Unity govt must win Mahkota by-election to secure foreign investors trust - Teo Nie Ching

KLUANG - Deputy Communications Minister Teo Nie Ching says that the upcoming Mahkota state by-election is crucial for the unity government’s overall economic strategy, especially in gaining the trust of foreign investors.

Speaking during a campaign event, Teo said a win would send an important signal to international stakeholders, highlighting the country's increasing economic progress.

"The candidate from the unity government, Syed Hussein Syed Abdullah from Barisan Nasional (BN) needs to win in the Mahkota by-election because we want to send a clear message to foreign investors," she said.

She said Malaysia's economy was showing positive signs of recovery with the ringgit strengthening and an increasing number of investors expressing interest in the country.

"We can see that Malaysia's economy is on the right track, the ringgit is getting stronger and many investors are keen to invest in Malaysia," she said.

She also reaffirmed the government's commitment to boosting economic resilience in the region.

Teo said foreign investment hinged not just on favourable financial conditions but also on a stable political environment and investors were particularly cautious about any signs of instability, which could disrupt long-term plans.

"For investors, I believe political stability is very important," she said.

Teo further cautioned that a loss in the Mahkota by-election could create uncertainty and send the wrong signal to international investors about the political landscape in Malaysia.

Drawing a parallel to the political crisis known as the Sheraton Move, which saw a sudden shift in government coalitions, Teo warned of the dangers that such political turbulence could pose to investor confidence.

"If we don't win here, it will send a message to foreign investors that perhaps Malaysia's politics are still unstable and the Sheraton Move might happen again.

"Such things are feared by foreign investors because when there is a change in government, there will inevitably be changes in policies and so on," she said.

Teo, who is also national DAP publicity secretary also pointed out that sudden government changes often led to uncertainty in national policies, which was something most foreign investors try to avoid when deciding where to invest their money.

"We want to avoid that situation and right now we are on the right track for economic recovery," she said.

She also called for the Mahkota constituents to cast their votes in favour of the BN candidate representing the unity government.

She said securing victory in the by-election was not just a political imperative, but a necessary step towards sending a clear and reassuring message to the global business community.

"So, I hope that the voters in Mahkota can help us secure victory for the BN candidate so that we can send a very clear message to foreign investors focusing on Johor," she said.