GOING GLOBAL: Automotive policy to spur country’s industrialisation
In 2006, the National Automotive Policy (NAP) was announced as a policy review for the three-decade-old industry that was created to spur Malaysia’s industrialisation.
The policy was necessary to keep up with shifts in the regional and global automotive industry networks. It was further reviewed in 2009 to create a more conducive investment environment in the domestic industry.
As the Malaysian automot...Read more
Malaysia has come a long way, from a nation that achieved independence six decades ago, to what it is today – one of the fastest growing economies in the region, emerging as a high-tech industry-based economy, from its roots as a basic commodity producer of petroleum, tin and agro-based products.
Since independence, Malaysia’s gross domestic product(GDP) rose from merely US$1.9 billion (RM7.85 billion) in 1960 to US$296 billion in last year.
We are within the world’s 35 largest economies by GD...Read more
It is common that in uncertain economic times, there will be discussions and debates on the robustness of the economy and the future.
The fear of the unknown ahead naturally triggers the popularity of polemic-based analysis towards economic administration during downward trends in the economic cycle.
The old adage that "to predict the future, we must look at history" becomes a relevant mind set in these times.
Throughout our history, Malaysia has survived numerous economic downturns.
The core stakeholders of the automotive sector - the industry players, academia and government bodies – have important roles to fulfil to ensure global competitiveness of the domestic industry. The synergy of all these factors contribute push-and-pull factors to each other to create a balance that drives technology acquisition and human capital development forward at a higher pace.
It is important to observe the key characteristics within the work methodology, field experience and finan...Read more
In the first part, this article discussed the gradual and eventual liberalisation of the Malaysian economy, particularly the automotive industry, to ensure business sustainability and global competitiveness. The great debate about protectionism can be generalised into two competing lines of argument. Those in favour of protectionism look at the development of infant industries that allow national economic growth, especially in areas where comparative advantages are not present, yet vital to be...Read more