Malaysia To Review New Investment Applicants To Ensure Domestic Economy Benefits -- Anwar
KUALA LUMPUR, Aug 20 (Bernama) -- Malaysia will review new investment applicants to ensure their activities generate employment and economic benefits for the country, said Prime Minister Datuk Seri Anwar Ibrahim.
He said the Ministry of Investment, Trade and Industry (MITI) has alerted the government to the presence of some companies that use warehouses and transit activities without providing benefits in terms of employment or economic contribution.
"MITI has alerted us to the presence of some companies that use warehouses that would not give any advantage, both in terms of employment and economic benefit. We have stopped those activities, but we have to review the new applicants," he told reporters after officiating the TikTok Shop Summit 2026 here today.
Earlier, during the question-and-answer session, Anwar was asked by a TikTok Shop participant about the influx of cheap products from overseas through cross-border platforms such as Temu and Pinduoduo, and the measures being taken by the government to ensure a sustainable and fair market for local businesses to compete and grow.
Responding to the question, Anwar said Malaysia, as an open economy, provides significant opportunities for businesses, while digitalisation and online commerce have resulted in an increasing entry of products into the domestic market. “Malaysia is a free-trade country. Nowadays, with digital and online platforms, we can see that the entry of businesses has increased. Sometimes, they offer the lowest prices. This is now referred to as dumping, so that they can capture the market,” he said.
Anwar also raised concerns about businesses that register small companies using local business names despite the products being sold being entirely imported. “Sometimes, they register small companies using the names of coffee shops or local businesses. They sell coffee, tea and biscuits, but all of these are imported goods. There is absolutely no benefit to the community or local businesses," he noted.
Anwar also cited the example of large investors entering Malaysia and renting warehouses in Port Klang without creating demand for local workers or Malaysian products. “There are large investors coming in and renting warehouses at Port Klang. (However,) there is absolutely no requirement for them to hire local workers or use local products,” he said. "So this issue has to be addressed. We have monitored; enforcement officers have begun to take action."
He said these activities required greater scrutiny to ensure businesses operating in Malaysia provide tangible benefits to the domestic economy.
-- BERNAMA