Malaysia Will Review New Investment Applications, Ensure They Generate Economic Benefits – Anwar

KUALA LUMPUR: Malaysia will review new investment applications to ensure their activities generate jobs and bring economic benefits to the country, said Prime Minister Datuk Seri Anwar Ibrahim.

He said the Ministry of Investment, Trade and Industry (MITI) has informed the government about the presence of several companies using warehouses and transit activities without providing benefits in terms of employment or economic contribution.

“MITI has informed the government about the presence of several companies using warehouses (but) not providing any advantages, whether in terms of employment or economic benefits.

“We have stopped these activities, but we need to review new applicants,” he told reporters after officiating the TikTok Shop Summit 2026, here, today.

Earlier, during the Q&A session, Anwar was asked by a TikTok Shop participant about the entry of cheap products from abroad through cross-border platforms such as Temu and Pinduoduo, and the steps taken by the government to ensure a sustainable and fair market for local businesses to compete and grow.

In response to the question, the Prime Minister said Malaysia, as an open economy, provides great opportunities for businesses, while the development of digitalisation and online trade has increased the entry of foreign products into the domestic market.

“Malaysia is a free trade country… now with digital and online platforms, the entry (of businesses) has increased.

“Sometimes (they offer) the lowest cost, now they call it dumping, so that they can dominate the market,” he said.

Meanwhile, Anwar, who is also Finance Minister, also raised concerns over the trend of businesses registering small companies using local business names even though the products sold are fully imported.

“Sometimes (they) register small companies using the name of a coffee shop, using local business names. What they sell are coffee, tea, biscuits, all imported goods.

“There is absolutely no benefit for the community, for local businesses,” he said.

Anwar also cited the example of large investors entering Malaysia and renting warehouses at Port Klang without creating demand for local workers or Malaysian products.

“There are large investors who come in, they rent warehouses at Port Klang. There is absolutely no need to hire local workers or use local products.

“So this issue needs to be addressed. We have been monitoring, enforcement officers have already begun taking several actions,” he said.

He said these activities require more thorough scrutiny to ensure that businesses operating in Malaysia provide benefits to the domestic economy.

BERNAMA