Latest news with #RM3.7bil
The Star
22-07-2025
- Business
- The Star
Malaysia won't bend to external pressure, says PM
PUTRAJAYA: Datuk Seri Anwar Ibrahim (pic) has warned foreign powers doing business with Malaysia, including the United States, not to impose terms to pressure or undermine national policies, reaffirming that the country will not bow to powers that 'cross the red line'. 'Malaysia maintains clear red lines in international negotiations that our national policies must not be interfered with,' he said. 'For example, if they (foreign powers) claim our bumiputra policy is discriminatory, Malaysia firmly says no. The country stands by its accepted and established national policies. 'Even if the United States does not agree with our terms, we will stand by our principles. We hope they will agree, but we have already set our red lines,' the Prime Minister said. He said the country intends to continue trading amicably with all countries. 'However, no country can be allowed to impose terms that pressure or undermine our national policies,' he reiterated. Anwar said Malaysia is currently engaged in complex trade negotiations with the United States, which include issues like tariffs imposed by President Donald Trump's administration. 'In the procurement system, Malaysia must maintain the right to give opportunities to local companies. This is a non-negotiable position in our discussions. 'Therefore, our negotiations with the United States are more meticulous and firmer than usual,' he said, dismissing those who questioned Malaysia's stand on the US tariffs. On another matter, Anwar called on civil servants to ignore those who said that the government has not performed well. Pointing to the approved investments at the end of last year, which were the highest in the country's history, he said investors from other countries have shown strong confidence. 'The investment value in 2024 reached RM3.7bil to RM8bil, including major investments in the electrical and electronics sector and Amazon Web Services, which committed US$10bil. 'This achievement has gained recognition at the international level, reflecting strong investor confidence in Malaysia,' he said at a gathering with staff of the Prime Minister's Department yesterday. He also cited several figures, including 3,494 manufacturing investment projects approved by the Malaysian Investment Development Authority between 2021 and June this year. Out of the approved projects, 3,095 projects have been realised and are operational, representing a high implementation rate of 86.4%, added Anwar. 'Annual realisation rates were 90.6% in 2023 and in 2024 it was 79.2%. In the first quarter of this year, the rate is 49.8% (mostly new projects still in the early implementation phase),' he said. He said Malaysia rose from 34th last year to 23rd in the IMD World Competitiveness Ranking, the only country to climb more than 10 places and attributed the jump to strong economic performance and government efficiency.
The Star
21-07-2025
- Business
- The Star
Do not cross the ‘red line', Anwar warns foreign powers including US
PUTRAJAYA: No country, including the United States, will be allowed to impose terms that pressure or undermine Malaysia's national policies, Prime Minister Datuk Seri Anwar Ibrahim assures. He stressed that Malaysia would not bow to any foreign powers that "cross the red line" namely, interference in domestic policies such as the prioritisation of local companies and the bumiputra privileges enshrined in the Federal Constitution. The Prime Minister made these remarks at a gathering of the Prime Minister's Department staff at Dewan Da' Seri Endon, Puspanitapuri, on Monday (July 21). Anwar revealed that Malaysia's approved investments at the end of 2024 had reached between RM3.7bil and RM8bil—the highest in the country's history. These include major contributions from the electrical and electronics sector, as well as a significant USD10bil commitment from Amazon Web Services (AWS). He said the achievement had garnered international recognition, 'reflecting strong investor confidence in Malaysia.' Malaysia is currently engaged in complex trade negotiations with the United States, particularly over tariffs introduced during President Trump's administration. The talks, Anwar said, are not only handled by the Investment, Trade and Industry Minister (MITI) but are also being deliberated at Cabinet level due to their significance. While welcoming foreign investment and trade, Anwar drew a firm line on national policy sovereignty. 'Malaysia maintains clear red lines in international negotiations—our national policies must not be interfered with,' he said. He cited the bumiputra policy as an example, stressing that if it were deemed discriminatory by external parties, 'Malaysia will firmly say no.' He affirmed that the country would continue to uphold its 'accepted and established national policies' and would not compromise even if major partners such as the United States disagreed with Malaysia's terms. 'We hope they will agree, but we have already set our red lines,' he added. He added that Malaysia also maintains the right to prioritise local companies in the national procurement system. 'This is a non-negotiable position in our discussions,' said Anwar, adding that Malaysia's negotiations with the US are 'more meticulous and firmer than usual' as a result. Nonetheless, he reiterated Malaysia's commitment to open and friendly trade. 'Malaysia wants to continue trading amicably with all countries, including the United States,' he said, noting that the US remains the largest investor in Malaysia across several key sectors. He also highlighted Malaysia's strong ties with China and reaffirmed the country's commitment to regional cooperation through Asean. He added that his personal relationships with foreign heads of state, such as President Luiz Inácio Lula da Silva of Brazil, have helped facilitate business deals involving Malaysian companies abroad. 'Two years ago, President Lula personally called me and said, 'Anwar, I want to encourage you. Please get Petronas to come here. We've reserved one well for Petronas,'' he shared. Anwar also urged civil servants to ignore critics who claim the government has underperformed. Between 2021 and June 2025, a total of 3,494 manufacturing investment projects were approved by Mida. 'Of these, 3,095 projects have been realised and are operational, representing a high implementation rate of 86.4%. 'In 2023, the realisation rate was 90.6%, while in 2024 it was 79.2%. In the first quarter of this year, the rate was 49.8%, mostly consisting of new projects still in early stages of implementation,' he said. He also noted that Malaysia rose from 34th in 2024 to 23rd in the IMD World Competitiveness Ranking 2025—the only country to climb more than 10 places. 'This jump was driven by strong economic performance and government efficiency,' said Anwar.
