PETALING JAYA: The Malaysian Chinese business community has rebutted claims that Malaysia will become China's puppet by giving contracts to the country.
Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM) president Ter Leong Yap said that Malaysia welcomes foreign investors as a free economic market.
"How is it possible? We have a lot of projects that were contracted on an open tender. We should welcome foreign investment, as it is important to our country. Other than China, we also welcome Japan, Korea and Taiwan, etc," Ter is quoted as saying by Sin Chew Daily on Thursday.
Ter is also a member of Prime Minister Datuk Seri Najib Tun Razak’s delegation to China.
"We should view it with an open heart. We are an open economic market, a free trade country under the WTO that relies on foreign investments and we must welcome investments, while local entrepreneurs also must have the competitiveness," added Ter.
Former Prime Minister Dr Mahathir Mohamad has warned that several deals being inked by the Prime Minister with China may end up threatening Malaysia's sovereignty.
This, he said, includes Malaysia's territorial claim in the South China Sea, which is also being claimed by China.
In particular, Dr Mahathir expressed concern over the country's loan of RM55bil from China to construct the East Coast Rail Link (ECRL).