When the words “foreign direct investment” are being mentioned, it conjures images of foreign currencies raining down from fluffy clouds with a rainbow arched across a rosy horizon.
Jobs are being created. The economy gets a boost. Production costs can be lowered which puts a smile on the faces of both producers and consumers. International trade also becomes easier now that people from both sides spend less time hopping over red-tapes.
Just recently, our prime minister announced that Malaysia has received a historic investment commitment amounting to RM170 billion from Chinese investors. And that is great news.
But before we break out the party popper and start blowing our balloons, we need to examine the breakdown of said foreign direct investment.
Will these companies hire our workers or bring workers from their countries? Will they share their technological-know-how with our labour force, or will they confine us to manual work that requires little skill.
Another point of contention is the petrol subsidy that we Malaysians enjoy. Foreign corporations are taking advantage of this and running their operations at a lower cost due to our petrol subsidy, at the expense of Malaysia, of course.
They pollute the air we breathe and the water we drink. Hence it is vital for our nation to not only attract foreign direct investment, but the right kind. The key takeaway here is to have more foreign butterflies in our garden to pollinate our flowers while creating a sight that pleases the eyes and mind. Less skunks in the backyard, please!
