Malaysians Should Support TPPA, China Investment Initiatives : MIDA

PETALING JAYA (Selangor, Malaysia), Nov 9 (Bernama) -- Malaysians should support the Trans-Pacific Partnership Agreement (TPPA) and China's investments initiatives which can bring positive impact to the country's economy and people. Malaysian Investment Development Authority (MIDA) Executive Director for Strategic Planning, Zabidi Mahbar said TPPA negotiations and the recent US$34.18 billion (RM144 billion) worth of deals concluded with China took into consideration almost all of Malaysia's concerns and sensitivities. "Whatever action we take, whether on the TPPA or whether we encourage massive investment from China or from anywhere else, is because Malaysia welcomes foreign investment. "We have looked at the impact on the local economy and the people," he told a forum held in conjunction with TaxMax's 42nd Series Seminar themed, "Brave Decisions, Brave Actions" organised by Deloitte Malaysia here Tuesday. Zabidi was commenting on concerns raised over the deals clinched with China, which included several iconic projects, and on whether the new US President would support the trade pact. Meanwhile, Director of Strategic Negotiations Division at the Ministry of International Trade and Industry, Syahril Syazli Ghazali, told the forum that all TPPA member countries had 34 months to ractify the agreement. "For Malaysia, it is an ongoing process. We signed the agreement on Feb 4, 2016. There are some amendments to 18 laws and the relevant ministries are doing the necessary. "We shall wait for the outcome of the US election and the US administration's next move," he added. -- BERNAMA