Govt welcomes legislation against economic sabotage

KUALA LUMPUR: The government welcomes the proposal to enact the Economic Sabotage Act as it will help spur Malaysia's economic growth, said Economic Affairs Minister Datuk Seri Mohamed Azmin Ali.

He said the proposed law would also curb the selling of contracts and approved permits (AP) licence.

"The secured projects and AP permits given to them (business owners) earlier were sold off just to get immediate gains from the transaction.

"We will consider it as sabotage to our economy and we certainly want a serious penalty and punishment to be imposed on those who commit these offences," he told reporters after delivering his closing remark at the Anti-Corruption Summit 2018 here yesterday.

The law was proposed by National Centre for Governance, Integrity and Anti-Corruption (GIACC) Director-General Tan Sri Abu Kassim Mohamed in his presentation at “The Future of the Bumiputeras and Nation Congress 2018” early last month.