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Industries drawn to invest in Malaysia due to political stability — PM

Industries drawn to invest in Malaysia due to political stability — PM

23 Nov 2023

The political stability enjoyed under the Unity Government over the past year has attracted many global industrial giants to invest in Malaysia, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar, who is also the Finance Minister, said companies like Google, TikTok, Infineon Technologies AG, China’s automotive company Geely, and Tesla have confidence in Malaysia’s capability because the country has clear policies.

“I asked them what is special about Malaysia. Now, Alhamdulillah, the politics is stable. This political stability helps give confidence to them; there are clear policies, which is called clarity of policies.

“It means they know, they come here, this is the economic policy, this is the industrial policy, this is the Madani economy, this is the energy transition. I am grateful that Malaysia has gained attention again after lagging behind for some time,” he said.

Anwar was speaking at the launch of the Prime Minister’s Gold Hand Award (MATEPM) and Skilled Person Award ceremony at the Shah Alam Convention Centre (SACC) today.

Also present were Human Resources Minister V. Sivakumar, Deputy Works Minister Datuk Seri Abdul Rahman Mohamad, Chief Secretary to the Government Tan Sri Mohd Zuki Ali, and Public Services Department (PSD) director-general Datuk Zulkapli Mohamed.

He said the government would be more aggressive and assertive in bringing changes to save the country and raise its dignity in the region by attracting more investors, managing the economy well, training the children, and having good governance.

“This country can no longer be known as one that tolerates corruption and embezzlement; every fund must be used properly at all levels, from the Prime Minister down,” Anwar said.

He added the current political stability would also make it difficult for certain parties “harbouring” hopes of taking over the government now.

At the same time, Anwar also ticked off those who argued about the difference of religion and race but never bothered about the future of the children, including Technical and Vocational Education and Training (TVET) graduates.

As such, he wants the Industrial Training Institutes (ILPs) and related agencies to provide adequate skill training, especially at the highest skill level, following comments from investors on the need for the highest skills of workers in the country to be improved.

“Geely considers the performance value of workers in Malaysia as very good and satisfactory, the level of professionalism as good. There is only one problem, which is that the high skill level is, at times, lacking,” Anwar said.

Touching on his vocal support for the issue of Palestine, the Prime Minister admitted that he speaks out on the international stage, representing all Malaysians, although it is difficult.

Anwar also slammed the actions of a few parties in the country, which he labelled as discordant voices continuing to attack him regarding the issue.

“I am not asking for gratitude. Even if do not want them to thank me, just do not criticise anymore,” he said.

Although vocal in voicing the Palestinian issues when he attended the 30th Economic Leaders’ Meeting of the Asia-Pacific Economic Cooperation (APEC) in the United States (US) recently, Anwar said it did not affect the decisions of major corporations, including from the US, to continue investing in Malaysia.

He said the Global Infrastructure Partners (GIP) company has also decided to jointly take up equity to expand the ports in the country, including the Tanjung Pelepas Port in Johor.

Source: Bernama