Malaysia 'no' to dumping from any country, says MIDA

Malaysia will not allow the country to become a target of dumping activities by any country, including China, said Malaysian Investment Development Authority (MIDA) Deputy Chief Executive Officer III, Datuk Wan Hashim Wan Jusoh.

"Our stand is simple. The industry or investment projects that come from foreign countries, including China, should comply with the quality criteria investment we want.

"We do not want to see investments coming into the country to face non-tariff barriers such as countervailing and anti-dumping.

"But if the company, despite facing problems with countries, for example US and Europe, brings the quality or technology we desire, the problem of anti-dumping will not arise," he said this after the 'China Investment in Malaysia: Between Accelerating Economy and Intergrity of Sovereignty forum in Universiti Kebangsaan Malaysia' here Monday.

On perception that investments by companies from China were a violation of Malaysian sovereignty, Wan Hashim said, people should be more rational on this.

"Foreign investment, regardless of countries including China, is important as it brings a lot of benefits in terms of spin off of job opportunities to companies and locals in many fields such as services, logistics, manufacturing and as suppliers to overseas companies.

"The investment from China gives us the same benefits as other foreign countries. So, why didn't this perception arise when we introduce the Look East policy before and the inflow of investment from the US, 15 years ago?" he said.

Meanwhile, Iskandar Regional Development Authority Chief Executive, Datuk Ismail Ibrahim, said the existing regulations in this country were strong enough to ensure foreigners who own properties cannot easily become Malaysian citizens.

"They are only interested to come to work and while working here, they want to own a car, clothing and a house. This is an economic issue that happens all the time.

"This should not be considered as a guarantee to give foreigners citizenship and as a measure to protect local buyers, foreigners must own properties not less than RM1 million," he said. --Bernama