COMMENT | What happened to the Malaysian economic dream?
COMMENT | Malaysia had a dream. About four decades ago, we aspired to be a developed nation by 2020. I was in Singapore, attending a conference when the news broke. In 1981, Singapore’s gross domestic product (GDP) per capita was US$5,596 (Malaysia: US$1,769) and in 2019, US$65,233 (Malaysia: US$11,415).
Singapore did not have that dream, but they achieved double-digit growth in GDP per capita and is now a developed country. They do not have natural resources and depended on us by exporting our produce. Even water is from us.
What did they do right?
We are blessed with so many natural resources...
COMMENT | Malaysia had a dream. About four decades ago, we aspired to be a developed nation by 2020. I was in Singapore, attending a conference when the news broke. In 1981, Singapore’s gross domestic product (GDP) per capita was US$5,596 (Malaysia: US$1,769) and in 2019, US$65,233 (Malaysia: US$11,415).
Singapore did not have that dream, but they achieved double-digit growth in GDP per capita and is now a developed country. They do not have natural resources and depended on us by exporting our produce. Even water is from us.
What did they do right?
We are blessed with so many natural resources. Our shoreline is vast, and we even have oil. In terms of human capital, we have lots of entrepreneurs and graduates. Rainfall is all year round, but where I live, for the past three months there have been water supply disruptions every month.
Without fail, every by-election and general elections we will hear politicians shout about development and most of them got elected using this battle cry. But do they really bring development or they develop themselves further?
Meanwhile, I have not heard from the minister in charge of water on plans to avoid further disruptions.
We used to have the best roads but look at our roads now – PLUS may be an exception. The traffic jams and the lack of parking space. Please do not use the excuse that the public should use public transport. Do ask whether public transportation is efficient and fit for purpose - we still cannot buy a return ticket!
Again, where I live, one minister is unnecessarily spending RM4.5 million to upgrade and beautify a park which was recently renamed as Taman Awam Bukit Kiara. This is a site marked for a controversial high-rise development and is awaiting a decision by the Court of Appeal regarding the legality of its development order issued by DBKL. The roads here have not been properly maintained for many years, and recently we experience flooding. Due to massive real estate development in the area, traffic jam is a new norm.
At the national level, we are fighting the pandemic, but what do the other ministers do? As many pointed out, they are busy politicking. Whatever happened to the promises made for development? We may not have the money now, but where are the footprints and plans to boost funds and improve our economic position?
Vietnam now surpassed Singapore and Malaysia to become the fourth largest economy in Southeast Asia and a World Bank report projects Vietnam’s GDP to grow at 2.8 percent this year, making it the world’s fifth fastest-growing economy.
I was in Vietnam in 1991 to visit a factory where they couldn’t even afford to supply uniforms to their employees.
So, Malaysia, what happened to you? Is it the people or the politicians that are holding back the developed country status?
Could our strength in diversity also be our weakness at the same time and “Malaysia, Truly Asia”, still relevant?
What say you?
The views expressed here are those of the author/contributor and do not necessarily represent the views of Malaysiakini.
