SHAH ALAM, 24 Apr: Foreigners in this country will be free to own property, including residential property, in this country when the Malaysian Government agrees to sign the Trans-Pacific Partnership Agreement (TPPA).
The former Director of Bank Negara, Dr Rosli Yaakob, said that this will happen as the agreement does not allow any restrictions to foreign nationals and investors in this country to own property and enjoy the privileges enjoyed by locals.
“Barrack Obama’s arrival is to ensure Malaysia signs the TPPA. Under the TPPA, Americans, Japanese and other nationals are free to conduct businesses and buy anything in the country.
“Certainly, one of their focus will be to invest in property ownership, including housing.
“This will push the price higher. The price of property will be higher. Our own people have to compete with foreign investors, who have better finances, to own property in our own country,” said Dr Rosli when contacted by Selangor Kini today.
He added that the quota and seven percent discount privilege enjoyed by Bumiputeras in property purchase currently will also be gone if the TPPA is implemented, in line with the fair and equitable treatment (FET) policy.
Commenting on the arrival of the President of the United States, Barrack Obama, Dr Rosli said that the visit is to ensure that the Malaysian Government agrees to sign the TPPA.
“The people have to deliver the message to the government; we reject the TPPA because it can threaten the sovereignty of the country.
“Do not let our country become a political tool in the American agenda to stop the advancement China’s economy in the world arena,” added Dr Rosli.
He added that the government’s move to sign the TPPA only shows that the administration of the Prime Minister, Datuk Seri Najib Razak, is a weak administration and can be shaken to a point of bowing to the demands of the world economy power country.
