‘State still attracts investors due to political stability, policy’
KUCHING: Investors are still attracted to the state despite the uncertainties in the global economy, says Minister of Industrial and Entrepreneur Development, Trade and Investment ( Mieti) Datuk Amar Awang Tengah Ali Hasan.
He said the US$ 3 billion worth of investment by a company from China at the steel industry in Samalaju Industrial Park was testimony that the state still enjoyed foreign investments.
For the investment, a Framework Cooperation Agreement between two of China’s largest firms - Hebai Xinwuan Steel Group and MCC Overseas Limited - and the state government was signed in China in November last year during Awang Tengah’s visit to the country together with Prime Minister Datuk Seri Najib Tun Razak and other federal and state ministers.
“Investors, foreign and domestic, are still attracted to the state despite the uncertainties in the world economy due to our political stability and businessfriendly policy,” he told reporters yesterday after officiating at the 2017 Lean Management seminar at Borneo Convention Centre Kuching ( BCCK).
According to Awang Tengah, who is also Second Minister of Resource Planning and Environment, investors from China were very keen to realise the proposal to invest in the steel industry.
He also said the visit to China also saw several memoranda of understanding ( MoUs) being signed between Najib and China’s companies, worth about RM144 billion, including the US$ 3 billion for the steel industry in Samalaju.
Investors, foreign and domestic, are still attracted to the state despite the uncertainties in the world economy due to our political stability and our business-friendly policy.
Earlier, Awang Tengah in his speech to address the seminar participants, said based on recent report by Institute for Management Development, Malaysia was among the 20 top countries with a high level of competitiveness.
He also said that based on a World Bank report on doing business, Malaysia was ranked 23rd as business-friendly among 190 countries.
“These attractive positions clearly show the government’s attempt all this while through Economic Transformation Programme ( ETP) and Government Transformation Programme (GTP) have produced results,” he said, and urged the people not to be complacent.
He added the time had come for all organisations to practise continuous learning in order to enhance process efficiency through the Lean Management System.
Lean refers to the methods and principles which help to identify and reduce waste or nonvalue added activities through continuous improvement for the good of the customers.
More than 200 people from government departments and agencies took part in the one- day seminar.
Assistant Minister for Rural Economy ( Coastal Areas) and Fisheries Datuk Julaihi Narawi, Assistant Minister for Resource Planning Datuk Mohd Naroden Majais, Mieti permanent secretary Datu Liaw Soon Eng and Malaysia Productivity Corporation ( MPC) board of director member Datuk Abang Abdul Karim Tun Openg were also present at the seminar.
Datuk Amar Awang Tengah Ali Hasan, Minister of Industrial and Entrepreneur Development, Trade and Investment