KUALA LUMPUR, March 23 — Prime Minister Datuk Seri Najib Razak has denied that foreign investors are shying away from Malaysia due to the 1 Malaysia Development Berhad (1MDB) issue.  

"Before the National Transformation Programme (NTP) was implemented (in 2010) the compound annual growth rate stood at 7 per cent.

"Under the programme it has gone up to 11 per cent, which would not be possible if foreign investment is not coming into the country,” said Najib during the dialogue session at the launching of NTP’s annual report, at the Malaysia International Trade and Exhibition Centre.

He added the programme has also ensured the private sector has become the engine of growth for Malaysia’s economy.

"Prior to this the growth ratio for the private and government-linked companies sectors stood at 45 and 55 per cent, respectively.

"Since the NTP’s implementation the private sector has grown to 60 per cent and government-linked companies by 32 per cent,” he said.