Tuesday July 1, 2008

Najib: Chinese will not be left out in Ninth Plan

KUALA LUMPUR: The Chinese will not be left out in strategies to eradicate socio-economic inequalities in the Mid-Term Review (MTR) of the Ninth Malaysia Plan, Deputy Prime Minister Datuk Seri Najib Tun Razak said.

Najib, who gave a ministerial statement in Parliament yesterday explaining the details of the third thrust of the strategy framework of the MTR , said an additional explanatory statement needed to be outlined to prevent the issue from being misunderstood by any party.

He added the third thrust, which concentrated on addressing persistent socio-economic inequalities between ethnic groups, would give emphasis on three groups which still lagged behind the other races in terms of income and wealth ownership.

Najib said the three groups were the bumiputras, bumiputras from Sabah and Sarawak and the Indian community.

“This effort will not discriminate against the Chinese community and other groups as outlined under the national philosophy of growth which we had been practising since the 1970s,” he said .

Najib said emphasis would be given to the bumiputras to enable them to have 19.4% equity ownership in the corporate sector, 15% ownership of premises and an average income of RM3,156 each; Sabah and Sarawak bumiputras to have 3% ownership in the corporate sector and have an average income from RM2,063 to RM2,858 each; and the Indians to have 1.1% ownership in the corporate sector, 3.8% premises ownership and an average income of RM3,799.

He added that Chinese ownership in the corporate sector actually increased to 42.4%, while their ownership of premises was 76.1% and they had an average income of RM4,853 each.

Najib said talented bumiputra graduates would be given assistance to commercialise their ideas based on merit and needs.

“This doesn’t mean that this strategy will be an attempt to hold back the opportunities that can be gained by the non-bumiputra entrepreneurs,” he added.

Najib said the mid-term review period would also see a progressive liberalisation of the economy as an engine of growth, and the foreign investment committee guidelines would be reappraised to prevent the private sector from seeing the guidelines as a hurdle in their efforts to participate in the country’s economic activities.

“Unsuitable provisions will be repealed to ensure more market-friendly guidelines,” he added.

Najib said another strategy was the restructuring of the labour force without recognising racial differences in economic activities.

The private sector would be encouraged to employ bumiputras and non-bumiputras would be encouraged to work in the public sector, he added.

“The Government has no intention to force any public or public-listed companies to increase the bumiputra workforce in their operations,” he said.

Najib said the people should not ignore the reality of the existence of a huge disparity between ethnic groups, regions and between states and districts.

“The third thrust of the strategy to eradicate inequalities between the ethnic groups will benefit everyone and those who still need assistance from the Government.

“Such efforts will be continued to ensure equitable distribution of wealth and the participation of all ethnic groups, which will help to improve the quality of the people’s lives and guarantee national unity,” Najib said