KUALA LUMPUR: The Government will revive the concept of Malaysia Incorporated (Malaysia Inc) that was first introduced by Tun Dr Mahathir Mohamad in his previous as Prime Minister.

“We are reviving the concept of Malaysia Incorporated.

“Malaysia will be regarded as one huge corporation where the Government and private sector work to ensure the success of our cooperation,” Dr Mahathir said in his speech at the opening of the 72nd annual general meeting of the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCIM) here on Friday (July 20).

Dr Mahathir introduced the Malaysia Inc concept when he first served as Prime Minister to encourage cooperation between the public and private sectors.

He said reviving Malaysia Inc will be something that the Government will implement in the near future.

“Today, Malaysia is still in the process of recovering. It takes time. Not too long, but it takes time for us to achieve a complete reversal of the wrongs committed in past.

“But rest assured we are determined to do so and we need feedback from the business community so that what revision we do will be good for the country and business community,” he said.

Dr Mahathir praised the country's business community for their efforts to help Malaysia achieve continued development.

“We accept that the business community will be the greatest contributor to enriching this country, and now we see ACCCIM, which was an association of Chinese Chamber members, expanding to cooperate with other Chambers including the Malay, Indian and international business chambers,” he added.