Malaysia can achieve Vision 2020 of becoming a developed nation if several development and economic strategies were changed, said former premier Dr Mahathir Mohamad.

The former prime minister, who mooted the vision in 1991, said this was because the world financial crisis and the country's internal crisis in 1997 and 1998 had to a certain extent hindered national economic growth that had been planned.

"In order to achieve Vision 2020, the country must attain an economic growth of seven percent each year for a period of 30 years," he said in the 3rd series of the "Forum RMK-10 KITA" organised by the Ministry of Information Communication and Culture at the Putra World Trade Centre, here Thursday night, which was aired live on TV1.

Mahathir said, however, the development and economic strategies that needed to be changed must first be discussed in detail to determine which strategy could stimulate bigger growth.

With regard to the development of Kampung Baru in Kuala Lumpur, Mahathir suggested that the other races too be involved in the development programme so that it could provide an incentive in the effort.

"I feel there should be other races taking part too. We cannot set 40 per cent or 50 per cent but to a certain extent there must be (participation), because it will be an incentive.

"If the other races are not doing business, the Malays too will not come because it has become a belief that the Malays cannot do business," he said.

'Malays can't curtail desires'

Meanwhile, he said the reason why only a few Malays were listed in the 40 richest individuals in the country after 50 years of independence was because, according to him, the Malays "still cannot curtail their desires and are too spendthrift."

"We don't control our desires, the moment we get the money (we) want to spend. I met with a Chinese friend, he said the problem of the Bumiputera is that they don't know how to manage cash. When they have money, they want to spend. Even when the money is not yet theirs, they already spend," he said.

Mahathir also pointed out that the 10th Malaysia Plan (10MP) was not racialist although it gave much emphasis on the Bumiputera development agenda.

"(10MP) merely aims to achieve a balance in the income of all Malaysians regardless of race," he added.

Later, Dr Mahathir cut 'pulut kuning' (yellow glutinous rice) in conjunction with his 85th birthday.