MoU on political cooperation has had positive impact on investments, says minister

The agreement on cooperation between the federal government and opposition pact Pakatan Harapan (PH) has had a positive impact on investments in the country, the Dewan Rakyat was told today.

Minister in the Prime Minister’s Department (Economy) Mustapa Mohamed said political stability was very important for the country’s development to ensure that the focus on efforts to address Covid-19 can be strengthened.

The pact, dubbed the Memorandum of Understanding (MoU) on Transformation and Political Stability, was signed on Sept 13.

“Alhamdulillah (Praise be to God), the MoU so far has had a good effect, although not perfect. It allows us to focus on efforts to restore the country’s economic growth that slumped last year, including investments, because without political stability, investments will definitely be jeopardised.

“We pray that the MoU will give a good outcome for the people and eventually the people will benefit and continue to boost the economy in 2022 and beyond, especially under the 12th Malaysia Plan (12MP),” he said.

Mustapa was replying to a supplementary question from Zakaria Mohd Edris (Bersatu-Libaran) who wanted to know whether the political problems have had a negative impact on international investments and undermined the implementation of the 12MP.

Replying to another supplementary question from Anwar Ibrahim (PH-Port Dickson) on the progress of the MoU which was alleged to be slow, especially efforts to transform Parliament, Mustapa asked for the government to be given a little more time to ensure that this intention is realised.

“We need to be transparent in this matter. We must state if there is progress and (if) there is not. Transparency and sincerity are important in resolving this problem.

“Definitely, the members of this House better understand the current situation. We will ensure that this noble intention is achieved in the near future. We are aware (of it), so give (us) a little time,” he said.