Be wary of investors using us for publicity, says Johari

 

BN’s Titiwangsa MP Johari Ghani said there are investors who are only trying to create the perception that they are expanding their business. (Bernama pic)

KUALA LUMPUR: A former second finance minister has cautioned the government to be wary of investors who sign memorandums of understanding (MoUs) purely for the sake of publicity.

Johari Ghani (BN-Titiwangsa) told the Dewan Rakyat that investments that do not materialise several years after MoUs are signed should be placed on a keep-in-view (KIV) list so other investors could come in.

“Sometimes there are other investors who are interested in coming to our country, but they do not know which investments have already been approved, so they do not want to compete (with others) because our country is small.”

He said this was why the government must be wary of investors that are only trying to create the perception that they are expanding their businesses overseas but could not execute their plans.

“The time spent to approve these investments is crucial,” Johari said.

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