Chinese businesses solidly for Najib

The World Chinese Economic Forum has endorsed the prime minister's fair and just leadership.

UPDATED

PUTRAJAYA: Prime Minister Najib Tun Razak may not get the support of the majority of the Chinese voters, but the Chinese business sector is solidly for him.

Today, Najib was crowned as the “Father of Moderation and Transformation” by the World Chinese Economic Forum (WCEF) – the second largest Chinese voting block – in an apparent endorsement of his leadership.

Group chairman Michael Yeoh described Najib’s leadership as fair and just while encouraging Chinese businesses to believe in his transformation programmes, especially in efforts to augment non-Malay participation in the economy.

“Najib has contributed significantly to the transformation of the Malaysian nation.

“The Chinese community has benefited tremendously from you for your fair and just leadership,” said Yeoh.

Najib was also honoured with the “Distinguished Lifetime Achievement Award” for his efforts at turning Malaysia’s politics and economy around.

His 1Malaysia clarion call also received accolades from the WCEF.

The group felt that his inclusive policies, like the increase in allocations to Chinese schools and the introduction of tax exemptions for churches and temples, were testimony to his administration’s will to govern fairly.

Yeoh said such examples spoke volumes of Najib’s commitment not only to economic development but also to political and social reforms.

Not empty slogan
Earlier, Najib said his 1Malaysia concept was not merely empty sloganeering but was a means to pull the nation together and build on its diversity.

Successes, he said, could only be achieved if the people worked collectively.

“We must pool our collective talents… if we continue to pool together, I have no doubt we will win.”

But local observers felt that Najib’s plural 1Malaysia concept is often undermined by contradictory policies.

For example, they pointed out that Najib had to allay the fears of the “hawks” in Umno by ensuring them that the race-based affirmative action economic framework would be preserved.

International observers too are not too impressed with his bold and progressive political reforms.

Recently, the Human Rights Watch report on Malaysia stated that real political will is lacking in Najib’s push for social and political reforms.

Malaysia also failed to make significant improvement in Transparency International’s corruption perception index.

Strong growth
But Najib scored well in several other areas which can be attributed to some of his policies. Businesses felt it was much easier to trade under his leadership now and strong fiscal regulations meant confidence for investments.

The prime minister’s policies were also seen as the reason behind Malaysia’s strong growth last year.

Najib is confident that his government can record another six percent growth for 2012 but economists are not too optimistic, saying Malaysia’s GDP is likely to be affected by the eurozone crisis and may shrink to three percent by the second quarter, a development that will likely force him to call for early elections.

But with depleting Chinese support, observers say the prime minister may see his efforts to regain the coveted two-thirds parliamentary majority hampered and likely lead to an internal revolt in Umno.