Little happening on the ground despite FDI talk, says Dr M

Free Malaysia Today

The former prime minister remains sceptical, cites major firms relocating to other countries and slow progress on investment agreements.   Read More: https://www.freemalaysiatoday.com/category/nation/2024/06/24/little-happening-on-the-ground-despite-fdi-talk-says-dr-m/   Laporan Lanjut: https://www.freemalaysiatoday.com/category/bahasa/tempatan/2024/06/24/banyak-pengumuman-fdi-tapi-tiada-apa-berlaku-kata-dr-m/   Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------  Check us out at https://www.freemalaysiatoday.com  Follow FMT on Facebook: https://bit.ly/49JJoo5  Follow FMT on Dailymotion: https://bit.ly/2WGITHM  Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h  Follow FMT on TikTok : https://bit.ly/3uKuQFp  Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX  Follow FMT LinkedIn - https://bit.ly/42YytEb  Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj  Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------  Download FMT News App:  Google Play – http://bit.ly/2YSuV46  App Store – https://apple.co/2HNH7gZ  Huawei AppGallery - https://bit.ly/2D2OpNP   #FMTNews #DrMahathir #FDI #AnwarIbrahim

Transcript

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.

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