Malaysia, a role model - Dr. Mahathir Mohamad

by Lalin FERNANDOPULLE

“Sri Lanka could take Malaysia as a model while learning from other East Asian countries” said Former Malaysian Prime Minister Dr. Mahathir Mohamad addressing the media in Colombo on ‘On the way forward for Sri Lanka’.

Sri Lanka should encourage more foreign investors to fast track development and not depend too much on foreign loans.

He said the country needs external resources but should not depend too much on borrowings which could stifle growth. People should work and generate capital for development.

“Malaysia rejected aid from the IMF during the Asian financial crisis as it did not want dominance from an external force. Malaysia implemented its own policies to revive the economy”, Dr. Mohamad said. The West had been a model but today the focus has been shifted towards Asia which is an emerging region.

Malaysia is a model for its accelerated economic growth spearheaded by Dr. Mahathir Mohamad during his tenure of 22 years from 1981-2003. The per capita income in Malaysia increased from US$ 450 to US$ 9000 in 2003 due to the dynamic leadership, vision and foresight of Dr. Mohamad.

Asked whether he had been called upon to be an advisor to Sri Lanka Dr. Mohamad said that he was more comfortable to deliver speeches than undertake that task.

“The war is history and now the country should focus on development. Sri Lanka should live in Asia and not necessarily need to look at the West for a model”, he said that he noticed changes in the country since his last visit five years ago and added that there will be rapid growth in the country following the end of the 30-year conflict.

“Growth in Sri Lanka was affected due to the long conflict and now there is room for development.

The leaders are keen to develop the country and achieve objectives”, he said.