Economic Affairs Minister Datuk Seri Mohamed Azmin Ali, said Malaysia welcomes foreign direct investment (FDI) from any country, including China, as it benefits the country through capital, technology, value creation, jobs and skills transfer.
“We want to ensure that foreign investors will use Malaysia as their final destination to park capital and investments, and certainly that will push the growth of our economy,” he told reporters after launching a joint publication entitled ‘China’s Belt and Road Initiative (BRI) and Southeast Asia’ by the CIMB ASEAN Research Institute and LSE IDEAS today.
Azmin said Malaysia will have much to gain from the BRI which will help bridge the infrastructure and connectivity gap between Malaysia and ASEAN countries.
“I concur with the notion in the report that the BRI should not become a win for just one country, but instead a success for all, just as how President Xi (Jinping) has called the BRI project ‘a road for peace’,” he said.
Azmin added, however, that FDI coming to Malaysia must abide by and respect the policy that has been set, and must create value and opportunities for locals.
Until August 2018, imports from China to Malaysia totalled RM116.9 billion, the highest among all trading nations, while exports to China totalled RM89.3 billion, also the highest among the other countries.