KUALA LUMPUR: Malaysia said Wednesday it will liberalize parts of the services sector, removing ownership rules linked to a controversial affirmative action policy for majority Muslim Malays.
Prime Minister Najib Razak, who was sworn in earlier this month, said that 27 sub-sectors would be liberalized “to attract more investments, bring in more professionals and technology as well as strengthen competitiveness.”
The areas targeted for liberalization are in the areas of health and social services, tourism, transport, business services and computer and related services.
Businesses in those service industries will no longer have to be 30-percent owned by “bumiputera”—a term that means “son of the soil” and takes in Malays and indigenous tribes.
The rule is part of the New Economic Policy (NEP), launched after 1969 racial riots, in an effort to narrow the wealth gap between ethnic Chinese—who control the business sector—and Malays, who dominate government.
”The liberalization of the services sector is pursued with the view of creating a conducive business environment to attract investments, technology and to create higher value employment opportunities,” Najib said.
”These efforts are expected to enhance the level of competitiveness of the services sector in the country,” he said in a statement.
— AFP
June 2025
Philippine Environment Month!
“Action for Nature, for the Future!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the 2021 ILO Commission of Inquiry recommendations
against serious violations of
Forced Labour and Freedom of Association protocols.
Accept National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands #Distancing #TakePicturesVideosturesVideos
Monthly Observances:
1 Jun – World Day of Parents
5 Jun – World Environment Day
7 Jun – World Food Safety Day
8 Jun – World Oceans Day
12 Jun – World Day Against
Child Labour
15 Jun – World Elder Abuse Awareness Day
16 Jun – International Day of Family Remittances
17 Jun – World Day to Combat Desertification and Drought
20 Jun – World Refugee Day
25 Jun – Day of the Seafarer
27 Jun – Micro-, Small and Medium-sized Enterprises Day
Daily Observances:
First Saturday of July:
International Cooperative Day
in the Philippines
