Malaysia falls behind on international compliance
(The Edge) – Malaysia’s lack of commitment to comply with United Nations(UN) conventions may affect foreign investments and the goal of becoming a developed nation by 2020.
Malaysia’s lack of commitment to comply with United Nations (UN) conventions may affect foreign investments and the goal of becoming a developed nation by 2020.
“Increasingly more companies are looking at human rights, their environment standards as important issues for them to consider when they are choosing locations for their investments,” Asian Strategy and Leadership Institute CEO Tan Sri Michael Yeoh told The Edge Financial Daily.
He said foreign investors will have more confidence in investing in the country if it abides by certain international standards.
Human Rights Commission of Malaysia (Suhakam) chairman Tan Sri Hasmy Agam said investors link their investments to basic international standards before they invest or trade in a country to ensure stability.
“If Malaysia is progressing, the country is able to convince investors. However, what happens if we are regressing and we have no international standards to gain investor confidence?” he told The Edge Financial Daily.
