Inconsistent statements affect trade ties, Malaysia-China business group reminds Cabinet

Kenneth Tee
MCCC said Mahathir's latest statement that foreign property buyers would not receive automatic residency in the country came as a shock to investors and developers. ― Picture by Yusof Mat Isa

PETALING JAYA, Sept 5 ― The Malaysia-China Chamber of Commerce (MCCC) urged ministers to be cautious when issuing statements, saying inconsistencies have severe repercussions for businesses in both countries.

In a statement published in Chinese on its Facebook page yesterday, MCCC said ties between Malaysia and China were supposed to be further enhanced after Prime Minister Tun Dr Mahathir Mohamad’s recent visit to Beijing, but were marred by recent developments in the country.

“The vague, ambiguous statements and inconsistent policies by our new government leaders recently may dent the existing and even potential investors' confidence this may bring a serious impact to our country's economy,” it said.

The group also said Dr Mahathir's latest statement that foreign property buyers would not receive automatic residency in the country came as a shock to investors and developers.

“This incident may bring a negative impact on attracting investment and the Malaysian 'Second Home' plan.

“It is therefore necessary for official institutions to make reasonable explanations and appeasements to maintain Malaysia’s long-standing reputation of opening up itself to foreign relations,” the group said

MCCC said both incidents highlighted the wide influence of Malaysian officials when they issued statements openly.

“MCCC has remained committed to maintaining and promoting Malaysia-China economic and trade relations, calls for government leaders to be cautious in the future, especially in terms of foreign investment policies.

“We would also want to suggest to the government in establishing a specialised department or group to report to the government leaders promptly and clearly on all the matters regarding foreign investment policies,” it added.

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