Efforts to restore economy paying off, says Dr M

LONDON: Prime Minister Dr Mahathir Mohamad today credited the Pakatan Harapan (PH) government’s efforts to mend the damage done under the previous administration and put Malaysia’s economy back on track with attracting foreign investments to the country.

Although foreign investors have expressed concern over the state of affairs surrounding the country’s huge debt, Mahathir said the government was now restoring the situation, including by reducing loans.

“The country is on the path to recovery and will (subsequently) have a good investment climate.

“After recovery, (Malaysia) will be more conducive to investments,” he told Malaysian journalists before ending the second leg of his working visit to the UK.

While in London, Mahathir met several businessmen based in the UK, including some who were operating in Malaysia.

The prime minister also said several foreign investors were shocked when told that Malaysia’s debt was reported to have breached RM1 trillion. However, Mahathir said he had explained to them the government efforts to turn the country’s finances around.

“I explained that the government has managed to reduce the debt level and the situation is very conducive to new investments now.

“Malaysia likes to have very cordial relations with the private sector as we consider them a partner in developing the country,” he added.