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Malaysia in search of quality FDI

Publication Date : 24-05-2012

 

Malaysia is now more selective in looking for “quality foreign direct investments (FDI)” in the quest to turn the country into a high-income nation.

The country was looking for “not just any FDI, but quality FDI'” such as investments that bring in high technology, green and alternative energy technologies as well as knowledge-intensive industries, Prime Minister Najib Tun Razak said yesterday.

His speech was read out at a gala dinner held in conjunction with the second Asia-Pacific Economic Cooperation (Apec) Business Advisory Council (Abac) 2012 Meeting at the Kuala Lumpur Convention Centre last night.

Deputy Prime Minister Tan Sri Muhyiddin Yassin read out the premier's speech.

Najib said the government was also focused on achieving three other objectives to adopt a culture of competitiveness and innovation, to take advantage of opportunities offered by globalisation and to transform the nation.

“To make the transition from developing to developed status, we need to change the way we think and do things,” he said.

Najib added that Malaysia had also chosen to “open doors” to the opportunities presented by globalisation.

“We believe in free trade and the dismantling of protectionist barriers,” he said.

On another matter, he said Malaysia always viewed Abac as having an important role to play in the Apec forum.

“Abac's practical approach to problem-solving is reflected in its chosen theme, 'From Aspiration to Reality'. It focuses on achieving results and converting ideas into outcomes that have a real impact,” Najib said.

 

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