KUALA LUMPUR, Nov 2 ― Acknowledging there are issues surrounding 1Malaysia Development Berhad (1MDB), Prime Minister Datuk Seri Najib Razak said today the state-owned company is not the barrier preventing investments into the country.
In a written Parliamentary reply to Barisan Nasional (BN) representative for Kulim Bandar Baharu, Datuk Abd Aziz Sheikh Fadzir, Najib said foreign investors were still confident in the country’s economy and were pumping in more money despite the spotlight on the company.
“The 1MDB issue is not the blockade preventing the inflow of investments to Malaysia, and in fact, the latest statistics shows that investors still have confidence in the steady Malaysian economy.
“This can be seen in the increase in foreign direct investments (FDI) of RM22.4 billion in the first half of 2015,” Najib who is also finance minister said, adding that the amount is far supersedes the RM17.4 billion recorded for the same period last year.
Najib said that there was also an increase in the amount of investment approved by the Malaysian Investment Development Authority (MIDA), which rose RM1.5 billion in the first half from the RM112 billion recorded in the same period last year.
Najib was responding to Abd Aziz who asked him to state the government's reaction to 1MDB becoming an international topic of discussion as well as the steps taken to explain the 1MDB issue not just to the public but to the international community.
Abd Aziz also asked Najib to state if the 1MDB issue has affected the inflow of FDI into Malaysia.
1MDB and related entities are under investigation over various issues here and in the US, UK, Switzerland, the SAR of Hong Kong, and Singapore.
You May Also Like