1MDB issue not hindrance for investments coming into Malaysia
Bernama
November 2, 2015 17:49 MYT
November 2, 2015 17:49 MYT
The 1Malaysia Development Berhad (1MDB) issue is not a hindrance for investments to come into Malaysia, says the finance ministry. - File pic
The 1Malaysia Development Berhad (1MDB) issue is not a hindrance for investments to come into Malaysia, says the finance ministry.
In fact, the latest statistics showed that investors were still confident that Malaysia's economy was sustainable, it said.
"This is seen in a RM22.4 billion increase in flow of foreign investments during the first half of 2015.
"This total is much higher than the RM17.5 billion seen in the second half of 2014," said the ministry in a written reply to Datuk Abd Aziz Sheikh Fadzir (BN-Kulim Bandar Baharu) in the Dewan Rakyat here today.
Abd Aziz wanted to know the government's reaction to the 1MDB issue and asked for a clarification on the effects of the issue on foreign investment into the country.
According to the ministry, the investments approved by the Malaysian Investment Development Board (MIDA) amounted to RM133.5 billion during the first half of this year as compared to RM112 billion registered during the same period last year.
It said although there were issues, foreign investment still flowed into the country.
"Foreign investors in Malaysia are long-term investors who had considered the overall expansion process of the Malaysian economy, including the strong micro-economic fundamentals such as the low unemployment rate, the high national funds, sufficient international reserves and controlled government debts," it added.
According to the ministry, the investments approved by the Malaysian Investment Development Board (MIDA) amounted to RM133.5 billion during the first half of this year as compared to RM112 billion registered during the same period last year.
It said although there were issues, foreign investment still flowed into the country.
"Foreign investors in Malaysia are long-term investors who had considered the overall expansion process of the Malaysian economy, including the strong micro-economic fundamentals such as the low unemployment rate, the high national funds, sufficient international reserves and controlled government debts," it added.