JOHOR BAHARU: Former prime minister Tun Dr Mahathir Mohamad has asked the government to be selective in choosing foreign direct investments (FDIs) that are beneficial for the people and the nation.
Despite the good FDI prospects this year, FDIs must be looked at thoroughly to avoid losses for the country, he said.
“The FDIs must help in the country’s development. Otherwise, we will be a mere production house for them and nothing more,” he said when asked to comment on the FDI prospects for this year after registering the highest level last year.
Malaysia attracted RM38.774 billion last year, a 24 per cent increase from RM31.116 billion in 2012. Reporters met Dr Mahathir at the International Family Conference From Global Perspective here yesterday.
The RM38.8 billion has also exceeded the country’s highest FDI registered so far, up 3.9 per cent, from the previous high of RM37.3 billion in 2011.
Dr Mahathir said the FDI value should not be the mainspring but they should also contribute in terms of technology transfers and technical expertise.
“We must choose the FDIs that can help bring progress to the people via technology transfers. We have the capacity to be an advanced nation,” he said.
Dr Mahathir said developed nations should not only have high per capita income but also a vibrant economy. — Bernama