M’sia still preferred for foreign investment


MALAYSIA remains an attractive destination for foreign investment due to strong economic fundamentals and conducive environment, said International Trade and Industry Minister Datuk Darell Leiking (picture).

He said the country is a “preferred choice” for foreign investors despite concerns over political stability and economic growth at home, as well as slowing global growth and tightening financial conditions.

“For Malaysia, I don’t think there is an issue for investors. What they want to see is our fundamentals.

“I believe the fundamentals the government is creating today, with all the ecosystems provided by the private and public sectors, will give confidence to new investments and re-investments by current investors,” he said at the launch of Oracle Cloud Solution Hub in Kuala Lumpur yesterday.

As such, Leiking said his ministry aims to create an innovation ecosystem to enable a seamless digital transformation journey for Malaysian businesses, especially the small and medium enterprises (SMEs).

“Whatever the current state of the economy is, Oracle and many other companies are announcing their investments into Malaysia, as well as moving from other more expensive economies to more moderate economies like ours,” he added.

Cloud and productivity solutions firm Oracle Corp Malaysia Sdn Bhd is targeting the SME segment with the launch of its hub.

Supported by a range of state-of-the-art tools and facilities, the cloud solution hub is intended to deliver customised Industry 4.0 solutions such as blockchain, the Internet of Things, machine learning, artificial intelligence, data analytics and autonomous databases to SMEs to drive business value and growth.

Its MD Mohamed Fitri Abdullah said SMEs are the perfect candidate for the adoption of cloud services, given that cloud technology is affordable and does not require specific skills.

“We’ve been pushing cloud solutions for the last three years. We do have a few companies at the adoption level and we believe that they will increase with time.

“We have had some success stories with SMEs, but the awareness and adoption of these technologies among Malaysian firms still needs some work,” he said.