Thursday, April 23, 2009

Liberalization of the Service Sector/ 开放服务行业

During this economic slowdown, the government must take steps to ensure that our Malaysia’s economy is more competitive. It cannot be denied that there are structural problem in our economic system. For example, there are over dependence on the oil revenue, foreign workers and on trade and the export of manufacturing goods. In the manufacturing sector, we have been unable to move up the value chain; so, the value added component in the manufacturing sector is small. Today, Malaysia is no more a low cost manufacturing country. We have been unable to upgrade the skills of our workers while most of the foreign workers are totally unskilled. The service sector has been identified as an engine of growth. However, the bumiputra quota has always been regarded as a hindrance in our effort to attract FDI.

The liberalization of the service sector as announced by Najib where there is no 30% bumiputra equity in 27 services sub-sectors, ranging from tourism, transportation to health and computer industry and even the legal profession. I am sure this will attract more investment and also attract more professionals and technology into the country and hopefully it will be a boost to the service sector. Earlier, Najib as Finance Minister has announced the relaxation of the 30% equity for listing in the KLSE board. I am given to understand that major announcement will be made also on the financial sector liberalization sometime next week.

For health, legal, accountancy and banking, liberalization is essential to ensure that we can attract the best technology and also the best talent to our country. It is by exposure and competition that we can upgrade ourselves. Singapore managed to leap frog into the international arena involving health, legal, and banking when they open up much, much earlier. Today, you will find some of the top and the best brain in some of this 3 major fields practicing in Singapore. Removing the quota will create a level playing field. Most professional practices do not like the idea of allocating equity and working with total strangers. Liberalization in the service sector is a move in the right direction and is long overdue.

Over the years, there have also been calls for a total review of the NEP. There is a need to fine tune implementation so that the twin objective of the NEP - eradication of poverty irrespective of race and no race is identified by economic function become a less divisive issue. We have done well in reducing poverty but its second objective of uplifting the bumiputra have led to a lot of abuses. The time has come for the government to take the bull by the horn. I am sure a lot of bumiputra are aware that the tongkat syndrome should not be a Never Ending Policy (NEP). Najib with his wealth of experience should be able to take the lead. Affirmative action should be based on needs. The bumiputra special rights are entrenched in the constitution. Nobody can take that away. So, a review of the NEP should not be construed by some bumiputra as a challenge to their special rights as this is enshrined in the constitution.

面对全球经济放缓,政府必须采取必要步骤确保大马的经济更具竞争力。我们必须承认,我国的经济体制出现结构性问题。例如,过度依赖石油收入、外劳、外贸和出口。

由于一直无法提升产品的价值链,我国的制造行业已出现缺乏增值能力的瓶颈。今天,马来西亚不再是低成本制造国。我们既无法加强本地员工的技能,所雇用的外劳也非熟练劳工。服务业已被鉴定为经济增长的发动引擎。然而,土著股权固打一直是我国吸引外资的绊脚石。

首相拿督斯里纳吉宣布开放服务业的27个次领域项目,包括旅游、运输、保健、和电脑领域,废除有关行业的30%股权固打限制,以刺激有关服务行业的成长。我认为此政策必能为该领域吸引更多外来直接投资,同时将为大马招揽更多专才及引进科技,增强大马服务行业的竞争条件。

早前,也是财政部长的纳吉也宣布了放宽30%土著股权的上市条例。我也得知纳吉将在下周发表有关开放金融领域的新措施,而且将会是一项重大的宣布。

开放医药保健、法律、会计和金融领域是必要的措施,开放政策能为这些领域吸引最优秀的专才和引进最顶尖的科技进驻我国市场。不断的接触和竞争能使我们进步。新加坡在更早前已打开门槛,今天,其医药、法律和金融领域不仅成功跨足国际舞台,不少来自这3大领域的世界级顶尖人才 都在新加坡服务。

废除固打制能创造公平竞争的环境。绝大部分的专业领域都不能接受将股权分配给“陌生人”及和他们共事。我认为,开放服务行业是正确的方向,而且早该实行。

多年来,人民不断要求全面检讨新经济政策。政府有必要调整其执行方式,以减少落实该政策两大目标:不分种族消除贫困和平衡各种族的经济差异的过程中所产生的分歧。

目前,我国除贫的努力已立见彰效,但提高土著在经济所占配额时却出现许多弊端。因此,政府是时候全面检讨此政策的弱点。我相信,很多土著都意识到拐杖政策不能永远持续。以纳吉过人的智慧和经验,他应该能率行改变。而且,我们应该根据需求实行扶助。

土著的特权既已获宪法规定保障,不得更动。因此,检讨新经济政策不该被解读为挑战土著的特权。

3 comments:

呉 和豪 said...

Saudara Chua Soi Lek
For example, there are over dependence on the oil revenue, foreign workers and on trade and the export of manufacturing goods.

Maktab pengajiaan tinggi seperti Mara ,TAR perlu juga mementingkan pendidikan Vokesional, rakyat Malaysia mesti anggap kerja vokcasional sebagai sesuatu yang tinggi taraf, kalau orang tak rela kerja sebagai Pengimpal, susah bagi kita untuk laksanakan projek mega.

Pergantungan kepada minyak petroluem tak terjamin , perlu kita berusaha mencari tenaga gantian

The value added component in the manufacturing sector is small.

Ini ada kaitan dengan kerja penyelidikan yang kurang cukup.Orang Malaysia tak kurang kreative dan inovatif.Saya percaya setiap orang Malaysia mempunyai potensi yang tak terhad. Orang yang pertama mengegelingi dunia ia lah orang dari bumi kita ,Panglima Awang dan bukan orang putih.Encik Puah Kian Seng dari Sekincang boleh jadi Pereka yang begitu di Taiwan.Pendrive yang direkabentuk nya dijual dengan laris nya diseluruh dunia. Setakat mana kita dapat menarik bakal bakal macam itu.

Liberalization in the service sector is a move in the right direction and is long overdue.

Satu cara untuk kita menerima pengalaman dan ilmul ialah dengan menggalakan penyertaan pakar luar,nak kita jadi pusat pendidikan yang handal dirantau ini kita perlu juga mengaji pensyarah yang handal dari luar negeri.

There is a need to fine tune implementation so that the twin objective of the NEP - eradication of poverty irrespective of race and no race is identified by economic function become a less divisive issue.

Tujuan asal NEP untuk membasmikan kemiskinan dan meningkat daya orang luar bandar adalah baik,tapi perlu diubasual untuk mendapat optimun results

VM said...

Dr. Chua - I think your article is one of the most insightful ones among BN fella, much better than the rubbish published by your own president himself/your MCA comrades and many bloggers from Barisan Nasional, who constantly make themselves "blinded n avoided" from the hard facts and the challenging situation that facing Malaysia today.

Liberalization of the Service Sector seems to be a good move..ON PAPER ONLY..but more often than not, when come to implementation, the BN government is full of load of rubbish - highly inefficient and promoting "cronyism" and "wastage", superly corrupted and "non-transparent", "no accountability", unscrupulously high-handed, extremely disrespectful of laws and procedures...etc etc (I need at least 1000 A3 papers to write down the boo-boo by the government..)

SO WE SHALL SEE!!

Low C. W. said...

Liberalization for all sector, lets the business growth feely...work on tax policy for government to gain more income and subsequently provide better quality of education system and health environment...best way to help the poor.

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