The lack of local and foreign investment is one reason for the scarcity of jobs and high unemployment rates in the country. The impact of the Covid-19 pandemic will result in more being unemployed by 2021, adding to economic uncertainty in the country. To create new jobs there need to be investments in the country – both from local and foreign investors.
The hard truth is that there aren’t enough opportunities in the public and private sectors for these graduates to be employed and the number of unemployed graduates continues to increase each year, amidst a shaky economy. Unfortunately, investors are shying away from the country for several other reasons other than the world-wide Covid-19 epidemic. Political developments in the country in recent months have given rise to a heightened sense of ambiguity.
Investors may thus have the impression that investing in the country may not be worthwhile in the long run. This has resulted in them looking at other more politically stable Asean countries to invest in, especially Vietnam and Cambodia.Above and beyond, the issue that is causing qualms to investors is the many political appointments to the government-linked companies . This measure to the government may be done for political expediency but it does not bode well where investment is concerned.
Even if they are not major shareholders it’s a norm for investors to discern the structure of the GLC boards first before acquiring a stake, as they would want to ascertain that the stake is safe and that the boards will act in their best interests without any political interpolation.
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