He said many international companies and multinational corporations have started establishing vendor development programmes and supply chain management initiatives, together with local companies and suppliers, despite the Covid-19 pandemic.
He said notable projects approved in the first nine months of 2020 includes LEM (Switzerland), Dexcom, Ultra Clean (USA), Keysight Technologies (USA), Bosch (Germany) as well as Nippon Electric Glass (Malaysia) Sdn Bhd.
He stressed that the ministry has been working with other agencies and ministries to ensure that incentives will be made available to genuine investors.
“But we must remember two important points: we’re still in a health crisis, and every country is unique in terms of attracting foreign direct investment. And while Malaysia is still working tirelessly to contain Covid-19, recovery – in public health, the economy or even investments – will take time,” he said.
Zafrul had come under criticism from a European business leader after a posting on foreign and domestic investment last week.
He said the ministry had engaged with many local and international agencies and business groups, including the American Malaysian Chamber of Commerce, the Malaysian French Chamber of Commerce and Industry, and the British Malaysian Chamber of Commerce, and held discussions with numerous ambassadors, commissioners and ministers.
“We have not managed to meet every single one (of them), but we are getting there,” he said.
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