We will ensure investors’ confidence is restored, says Azmin

Economic Affairs Minister Mohamed Azmin Ali.

KUALA LUMPUR: Economic Affairs Minister Mohamed Azmin Ali today reiterated Putrajaya’s commitment to ensuring a business-friendly environment, saying it is the role of the government to facilitate investors’ confidence in the country.

Speaking to reporters at the Parliament lobby, he said the biggest challenge would be to restore the confidence of both domestic and foreign investors in Malaysia.

“That would be the key challenge,” he said.

However, he said the situation had improved following the initiatives by the prime minister and the Cabinet over the past few months.

He added that investors had faith in Malaysia as they wished to come back and invest again.

On a separate issue, he said there was no progress yet on the third national car project as the matter was still under discussion.

“I mentioned this in the Dewan Negara just now. It’s not about building the car.

“The main objective is to enhance our engineering capacity to build a new eco-system. This involves a lot of innovation and new technology.”

Azmin added that the government would continue to discuss the issue with stakeholders, saying it was hopeful that a prototype could be prepared by next year.

He said the government had received more than 24 proposals from the private sector, and that there were Malaysians who were currently abroad but who had voiced interest in returning to contribute to the project.

“They are interested in coming back and putting their ideas and knowledge into a new proposal which will be good for the country.

“We are bringing these talents back to Malaysia,” he said.

Entrepreneur Development Minister Mohd Redzuan Yusof was previously reported as saying that the new national car project was expected to roll out its first model before 2020.

He said the semi-autonomous car was planned for entry into the global market and would cater to the demand from young people.