Poor FDI performance due to political bickering: Leiking

Kota Kinabalu: Warisan on Friday cautioned Perikatan Nasional (PN) and Muafakat Nasional (MN) over their inter-bickering and excessive usage of racial and religious sentiments as political themes that could potentially destroy the country.

Its Deputy President, Darell Leiking (pic), said the bickering between Umno, Bersatu and PAS may very well be the reason why top global investors and multi-national corporations (MNCs) are reluctant to come to the country, resulting in Malaysia trailing Indonesia and the Philippines in terms of Foreign Direct Investments (FDIs). 

“No right-minded foreign investor will want to spend billions of ringgit in a country where a non-democratically mandated ruling coalition continue to fight among themselves even after taking over a legitimate Government that was overthrown. 

“The reluctance by this same ruling coalition to allow the Parliament to re-convene will only serve to reinforce the foreign investors’ perception that the country is now ruled by a junta. 

“So it is no surprise that Indonesia and the Philippines are now the new preferred investment destinations by MNCs as Umno, Bersatu and PAS cannot provide the stability and clarity in terms of policies that these investors want in the first place,” he said in a statement, here, March 26. 

Leiking, who was the former Minister of International Trade and Industry, also said that the excessive usage of racial and religion as political themes by PN is not helping in rejuvenating the country’s economy. 

“This is not the right time to talk about race and religion – we need to save and rejuvenate our economy because hundred of thousands of ordinary Malaysians irrespective of whether he/she is a Malay, Chinese, Indian, Dayak, KadazanDusunMurut (KDM) or Bajau have already utilised their Employment Provident Fund (EPF) as their last lifeline to survive.

“But PN seems to have a misplaced priority when the Prime Minister’s Office (PMO) now want to table the Syariah Courts (Criminal Jurisdiction) Act 1965 (Act 355) and Control and Restriction on the Propagation of Non-Muslim Bill.  

“While the world is moving coherently to end racism especially through sports and education with thousands of MNCs such as Apple, Google and Starbucks practising a non-discriminative policy in their establishment, racial division in Malaysia is becoming wider. 

“Foreign investors will always want to avoid countries where racial tensions and clashes will disrupt their business activities,” he said.

Leiking said many of those who spend time talking about race and religion can afford to do so because they are financially well off but thousands of Malaysians who are pushed to the brink of poverty line can’t. 

These people desperately need better jobs and business opportunities to make up all the losses when their savings they were utilised last year.