Boost in FDI good sign for economy, says Guan Eng

Boost in FDI good sign for economy, says Guan Eng

Last year, FDI was RM14 billion, but for the first nine months of this year, it was RM49 billion, almost a four-fold increase, he says.

Finance Minister Lim Guan Eng.
GEORGE TOWN:
The government is on the right track to revive the economy, says Finance Minister Lim Guan Eng.

“It is certainly not an easy task. We need quite a long time,” Bernama reported him as saying after opening the Smart Green Community programme in Air Itam here today.

Lim said in Budget 2019, the government had set a three-year period to improve the economy and deal with the country’s debts amounting to RM1 trillion.

He was happy to note that a Bloomberg report stated Malaysia was top among emerging markets because of its current account surplus and relatively stable economic growth outlook.

“If we look at the amount of foreign investments coming into Malaysia for the first nine months, it is encouraging.

“Last year, it was about RM14 billion, but for the first nine months of this year, it was RM49 billion, almost four-folds.”

He said this is a very good sign indicating increasing confidence in Malaysia by other countries under the leadership of Prime Minister Dr Mahathir Mohamad.

In another development, Lim called on former prime minister Najib Razak not to blame him for the sale by Khazanah Nasional Bhd of a 16% stake in IHH Healthcare Bhd to Mitsui & Co Ltd.

He said all Khazanah’s affairs were under Mahathir.

”Datuk Seri Najib has made a statement against me. I think he is wrong in this matter as this is not under me, as Khazanah affairs come under the prime minister.”

Asked on the planned gathering by the opposition on Dec 8 in connection with the International Convention on the Elimination of the Discrimination of Racial Discrimination (ICERD), Lim said the parties concerned should heed the advice of the authorities.

“Personally, I think anyone who wants to hold a peaceful assembly is allowed, but in the current conditions, I think it is not suitable,” he added.

Last Nov 23, the Prime Minister’s Office said the Pakatan Harapan government would not ratify the ICERD and would continue to uphold the Federal Constitution which contained the social contract that had been agreed upon by representatives of all races during the formation of the country.

PAS and Umno have also announced their intention to participate in the gathering, which is expected to draw thousands of people.

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