Malaysia remains attractive to foreign investors

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KUALA LUMPUR (Aug 13): Malaysia has remained attractive for foreign investors despite concerns over international crises, including the collapse of the Turkish lira by up to 20 per cent against the US dollar, Finance Minister Lim Guan Eng said.

He said foreign investors were flocking to Malaysia after realising the importance of the Federal Government’s adoption of a policy of accountability and transparency in reforming the country's institutions, as well as being investor-friendly without forsaking the interests of the people.

“Last week was the second consecutive week in which foreign investors became net buyers in the Malaysian equity market.

"Not only foreign investors are confident in the strength of the Malaysian economy. Consumer confidence has also risen and this will support the growth of the country’s economy,” he said when tabling the Supply (Reallocation of Appropriated Expenditure) Bill 2018 for the second reading at the Dewan Rakyat today.

The Bill, which was passed before Dewan Rakyat Speaker Datuk Mohamad Ariff Md Yusof, was tabled following the restructuring of several ministries after the 14th general election.

Lim said among ASEAN economies, the FTSE Bursa KLCI was the only stock market registering a positive run for the year until Aug 10, a gain of 0.5 per cent year-to-date, based on a report received from the Securities Commission.

Meanwhile, he said the Ministry of Finance would table the Sales Tax Bill 2018 and the Service Tax Bill 2018 in the Dewan Negara on Aug 20.

Asked by the media at Parliament lobby on the likelihood that the Bills may not get the Dewan Negara’s approval, he said, "I will answer that on the 20th (of August).”