Political stability key for investments

Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said political stability is key to attracting investments to Malaysia. 

He highlighted that both foreign and domestic investors carefully consider the policies put forth by governments before making significant and long-term investment decisions.

“When I asked the investors why they chose Malaysia and KHTP (Kulim Hi-Tech Park), one of the main reasons was that they needed political stability to ensure we have the right policies in place.

“These are hard to formulate if our politics are unstable.

“Hence, government stability is paramount, and they believe the current government can speed things up (formulating the right policies),” he said, reported NST. 

He said this after officiating the Merbok Umno division delegates’ annual general meeting at the Sungai Petani Municipal Council Tower here today.

Tengku Zafrul stressed that effective cooperation between federal and state governments was crucial for achieving investment goals, regardless of political differences.

“I wish to reiterate that the ministry and I believe my colleagues in the cabinet do not view states under the opposition, such as Kedah, as a hindrance.

“We have good cooperation with the state government to make sure all Kedahans will reap benefits from the country’s economic growth,” he said.

He praised Kulim Technology Park Sdn Bhd’s (KTPC) strategic vision to enhance KHTP’s status as a premier destination for high-technology investments.

“We had a meeting with the KHTP management yesterday, and they have presented a good report since for the first quarter (of 2024) Kedah has attracted about RM31 billion in investments, of which RM30.1 billion went to KHTP, he said.

He additionally mentioned that the investments were enabled by the exceptional leadership of KHTP’s top management team.