Decision to review projects will not affect FDI inflow, says Muhyiddin

Foreign direct investment (FDI) inflow into the country will not be affected by the government’s decision to review and shelve some projects, including those in the economic corridors, due to the global economic slowdown, International Trade and Industry Minister Tan Sri Muhyiddin Yassin said today.

He said the decision to review the projects was related to those involving government expenditure and not those from the private sector.

“If there are those in the private sector keen to invest, they can do so as a large portion of the component cost in investment involves the private sector and not the government,” he told reporters after officiating the Eisenhower Fellowships Regional Conference here.

Muhyiddin said the government’s decision should not reduce the interest of foreign and local investors to take part in the development of the economic corridors.

According to him, there are still plenty of prospects for investors in the south, north and east coast of Peninsular Malaysia as well as in Sabah and Sarawak.
Yesterday, Prime Minister Datuk Seri Abdullah Ahmad Badawi said the government would review several projects, including those in the economic corridors, due to the global economic uncertainty.

He said for projects in which work has yet to start, the government might consider postponing them for the time being.

source: Decision to review projects will not affect FDI inflow, says Muhyiddin
New Straits Times, Malaysia