KUALA LUMPUR, Feb 9 — The Ministry of International Trade and Industry (Miti) has mounted what appears to be a public relations exercise to counter claims that investors have fled the country because they have lost confidence in the present administration.

On its Twitter account, positive trade data filled the timeline of the ministry’s account, accompanied by the hashtag #InvestorsStandByMalaysia, a slogan ostensibly aimed at criticism that Malaysia is losing investments from abroad on alleged fears that Malaysia was turning less democratic.

 

The hashtag campaign also deployed large posters that featured several chief executives of multinational firms giving positive accounts about doing business with the Malaysian government.

While the messages of each poster varied, the subtext was in unison — these executives, three CEOs and a president of a regional company, have long deemed Malaysia a strong investment destination, and mostly because the right policies have been put in place. 

“For 50 years, B. Braun has stood with Malaysia, investing RM4.4 billion and providing 7,600 jobs. We shall continue to thrive in this blessed country,” Lam Chee Hong, president of B. Braun Asia Pacific, a medical product supplier, was quoted as saying.

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On each poster, “We Stand By Malaysia” was used as the headline, followed by the respective testimonials of the various executives.

“We are glad that we made the right choice of investing in Malaysia,” Moussa Naciri, CEO of Oleon, a Belgian-based chemistry company that turns natural fats into oleochemical products such as glycerine or biodiesel, was quoted as saying in a separate poster.

“Oleon will continue to invest as it is the best business-friendly nation in the region.”

These messages were ostensibly quoted to depict investors’ trust in Malaysian laws and policies in the face of mounting criticism that took aim at the drop in foreign direct investment throughout last year.

“In Malaysia, the regulatory clarity is there if we want to apply for licence or MSC status,” Leon Foong, CEO of e-rental service provider Socar, was quoted as saying in a separate poster.

“There are clear frameworks on how we get there.”

 

Critics of the Prime Minister Tan Sri Muhyiddin Yassin and his Perikatan Nasional coalition said the poor data underpinned a drastic plunge in foreign investors’ confidence, which they blamed on political instability caused by the government’s handling of the Covid-19 pandemic.

International Trade and Industry Minister Datuk Seri Mohamed Azmin Ali has dismissed the allegations as mere partisan volley, citing strong trade data or positive international forecasts to debunk the criticism, often through the ministry’s social media platforms.

Just recently, Azmin celebrated the country’s growing trade surplus saying it was a sign of strong leadership and sound economic management.

His detractors, however, were quick to say the announcement omitted the fact that the country’s widening trade surplus was only achieved because imports had plunged.

Imports decreased by 6.3 per cent, or RM53.2 billion from RM849 billion in 2019 to RM 796.2 billion in 2020, official figures showed.