New Economic Model is hailed as the key to Malaysia's progress but an institute warns of resistance within Umno itself.
PETALING JAYA: A new paper by the Institute of Democracy and Economic Affairs (IDEAS) has hailed the New Economic Model as the key to Malaysia’s progress but also identified Malay nationalists as the biggest hurdle in its implementation.
The NEM was unveiled on March 30, 2010 with a vision to more than double Malaysia’s per capita income by 2020 via the key tenets of high-income, sustainability and inclusiveness.
The paper recognised that these steps were significant ones in the right direction but warned that resistance from Malay nationalists from within Umno itself could derail the plan.
In a press statement today IDEAS chief executive, Wan Saiful Wan Jan, stressed that the influence of these nationalists cannot be underestimated.
He referred to the re-emergence of pro-Malay agenda in the second part of the NEM as well as the establishment of Putrajaya’s bumiputera business co-ordinator, Teraju, as an example of how Malay nationalists forced Prime Minister, Najib Tun Razak, to water down his boldness.
“Any policy change that touches on Malay privileges is risky,” Wan said. “The launch of the NEM Part 1 in March 2010 led to an outcry from Malay nationalists, particularly about the lack of a “Malay agenda” in the plan.”
“This eventually led to the pro-Malay agenda being reborn in the Concluding Part document. Complaints from ethnic Malay pressure groups were taken very seriously by the government.”
Wan Saiful pointed out that Umno, being an ethnic-based Malay party, doesn’t allow room for its leaders to ignore the demands and threats made by Malay nationalist campaigners.
NEM a breath of fresh air
“They are Umno’s core voters,” he said. “Their influence through Umno in national politics cannot be ignored. They can exert pressure on policymakers at the highest level.”
Wan Saiful further emphasised that the NEM must be supported in order for Malaysia’s economy to progress. He added that while many positive steps have been promised it is still too premature to judge the outcome.
“Nevertheless Najib must be aware that the whole country, if not the world, is keeping a keen eye to see if he truly is a transformational leader who can achieve his own vision,” he said.
Wan Saiful also observed that the NEM’s aim to reduce the role of the government makes it more “free market” than its predecessor the New Economic Policy (NEP).
“The magnitude of change espoused by the NEM should not be underestimated,” he said.
“After decades of having an economic policy heavily influenced by the politics of ethnicity, the NEM is a breath of fresh air that is trying to take Malaysia forward into politics of ideas.”
“It is undoubtedly exciting to see that there is now the promise of a policy that sets the course to a more liberalised Malaysian economy.”
IDEAS’ paper was published by an international German organisation, the Friedrich Naumann Foundation, which is a not-for-profit organisation linked to the Free Democratic Party, a member of Germany’s government coalition.
PETALING JAYA: A new paper by the Institute of Democracy and Economic Affairs (IDEAS) has hailed the New Economic Model as the key to Malaysia’s progress but also identified Malay nationalists as the biggest hurdle in its implementation.The NEM was unveiled on March 30, 2010 with a vision to more than double Malaysia’s per capita income by 2020 via the key tenets of high-income, sustainability and inclusiveness.
The paper recognised that these steps were significant ones in the right direction but warned that resistance from Malay nationalists from within Umno itself could derail the plan.
In a press statement today IDEAS chief executive, Wan Saiful Wan Jan, stressed that the influence of these nationalists cannot be underestimated.
He referred to the re-emergence of pro-Malay agenda in the second part of the NEM as well as the establishment of Putrajaya’s bumiputera business co-ordinator, Teraju, as an example of how Malay nationalists forced Prime Minister, Najib Tun Razak, to water down his boldness.
“Any policy change that touches on Malay privileges is risky,” Wan said. “The launch of the NEM Part 1 in March 2010 led to an outcry from Malay nationalists, particularly about the lack of a “Malay agenda” in the plan.”
“This eventually led to the pro-Malay agenda being reborn in the Concluding Part document. Complaints from ethnic Malay pressure groups were taken very seriously by the government.”
Wan Saiful pointed out that Umno, being an ethnic-based Malay party, doesn’t allow room for its leaders to ignore the demands and threats made by Malay nationalist campaigners.
NEM a breath of fresh air
“They are Umno’s core voters,” he said. “Their influence through Umno in national politics cannot be ignored. They can exert pressure on policymakers at the highest level.”
Wan Saiful further emphasised that the NEM must be supported in order for Malaysia’s economy to progress. He added that while many positive steps have been promised it is still too premature to judge the outcome.
“Nevertheless Najib must be aware that the whole country, if not the world, is keeping a keen eye to see if he truly is a transformational leader who can achieve his own vision,” he said.
Wan Saiful also observed that the NEM’s aim to reduce the role of the government makes it more “free market” than its predecessor the New Economic Policy (NEP).
“The magnitude of change espoused by the NEM should not be underestimated,” he said.
“After decades of having an economic policy heavily influenced by the politics of ethnicity, the NEM is a breath of fresh air that is trying to take Malaysia forward into politics of ideas.”
“It is undoubtedly exciting to see that there is now the promise of a policy that sets the course to a more liberalised Malaysian economy.”
IDEAS’ paper was published by an international German organisation, the Friedrich Naumann Foundation, which is a not-for-profit organisation linked to the Free Democratic Party, a member of Germany’s government coalition.
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