Tuesday, June 10, 2008

Why You Shouldn't Stop Economic Corridor Projects

Malaysia is at risk of making itself irrelevant and obsolete if it does not continue to find new areas for growth that can generate intense economic activities and new or enhance current stream of income. In face of high oil prices, developed economies continue with projects that will steer their economy into the next century. I was quite surprised to know today that someone from PAS suggested that the MALAYSIAN government should stop these economic projects. I wonder what would happen if these kind of people were given the chance to run MALAYSIA. I can only assume welfare economy whereby the nation is getting bankcrupt in 5-6 years time. Does he know that the majority of the investments in Iskandar Development Region (IDR) in the south is through FOREIGN DIRECT INVESTMENT (FDI) i.e. it's foreign money pouring into our country. Government's money is only a small portion of it and the rest is probably coming from the humble Tan Sri Syed Mokhtar's company. So why should it be stopped. For the rest of the region it's companies like UMW, Sime Darby and PETRONAS that are contributing the initial capital and they are also trying to attract foreign investments. If these projects don't go on, we will find unemployment increases dramatically. Your child or my child will be out of school/college soon, and the job market will not expand if you don't have economic activities generated by these projects. Where else should they work? There will be bigger problems facing the nation later on. We as a citizen should accept we can no longer be pampered by cheap petrols. We should start changing our lifestyle and be fuel-efficient to help the nation. Government is doing their best to steer us through this difficult period. Some of the mega projects with little economic benefits have been deferred.

Yes you may complain government getting paid transport to and fro from work. If so why you don't become a high-ranking government officer yourself? Why shouldn't you apply for the job. The job comes from hard work and serious commitments over the years and they deserve it and trust me it's not that much.. It's something that's not worth complaining about.

What we can do now is to persuade OPEC nations to increase supply of oil to depress the price and not to wait until September to decide on the new oil price.


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