Foreign investments will spur economic growth, not rob locals of business prospects, Zahid tells Muhyiddin

By LESLIE ANDRES - 12 January 2017 @ 3:16 PM

BEIJING: Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi took a swipe at Parti Pribumi Bersatu Malaysia president Tan Sri Muhyiddin Yassin for claiming investments from China would rob Malaysians of business opportunities.

"Before, when Japan invested in Malaysia, nobody said the Japanese were robbing (economic) opportunities from domestic investors. What about when the Koreans were one of the biggest investors in Malaysia? What about the Singaporeans...are they not robbing domestic investors of opportunities?

"We have to be open... (we have to have) open minds and open hearts by inviting foreign direct investments (FDI)."

Speaking to Malaysian media on the third day of a six-day working visit to China, Zahid said he was of the opinion that, for the sake of the country, differences should be set aside as foreign investments would spur economic growth.

"Economic growth is dependent on the volume of FDI into our country. Of course, domestic investment has to be given priority, but the capacity of domestic investors is limited, especially when it comes to injecting capital for new technology."

Muhyiddin, who has been critical of deals struck between Malaysia and China, was reported to have claimed that Malays and Malaysian Chinese were unhappy that foreign investors from China were "robbing local businesses" of economic opportunities.

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi says foreign investments would spur economic growth. BERNAMA