TRANSPORT Minister Dr Wee Ka Siong’sw cabotage policy has caused Malaysia to lose billions of ringgit in investments, said Lim Guan Eng.

The former finance minister said the reinstatement of the cabotage policy had caused Facebook and Google to bypass Malaysia for Singapore and Indonesia.

“Even the Malaysia Digital Economy Corporation (MDEC) has called for the restoration of the cabotage exemption for foreign vessels undertaking submarine cable repairs,” Lim, who is also DAP secretary-general, said in a statement.

He cited MDEC chairman Dr Rais Hussein saying that the three new cables, worth around RM12-RM15 billion, originally planned to land in Malaysia, are now under review.

The cabotage exemption was approved by Pakatan Harapan’s transport minister Anthony Loke Siew Fook. The exemption allowed foreign vessels easier and faster access to Malaysian waters to perform undersea repair jobs. 

“However, in November 2020, Wee had revoked the exemption for submarine cable repair, and dismissed the claims that it would affect investments,” said Lim

According to Lim, Rais blamed Wee’s decision for causing Malaysia to be sidelined by Facebook and Google. 

“Rais had also strongly rebutted Wee’s claims that Malaysia was bypassed in several undersea cable projects because it lacked the appropriate data centre infrastructure.”

Lim asked if Wee was willing to reverse his decision that had caused Malaysia so much loss.

“In a huge blow to our digital economy, IBM will close down its RM1 billion information technology (IT) Global Delivery Centre in Cyberjaya by end of May, extinguishing 1,000 highly skilled jobs. 

“Is Wee indifferent to the loss of such FDIs, particularly the United Nations Conference on Trade and Development report that foreign investment inflows in Malaysia fell by 68%  to USD 2.5 billion last year, the worst decline in Asean?” – April 10, 2021.