Foreign companies will leave because of restrictions on the hiring of foreign workers and expatriate staff too, says an economist.
However, Sunway University economics professor Yeah Kim Leng says although Mida’s innovative approach to attract investment hits the right notes, it is insufficient as long term investors are very particular about political stability. Goh said that Singapore’s stability had made it stand out from the competition despite the global economic outlook.
The trio were commenting on a recent statement by Mida chairman Abdul Majid Ahmad Khan that Malaysia will remain an attractive investment target despite the Covid-19 pandemic and uncertain global economy.