KUALA LUMPUR – Tan Sri Rafidah Aziz has dismissed a recent report by Bloomberg that the country is fast descending into a failed state.
The former international trade and industry minister in a statement today disputes the notion that Malaysia is a failed state, following debates that have arisen from the report.
“It is still the same blessed country, endowed with what can propel it into the fraternity of developed nations.
“For decades, Malaysia was a bright spot on the world’s economic radar screen, attracting investors who saw its potential as a regional and global hub for key manufacturing activities, as well as selected services sectors.”
Rafidah also pointed out that global brands have domiciled in Malaysia, and hugely benefited from the investor- and business-friendly operating environment in the country, as well as a government machinery that is known to facilitate private sector endeavours.
“Of course, there are aberrations to the norm, but continuous engagements with relevant stakeholders, both local and foreign, addressed those aberrations, as well as constraints to efficiency, productivity and competitiveness.”
Rafidah said political problems have continued to sprout up for decades, as well.
“Challenges to the leadership of the ruling party, formation of splinter parties by dissatisfied losers, divisions into Team A and Team B, and the usual political-level squabbles, tested the political stability and resilience of the nation.
“Still, amid all that turmoil, the nation continued, over the longer term, to move up on an upward trajectory of growth.”
While Malaysia is currently being impacted by the global-afflicting Covid-19 pandemic, it has managed to survive the global economic issues of the 1970s; oil shock of the 1980s; and, Asian financial crisis in 1997, she added.
Her response comes after Bloomberg had last week reported that Malaysia is on the verge of failed statehood following the emergence of the #benderaputih campaign – a people-based initiative to highlight individuals who are unable to financially fend for themselves, and in need of aid. – The Vibes, July 14, 2021
