M'sia is open for business, PM assures foreign investors

PETALING JAYA: Malaysia is still open for business despite the recent proclamation of a state of emergency, says Prime Minister Tan Sri Muhyiddin Yassin.

In a live address on Tuesday (Jan 12), he told foreign investors that Malaysia has plans in place to ensure economic recovery.

“To all the stakeholders keenly monitoring what’s happening in Malaysia, I emphasise that Malaysia is open for business," he said.

“In facing these challenging times, this period of emergency will give us the much needed calm and stability, as well as enabling us to focus on economic recovery and regeneration," added Muhyiddin.

He said the government remains committed to good governance at this time and added that the nation has a robust and dynamic regulatory ecosystem.

Muhyiddin said the government has a “six-stage strategy” to ensure economic recovery, which was implemented since last March and it has been incorporated in Budget 2021.

“Continued stability, of course, will enable us to sustain and build upon the economic trajectory that we’ve been working hard on since last year, ” he added.

Earlier in his speech, the Prime Minister had also assured that the emergency proclamation declared by the Yang di-Pertuan Agong is not a military coup, emphasising that a civilian government will still be in place.

He also said that the federal and state government will continue to function according to the Federal Constitution and any ordinance proclaimed by the King will be issued from time to time.

Muhyiddin made the live address following a proclamation of a state of Emergency by Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah on Tuesday.

The proclamation was made after a meeting with Muhyiddin on Monday (Jan 11).

Comptroller of the Royal Household of Istana Negara Datuk Ahmad Fadil Shamsuddin said in a statement on Tuesday that the Yang di-Pertuan Agong decreed that the emergency be in force up to Aug 1 or earlier if the number of Covid-19 cases can be effectively controlled and reduced.

Sultan Abdullah also consented to a government proposal to set up an independent committee comprising government and opposition MPs as well as health experts to manage the Covid-19 situation, he said.

"This Independent Committee will make recommendations to His Majesty if it deems fit that the emergency can be withdrawn much earlier (than Aug 1), ” said Ahmad Fadil

On Monday, Muhyiddin announced that six states will be put under a movement control order starting Wednesday (Jan 13).

In his address on Monday, Muhyiddin said Johor, Melaka, Selangor, Penang, Sabah and the Federal Territories of Kuala Lumpur, Putrajaya and Labuan will be under an MCO until Jan 26.

Muhyiddin added that a recovery MCO will be imposed in Perlis and most of Sarawak.

He also said that three districts in Sarawak - Kuching, Miri and Sibu - as well as Pahang, Perak, Negri Sembilan, Kedah, Terengganu and Kelantan will be under conditional MCO.