KUALA LUMPUR: Foreign investors, mainly UK industrial players, want Malaysia to reduce the cost of doing business in the country and ease the procedures of investing for them, as well as speeding up the reopening of the borders and resuming the international economic activities.
National Recovery Council chairman Muhyiddin Yassin said the foreign industry players have voiced these concerns and requested the government to assist their businesses.
“They (the UK industry players) have asked to hasten the reopening process and ease procedures for investors.
“They also asked if the cost of doing business in Malaysia could be further reduced,” Muhyiddin said at a press conference after a meeting with UK businesses and investors organised by the British Malaysian Chamber of Commerce today,
He added they also sought financial assistance and support from the government.
Muhyiddin said he would bring their concerns and suggestions to the National Recovery Council.
“I have asked the British Malaysian Chamber of Commerce to prepare a report on the suggestions.
“Malaysia is the UK’s second largest trading partner among Asean countries. Before the Covid-19 pandemic, the FDI in Malaysia from the UK amounted to £3.8 billion.
“Given the large footprint that British businesses have in Malaysia, I strongly believe that these businesses can play an important role in supporting our recovery efforts, to the mutual benefit of both countries,” he said.