World Bank: Malaysia remains good destination for global investors

KUALA LUMPUR: The World Bank contends that Malaysia remains a good destination for global investors and will continue to be, given its open economic policies, coupled with good infrastructure and strategic location.

The World Bank Representative to Malaysia/Country Manager Faris Hadad-Zervos said the good investment climate and competitive costs also provides global investors a conducive business environment.

“Malaysia is always ranked close to the top 20, across different types of international rankings, including that of the World Bank in Doing Business.

“It has also very developed infrastructure and connectivity, a highly-diversified economy, proactive government policies and multilingual workforce.

“All these make Malaysia a good investment destination,” he told Bernama on the sidelines of the MIA International Accountants Conference 2016 here yesterday.

Faris said Malaysia had historically received a considerable amount of foreign direct investments (FDI) and portfolios.

Malaysia posted a net FDI inflow of RM43.4 billion in 2015.

Asia was the main source of FDI flows (64.7 per cent), followed by the Americas (16.4 per cent) and Europe (14.1 per cent).

Faris said this endorsement dissolves any lingering misperceptions about Malaysia, while demonstrating the country’s improving economic fundamentals. Faris

He also pointed out that in any country globally, it was crucial to focus on the bigger picture of the ecosystem and without prejudice to the situation in Malaysia.

“If you look at the numbers, there continued to be a vast amount of investments into Malaysia. In fact, last year, net investments was positive,” he added.

Meanwhile, Ministry of International Trade and Industry (Miti) Deputy Secretary General(Strategy & Monitoring) Wan Suraya Wan Mohd Radzi said every effort is being made to provide an open and transparent environment for foreign companies in respect of investments.

“People know what Malaysia offers in terms of our trading environment.

“So, it is easy for them. The Malaysian Investment Development Authority is also able to ensure the necessary information facilitation for potential investors,” she added. — Bernama