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MITI: Malaysia remains preferred destination for global investors

MITI: Malaysia remains preferred destination for global investors

27 Nov 2023

Malaysia remains a preferred destination for global investors despite its differing stance on Palestine-Israel compared to investors’ home countries, said the Ministry of Investment, Trade and Industry (Miti).  

Its Deputy Minister Liew Chin Tong said Malaysia’s strategic geographical position in Southeast Asia, between India and China, allows investors to take advantage of wide market access and a strong investment ecosystem, as well as enjoy the availability of a conducive business environment.

“In terms of the country’s stance, Malaysia does not have any diplomatic relations with Israel, nor direct economic or trade relations. In terms of foreign direct investment (FDI), there is no investment from Israel or Palestine in Malaysia.

“Typically, a company’s investment decision is determined by their management group or board of directors, according to the business plan (business model), as well as the economic and political risk analysis carried out by the company,” he said during a question and answer session in Dewan Negara on Monday.

Liew was responding to Senator Abun Sui Anyit, who wanted to know Miti’s actions, so that the investment agreement made to the government is not affected by the war in the Middle East.

The deputy minister said that currently, post-pandemic and in an environment of global political tensions, companies, especially multinational companies (MNCs), are more inclined to diversify and reduce supply chain risks.

Accordingly, he said Malaysia should take this opportunity to become an important player in the regional and global supply chain.

Liew said the government will continue to mobilise efforts to formulate policies and launch strategies that can strengthen the country’s investment ecosystem, in the face of a dynamic and sensitive economic landscape with global geopolitical turmoil.

“The government always places a high priority on ensuring that proposed investment commitments can be approved and implemented immediately, to accelerate the economic spillover effects to the people and the country,” he said.

Source: Bernama