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Imposition of State of Emergency won’t affect investor confidence — Azmin

Imposition of State of Emergency won’t affect investor confidence — Azmin

17 Jan 2021

The state of emergency previously imposed in the Gerik parliamentary constituency in Perak and Bugaya state constituency in Sabah has proven that such a measure will not weaken investors’ confidence to invest in Malaysia, said Senior Minister Datuk Seri Mohamed Azmin Ali.

The International Trade and Industry Minister said instead, foreign investors would view it as the government’s determination and seriousness in containing the Covid-19 pandemic.

He pointed out that since the emergency proclamation on Jan 12, business activities had continued as usual.

“Investors are more confident of Malaysia’s success by responsibly dealing with the Covid-19 outbreak, so we will continue the effort.

“When we are able to slow down the Covid-19 curve, the country’s economy will recover faster; and if the period is longer, (the impact) will be bigger. That’s why we need a situation whereby an emergency ordinance is decreed by His Majesty (Yang di-Pertuan Agong) with the intention of fighting Covid-19,” he told reporters at the Social Welfare Department office here today.

The Gombak Member of Parliament further explained that the emergency proclamation was aimed at dealing more effectively with the pandemic issue.

“The Attorney General has also given a long detailed explanation at the National Security Council’s (MKN) meeting yesterday to all the chief ministers present, including the Penang Chief Minister, Negeri Sembilan Menteri Besar and Selangor Menteri Besar from the Pakatan Harapan-led state governments.

“We have given the explanation, which was well received by all,” he said in response to some analysts’ claim that foreign investors’ confidence might be affected due to the state of emergency’s implementation.

On Tuesday, the Yang di-Pertuan Agong, Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, consented to the proclamation of a nationwide state of emergency as a proactive move to curb the Covid-19 pandemic.

Meanwhile, Mohamed Azmin said the International Trade and Industry Ministry (MITI) was among the most active ministries in conducting engagement sessions to obtain feedback from industry associations and chambers of commerce.

“We believe we can get good views and it was through the engagements that we were able to submit to MKN a list (of industries) that we felt should be allowed to operate during the current Movement Control Order (MCO 2.0) or Conditional Movement Control Order period. Economic activities must continue, as we do not want it to affect jobs and the country’s revenue, especially Malaysia’s Gross Domestic Product.

“For other (economic) sectors, we hope they will be able to understand the need to safeguard people’s health and safety, as the Health Ministry views that one of the measures to contain the Covid-19 spread is by reducing movements,” he said.

Nonetheless, Mohamed Azmin said, the government would, from time to time, review the list of industries being allowed to operate based on the latest developments and the country’s Covid-19 situation.

“The government is always open-minded. We will get further views and will refer the Heath Ministry for consideration. We will give due consideration to all views,” he said.

Earlier, Mohamed Azmin presented assistance to several family representatives from the district affected by the floods under the post-floods humanitarian aid mission undertaken by MITI and its agencies. 

Source: Bernama