Malaysia’s foreign policy a catalyst to economic growth, says PM

 |Sep 15, 2017
MO file pic credit Azrol Ali.

KUALA LUMPUR: Malaysia’s open foreign policy towards other countries has spurred investment and trade opportunities to become a catalyst to its economic growth, Datuk Seri Najib Razak said.

The Prime Minister said Malaysia has benefited from investment and trade worth tens of billions of ringgit with several countries, including the US.

Hence, he said it was appropriate for Malaysia to continue investing in sources that could bring returns.

“However, the opposition has questioned the EPF’s (Employees Provident Fund) purpose in investing in the US.

“In fact, the EPF is always looking for investment opportunities to get returns to pay dividends to its contributors,” he said in his article titled ‘Prime Minister’s Speech on Open Foreign Policy’ posted on www.najibrazak.com.my today.

In his meeting with US President Donald J. Trump in Washington DC on Wednesday, Najib said the EPF and Khazanah Nasional Bhd were planning to increase their investment in the US and buy more Boeing aircraft to boost the country’s economy.

The EPF is expected to invest between US$3 billion and US$4 billion (US$1=RM4.19) in the US.

The Prime Minister said the EPF had been investing in the US and European stocks over the years to raise the dividend rate for its contributors, and his meeting with Trump was to increase investment opportunities for the government’s social security institution.

“Negotiations on the purchase of Boeing aircraft were held as Malaysia Airlines already has plans to buy new aircraft even before his White House’s meeting,” he said.

Besides the US, he said Malaysia has successfully negotiated over RM100 billion worth of investments with China this year.

“Wake up, the opposition from the beginning is not happy to see Malaysia succeed in establishing friendly relations with other countries because it is clear that all their wild accusations cannot be taken seriously,” he said. – Bernama