a blessing become a curse
Malaysia is now an “oil curse” country.**
M'sia negara 'sumpahan minyak'
When I started Petronas in 1974, I did not realize I would see the day when I would wish we had not uncovered such bounty.
The story I have told is a reminder of the scale of the challenge of development. My generation of young people faced this challenge in the 1960’s and 70’s. You face it now. The story tells us that development is about far more than picking strategies out of a box.
You have kindly invited me to address a seminar on strategies for reinventing and liberalizing Malaysia’s economy. But the story of our squandered oil wealth reminds us that it was not for want of resources or strategies that we floundered. Our failure has been political and moral. We have allowed greed and resentment to drive our politics and looked the other way or even gone along while public assets have been stolen in broad daylight.
I encourage you to take up the cause of national development with the ingenuity that earlier generations of Malaysians brought to this task, but the beginning of our journey must be a return to the basics of public life: the rule of law, honesty, truth-telling and the keeping of promises.
The Malaysia we need to recover is one that was founded on laws and led with integrity. With the hindsight of history we know such things are fragile and can be overturned in one generation, forgotten the next. Without a living foundation in the basics you might sense an air of unreality around our talk of reinventing ourselves, coming up with a new economic model, and liberalizing our economy.
So before we can reinvent ourselves we need to recover our nation. That larger community, bound by laws, democratic and constitutional, is the context of economic progress, it is the context in which young people find hope, think generous thoughts and create tomorrow.
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