05-04-2021, 10:17 AM
PETALING JAYA: Senior minister for economy Azmin Ali’s remark that the country was being more selective in accepting investments is “the most stupid statement”, says former trade minister Rafidah Aziz.
She said the reality was that neighbouring countries were now more attractive in terms of their investment environment.
Last month, Azmin had denied that Malaysia was losing out on foreign investments to its neighbours, and said the country has become more selective in its investment agenda and wanted to attract quality investments.
Rafidah, who was Malaysia’s longest-serving international trade minister, responded: “That’s the most stupid statement to make. As if we have all these people wanting to invest (in Malaysia). My goodness, we don’t talk like that.
“People will say ‘go to hell’. Your neighbours are more attractive in terms of their investment environment, not because we are selective. The investors don’t want us.”
In January, it was reported that foreign direct investment inflow into Malaysia dropped by 68% in 2020, a larger decline compared to regional neighbours like Singapore, Indonesia and Vietnam.
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