Tuesday, January 7, 2014

Dr M wants Tabung Haji to invest in hi-tech industries

Dr Mahathir said building highrise buildings without using high technology and furthermore using foreign workers would eventually result in the outflow of their income from the country. — Reuters pic

Dr Mahathir said building highrise buildings without using high technology and furthermore using foreign workers would eventually result in the outflow of their income from the country. — Reuters picKUALA LUMPUR, Jan 8 — Tun Dr Mahathir Mohamad today asked Pilgrims’ Fund Board (Tabung Haji) and other funds to invest in high technology industries.
The former prime minister said Malaysia has many funds with huge capital amounting to billions of ringgit but most of their investments are focused on building skyscrapers.
“Actually, investing in sophisticated industries can also better help us to realise our vision to emerge as an advanced nation,” he said.
Dr Mahathir said building highrise buildings without using high technology and furthermore using foreign workers would eventually “result in the outflow of their income from our country (to their homeland.”
“If we venture into high technology industries, we can utilise our engineering and scientific expertise to give higher salary in tandem with the government’s plan to transform Malaysia into a high-income nation,” Dr Mahathir told a media conference after delivering a keynote address at the 6th Corporate Directors’Seminar hosted by Tabung Haji. — Bernama

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