Appointment of kleptocrats, corrupt leaders hurting investor confidence, says Azmin

The appointment of kleptocrats and individuals facing court charges to key government positions undermines the confidence of foreign investors, says former international trade and industry minister Mohamed Azmin Ali. 

Speaking at an event last night, he asked how the government would convince investors to put down their money given what he called the dubious appointments in its administration. 

"The foreign investors are watching. When they give kleptocrats and corrupt leaders major positions in government, how will they convince investors to come and invest in Malaysia?" he told reporters at the Perikatan Nasional Aidilfitri open house in Shah Alam. 

"This means the confidence of foreign investors has been eroded."  

Umno president Ahmad Zahid Hamidi was appointed as deputy prime minister and minister in charge of rural and regional development despite facing a string of criminal charges in court.

He had also been targeted by Pakatan Harapan itself at the 15th general election in its campaign against Barisan Nasional (BN), before the inconclusive results which led to a hung parliament. 

Malaysia's total trade in April 2023 saw a 14.5% decline to RM198 billion. Exports declined 17.4% to RM105.42 billion while imports shrank 11.1% to RM92.58 billion.

Total trade decreased by 14.9% compared to the previous month while imports decreased by 10.1% and trade surplus went down by by 51.9%.

Commenting on PN's own collaboration with BN during the administration of Muhyiddin Yassin, Azmin said individuals facing court charges had never been appointed to key positions.  

The Selangor PN chairman also questioned DAP's silence on the matter. 

"DAP talks about administration and corruption but allows the prime minister to make 'new friends'," he said. 

"This is wrong. It is also being scrutinised by foreign investors, and this is why trade and investment has been affected. I believe if given a chance, PN can restore the confidence of foreign investors."