Home Investment PM: 1MDB Issues Have Not Affected Foreign Investment

PM: 1MDB Issues Have Not Affected Foreign Investment

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KUALA LUMPUR: The publicity surrounding 1Malaysia Development Bhd (1MDB) has not deterred foreign investment into the country.

Prime Minister Datuk Seri Najib Razak said Malaysia continues to draw foreign investment, reflecting investor confidence in Malaysia’s economic growth.

“The foreign investors are here for the long-term. They have taken into account strong economic growth and macro-economy, including low unemployment rate and high savings.

“Our international reserves are adequate and government loan is under control,” he said in a written reply in Parliament today.

Najib, who is Finance Minister, was replying to a question from Datuk Abdul Aziz Sheikh Fadzir (Umno-Bandar Baru Kulim).

Aziz had asked on the government’s reaction on the 1MDB issue, and the accuracy of information distributed to Malaysians and the international community.

Aziz had also asked if the 1MDB issue had affected foreign investment into the country.

Najib said recent statistics showed that investors have faith in the country.

“This confidence is reflected through Foreign Direct Investment totalling RM22.4 billion in the first quarter of 2015,” he said.

He added this was higher compared to RM17.5 billion recorded in the second half of 2014.

Najib said investment approved by the Malaysian Investment Direct Authority (MIDA) in the first quarter of this year amounted to RM113.5 billion, compared to RM112 billion in the same period last year.

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