The New Economic Model (NEM) is based on recommendations by economic experts to make Malaysia more competitive internationally but has yet to be finalised by the government, said Prime Minister Najib Tun Razak ( below ).  

NONE He said the government was still in the process of gathering feedback from various quarters including Malays before implementing it.  

"I hope no one will have doubts or worry that I will not pay attention to the concerns of the Malays.

"Obviously, I as the president of Umno cannot forsake the interests of the Malays who form the majority in Malaysia," he said when closing the Bumiputera Economic Congress organised by the Malay Consultative Council here tonight.

He said as the son of the founder of the New Economic Policy (NEP) the late Abdul Razak Hussein (Malaysia's second prime minister), no way would he betray his father's struggle.

The NEM to be implemented would have to be accepted by Malaysians at large to make the country a developed nation by 2020, he added.

Najib also said that he wanted to see the NEM producing better results for the economic advancement of Malays and ensuring that they were able to compete on the world stage.

'Fair to all races'

At the same time, he said other races would also not be left out in helping the nation to progress further.  

"Islam teaches us to not only be fair to all our Muslim brethren but also to non-Muslims.

"That Umno has been able last till now is because we have been fair to everyone," he said.

Najib was also presented a memorandum on the economic plight of the Malays from the 126 members of the council at the congress and in return he assured them that the council would be given the opportunity present its views towards fine-tuning the NEM.  

- Bernama