KUALA LUMPUR: Investors from China will continue to invest in Malaysia as the newly-elected Pakatan Harapan government offers favourable business environment and political stability.
Malaysia-China Chamber of Commerce (MCCC) president Tan Yew Sing said the change of government was done peacefully, prompting more China investors to look for more conducive business environment.
"In the long run, I think Malaysia will be more competitive and effective. For example, anti-corruption initiative would mitigate corruption in the country.
"Corruption is a business cost to people. If a country can have an independent judiciary to minimise corruption, I think investors would like it,” he told reporters after meeting with the Council of Eminent Persons here today.
The new government has been conducting investigations involving the previous government and private entities.
Tan said China investors would observe the local market, citing that some of them would return once the Malaysian government was efficient with transparent business policy and no tolerance for corruption.
"Malaysia is blessed with multi racial, religion and culture people. We have brought in groups that link to three new emerging markets – China, India and Islamic markets like Malaysia, ” he added.
He said China’s investment to Malaysia was important just like any other foreign investments here but it might be reviewed to benefit both parties.
“Overall, investment decision is welcomed but the benefits have to be given to Malaysia equally. We also have to protect Malaysian interest from foreign investments,” he said.
During the meeting, Tan said MCCC had also discussed the East Coast Rail Link (ECRL) and China’s property investments here.
He said MCCC would submit its final report on the issues addressed to the council within one to two weeks.
“There were a few focuses that we have briefed. We wanted feedback of the Malaysian economy to attract foreign direct investments,” he said.