Granting the EV maker exemption from Bumiputera equity participation is a pragmatic move for long-term growth, they say.
PETALING JAYA: Granting preferential treatment to Tesla is a good move to bring in quality investment into Malaysia, according to two economists.
Last week, Tesla began taking orders for its Model 3, less than two months after Prime Minister Anwar Ibrahim announced that it was setting up its headquarters in Selangor. “The current restrictions on foreign direct investments are protectionism, rent-seeking and corruption. They harm the investment environment. Removing these restrictions is so much better and leverages so many more options,” he added.
“The government seems keen to move away from the Bumiputera equity requirement. This may well be a start to emphasising efficiency and a return to investment over social restructuring,” he told FMT Business.
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