We cannot live on our own,” Mustapa, 66, told reporters after presenting momentos of appreciation to 13 multinational corporations that committed investments worth a sum of RM2.94 billion in the country last year. Responding to a question on criticisms that the government is allowing certain foreign investments, particularly those from China’s state-owned enterprises, Mustapa said: “Then what about Malaysian companies investing abroad?”“Malaysian firms are big in China and Canada for instance. For the record, we have more Malaysian investments overseas than the foreign direct investments in this country, and this is the point that needs to be driven home,” he lamented. “The fact is, Malaysia is a small market and the world is a global marketplace that it depends and relies on. Last year, Prime Minister Datuk Seri Najib Razak visited China and signed 14 agreements, which will see RM144 billion worth of investments flow into Malaysia.

Source: The Edge Markets March 02, 2017 01:07 UTC