1. Malaysia: What's our economic strategy?

Let's start by shedding some light on what is our economic strategy? Whilst every economy is a mixture of different productive outputs, it is important to identify our major GDP contributors. Since early 1990s, the Malaysian economic strategy has been about becoming an industrialised nation based on IT and manufacturing competencies. For example, there have been active emphases on attracting foreign investors to locate their manufacturing plants in Malaysia and Vision 2020 focuses on technology and knowledge with agricultural industries receiving less recognition than industrial manufacturing. Clearly, economic vision and strategy are evolving and the government of Malaysia has shifted emphases over time but the main pillar of economic focus of the country has been on industrialisation, be it through efforts to promote the country as a financial- or technology hub. The term 'industrialisation' is used loosely here to distinguish between agriculture and industry-based economies. The national car project, Proton is part of the country's strategic plan to compete in a manufacturing/industrial sector. So, it is quite clear that Malaysia is following the path of economic strategy leaning towards exporting industrial-based products, attracting foreign investments in manufacturing and developing competence based on technology to generate economic incomes. On reflection, we will ask ourselves whether we have got our economic plan right? if so, to what extent our strategy helps ordinary Malaysians? if not, in hindsight what could have been done? and what future strategic plan could we propose?