KUALA LUMPUR, Feb 2 — The lack of investors’ confidence in the Perikatan Nasional (PN) administration is among the reasons why the nation’s stock market is performing worst that its Asean counterparts, said Opposition Leader Datuk Seri Anwar Ibrahim today.

“The matter of confidence in the economy is tied with the confidence towards the administration of the economy.  

“Is everything the fault of Covid-19? I would like to say all Asean nations and the world are facing the same problem, which is trying to contain the virus, which involves matters of public health as well as economic growth, we acknowledge that. 

“But why does Malaysia record the worst situation? Because there is no confidence, because of weak governance, because maybe the ministers are busy arranging the awards that they have recently received or other problems that were brought up previously such as contracts [issued] without tender,” he said in a brief video posted on his Facebook tonight.

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Anwar was responding to a recent report by the United Nations Conference on Trade and Development’s (Unctad) Investment Trends Monitor that shows Malaysia lost foreign direct investment at a worse rate than both its neighbours and the rest of the world during the pandemic-hit 2020. 

Unctad determined that Malaysia’s FDI last year was down 68 per cent from 2019 and amounted to just US$2.5 billion (RM10.1 billion), compared to the Asean region that lost 31 per cent on average to reach US$107 billion.

Globally, all FDI contracted by 42 per cent, going from US$1.5 trillion in 2019 to US$859 billion last year when Covid-19 hit.

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Anwar’s remarks on ministers’ receiving awards was also referring to several Cabinet members being conferred titles by the King in conjunction with this year’s Federal Territory Day, celebrated on February 1.

Among the 355 award recipients includes Housing and Local Government Minister Datuk Zuraida Kamaruddin and Education Minister Datuk Mohd Radzi Md Jidin.