Chinese investors show interest in reinvesting in Malaysia

KUALA LUMPUR: Investors from China have expressed conf idence in Malaysia and plan to re- invest in the country as it offers a stable political landscape and a favourable investment environment, says MalaysiaChina Chamber of Commerce President Tan Yew Sing.

“I’ve spoken to Chinese investors and they plan to come back if we have a transparent pol icy of no tolerance for corruption,” he told reporters after attending a Council of Eminent Persons’ (CEP) meeting yesterday.

Following the aggressive investigations conducted against p r ivate a nd g ove r nment ent i t i e s , Malaysia was expected to be more competitive in the longrun as corruption inf licted a business cost on the people, he said.

He also noted that the transition to the Pakatan Harapan- led government was smooth and deemed as one of the most peaceful transitions among developing countries.

Tan said investments from China were as important as other foreign direct investments; however, it was up to the government to decide which projects would bring benefits to Malaysia.

“The ones that don’t bring any benefit to Malaysia need to be reviewed. We need to welcome investments that incorporate local human resources, local technology and technology transfer,” he said.

On his meeting with the CEP, Tan said the chamber would prepare a report on the issues faced by the grassroots- level business people.

“We had a meeting and a written report will be sent later to the council,” he said, adding the report was expected to be submitted within one or two weeks.

On whether the East Coast Rail Link and Chinese property investments were discussed during the meeting, he said they were mentioned but not in detail.

“Basically (the report will consist of) feedback on the Malaysian economy and ( i believe) we should attract all kinds of foreign investments, not jus t in prope r t y development...( The question is) more on what types of industries and investments that Malaysia needs,” he added. — Bernama