A TRADE association wants Malaysian businesses to be given preference as the new government reviews foreign investments, including China’s, in the country.

Malaysia-China Chamber of Commerce president Tan Yiew Sing said it was understandable that Pakatan Harapan should review foreign investments as long as the result was “beneficial” to Malaysians.

“Our position is that investment is welcome. But we also accept that it must benefit Malaysia equally.

 “We have to protect our Malaysian interests,” he said after meeting the Council of Eminent Persons today.  

Tan said investments must benefit local human resources and local technologies and effect technology transfers.

Tan said he was encouraged by the government’s resolve to weed out corruption: “Corruption is a business cost to the people. If a country has judiciary independence, I feel that corruption can be minimised.”

“The investors would like it. Investors like a very stable political situation and a favourable investment environment.

Tan said as a trading nation, Malaysia needed to be mindful of the Chinese, Indian and Islamic markets.

“With such a background, how can Malaysia fail? Malaysia cannot fail. We just need a government that is efficient. We need business policies that are transparent and a judiciary that is independent.” – May 24, 2018.