ID :
32511
Wed, 11/26/2008 - 15:50
Auther :
Shortlink :
https://oananews.org//node/32511
The shortlink copeid
NO FOREIGN INVESTOR HAS LEFT MALAYSIA, SAYS MITI
KUALA LUMPUR, Nov 26 (Bernama) -- No foreign investor has ceased plant operations in Malaysia and moved to another country, the Lower House of Parliament was told Wednesday.
The Deputy Minister of International Trade and Industry Liew Vui
Keong said that neither had there been capital flight for that reason.
"This year, no foreign investor was reported to have ceased operations and
moved elsewhere," he said in reply to a question from Teo Nie Ching, the member
of Parliament for Serdang.
Serdang is a large developing town in southern Selangor in
Malaysia.
Teo had asked the Ministry to state the number of foreign investors and the
amount of money that had left Malaysia to date, this year.
"According to the United Nations Conference on Trade and Development 2008
report,it was found that though foreign direct investment in Malaysia had
increased to RM29 billion (US$1=RM3.62) in 2007, the outflow of capital reached
RM38 bilion at the same time," said Teo.
Liew said that the outflow of investment had been identified as
"cross border investment", where companies in Malaysia took the opportunity to
investment overseas.
"This is a very positive feature for the country," he added.
Meanwhile, Ismail Kasim, the member of Parliament for Arau asked the
Ministry to state its strategy for making Malaysia the gateway for the Asean
region.
Arau is the royal capital of Perlis in Malaysia. It is located in
Peninsular Malaysia, 14 kilometers southeast of the official state capital of
Kangar.
Liew stated that among the measures being taken included creating a
condusive investment climate through liberal and transparent policies to provide
confidence for foreign investors.
He added that the government was also focusing on high technology
industries
and was encouraging foreign companies based in Malaysia, to change and diversify
their operations by offering physical incentives.
He said that apart from this, the government had launched five development
corridors in Malaysia as an added attraction for foreign investors.
The Deputy Minister of International Trade and Industry Liew Vui
Keong said that neither had there been capital flight for that reason.
"This year, no foreign investor was reported to have ceased operations and
moved elsewhere," he said in reply to a question from Teo Nie Ching, the member
of Parliament for Serdang.
Serdang is a large developing town in southern Selangor in
Malaysia.
Teo had asked the Ministry to state the number of foreign investors and the
amount of money that had left Malaysia to date, this year.
"According to the United Nations Conference on Trade and Development 2008
report,it was found that though foreign direct investment in Malaysia had
increased to RM29 billion (US$1=RM3.62) in 2007, the outflow of capital reached
RM38 bilion at the same time," said Teo.
Liew said that the outflow of investment had been identified as
"cross border investment", where companies in Malaysia took the opportunity to
investment overseas.
"This is a very positive feature for the country," he added.
Meanwhile, Ismail Kasim, the member of Parliament for Arau asked the
Ministry to state its strategy for making Malaysia the gateway for the Asean
region.
Arau is the royal capital of Perlis in Malaysia. It is located in
Peninsular Malaysia, 14 kilometers southeast of the official state capital of
Kangar.
Liew stated that among the measures being taken included creating a
condusive investment climate through liberal and transparent policies to provide
confidence for foreign investors.
He added that the government was also focusing on high technology
industries
and was encouraging foreign companies based in Malaysia, to change and diversify
their operations by offering physical incentives.
He said that apart from this, the government had launched five development
corridors in Malaysia as an added attraction for foreign investors.
