Dr M asks Tabung Haji to invest in hi-tech industries

Tun Dr Mahathir Mohamad today asked the Pilgrims Fund Board (Tabung Haji) and other funds to invest in high technology industries.

The former prime minister said Malaysia has many funds with huge capital amounting to billions of ringgit but most of their investments are focused on building skyscrapers.

"Actually, investing in sophisticated industries can better help us to realise our vision of becoming an advanced nation," he said

Dr Mahathir said constructing highrise buildings without using high technology while using foreign workers would eventually "result in the outflow of income from our country."

"If we venture into high technology industries, we can utilise our engineering and scientific expertise to give higher salary in tandem with the government's plan to transform Malaysia into a high-income nation," Dr Mahathir told a media conference after delivering a keynote address at the 6th Corporate Directors' Seminar hosted by Tabung Haji.

Dr Mahathir, said the benchmark of an advanced nation was not merely the per capita income and gross revenue of a nation but also the aspect of sophistication and technological advancement of a nation.