Mahathir Mohamed: Malaysia was worse off than Egypt
Mahathir Mohamed at the International Renaissance Experiences Seminar
Photo via Freedom and Justice Party
The PM is visiting Egypt to speak at a conference entitled "International Renaissance Experiences" hosted by the Freedom and Justice Party and will be the Guest of Honor of the Egyptian Economic Summit in September.
“Malaysia got to where it is today by focusing on education reform – especially engineering – and attracting investment,” Mohamed assured. Reforming engineering studies helped the country flourish in the heavy industry sector.
He is famous for applying economic policies in Malaysia which built up the economic empire known worldwide today. The country was suffering from severe ethnic problems and its population was twice the size of Egypt’s.
Mohamed first privatized land for Small and Medium-sized Businesses (SMEs) which helped in creating temporary employment opportunities, yet it became clear that complementary industries were the only way for significant economic return.
The annual income of an average Malay used to be $850. Today, it has become $8000.