Remove Hindrances to Make Malaysia More Attractive

I welcome Deputy Prime Minister and Finance Minister, YAB Dato Sri Najib Tun Razak's comments that there will be a gradual liberalisation of some of the elements of the New Economic Policy. I urge the government to again seriously consider liberalizing the economy by relaxing the 30% Bumiputera quota to make Malaysia attractive to both domestic and foreign investors. We just have to ask ourselves two questions. First, in the current global market, do we want to encourage local investors and attract foreign investors. Second, do we want to make Bursa Malaysia the premier regional bourse? If the answer to both questions is YES, then we have to seriously remove any restrictions and hindrances, including the removal of the 30% Bumiputera quota. Can we force any local company to list on Bursa Malaysia? Obviously not. We must not forget that in this days of globalization, companies have a choice to list on other regional bourses like Singapore, Hong Kong and even London, if there are restrictions. So, unless the government prohibits companies from listing overseas, which is impossible, we should look at relaxing all conditions to make Bursa Malaysia attractive.