How to create jobs without solid plan to draw FDI, asks ex-minister

March 23, 2021

PETALING JAYA: Former human resources minister M Kula Segaran has hit out at the government’s projection that the unemployment rate will be “more stable” by mid-2021, questioning Putrajaya’s plans to create jobs.

Pointing out how Malaysia’s foreign direct investment (FDI) fell by 56% to US$3.4 billion, he said new jobs will not be generated without a solid plan to overcome this decline in FDI.

Kula was commenting on the statement by economic affairs minister Mustapa Mohamed that the unemployment rate was expected to stabilise by the middle of the year, citing how it was lower than 5.3% in May last year.

Mustapa, also known as Tok Pa, also said he hoped the situation would continue to improve.

Kula slammed the remarks as “irresponsible”, telling the minister that there was no point to hope for something when he had the power and position to “make things happen”.

“As a minister, you provided no solution to how the unemployment was going to improve, just your hope. What basis did you make the conclusion that the situation will stabilise?

“Perhaps Mustapa should do less hoping and instead formulate better policies to create new jobs to boost employment. Until then, Malaysians will be cautious with their expectations,” he said.

The Ipoh Barat MP also pointed out that the unemployment rate slightly increased to 4.9% in January.

Meanwhile, the unemployment rate among those aged 15 to 30 reached 9.2% in the same month, compared with 8.7% in December.