MGCC PERSPECTIVESMAY JUN 2018 13 MGCC IN DIALOGUE Union EU and Malaysia the different levels of development of each participating nation must be taken into due consideration There should not be a completely free competition for the big and small enterprises Also former MITI minister Mustapa showed some reluctance Rainer Jaensch is the representative of Germany Trade and Invest for Malaysia Singapore and Brunei with regards to TPP while talking to Germany Trade and Invest in Spring 2017 The Trans Pacific Partnership TPP is no blueprint for the planned agreement with the EU It was too ambitious and too comprehensive Spending Boom of the Government The main problem of the past Government in the eyes of Dr Mahathir is that the government with its expenditure showed no responsibility to stay within the legal framework Companies outside the government are established he noted like the investment fund 1MDB Then there is the problem of the high allocation for the office of the Prime Minister which is not shown in the 2018 federal budget All this leads to misuse he surmised Indeed the emergence of the 1MDB Scandal and the transfer of 700 million USD into the private account of the former Prime Minister Najib Razak in summer 2015 was said to have led to the open split of Dr Mahathir with the government Due to the drop in income from oil the public treasury can no longer finance the expenses the former government was promising especially the expensive infrastructure projects Here China has willingly given a helping hand The East Coast Railway Link is one example which China is helping to build and finance with USD13bn Other Chinese mega projects are the Forest City in Johor with up to USD105bn and the construction or extension of ports in Melaka and Kuantan which Dr Mahathir regards as possible navy ports During the 50 minute interview with Germany Trade and Invest Dr Mahathir also touched on other issues This included the Bumiputra policy in favour of the ethnic Malay which he said should be continued as well as the role of religion which is misused for political purposes There was also mention of the lack of qualified labour and education for which more grants are needed With regards to Malaysia s relation to Singapore Dr Mahathir said whatever Singapore can do Malaysia can do as well The full wording of the interview is available with Germany Trade and Invest and will be shared with everyone who is interested Kindly contact the author at rainer jaensch gtai de

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