SHAH ALAM AUGUST 27th: The government should reduce our economic dependence on foreign countries, but instead increase domestic consumptions in order to prevent another currency crisis such as the 1997 Financial Crisis from recurring.
Member of Parliament for Klang, Charles Santiago said the government should increase the application of high technology in the industry, and not just rely on the limited human resources alone.
“The economic management of our country must move in the direction of high-skilled workers, and employ technology that can attract foreign investors to the country.”
“This way, businesses in Malaysia do not have to move out of the country,” he said when contacted by TVSelangor.
Santiago also said the government should focus on developing renewable energy sources as well.
“Currently, we are not using readily available expertise. Instead we focus our attention on other priorities such as developing nuclear power plants.”
“This is a waste of taxpayers’ money,” said Santiago.
He also added that the government should be more efficient at managing the country’s financial expenditures and work harder on reducing corruption.
“We need to improve our economic status that employs low to high-skilled workers.”
“The government should also improve on our trailing quality of education in order to compete with other countries,” he said.
Previously, the ringgit value fell more than below 7 percent this year. It is the lowest compared to the past three years for every 3.3 dollar and the worst record among other Asian countries.
Bank Negara is also revising the growth forecast, estimated at between 4.5 to 5.0 percent for the rest of 2013, unlike the previous forecast which was between 5.0 to 6.0 percent.
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