Malaysia on Tuesday unveiled ambitious plans to boost its economy by mobilising hundreds of billions of dollars of private investment, although questions remained over whether the money would materialise.
The ambitious plans ranged from a new mass transit system to relieve congestion in the capital, Kuala Lumpur, to building a huge oil storage facility next to neighbouring Singapore to form a regional oil products trading hub.
The ambitious plans ranged from a new mass transit system to relieve congestion in the capital, Kuala Lumpur, to building a huge oil storage facility next to neighbouring Singapore to form a regional oil products trading hub. Investments worth RM1.376 trillion (US$444 billion) over 10 years had been identified by a government thinkthank, of which 60 percent would come from the private sector, 32 percent from government-linked companies and 8 percent from government
The aim of the investment is to double per capita income and push Malaysia into the ranks of "developed" nations by 2020, rebalancing Asia's third most export-driven economy towards domestic demand and the service sector.
What happened to all the investments during the years of mega projects under Mahahthir's administration? What has happened to the economy? Where has all the money gone to? I guess the real losers are Malaysians when the 'ROI' is nothing but 'kickback' for a privileged few!
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