SHAH ALAM, 19 Aug: The withdrawal of foreign investment is due to the country’s economic situation that is worsening, not due to water problems.
The Exco for Investment, Industry, Commerce and Transport, Datuk Teng Chang Khim (DAP-Sungai Pinang), said that records show that no investors have pulled out yet because of water problems.
He said this in response to a supplementary question from Dr Idris Ahmad (PKR-Ijok) regarding the impact of the water crisis on foreign investment.
Chang Khim said that the water supply source is among the matters that is often raised by investors because it is a necessity in addition to public facilities, infrastructure, investment and efficient road network.
“Although concerns exist, the explanation by the state government regarding mitigation matters and long-term planning regarding the sustainability of water resources convince them to continue investing in this state,” he said at the 13th Selangor State Assembly (DNS) Third Term Second Meeting today.
Earlier, Datuk Seri Dr Wan Azizah Wan Ismail (PKR-Kajang), through a verbal question, asked about the impact of the country’s economy, which is worsening, on foreign investment in Selangor.
“Apart from the current economy, the factor of market demand is also causing this to happen.
“This has a direct impact on Selangor’s economy because it involves layoffs and affects support industries such as transport, retail and other service industries,” he said.
NS
