Prime Minister Dr Mahathir Mohamad has accused the previous BN government of being inefficient and corrupt, pointing out that China investors were asked to give 30 percent of shares to certain people.
He said this during the China Entrepreneur Club Leaders Forum at China World Summit Wing Hotel in Beijing today.
Mahathir was asked by one of the Chinese entrepreneurs during the forum that the business community in China was worried about the procedures of doing businesses in Malaysia.
"I think, the new (Pakatan Harapan) government has taken over less than three months ago. So, the policies of the old (BN) government were what resulted in that government being difficult because that government was not efficient, it was corrupt.
"There were cases where investors were asked to give 30 percent of the shares to certain people.
"That is why there would be delays because people were trying to extract money from investors," he said.
The prime minister gave assurances that the government will not allow such practices and shared new ways to improve efficiency and speed up approvals for investors doing business in Malaysia.
"They (government agencies) have to follow a certain pattern and they are given a certain time to make the decision.
"If they don't, they will be asked why. Why did you reject and why we did not approve? They will have to answer those questions."
Mahathir reassured that when Chinese businesses invest in Malaysia, there will be no attempts to squeeze or get money out of them before approval.
He said when the approval conforms with the conditions set out by the country, the investors will get their approval as soon as possible.
"I hope what happened to you will not happen (again). But if you still have complaints, you're welcome to send them to me personally." - Mkini
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