : 23 March 2007.


Umno should have a special briefing to explain to its members why it was time to give up the New Economic Policy (NEP) for the success of the Iskandar Development Region (IDR).

Iskandar Development Region Authority (IRDA) advisory council member Tun Musa Hitam who proposed this also volunteered to be one of the speakers at the briefing.

He said that there were already hundreds of Malays who had the capability to do business and on merit. As someone who had been active in Umno for several decades, Musa said, he realised that there was a need to have a change in mindset to draw investors to the country.

“The briefing should explain what the IDR is, its implications to the country and to the Malays,” he said during a press conference at Danga Bay after the book launch of The Reluctant Politician: Tun Dr Ismail and His Time.

In the last few decades of the NEP, the country used to have an Ali Baba way of doing business where Ali would give his name and Baba would do all the work. “As time went on, Ali and Baba became equal and Ali was able to deliver as much as Baba. Now, there are even Alis who are using the Babas not as sleeping partners but as equals,” he quipped.

Musa also said that foreign investors who came to the country were not interested in the NEP, cronyism or nepotism as their primary focus was on making money. He suggested that instead of imposing conditional approvals, a more palatable method would be to provide potential foreign and local investors with a list of Malay entrepreneurs who were capable of doing business and leaving it the investors to decide.

Musa said that he had already asked for a computerised master list of all Malay entrepreneurs to be drawn up and the list would include their current grades as well as their past performance and track record which would be made available to any investor. “The IDR is an opportunity to demonstrate that we have arrived and we are able to do this,” he said.

Source :
(The Star) 23 March 2007