MALAYSIA’S drive for economic growth and foreign investments must not be “excessively capitalistic” to the point that the poor and marginalised are neglected, PKR president-elect Anwar Ibrahim said.

Foreign direct investments (FDI) are needed for economic growth, he said, but he also added that many people were concerned that pro-market policies would come at the expense of the Malays, Bumiputeras and the poor in the country.

“I make it very clear, that my take on this is we can’t propel economic growth without making Malaysia thrive with FDI.

“Such a policy, should be inclusive, clear and transparent but this doesn’t mean we should neglect the plight of the poor and marginalised.

“If we choose to embark on market reforms, it shouldn’t be an excessively capitalistic notion – ignoring the poor and the marginalised,” he said at the Malaysia: A New Dawn investment conference in Kuala Lumpur today.

Anwar also said that society must stop thinking of Malays as incompetent.

“To me, as a Malay, that is an insult to my race if you think we can’t compete,” he said.

He acknowledged that the Malay community faced many problems but stressed that poverty and inequality do not affect only one ethnic group.

“The sooner we Malaysians acknowledge that, the better for the country as a whole to be deemed as inclusive or more dynamic,” he said. – October 9, 2018.