Dr Boo Cheng Hau, the former Johor DAP chairman, said Proton failed due to cronyism, rent-seeking and corruption in both private and public sectors.

“We need a new economic policy devoid of governmental interference in the name of ‘affirmative action’, (where) businesses (will) be opened for free competition with anti-monopoly legislation in the private sectors,” Boo wrote on his Facebook today, in response to Entrepreneur Development Minister Redzuan Yusof’s explanation about the car project.

Proton was established in 1983 by Dr Mahathir Mohamad during his first stint as prime minister, with the first car produced in 1985.

Redzuan in an interview with FMT said the third national car project was “all about enhancing existing vendor capacity”, and dismissed sceptics who warned that it could turn out to be the “next Proton”.

He said no public funds would be used in the development of the project as it would be driven by a strategic private sector partner.

“The government has no intention of the project being a drain on any public funds,” he said, adding that should the project fail, the Pakatan Harapan government will not resort to a bailout as it did with Proton.

Boo is not convinced.

He said the “glaring truth” was that there has been no real change in “regime”, with “evidently less” determination to seek reforms since the May 9 polls.

“The economy is not your toy. It concerns the country’s long term well being,” he added.