The EU joins the hunt for skilled immigrants; where does that leave Malaysia now?
The European Union has now upped the ante in the global bid to attract skilled immigrants to its member countries. Under the new "blue card" system, skilled migrants such as IT professionals and hospital workers, will earn the renewable right to work and live anywhere in the bloc. Whether or not it obtains a unanimous vote for this system from its member states is another matter but it still points out the importance other countries place on brain gain and attracting talent.Fast forward (or backward) to our beloved country and one wonders how long more the arcane equity restructuring policies can continue to hold. While other countries are busy competing to attract talent, our UMNO led government is hellbent on its NEP policies, causing investors and talent to think twice about coming here.
No doubt, the recent news of increase FDI might deceive these guys into thinking they might be justified in their race-based policies, but analysts are already saying that FDI overall has increased in 2006 and Malaysia's increase is slower than say Thailand or Singapore.
The more we continue with these blinkered equity policies, the further behind we lag.
Technorati: Malaysia, NEP, racial economics
posted by hew @ 4:59 pm
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