The billions in foreign investment Malaysia is currently raking in mean nothing if the monies end up being irresponsibly squandered by corrupt civil servants and politicians, warns Gerakan youth.

“Needless to say some cronies and rent-seekers are likely to take advantage of the same,” said the movement’s deputy chief Andy Yong in a statement today.

He was referring to the deals sealed during Prime Minister Najib Abdul Razak’s recent visit to China and those lined up during the premier’s current stint in Japan.

Yong argued that as a result of rent-seeking and corruption, quality will be compromised while incurring extra costs, hamstringing the projects from the get go.

This, he cautioned, will lead to negative effects to our economy, such as income inequality and unfair redistribution of wealth.

And instead of fomenting economic growth, the billions in foreign investments plagued with leakages and corruption will not benefit the people at all.

“Unless such issues (essentially on corruption) is tackled seriously, we would never truly become a developed nation regardless of how huge is the foreign investment or gain.

“It is a major hindrance to sustainable development with a disproportionate impact on poor communities and corrosive on the very fabric of society,” he said.

The prime minister recently returned triumphant from China bearing deals amounting to RM144 billion, though this was matched by tens of millions reportedly lost due to corruption in government departments and government linked companies.

This is while the Malaysian Anti-Corruption Commission continue to take down corrupt civil servants almost every other week, with shocking figures of monies seized from siphoned public funds.