KUALA LUMPUR: The government will work hand in glove with businesses to help them make more profit under the Malaysia Incorporated (Malaysia Inc) policy, said Tun Dr Mahathir Mohamad.
By reviving the policy that he introduced when he first served as the Prime Minister, Dr Mahathir said the government would be able to collect more taxes from businesses when they make more money.
“This government promises to return to the days when we had Malaysia Incorporated,” Dr Mahathir said when launching the ninth International Rubber Glove Conference and Exhibition 2018 here yesterday.
Dr Mahathir said that under the Malaysia Inc policy, the whole country is regarded as one big corporation.
“From there, we will have the money to support industries, support the people and to provide good governance.”
Dr Mahathir first brought up the concept of Malaysia Inc at a forum held at the National Institute of Public Administration on Feb 25, 1983.
On July 20, Dr Mahathir announced that the Malaysia Inc policy would be revived.
In his speech at the rubber conference yesterday, the Prime Minister praised the country’s thriving rubber product industry.
Malaysia is the world’s biggest rubber glove manufacturer and exports the product to 190 out of the 196 countries in the world.
The export value for the local rubber glove industry from January to June this year was at RM8.47bil, up 6.57% from RM7.95bil for the same period last year.
He noted that the rubber industry has not only contributed to the country’s economy, but to humanity as well.
Dr Mahathir said that thanks to research and development, the rubber industry has continuously developed new products ranging from rubber tyres and surgical gloves to earthquake dampers for buildings.
“It’s not the rubber itself which is important, but its application,” he said.
In a light-hearted moment during his speech, Dr Mahathir said Malaysian rubber has helped to prevent the world’s population from spiralling out of control.
“Rubber ‘gloves’ are important in stopping too many people from being born.
“Imagine the world without condoms, if the world has a population of over seven billion now, it could soon be 10 billion because there’s no way of preventing conception.
“So again, our rubber has performed a great duty for humanity,” he said, drawing laughter and applause from the audience.
The event held over three days starting from Tuesday is organised by the Malaysian Rubber Glove Manufacturers Association.
Exhibitors from 14 countries, 800 conference participants and over 10,000 trade visitors are expected to attend the event.
Source: The Star