Too many street demos could drive investors away: Johari

KUALA LUMPUR: Too many street demonstrations could steer foreign investors away, making it harder for Malaysia to recover from the economic crisis.
Deputy Finance Minister Datuk Johari Abdul Ghani said the demonstrations would effect the country, worst still, when they are using racial sentiments.
"Street demonstrations is not good, it would make foreign investors feel uncomfortable to invest here."
"I think now is the time for all Malaysians to play our role in preserving ourselves from using this (racial) sentiment."
"The foreign investors look at Malaysia today quite negatively as they have never seen the situation where we used racial sentiment as a reason to demonstrate," Johari said after officiating the 'What Gen-Y Said' programme at UniKL campus here.
Johari added although street demonstrations are allowed in this country, people should be united especially when the country's current economic situation is unstable.
"In our democratic law, demonstrations are allowed, but at a time when the government is emphasising on upgrading the economy, as well as repairing the negative perception of people, this demonstrations would not bring any benefit," Johari said.
Commenting in Prime Minister Datuk Seri Najib Abdul Razak's announcement on shoring up the stock and capital markets, Johari said that is a positive move made by the government to restore people's confidence to invest in the country.
"I support the efforts to shore up stocks and capital markets, as well as reducing the cost of doing business to address the increase economic concerns fueled by domestic and external pressures."
"The revival of ValueCap's role in stabilising the local equity market, with the amount of RM20 billion fund is because these stocks have a good fundamentals."
"If we do not come out with this initiatives, there is a possibility these stocks could fall into foreign investors with a low price."
"We should take this opportunity to help the market and the announcement has been positively received," Johari said.