Local MNCs’ outbound investments crucial for Malaysia's economy and shareholders

Mustapa at the MIDA Open Day yesterday. With him are: Deputy International Trade and Industry Minister Datuk Ahmad Maslan (right)), and International Trade and Industry Minister II Datuk Seri Ong Ka Chuan (second, right) and MIDA's Datuk Azman Mahmud (left) - Bernama

KUALA LUMPUR: Malaysian multinational companies’ (MNCs) outbound investments are crucial and a normal practice to widen their markets in order to earn better returns for shareholders and spur the country's economy, International Trade and Industry Minister Datuk Seri Mustapa Mohamed said.

Local MNCs such as Petroliam Nasional Bhd (Petronas), Sime Darby Bhd and YTL Bhd have been investing abroad, which promised good returns to their shareholders, he told reporters after officiating the Malaysian Investment Development Authority (Mida) Open Day here yesterday.