Dec 5, 2006

M'sia's Economy Unaffected By Dr Mahathir's Criticism - Husni

KUALA LUMPUR, Dec 5 (Bernama) -- Former prime minister Tun Dr Mahathir Mohamad's criticism towards the government has not adversely affected the country's economy, the Dewan Rakyat was told Tuesday.

Deputy International Trade and Industry Minister Datuk Husni Hanadzlah said that in terms of investment, companies that had invested in the country were credible.

Between January and September this year, Malaysia had approved investments totalling RM13.9 billion compared to RM10.4 billion in the same period last year, he said.

"It showed a 39.7 per cent increase. Of the total, 60 per cent were new investments and 40 per cent were for expansion. If this is used as a factor, Tun Mahathir's criticism has not adversely affected the country's economy.

"I see this from the perspective of investments that have come to our country," he said in reply to Ismail Mohamed Said (BN-Kuala Krau).

Husni said companies that invested or wanted to invest in a country normally looked at three factors, namely the political risk, business risk and financial risk.

He said political risks could discourage investors if there were issues that could bring about economic instability and political instability and hamper investment flows and activities in the country.

"For our country, the three factors are strong enough," he said.

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