Good governance will rake in more foreign investment, says PM Anwar Ibrahim

Malaysian Prime Minister, Anwar Ibrahim has stressed on the importance of good governance in order to boost foreign direct investment and national revenue.

According to Bernama, PM Anwar referenced the positive growth in Malaysia’s GDP in the first quarter of 2023, which overtook that of China, Vietnam and Indonesia. He said that greater trust in the government to not embezzle, steal, take commissions but rather to act in public interest will encourage international companies to invest and create more jobs in Malaysia.

With more jobs, inflation rates and deficits will drop, giving rise to a higher revenue.

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This rings true as Malaysia recently saw global tech companies such as Amazon Web Services (AWS) and Tesla found a new home in Malaysia this year. AWS is planning a RM25.5 billion investment into Malaysia by 2037. The launch of the infrastructure aims to give developers, start-ups and entrepreneurs, enterprises the government and who have you, a greater choice for running their applications and serving end users from data centres located in Malaysia.

With Tesla’s presence in the country, Malaysia is expected to see the growth of better paying job opportunities for workers in the Battery Electric Vehicles (BEV) segment. Malaysia’s pro-trade, pro-investment and pro-industry stance clearly seems to be paying off. The Ministry of International Trade & Industry (MITTI) aims encourage FDI with enhanced efforts to improve the ease of doing business in the country.

Along with better governance, a stronger economic ecosystem to continue attracting more investment.

Reported by Bernama, MP of Subang said at the Unity Government National Convention 2023, that the country is facing the challenge of competitive pricing and technology from Chinese products. The one advantage they have over China, he stated, was the lower labour cost. However, the caveat of being too reliant on foreign workers still stood true.

The MP of Titiwangsa, Datuk Seri Johari Abdul Ghani went on to add that a government should have credibility and integrity in the eyes of the people and be competent and have the experience to administer the country. 

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