Talk to the World for Good of the Country

A Kadir Jasin

بِسْمِ اللَّهِ الرَّحْمَنِ الرَّحِيم

PREAMBLE: Views expressed herein are entirely mine. I am writing in my personal capacity as a blogger. It has nothing to do with whatever position I may hold.

Investors want to know more about Malaysia Baru

LAST Tuesday and Wednesday I was in Singapore with Economic Advisor to the Prime Minister, Dr Muhammed Abdul Khalid, to talk to fund managers, analysts and journalists.

We attended Forum Asia 2019 organised by the Japanese financial house, Nomura Holdings Incorporated, and a dialogue session organised by the international rating agency S&P Global or Standard and Poor’s.

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Dr Muhammed spoke on the economy and I spoke on general issues including politics.

We have done so much since Pakatan Harapan won the May 9, 2018 General Elections yet it appeared to me that so little is known by the international investors.

We need more such sessions preferably attended by ministers and senior politicians. PH politicians should more willing to face domestic and international audiences.

It’s unreasonable to leave everything to the Prime Minister, Tun Dr Mahathir Mohamad. Ministers in charge of the economy, finance and trade in particular must be both “jaguh kampong” (village champions) and “jaguh dunia” (global champions).

Particiants at the S&P Global seminar

If they have been doing this, please quicken the tempo and if they haven't yet, please start.

Based on the questions and comments during and after the discussions, I have the feeling that investors, fund managers, analysts and journalists not only understood our situation better but were convinced that we are doing the right things.

We have many good stories to tell and should not be embarrassed to tell them.

It appeared to me that they were less worried about Dr Mahathir’s leadership of the country. In fact they were encouraged by his adaptation to the new political environment.

But they are concerned about leadership transition and the race and religious card being played by the Umno and Pas.

In addressing the leadership and transition issues, I said Dr Mahathir’s current tenure is different from the last one. He was last the Prime Minister from 1981 to 2003.

Not only that he is leading a different coalition, he is also being governed by a set of new governance, transparency and accountability regimes.

I sense that the level of confidence in his administration is high but the recurring concern is the transition of power to Datuk Seri Anwar Ibrahim.

I told them that while the PH election promises were not cast in stone, the transition from Dr Mahathir to Anwar was clearly stated and was the linchpin in the pre-election agreement that led to the Dr Mahathir leading the PH into battle and, thereon, to victory.

I told them that they should be encouraged by Anwar’s recent statements that he wasn’t in a hurry and that Dr Mahathir would continue to play a major role thereafter.

Investors need to be assured of the leadership transition

As for fears that there would be U-turns in policies when the new Prime Minister comes in, I assured them that it is unlikely because Anwar himself is actively involved in putting them in place in his capacity as a member of the PH Presidential Council and through his regular consultations with the PM.

Also, having been a witness to Dr Mahathir-Anwar political collaboration and confrontation since 1982 – when Anwar joined Umno - I don’t think the Prime Minister-in-waiting would repeat the miscalculations of the past.

Sidelining or killing Dr Mahathir’s legacies had been a costly proposition for his two previous successors – Tun Abdullah Ahmad Badawi and Datuk Seri Mohd Najib Abdul Razak.

As for concerns about Umno and Pas playing the racial and religious cards, I said they would continue with it because they are weak in other areas. Both parties are tainted by corruption and secret political funding.

I told them that race, ethnicity, religion and geography will continue to be important in Malaysian politics. We will continue to embrace and celebrate our diversity.

Race and religion are not the cause for alarm but racism and religious extremism are, and the PH Government will act tough on people spreading racial and religious hatred.

They also raised the issue of the lack of communication. Here, I strongly recommend that ministers be more visible, brave and be willing to participate in investment briefings and conferences at the global level.

I am annoyed by the reluctance of some key ministers to engage with local and international businessmen, investors and fund managers.

I think after a year, they should have gathered sufficient knowledge, experience and courage to be able to engage with the key stakeholders at home and abroad, and leave the day-to-day running of the ministries to the civil servants.

Wallahuaklam.