Dr M on NATO PMX and UG

Share to help stimulate good governance, ensure future of people & M’sia

No News Is Bad News

 For image info, go to https://www.malaysiakini.com/news/707239 

Dr M on NATO PMX and UG

KUALA LUMPUR, June 24, 2024: For a change, and for once, the racist former premier Dr Mahathir Mohamad (Dr M), is talking sense based on facts and reality.

Dr M told Free Malaysia Today in an interview that the (Madani) government’s claims of increased inflow of foreign investment appears to be all talk and hype.

“Nothing is happening on the ground,”  he added.

It is nothing surprising as Malaysia’s 10^th Prime Minister (PMX) Anwar Ibrahim and his so called Madani Unity Government (UG) are known to be only NATO (No Action All Talk).

What has happened to all the talk about fighting corruption? Only to see discounts in court sentences and fines for the world’s biggest kleptocrat, the disgraced and shameless former premier Najib “1MDB” Razak.

The UG is now even considering “freeing” him by placing him under houses arrest - rad as backdoor freedom.

And what is the 3R (Race, Religion Royalty) today?

Racial and religious bigots, led by Umno youth chief Akmal Salleh, continue to roam freely spewing whatever they like to threaten national unity and harmony without any action.

Action is only taken against the ikan bilis (anchovies) or “small fries”.

No News Is Bad News reproduces below a news report on what what Dr M is saying:

Little happening on the ground despite FDI talk, says Dr M

Danish Raja Reza-24 Jun 2024, 07:30 AM

The former prime minister remains sceptical, cites major firms relocating to other countries and slow progress on investment agreements. 

 Former prime minister Dr Mahathir Mohamad said the Anwar Ibrahim government is not business-friendly.

PUTRAJAYA: Former prime minister Dr Mahathir Mohamad remains sceptical of the government’s claims of increased inflow of foreign investment, saying “nothing is happening” on the ground.

“We are told that there is a lot of FDI coming in from companies like Microsoft and Apple,” he said. “But on the ground, nothing is happening. We don’t see any progress being made. Until we see (tangible actions), we cannot take the proposals seriously.”

He contrasted the many government announcements to news about companies relocating to countries such as Indonesia and Singapore.

Many of the announcements were about “just memorandums of understanding, not (actual investment agreements),” he told FMT in an interview.

In March, Prime Minister Anwar Ibrahim announced that Malaysia successfully attracted potential foreign investments amounting to RM76.1 billion as of March this year, as a result of the country’s successful trade and investment missions with several countries.

MoUs for investments have been signed with countries such as China, the United Arab Emirates, and Germany. Additionally, tech giants Tesla, Nvidia, Microsoft, and Google have recently pledged investments in Malaysia.

Mahathir nonetheless expressed scepticism whenever the government announces FDI agreements while overseas, questioning whether the amounts announced can be made reality.

“We have to wait for them to actually start working on the ground. These are promises, and promises do not always need to be implemented. If you ask them, they might say they want to invest, but at this moment, we don’t see any actual investment,” he said.

Mahathir, who was once a finance minister, said alongside the lack of FDI, the people were suffering from a weak economy due to increased taxes, a weakening ringgit, and subsidy rationalisation.

“The cost of living has increased several times, and many people, especially the poor, are suffering. Some are at their wits’ end trying to feed their families.

“There have even been cases of suicide and many strange crimes being committed because people are desperate. They don’t have a good or sufficient income to support their families. From the perspective of many people, the economy is not doing well,” he said.

Mahathir said the Anwar Ibrahim government was not business-friendly. He said high levels of corruption and an inefficient government would not attract investors.

Mahathir said that when he was prime minister, Putrajaya introduced the Malaysia Incorporated policy in 1981 to foster cooperation between the public and private sectors with the goal of spurring economic activity.

“(Under this policy) the government and private sector worked together to develop the country. That approach has now been set aside. For the economy to grow, you need a very efficient government. This government is not efficient,” he said.