Ex-Malaysian PM: Politics have no impact on investors

The recent tirade of President Rodrigo Duterte against the United Nations and the European Union has no real impact on investor sentiment, former Malaysian Prime Minister Mahatir Bin Mohamad said on Friday.

"Investors are business people. What they want is to make money ... They don't care about politics," Mahatir told reporters in a briefing on the sidelines of the 49th Financial Executives Institute of the Philippines conference in Makati City.

The former Malaysian premier made the statement when asked to comment about Duterte's diatribe against the UN and the EU late Thursday.

The President dared critics of his campaign against illegal drugs to push for the Philippine expulsion from the UN and dared the EU to cut diplomatic ties with the country and for diplomats to leave in 24 hours.

Mahatir said investors will come to the country as long as rule of law and stability exist.

Likewise, business consultant and Wallace Business Forum founder Peter Wallace noted that investors in the Philippines were getting used to Duterte's comments.

"They now realized that these comments do not necessarily translate into policies," Wallace told GMA News Online on the sidelines of the press briefing.

Wallace noted, however, that the Philippines may be having difficulties in attracting new investments because investors are getting the "wrong perception" about the country.

"The reality is business is unchanged and you'll see continuing stability," Wallace said.

Online)

(GMA News