Dr M: China can invest in Malaysia, but based on our rules

Saidon Idris

BEIJING: Tun Dr Mahathir Mohamad says that while the government welcomes investment from China, it has to be done according the country’s regulations.

The prime minister said Chinese businessmen, during his meeting with them here, are still keen on ramping up their investment in Malaysia.

He said that while the government welcomes their interest, it has to be in accordance with the true definition of foreign direct investment (FDI).

“When we come to China, we follow their laws. The same applies when they come to Malaysia; they must follow our laws,” he told a press conference on the final day of his five-day trip to China.

Dr Mahathir said, throughout the five days, he had also convinced Chinese businessmen that he is still as “China-friendly” as when he was during his first spell as the prime minister.

“When I was the prime minister before, I was known as being China-friendly. I think I have proven that I have not changed,” he said.

Meanwhile, Dr Mahathir said there are many things that Malaysia can learn from China, based on the country’s rapid pace of development in the agriculture, automotive and drone sectors.

He said that in agriculture, for example, the use of technology enables China to fulfil the food needs of its massive 1.4 billion population.

He said the situation was different in Malaysia, where despite providing huge subsidies to farmers, the country has only managed to meet 70 per cent of demand.

“This is what we have to learn because if we follow China’s ways, we would no longer need to import food,” he said. © New Straits Times Press (M) Bhd