M'sia still attractive to foreign investors
The Star (23/6/08): Malaysia remains competitive in pulling in foreign direct investments (FDI) with RM23.9bil already received in the first quarter of this year.
International Trade and Industries Minister Tan Sri Muhyiddin Yassin said although it appeared as if investors had shifted to countries like China, India, Vietnam and Thailand, Malaysia was still very competitive in pulling in FDI.
"For example, last year the investment received was RM59.9bil and in the first quarter of this year, we have hit RM23.9bil. We are projecting to do better than 2007,” he said.
Muhyiddin was responding to a supplementary question by Dr Dzulkefly Ahmad (PAS-Kuala Selangor), who said that the country was losing its competitiveness because the Government preferred a domestically driven national gross domestic product (GDP).
Muhyddin said the outflow of FDI last year amounted to RM307mil and that four companies had moved to Thailand, Vietnam and China.
"They shifted because of certain attractions such as cheaper labour in China but I can also prove that some companies which moved there had decided to come back here.
On another supplementary question by Dr Mohd Puad Zarkashi (BN-Batu Pahat), Muhyiddin said the Government had taken measures to compete with neighbouring countries.
“We do not have to announce openly our strategies and initiatives, including those which are deemed customised incentives,” he said.
He said a special committee chaired by the Deputy Prime Minister had been set up to look into cases considered as strategic investment projects which involve large investments but increase the investment rate of the country.
International Trade and Industries Minister Tan Sri Muhyiddin Yassin said although it appeared as if investors had shifted to countries like China, India, Vietnam and Thailand, Malaysia was still very competitive in pulling in FDI.
"For example, last year the investment received was RM59.9bil and in the first quarter of this year, we have hit RM23.9bil. We are projecting to do better than 2007,” he said.
Muhyiddin was responding to a supplementary question by Dr Dzulkefly Ahmad (PAS-Kuala Selangor), who said that the country was losing its competitiveness because the Government preferred a domestically driven national gross domestic product (GDP).
Muhyddin said the outflow of FDI last year amounted to RM307mil and that four companies had moved to Thailand, Vietnam and China.
"They shifted because of certain attractions such as cheaper labour in China but I can also prove that some companies which moved there had decided to come back here.
On another supplementary question by Dr Mohd Puad Zarkashi (BN-Batu Pahat), Muhyiddin said the Government had taken measures to compete with neighbouring countries.
“We do not have to announce openly our strategies and initiatives, including those which are deemed customised incentives,” he said.
He said a special committee chaired by the Deputy Prime Minister had been set up to look into cases considered as strategic investment projects which involve large investments but increase the investment rate of the country.
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