TTF: So the government cancels transportation projects that have the potential of galvanising growth but forks out RM20 million to build prototypes for a car model that’s not needed?
What sort of economics is this?
Here you are, diverting grants made up of government funds to invest in something that is bound to fail like proton, and there we have, Chinese state-owned banks, willing to bankroll cash-cow projects that Mahathir mysteriously cancelled.
Who’s doing the planning here – Guan Eng or Daim?
Why not divert the RM20 million to the needy fishermen instead?
KUALA LUMPUR: The Ministry of Entrepreneur Development has approved close to RM20 million to attract private investors to develop the prototype for the third national car.
The money was sourced from several existing grants to catalyse the development of the project.
“The idea is that we become the catalyst for the new national car.
“I’m not developing the third national car project; I am facilitating to create an environment for the project,” said Minister Datuk Seri Mohd. Redzuan Yusof after officiating the Sustainable Programme: Bumiputera Entrepreneurship Empowerment Initiative programme.
He said the ministry has also shortlisted several vendors to develop the prototype.
According to Redzuan, the government will be launching the replacement programme for the 1Malaysia Training Scheme by next month at the latest.
The new programme, Professional Training Education for Graduating Entrepreneur or Protege, has in fact unofficially started.
Redzuan also envisioned expanding the scope of his ministry to include trade and investment.
The sustainable programme is a collaboration between the ministry and Petronas as part of efforts to strengthen Petronas’ vendor development programme.
Source: The Mole