‘GOVT WON’T CURTAIL BUSINESS FREEDOM’

It’s keen to see freer and easier business, says PM

THE new Pakatan Harapan (PH) government will not curtail business freedom with too many laws that will burden industry players, said Prime Minister Tun Dr Mahathir Mohamad.

He said the government was keen to see more parties making business freer and easier without too much legal restrictions.

“We welcome either domestic or foreign direct investment (FDI).

“FDI is limited to bringing in capital and technologies into the country, building factories and producing products for the local and export markets.

“We find that Malaysians are competent in development and can build our cities.

“We have to determine the needs of the people and all these opportunities will be opened to local companies,” he said during a briefing session to RTM and Bernama at his residence in Seri Kembangan here yesterday.

Dr Mahathir said the government would open only this opportunity to foreign companies if there were no local expertise in any particular area or mega infrastructure project. However, he said, it would be done through open tender.

“If there is something doubtful or unusual about the tenders, we will not hesitate to investigate.”

He said the new government would conduct economic performance studies, including the country’s actual debts and monetary outflows.

He said the public should not be upset about or suspicious of the intentions of the new government, as it only wanted to clean up and reduce the country’s economic problems.