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apple developer:YOURSAY | FDI exodus: Malaysia is fast losing its competitive edge

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YOURSAY | ‘Azmin and the PN govt care only about their immediate political survival.’

Azmin's 'casual attitude' to FDI exodus highlights govt disconnect, says Anwar

Kim Quek: United Nations Conference on Trade and Development’s (Unctad) announcement of Malaysia’s drastic plunge in foreign direct investment (FDI) has sent shock waves across a country whose economy has been badly mauled by the Covid-19 pandemic.

But not to Malaysia’s senior minister overseeing foreign investments Azmin Ali, who casually attributed it to his government’s policy of accepting only high-end investments.

The truth, as mentioned by the EU-Malaysia Chamber of Commerce and Industry (Eurocham), is the horrible investment climate of the country under the Perikatan Nasional (PN) rule.

The bumbling rule of this backdoor government has not only deterred FDI but has literally caused capital flight as indicated by a spate of multinational corporations (MNCs) leaving the country.

At the rate things are deteriorating under the incompetent administration of this backdoor government, the country will soon meet its Waterloo, unless there is a change of government soon.

JackJack: It is very worrying when so many MNCs are leaving the country. It sends a message to the world business community that things are not right in Malaysia.

Any multinationals who are thinking of putting their money in this country now will have second thoughts. I am sure IBM will not be the last. Many more will leave. This country under this unstable government is doomed.

BluePanther4725: Indeed, the incompetency of the backdoor PN government is scaring away all the foreign investors from Malaysia.

It is very irresponsible of Azmin as the international trade and industry minister to take this problem lightly. People lives are going to suffer even more and yet Azmin doesn't even care.

Another Komentar: How to attract "quality" investments in the hyper-competitive world when Malaysian talents and knowledge workers are being forced to work, or even emigrate, overseas?

While systemic race-based policies may be justified for Malaysian domestic political consumption, human capital and investments always go to countries where talents and investments are rewarded based on merit, performance and sound business principles.

Azmin and the current government care only about their immediate political survival and their personal interests, not the economic future of Malaysia.

Goliath: Labour-intensive industries are the ones that create jobs for many Malaysians who may not afford educational qualification. These do not necessarily rely heavily on foreign workers if targeted groups of Malaysians can be prepared in advance to handle those jobs.

Working with Amazon, Microsoft and Google to build data centres are the kind of jobs that rely heavily on skilled workers with qualifications from expensive education needs.

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