PASIR SALAK, April 1 — The implementation of targeted subsidies in the future, as considered by the government, will not affect foreign investments in the country, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.
He said the implementation, if carried out, would not affect foreign investments because investors have invested for the long term.
The investors focus more on looking at the policies as well as at national policies that are consistent before deciding to invest in this country, he said.
“For example, I mention the semiconductor sector … this sector started in the 1970s and it has been 50 years, and that is the focus for our investors — to see how the country’s policies are. If (the policies are) consistent, they will invest.
“In terms of costs, we are still low compared to other countries because most companies do not receive targeted subsidies. Therefore, even if the subsidies are withdrawn for large companies, they and also investors will compare us with other countries, and our country is still attractive in terms of costs,” he told a press conference after the Ihya Ramadan and Iftar event at Masjid Jamek Al Ansar, Felcra Changkat Lada near here, yesterday.
Tengku Zafrul said this when asked whether the implementation of targeted subsidies that is being considered by the government would affect foreign investments in Malaysia.
Earlier at the event, he presented contributions to a group of asnaf and to prospective Hajj pilgrims.
— Bernama
