Rafizi Malaysia Needs Foreign Money Because It S Poor

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Malaysia is a poor country that requires foreign investment to stimulate growth among domestic companies, said former economy minister Rafizi Ramli.
Speaking on the latest episode of his “Yang Berhenti Menteri” podcast last night, he explained that foreign capital enables local firms to secure financing at favourable rates.
“When talking about markets, if people outside ask what about markets... eh, Malaysia is a poor country.
“We need foreign money, that foreign money coming into our markets, we buy bonds, that allows our companies to borrow at a low rate, or they buy equity, meaning they buy all these shares, right?
“From that money that comes in, it becomes a capital injection for our companies to grow and enter new economic sectors,” said the Pandan MP and former PKR deputy president.
Rafizi also defended the government’s financial position, claiming it is at its strongest ever when all factors are considered.
He contrasted the present situation with the period when former prime minister Najib Abdul Razak was in office in 2015, saying inflation rose sharply then, while the ringgit plummeted and economic growth decelerated.
The same, he said, happened in 2022.
Rafizi also criticised detractors who claim that the economy is in poor shape, stating that policies which have attracted attention were designed to repair the market structure.
“Of course, we are struggling. We inherited an economy with many problems.”
However, he stopped short of claiming the current government has resolved all of its financial challenges.
Instead, he portrayed a government implementing remedial measures to achieve a robust financial recovery.
ADSVote with some knowledge
When asked about the next general election and who to vote for, his advice was to cast ballots wisely.
“This time I will say that (your) vote is secret, you choose whoever you like, but make the assessment as someone with a little knowledge.”
Rafizi said that he expects the government and the opposition to face many challenges in the next two-and-a-half years before the 16th general election.
“It’s an open field,” he admitted.
However, he expressed concerns about the opposition seizing control of Putrajaya, stating it would be regrettable as there were already signs of the current government’s “remedy” taking effect.
Rafizi asserted that Malaysians also have confidence in Pakatan Harapan’s superior administrative competence.
However, he acknowledged that no government can rest on its laurels and take voters for granted.
Rafizi’s podcast was launched shortly after he resigned as economy minister, following his defeat in the PKR election, in which Nurul Izzah Anwar wrested the deputy presidency from him.
Before voting day, Rafizi said he would resign from his cabinet position and become a “regular MP” should he fail to defend his party position. - Mkini

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