Malaysian Minister of Finance Tengku Zafrul Abdul Aziz has said that Malaysia is confident of attracting more foreign investments this year after a big decline in 2020, and is looking at incentives to help support that goal.
Hanoi (VNA) – Malaysian Minister of Finance TengkuZafrul Abdul Aziz has said that Malaysia is confident of attracting moreforeign investments this year after a big decline in 2020, and is looking atincentives to help support that goal.
Incentives had traditionally been linked to the size ofinvestments, but that they could also focus on “soft skills,” the official wasquoted by Reuters as saying.
He explained that the drop in foreign direct investment(FDI) last year was largely due to the one-off impact of the coronaviruspandemic and political uncertainties.
In a January report, the United Nations Conference on Tradeand Development said FDI into Malaysia plunged 68 percent last year, thebiggest decline in Southeast Asia.
Malaysia is also considering reintroducing consumption taxto increase tax revenue./.
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