Amazing. In the midst of damning data highlighting the decline of Malaysia as an attractive destination for foreign direct investments, our Minister of International Trade and Industry, Datuk Seri Rafidah Aziz had the cheek to claim that "Malaysia has managed to build a competitive edge over other countries to win foreign direct investment (FDI)".She said while there was intense competition from China, India, Latin America and other Asean countries, Malaysia had managed to build a competitive edge against those countries. “We depend on FDIs to spur growth in key sectors. The manufacturing sector continues to lead the way,” she said.If my 3-part posts on "Malaysia Gets Marginalised" using data from the World Investment Report produced by the United Nations Conference of Trade & Development (UNCTAD) in 2005 isn't damning enough, the 2006 data released earlier this month showed further decline.
Rafidah said Malaysia was on track to becoming a developed nation and industrialised country and meeting the Vision 2020 objectives.
FDI into Malaysia declined further from US$4.0 billion to US$3.9 billion. Thailand replaced Indonesia as the country which attracted the 2nd highest level of FDI in Southeast Asia after Singapore. Singapore, on the other hand, despite already being the top FDI desitination in the region with US$20 billion in 2005, increased it by another US$10 billion to in excess of US$30 billion.
These latest data from UNCTAD were recently published in the Singapore's Straits Times (obviously gloating on its achievement) on 11th January, were however not given any space at all in the Malaysian media.
So, Datuk Seri Rafidah, is our Government now like the naked emperor, who insists, despite what is obvious to the public that "Malaysia has managed to build a competitive edge over other countries to win foreign direct investment"?
5 comments:
You forget to mention that Vietnam FDI surely beat us in 2007, if not already. Indonesia fell back a bit this year but can easily come back if the government makes some major progress on approving and legislations. This means that 2007 we could end up in 6th in Asean, only ahead of the Philippines..
this is not meant for you and any other person who can understand statistics and FDIs.
If i recall correctly, wasnt she the person who had said that if you dont like it, dont comelah? i stand corrected if my memory fails me.
good luck m'sia.
Hi Tony,
I have recently started a blog on Economics, with particular focus on issues pertaining to Malaysia. Being an absolute newbie, I have no idea how to get readership for my blog. Seeing that you are one of the very few Malaysian bloggers who blog on economics sometimes, I hope you will find mine interesting, and perhaps give me some advices.
http://elanortan.blogspot.com/
If, however, I am wasting your time, I apologise.
Blog on,
Elanor
ps: I have posted on Kay Peng's blog too. I hope self-advertising is not a very bad thing to do as a blogger. If it is, I apologise.
yes, intel did just that set up a USD1bn plant in Vietnam,,, why not in Penang or buy up our 1st Silicon which keep losing USD200mm a yr?
the feel good factor is here... can u smell it... GE...
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