CIMB group chief executive officer Nazir Razak said the massive plunge in foreign direct investments last year was partially caused by uncertainties over economic reforms, such as the implementation of the New Economic Model (NEM).
Nazir said that the tweaking the four-decade old NEP was “simpler than we think” thus the government must now be decisive on economic reforms and execute them promptly, without being sidetracked by detractors such as Perkasa, the Malay rights pressure group, screaming in a corner and all these things are happening. Nazir said this period (of uncertainty) must be cut short.
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