New policy to make Malaysian economy more competitive

KUALA LUMPUR: The bumiputra 30% equity objective will now be a macro target as the Government seeks to turn Malaysia into a more competitive economy, said Datuk Seri Najib Tun Razak.

The Prime Minister explained that the policy changes had to be made because of the drastic changes in the global economic scenario since the inception of the New Economic Policy (NEP) and the failure of the Foreign Investment Committee (FIC) to produce the desired results of increasing the bumiputra equity.