Malays won't lose out with Johor project, says Khairy

THE Iskandar Development Region (IDR) is not a sell-out to foreigners, deputy Umno Youth chief Khairy Jamaluddin said yesterday, in a stout defence of Prime Minister Abdullah Badawi's vision of remaking South Johor into a modern metropolis.
He was referring to the government's recent announcement of a slew of incentives which would remove conditions placed on foreign investors to offer equity to Malay bumiputeras.
Such a move did not mean that Johor would lose its independence to foreigners, said Mr Khairy, who is son-in-law to Datuk Seri Abdullah.
Under the incentives, foreign investors in specific zones of the IDR would not have to fulfil current rules requiring a certain percentage of bumiputera equity participation.
'Surprisingly, the incentives have not generated too much debate on the Malay ground, yet. But it will come,' he wrote in his regular column in the New Sunday Times.
Pre-empting such a debate, the deputy Umno Youth chief predicted that critics of the incentives would claim that Malays would become slaves and servants again.
'The argument will paint a picture of Singaporeans and other undesirables building skyscrapers in Johor and employing Malaysians as servants,' he said.
Defending the incentives, he pointed out that the waiver of the bumiputera rules was only for a small part of the IDR and not for the entire region itself.
He added that only certain sectors would be open to such foreign participation.
These are in the creative industries, educational services, financial advisory and consulting, health care, logistics and tourism.
Mr Khairy also pointed out that foreign investors given the bumiputera waiver would be allowed to conduct their business activities only within the zone and outside Malaysia, ensuring no competition with local businesses.
'If they set up in these zones to capture the Malaysian market they will not enjoy the incentives.
'By providing these incentives, we are actually taking the fight to places like Singapore which has been a favourite pick as a base for regional operations,' he wrote

tunku : he is given in every mainstream media to voice out,to give his opinions, to explain government policies.i just wanted to ask who is this kayjay in the government? is he the p.a of the pm? in todays world SIL is very powerful.according to him the incentives have not generated too much debate on the Malay ground, yet.hello kayjay, you fools the nst readers, the incentives is talk of the town nowadays, otherwise why shahrir is shouting up and down about it when Tun Mahathir comments on that issue.
to another point, you said that this incentives to foreigners are given only in certain part of IDR and their business activities only within the zone and outside Malaysia, what logic is this? Foreigners come and invest here but cannot do business in Malaysia? why do they want to come here than? maybe this is oxford thinking level....i guess.