00:00Well, we are told that there are very big FDI coming in, Microsoft and Apple and all
00:11that.
00:12But on the ground, nothing is happening.
00:14Former Prime Minister Dr Mahathir Mohamad remains sceptical of the government's claims
00:18of increased inflow of foreign investment.
00:22We don't see any progress being made.
00:25So until we see them doing that, only we can take the proposal seriously.
00:32Instead, he said many of the government announcements were just memorandums of understanding, not
00:38actual investment agreements.
00:40In March, Prime Minister Anwar Ibrahim announced that Malaysia attracted potential foreign
00:44investments worth 76.1 billion ringgit as of March this year, thanks to successful trade
00:50and investment missions with several countries.
00:53Nonetheless, Mahathir expressed scepticism whenever the government announces FDI agreements
00:58while overseas, questioning whether the amounts announced can be made a reality.
01:03We have to wait for them to actually start working on the ground.
01:09There are promises.
01:12Promises need not be implemented.
01:15Maybe if you talk with them, they say, well, we may want to invest.
01:22At this moment, we don't see any investment.
01:26Mahathir, who was once a finance minister, said alongside the lack of FDI, Malaysians
01:31were suffering from a weak economy due to higher taxes, a weakening ringgit and subsidy
01:36rationalisation.
01:38Some of them, I don't know why, but they are at their wits' end to feed their own family.
01:48There have been cases of suicide even, and a lot of strange crimes being committed because
01:57people are desperate.
02:00They don't have a good income or enough income to support their family.
02:08So I think the economy, from the point of view of many people, is not doing well.
Comments