MITI confident implementation of GST can boost investment climate

The Ministry of International Trade and Industry (MITI) is confident the implementation of the Goods and Services Tax (GST) from April 1 will boost the investment climate in the country.

Deputy minister, Datuk Ir Hamim Samuri, said this was because foreign investors and traders would be more confident with this tax which has long been practised in their countries.

"Most of the traders and international investors have lived in countries that have practised the GST much earlier and because of this I am confident Malaysia will be their choice location," he said.

Hamim said this after officiating the launching ceremony of the Ledang district flag today.

Hamim, who is also member of Parliament for Ledang, said this was because they knew Malaysia's GST was more or less the same as what is practised in their countries.

He also called for an end to accusations that the implementation of the tax would affect the rakyat and worsen the investment climate.

"The GST is more transparent and can bring the country to a more progressive era.