This investment is purportedly to “strengthen the US economy” at a time when our economy is crying out for greater investment, quite apart from the mystery as to why Malaysia needs to help out the world’s largest economy.
Malaysia is an emerging economy and we are doing our best to court investment from developed countries, not send our money away. Recently, we secured a RM1 billion investment from IKEA to build its Regional Distribution and Supply Chain Centre for Asia-Pacific in Pulau Indah. This creates value and generates jobs and economic multiplier effects back home.
It is also beyond belief that the Employees Provident Fund (EPF), according to Najib, is going to spend an additional US$3 billion to US$4 billion on infrastructure redevelopment in the United States. Is the PM telling us that helping the United States build infrastructure is more important than helping Sabah and Sarawak build roads and water pipes?
Money held by the EPF is money held in trust for the rakyat and cannot be used indiscriminately.
We understand that it is Najib’s choice that he meets with US President Donald Trump but leaders cannot mortgage the nation’s economic wellbeing for a photo opportunity.