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Miti: Foreign investor confidence in M'sia still high

Published:  |  Modified:

PARLIAMENT | Only six small-scale foreign manufacturing companies with a total worth of RM37.3 million have closed down, terminated or relocated their operations between Jan and June.

Deputy International Trade and Industry Minister Ong Kian Ming said the number was small compared to the amount of FDI, about RM26.5 billion, brought into the country during the same period.

"This shows that under the new government, new investors are still confident and this will increase with better performance.

"It is a challenge for the ministry to attract high-quality investment which will benefit the people through high-quality business and job opportunities,” he said in the winding-up debate on the royal decree in the Dewan Negara today.

According to Ong, the government had implemented various initiatives to attract foreign investment to strengthen the country as a choice investment destination, including improving strategies and incentives which encourage high technology investment.

He added that his ministry also held consultation sessions with the business community to get its feedback to strengthen the investment climate in the country.

On the new national car project, Ong said the government would finetune the proposal with a review of the National Automotive Policy, which will be announced this year.

He said the project was among the regional consultative prospects discussed in the policy review to ensure that the automotive industry was in tune with global developments.

“The review will discuss matters related to various issues including the development of the local automotive industry, such as local companies, as well as research and development activities,” he said.

- Bernama

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