//for onlinte
KULIM: The current uncertainty over the value of the ringgit has not affected foreign investors’ interest and efforts to woo them, said International Trade and Industry Minister Datuk Seri Mustapa Mohamed.
He said the ringgit’s depreciation has instead made Malaysia a more attractive investment destination.
“What is important is currency stability, and our currency is stable. What is happening today is related to the strength of the US economy,” he told reporters after visiting the Kulim Hi-Tech Park (KHTP) here today.
He said last year alone, investments in the country exceeded RM70 billion, of which RM 13.7 billion was for the Northern Corridor Implementation Authority (NCIA).
“But we expect a slight reduction in total investment in manufacturing this year. Of course it is because of the global economic situation, America’s economy is recovering, China’s is slowing down, plus 2014 was an exceptional year.
“It’s very difficult to match this record, we have to face this in our economy, sometimes it’s up and sometimes it’s down, it’s very difficult to sustain,” he said.
Asked on incentives to encourage new investments in KHTP, he said the federal government will focus on providing infrastructure and skilled technical manpower to meet the needs of companies operating in the industrial park. – Bernama