PUTRAJAYA: States and local councils must ensure the approval process for foreign investments is expedited without compromising on set regulations, says Datuk Seri Anwar Ibrahim.
The Prime Minister said authorities must not take too long to approve or look into investment applications at a time when the country's economy needs to be spurred.
"But regulations must still be followed and studies completed for the applications to be approved," he said after chairing the weekly Cabinet meeting on Wednesday . He said that top officials of two Chinese companies – Zhejiang Geely Holding Group Co and Rongsheng Petrochemical Co – would visit Malaysia latest by next month to"get the ball rolling".
Anwar said Geely is eyeing investing in Pahang and Perak while Rongsheng will be setting up investments in Johor and Terengganu.
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