When the world when into rescission the demand on electronic sectors also drop. The best way for people to safe money is stop spending on asset property. Employment income does not have a balance sheet to book property as long term asset and depreciate this their P&L is based on cash expenditure.
Now is the best time for Malaysia to diversify into service sector. Malaysia should focus more on back office operation. Vietnam and Philippines are growing their operation; Malaysia should stay focus and continue to grow this sector.
Another sector that Malaysia should focus is stopping exporting crude oil, rubber and palm oil. Malaysia should continue focus into turning these resources into finish product.
Food technology and consumer product is another sector that Malaysia should focus. Nestle and P&G is not a Malaysia company, but allot of this product is manufactured in Malaysia. We should bring up Malaysia Company to focus on this industry.
Finally allot of tax incentive is only given to Manufacturing sector because of the investment dollar and high number of employment. Maybe it was the right thing to do back then but now this incentive should be given to technology and service sector.
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