‘We don’t solely depend on China for FDIs’
> Treasury sec-gen says foreign direct investments come from various countries
KUCHING: Malaysia receives foreign direct investments (FDIs) from various countries and does not depend solely on China, said Treasury Secretary-General Tan Sri Dr Mohd Irwan Serigar Abdullah ( pix).
Refuting claims that Malaysia is overdependent on China, he said the country’s net FDI inflow of RM39.2 billion last year included investments from India, Germany, Japan and Singapore.
“The FDIs that enter this country are diversified, but there are those who claim we depend too much on China. We get investments from various sources. The most important thing is, why do investors want to come to Malaysia? The key reasons are a strong economy, a good infrastructure and, most importantly, the country’s stable political climate; if there is chaos, who would want to invest here?
“Foreign investors choose to invest in Malaysia as they prefer to conduct their businesses in countries that are peaceful and calm,” he said in his message to almost 1,000 federal civil servants in Sarawak at the Finance Ministry’s programme, #MOF Bersama Rakyat, here yesterday.
Mohd Irwan said in terms of financial management, Malaysia is on a strong economic footing, with Bank Negara Malaysia raising the economic growth forecast this year to 5.5-6%, Bernama reported.
Meanwhile, PKR vicepresident and election director Nurul Izzah Anwar urged the government to reveal all documents related to investments or deals with China for the public to assess.
“This will enable the people to understand the payment methods and return on investments (ROI) which the nation is undertaking and benefiting.
“Numerous multi-billion ringgit projects involve China, including the construction the of the East Coast Rail Link (RM55 billion), the KL-Singapore High Speed Rail (RM40-80 billion), the development of Forest City (RM400 billion), the Malacca Gateway (RM42 billion) and the upgrading of Port Klang (RM200 billion),” she said in a statement yesterday.