PAKATAN Harapan will invite Chinese companies to invest in Malaysia, where they will use local resources and labour, said Prime Minister Dr Mahathir Mohamad.

The PH chairman said this is crucial to reduce the country’s borrowings.

“My (upcoming) visit (to China) will be a follow-up to (Council of Eminent Persons head) Daim Zainuddin’s visit.

“We want to invite the companies here, where they will use local resources and labour,” said Dr Mahathir, who is also Bersatu chairman, after the party’s supreme council meeting in Petaling Jaya today.

Dr Mahathir said Malaysia cannot borrow too much money, and must reduce its borrowings.

“The fact is, Malaysia doesn’t have enough money, and we can’t afford it. If we continue, we will be bankrupt.”

Daim was in China to renegotiate contracts on behalf of Malaysia. He met with Chinese Prime Minister Li Keqiang and Foreign Minister Wang Yi in Beijing, following Putrajaya’s move to suspend the East Coast Rail Line (ECRL) project.

The former finance minister’s visit was to discuss Malaysia-China projects that were badly negotiated by the previous Barisan Nasional government. He also delivered a letter from Dr Mahathir to Li.

Dr Mahathir has confirmed that he will make a trip to China next month, but no dates have been set for the state visit.

Two days ago, Malaysian Anti-Corruption Commission officers raided companies linked to three projects with Chinese involvement – ECRL, Multi-Product Pipeline and Trans-Sabah Gas Pipeline.

The PH government has revealed that the pipeline projects, which have been suspended, were among the over-inflated projects by the previous administration. – July 20, 2018.