Business leaders: Malaysia still attractive for foreign and local investors

KUALA LUMPUR: Malaysia’s steady economic growth makes the country an attractive destination for foreign investors, according to foreign and local business leaders at the Asean Business Leaders Conclave.

They noted that while the weaker ringgit was a cause for concern, the country’s longer-term outlook remains favourable.

“The prospects for Malaysia going forward are positive,” real-estate investment firm Bonds Group of Companies’ chairman and chief executive officer Anson Chan said.

Chan, who is based in Hong Kong, is on a visit to scout for real estate opportunities. Apart from Malaysia, Chan is also positive on Vietnam and Thailand.

Meanwhile, Berjaya Corp Bhd founder Tan Sri Vincent Tan said there were plenty of opportunities for foreign investors to invest in Malaysia.

“Malaysia still presents good stability and its economy was still performing relatively well,” he said at the business networking event.

He also said that the weaker ringgit was not negative for the economy.

“The weakening ringgit is not negative as I recall the last global financial crisis when the ringgit was pegged at RM3.80 and we experienced trade surpluses that eventually led to savings. We just have to import less expensive things and export more,” he said.

Meanwhile, Saudi Arabia’s Nesma Holding president and chairman Saleh Al Turki also echoed similar views.

He applauded Malaysia’s education system that had grown tremendously over the last few years.

“The Saudis are now coming over to Malaysia because of its education system,” he said, adding that Malaysia’s growth of about 4.5% was one of the performers among other developing nations.

Saleh, who invests in Malaysia via investment funds said the growth factors in the country were still positive.

More than 350 foreign delegates attended the Asean Business Leaders Conclave launched by Prime Minister Datuk Seri Najib Tub Razak here yesterday.

The event was aimed at bringing Asia’s foremost business leaders to discuss ways to ensure the region remained the most thriving centre for trade in the world. – The StarOnline