I refer to the Malaysiakini report Anwar: Bumi policies affect investments .

Our former deputy premier has opened a Pandora’s box by saying that bumiputera polices affect investment. The NEP - a ‘sacred cow’ for the Malay community for more than three decades - has had its share of successes and failures. But there are still some people, especially in Umno, who think the policy should be maintained so that Malays can catch up economically with other races in this country.

No one can dispute that a majority of middle-class and millionaire Malays are the by-product of affirmative action by the government to restructure society and reduce poverty among the various races in this country after the May 13 incident.

Malay professionals such as accountants, lawyers, engineers and doctors can be found in the private and public sectors. As a result, one wonders if the bumiputera still needs a leg up from the government in order to compete with other races.

The abuses of the NEP could be detected from during the old premier’s watch. Instead of moving the poor into the mainstream, affirmative action policies granted cronies and family members of the ruling elite business opportunities and blue-chip shares at below-cost.

The hijacking of the NEP caused a huge gap between the rich and poor in this nation, as the economic pie was not shared equally among the various races in this country. But times are changing for in the fast-paced economic climate in which we live, foreign funds will go to countries with fewer restrictions on how money can do business.

Because of quota systems that govern how local firms partner with foreign investors, foreigners will be reluctant to invest here. Instead, they will be drawn to other countries who beckon them with better incentives than ours.

Many multinational companies have closed shop and relocated to other regions because of the cost factor here. As a result, many ordinary workers and professionals have been retrenched. This is not in the national interest as unemployed people are not able to put food on the table for their families and pay taxes. Thus, they create social problems later on.

We would expect Umno to brand Anwar Ibrahim a traitor to the Malay community because of his asking that the NEP be abolished. But thinking people know that affirmative action policies have already outlived their usefulness and should be stopped .

In order for our country to progress, the Malays should compete with other races on an even ground and not depend on huge commissions.

I am sure there are successful Malay entrepreneurs who succeeded on their own. They don’t depend on political patronage and would not lose any sleep if the NEP was abolished.

There is no shortcut to success. If our government still sticks to the old bumi quota policies, it will drive foreign investment to other shores. As it is right now, a corrupt government and a tainted judiciary have made Malaysia an international laughing stock.

Foreigners will think twice before investing in our country if palms have to be greased several times before approvals are given by top officials. On top of that, foreign investors cannot seek legal redress as our courts are full of judges of questionable integrity.