INVESTPENANG is urging Putrajaya to reconsider its blanket entry ban imposed on citizens of countries with more than 150,000 Covid-19 cases.

Its director, Lee Kah Choon, said the move will stifle the local economy and affect jobs.

“For instance, 70% of Penang’s foreign direct investment project values for 2019 and the first quarter this year were from companies headquartered in the United States and the United Kingdom, which are now among the restricted countries.

“Due to the travel restrictions on their corporate executives, project implementations are delayed or at risk of being abandoned – dampening potential new job opportunities and benefits to our local economy,” he said in a statement today.

Lee said foreign expertise is needed to install equipment, transfer technical know-how and train the local Malaysian teams, especially in the electrical and electronics industry which contributed 93% of Malaysia’s trade surplus and 38% of total export last year.

The entry ban would defer production ramps, new business qualifications and new product transfers into Malaysian sites, he said.

With no specific time frame, Lee said he feared this would damage Malaysia’s pro-business image.

“This will result in more difficulty to compete for FDI in the future.

“With the multiple changes in policies, unclear criteria and long application processes, it has become literally impossible for investors to plan their businesses in the current environment.

“Our country cannot afford to implement non-science-based policies that will severely disrupt lives and the economy.”

Last Thursday, senior minister Ismail Sabri Yaakob announced an entry ban of foreign citizens from 12 countries, including the US, effective today.

The ban applies to citizens from countries that have recorded more than 150,000 Covid-19 cases. – September 7, 2020.