Tun M: Focus on domestic investment instead of FDI

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Tun M: Focus on domestic investment instead of FDI
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KUALA LUMPUR: The government should encourage domestic investment and stop relying on foreign direct investment (FDI) to move the economy, former prim...

: The government should encourage domestic investment and stop relying on foreign direct investment to move the economy, former prime minister Tun Dr Mahathir Mohamad said in the Dewan Rakyat today.He pointed out that they have become very successful nations by focusing on domestic investments instead of FDI.“FDI cannot turn us into a successful industrial nation.

He said we have assets such as rubber, palm oil and sand that we can market domestically and internationally. Mahathir cited the glove industry as an example which can be used as a benchmark to develop local industries to meet local and international demand.“Maybe then our other local industries can be as successful as our glove industry,” he said.

Last week, Datuk Shabudin Yahaya had wrongly included Datuk Seri Nazri Aziz in the list of those supporting the Finance Ministry’s budget at the committee stage, when he was not present in the house.

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