‘Country’s fundamentals, stability are main selling points’

KUALA LUMPUR: Investors consider Malaysia’s economic fundamentals and political stability as the main points to consider when investing in the country, and it will always be back to “business as usual” for them, whenever there is a ripple amidst the calm.

For them, Malaysia’s unity and racial harmony has been intact and deemed important to ensuring the country is stable, for the economy to progress.

To a question posed by Bernama as to the factors relevant for business to thrive, MalaysiaChina Chamber of Commerce ( MCCC) first vice-president Loo Kok Seong said foreign investors have always seen Malaysia’s racial unity, harmony and political stability as among the main selling points to doing business in the country.

“Malaysia is a multi- racial country and we are very wellknown as a role model of peaceful co- existence amongst people with different races and religions.

“So, I believe that the recent Subang Sri Maha Mariamman Hindu temple incident, will not change investors’ perception and shoo them away, as it was merely a small localised issue which can happen in any country in the world,” he added.

Loo said investors would judge a country by its overall security and economic fundamentals before deciding on making any investments.

Echoing Loo’s view, MCCC Secretary- General Kevin Siah said the temple incident was not even a racial issue, which could tarnish the country’s reputation.

“This is a very small case that is definitely not going to affect the racial harmony that we have been enjoying all the while.

“To me, it is purely a land dispute which was inappropriately handled between a developer and the temple management. Investors will still look at Malaysia’s strong economic fundamentals to do business here,’ he added.

Meantime, another business leader said the local business community viewed the incident as temporary, and would not deter investors from continuing making Malaysia their business destination.

The newly- elected President of the Malaysian Islamic Chamber of Commerce, Mohammad Sahar Mat Din said the issue would not be prolonged.

“In my opinion, overal l, business people want a situation which is harmonious for them to get on with their activities. They emphasise more on the country’s fundamentals which are sustainable and strong,” he said.

Asked on the transition process of the Federal government led by Prime Minister Tun Dr Mahathir Mohamad, he said the current administration was still new, with the Cabinet members still finding their strength and confidence in decision making.

“That’s why most decisions made will take a some time (to be implemented). But for business activities which do not involve policies or new decisions, I think it will not affect anything.

“Business as usual… it’s just that they are waiting for new initiatives,” Mohammad Sahar said, adding, the government had inherited debts from the previous administration, leaving it with less funds to carry out major development for the country. — Bernama