Don’t repeat mistakes of ‘umbrella’ strategy, Anwar advised | The Malaysian Insight

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Don’t repeat mistakes of ‘umbrella’ strategy, Anwar advised

Previously, Proton selected vendors based on their ethnicity, not their know-how to produce car components, says an economist. – EPA pic, September 25, 2019.

POLICIES to nurture world-class small and medium enterprises through the “umbrella” strategy cannot be ethnicity-based, said a renowned political economist, following attempts to revive the approach. Professor Edmund Terence Gomez of Universiti Malaya told The Malaysian Insight that Putrajaya’s use of ethnicity-based conditions in the strategy was why the government’s efforts to help SMEs failed in the 1980s and 1990s.

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