PKR rep: Govt should address stinging criticism or foreign investors will leave

 

PKR's Semambu assemblyperson Lee Chean Chung has warned the Perikatan Nasional (PN) government that Malaysia will no longer be a top destination for investors if it does not address their criticisms and the country's structural problems. 

Lee (above) said the recent complaints from the German and Japanese chambers of commerce on the changing standard operating procedures (SOPs) have tarnished the country’s image and reputation on the international stage.

“Such complaints are serious and never happened before.

“However, the PN government still does not take the matter seriously, instead it continues to deny its failure in handling the Covid-19 pandemic and accuse certain parties of deliberately tarnishing the PN government’s image,” he said in a statement today. 

The PKR treasurer opined that structural problems have existed for decades in the country, and said drastic reforms and changes are needed during the pandemic to keep the country’s economy flexible and competitive.

“However, it's sad that the PN government is only busy with asking businesses to apply for permission to operate, with changing SOP and categorisation,” Lee added.

Before the pandemic happened, Lee explained, investors would evaluate the country based on the political situation, social environment, and infrastructure development to determine their investing decision.

But the pandemic has brought new indicators for investors to decide on their investment destination, he said, including each government’s level of management and its ability to respond to the pandemic.

“Based on the indicators above, it is clear the government’s performance is unsatisfactory.

“If those structural problems aren’t solved, I’m worried that Malaysia will no longer be among the top destinations for foreign investors to invest in the future,” he added.

Lee said the PN government promised to fight the pandemic and save the economy, ever since an emergency was declared in January. 

“But the Covid-19 situation has only worsened, and the government is only busy politicking.

“Under this kind of situation, even if all cabinet ministers are promoted to senior ministers, it still won’t bring any benefit towards the country’s development and progress,” he added. 

Last week, Senior Defence Minister Ismail Sabri Yaakob was appointed by Prime Minister Muhyiddin Yassin as the deputy prime minister, while Foreign Minister Hishammuddin Hussein was promoted to senior minister to take over Ismail’s security portfolio.

The promotion of two ministers came amid a political power tussle between Umno and Bersatu for the leadership in Putrajaya, while record Covid-19 cases and deaths were recorded in recent weeks, prompting critics to question the government’s priority.  - Mkini