Former premier Dr Mahathir Mohamad's stinging criticism against the government and Prime Minister Abdullah Ahmad Badawi has not affected the country's economy, the Dewan Rakyat was told today.

Deputy International Trade and Industry Minister Husni Hanadzlah said in terms of investment, companies that had invested in the country were credible.

Between January and September this year, Malaysia had approved investments totalling RM13.9 billion compared to RM10.4 billion in the same period last year, he was quoted as saying by Bernama .

"It showed a 39.7 per cent increase. Of the total, 60 per cent were new investments and 40 per cent were for expansion. If this is used as a factor, Mahathir's criticism has not adversely affected the country's economy.

"I see this from the perspective of investments that have come to our country," he said in reply to Ismail Mohamed Said (BN-Kuala Krau).

Three factors

Husni said companies that invested or wanted to invest in a country normally looked at three factors, namely the political risk, business risk and financial risk.

He said political risk could discourage investors if there were issues that could bring about economic and political instability and thus hamper investment flows and activities in the country.

"As with our country, the three factors are strong enough," he added.

Over the past months, Mahathir has been regularly lashing out at his handpicked successor over several issues.

However, the former premier has been keeping a low-profile since suffering a mild cardiac arrest last month.