Many jumped when the story broke about how the country’s foreign direct investment (FDI) for 2009 fell 81% to US$1.4bil (about RM4.5bil) from US$7.3bil (RM24bil).
While, we common folks just indulge in friendly banter on the whys and hows, the main political opposition on the other hand (in many states) did not hesitate to rush to man their guns from every corner, thus keeping alive the subject – much to the despair of those in the hallowed corridors of Putrajaya.
And of course being ever sceptical Malaysians, the underdog will obviously get the first bite to satiate their voracious appetite at snapping and barking at the government.
However, looking at the mechanics of such things, the story is not as bad or even if bad at all in the first place. You see, times have changed with the socio-economic landscape of the land.
The number was not as bad as portrayed. On a gross basis, FDI inflows chalked US$9.4bil, but out of this a whopping US$8bil was repatriated to the home countries of foreign companies operating in Malaysia, and that what has been pictured as the 81% fall to US$1.4bil.
The large amount repatriated was mostly from the pool of foreign investors who rushed to Malaysia during the bright yesteryears, followed by the effects of the worldwide recession, which spurred the pumping back of cash into their mother companies.
Fast forward to the present day. For one, just ponder on the fact that the country under the guidance of Prime Minister Dato’ Seri Najib Razak has shifted its sights from the decades long emphasis on labour-intensive industries.
Such a focus was yesterday’s story and the ripping of the papers after much thought would naturally cause many foreign investors looking for cheap labour to overlook Malaysia this time around and head for the likes of Indonesia, Philippines, China and even Vietnam.
For 2009, most countries across the globe saw a drop in performance, which was expected as companies were still dealing with the aftermath of the global credit crisis.
Mind you, realistically it is not just about market forces that are making the play here. Believe it or not Malaysia CAN fast track to a solid show of FDI performance ( for a while, that is) if we only would throw caution to the wind and open all doors at our own detriment.
To put it crudely, what about stooping as low as licking the boots of the Zionist lackeys in the US and dismantle all our safeguards, which had been painstakingly put in place through the years?
Isn’t this what many of our neighbours have done of late? Ah, before we get up for more heated protestations, try to put look deeper into what makes us tick as Malaysia.
Saturday, July 31, 2010
FDI : Easy...if only we would lick the boots of the Zionist and Americans
Posted by Lenggong Valley at 5:33 PM