We must put in more effort to promote Malaysia in the overseas markets in the selling of our manufactured products and services. Whilst we have been able to achieve some degree of success in promoting exports of our manufactured products, we are not as successful in promoting export of our services.

I am referring in particular to contracts for construction of roads, buildings, sea and airports and oil and gas facilities. We have, after all, taken more than a decade to develop this expertise when constructing our own infrastructure. It would be sad if we fail to leverage on this expertise and aggressively sell it overseas, especially to other developing countries.

This failure revolves around our inability to create a Malaysian brand image to reflect a country that has the capacity and expertise to undertake such contracts.

There has been much sales effort put in but this has not been sufficiently backed-up by the availability of banking facilities in countries where we are suppose to compete like the Middle East, the former USSR states and Africa.

This issue arose due to a lack of sufficient capital and severe risk aversion. We also need to examine other related issues such as double taxation, repatriation of profits and the use of Labuan as a funding base for Malaysian companies operating overseas.

We appear to be losing out to China as their contractors are strongly supported by their banks and the availability of very cheap labour there. The fact that China is a permanent member of the UN Security Council with veto powers further adds to their clout in managing geo-political risks, particularly when operating in the Middle East and some African states.

With a very much reduced opportunity of getting contracts in the domestic market as in the past, our construction contractors are now fast disintegrating. If no concerted efforts are made to promote them overseas, we would soon lose touch with very substantial national know-how that we can be proud of.

It is now imperative that the concept of Malaysia Inc. be reviewed to enable us to address the new landscape which poses new challenges and opportunities. Let this be factored into the 9th Malaysia Plan in order that we continue to survive among the more successful emerging economies in the region.