Vietnam surpassing M'sia should be a wake-up call

MP SPEAKS | The latest news is about Vietnam climbing in the ranking of best countries in which to invest this year, surpassing other Southeast Asian nations such as Malaysia, Singapore and Indonesia.

A recent report by the US News and World Report ranked Vietnam eighth out of 29 economies, up from 23 last year.

Neighbouring nations of Malaysia, Singapore and Indonesia, meanwhile, stood in 13th, 14th and 18th positions respectively.

According to the report, Doi Moi (renewal) economic policy reforms beginning in 1986 have helped Vietnam’s transition to becoming a more modern, competitive nation.

Vietnam’s continued efforts to lessen international isolation are shown by joining the World Trade Organisation (WTO) in 2007 and participation in free trade negotiations with the Trans-Pacific Partnership in 2010.

It is also a member of the United Nations, the Asean Regional Forum and the Asia-Pacific Economic Cooperation Forum, among other international organisations, stated the report.

The ranking of the best countries to invest in by the American media company draws from the results of a global perception-based survey and ranks countries based on the highest scores among nearly 7,000 business decision-makers.

The decision is made based on a compilation of eight equally weighted country attributes, including corruption, dynamics, economic stability, entrepreneurship, favourable tax environment, innovation, skilled labour force and technological expertise.

10-year moratorium

This news should be a wake-up call for Malaysia, and all Malaysians should be asking why it is not Malaysia, instead of Vietnam, which is topping this ranking, especially after the historic change of government in the 14th general election on May 9 last year.

Unfortunately, Malaysians have been too engrossed with race and religious issues which have been dominating the social media in recent months., with fake news and hate speech aimed at inciting racial and religious polarisation.

I would call for a 10-year moratorium on fake news and hate speech for Malaysians to concentrate on making the country a top world-class nation in the next decade.

Instead of fighting and competing with each other, Malaysians should be competing with the rest of the world to become a world-class nation in as many fields of human endeavour as possible.

LIM KIT SIANG is MP for Iskandar Puteri.

The views expressed here are those of the author/contributor and do not necessarily represent the views of Malaysiakini.