Former prime minister Mahathir Mohamad has warned that Malaysia may lose many potential investors if it does not draw up highly competitive investment policies to attract more investment to help eradicate poverty. In a media conference organised by the Malay Economic Action Council (MTEM), Mahathir said he believed good investment policies would spur the establishment of new industries, including on supply of components, and create more job opportunities. Without investments, Mahathir said the country will become poor and if investors are not treated well and lured by attractive policies, investors like Elon Musk would choose to go to Indonesia. He pointed out that Indonesia with its 270 million population offers a bigger market than Malaysia. The production cost in Indonesia is also lower than in Malaysia.
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