By Dr Chen Man Hin, DAP life adviser
The other day PM Najib’s kitchen cabinet announced plans to make Malaysia a high income developed country. Two days later he announced Malaysia will become a F1 racing country to bring glory and prestige as a renowned automobile producer of world standards.
Proton is sucking up millions every year of taxpayers’ money to support the automobile industry, and now F1 will require spending a billion or more annually. It will increase the financial burden of the people.
Tun Mahathir supports the F1 initiative because it will bring publicity worth millions for Malaysia, as F1 races are splashed across the media. He forgets that it will also focus on the sorry state of the automobile industry headed by Proton. Instead of sponsoring F1, PM Najib and former-PM Mahathir should pull up their sleeves and turn the automobile industry around to be as successful as the Thai automobile manufacturing. Thailand is now internationally known as the ‘Detroit of SE Asia’
Thailand is not chasing for F1 fame because it does not bring fortune.
The Thais do not have a national car to subsidise, like Malaysia. They take the road of liberalisation and invite international car makers to support their automobile programme.
PM Najib should take note that HONDA and BMW, world famous car makers have lost interest in F1 and have pulled out of the F1 racing grid.
He should also be aware that LOTUS F1 in its heydays in the nineties won 6 coveted F1 constructors title. But what good did Lotus bring to the British auto industry, which is in a sorry state? Its one time branded car makers had to be bailed out by US and European car makers.
It is doubtful that participation in F1 will help to develop the economy of the country and contribute to the making of a high income Malaysia.
We respectfully suggest that the two Prime Ministers should concentrate their energy to save the automobile industry liberalisation measures. Stop subsidising Proton and let there be free competition of all motor makers, which is the successful formula adopted by Thailand, the ‘Detroit of SE Asia’