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The National Economic Policy (NEP) was implemented in 1971. The intentions were honourable and in time, the NEP has proved to be a nurturing ground for increased bumiputera equity in all areas of society and resulted in Malaysia’s majority community realising its future and pride. But over time, and with the advent of globalisation, the NEP has fallen within the purview of the politically well connected and, some would say, lost sight of its original objectives. The policy was long overdue for a revamp and more and more of the national majority did not see the NEP as being relevant to their lives. Prime Minister Datuk Seri Najib Razak understood the need to bring foreign direct investment (FDI) into Malaysia and took note of research done by various agencies on public sentiment. The Foreign Investment Committee (FIC) was set up to protect bumiputera interests and contained basic guidelines that covered equity investment by foreigners and Malaysian companies that were more than 50% ow

Federal territoryKuala lumpurAbu dhabiNajib razakKumar tharmalingamHall chadwick asiaForeign investment committeeKenanga international buildingNational economic policyMinister datuk seri najib razak