Dubai Gulf companies doing business with Malaysia should ensure that deals are transparent and above board, an outspoken Malaysian politician has told Gulf News.
Anwar Ebrahim, the leading opposition candidate to be the country's next prime minister, said that billions of dollars was being lost in Malaysia due to ‘dubious deals' and endemic corruption.
Anwar, an outspoken critic of the Malaysian government and a former deputy prime minister, was recently acquitted of charges of sodomy, said that he supported Gulf investment in Malaysia, despite his misgivings about the ruling regime.
"We support the need to attract investors from here to Malaysia, but we have been very clear that it has to be transparent. A lack of transparency and dubious deals will create problems at a later stage, and we don't want that," he said.
Corruption
Anwar, who was the keynote speaker at the Public Relations World Congress yesterday, said that corruption was leading Malaysia to lose out economically to rivals in South East Asia.
He said that while Malaysia was pursuing more free market policies, their effects were being compromised by nepotism and a lack of transparency.
"You cannot give contracts to your family members and call it privatisation, you can't issue tenders without proper procedures — this has caused losses. A government report has put a figure of $6 billion in losses because of corruption, this in a small economy like Malaysia," he said.
"In competitiveness, in terms of foreign direct investment and in terms of growth, we have lost to Indonesia, Thailand and Vietnam and of course Singapore."
Anwar has long been a controversial figure in Malaysian politics. He was an early ally of revered prime minister Mahathir Mohammad but fell from favour over disagreements about economic policy.
Anwar pushed for greater privatisation in the face of Mahathir's more conservative attitude towards opening up the country's economy.
He has been jailed twice, once for six years for corruption and sodomy charges that were overturned.
As he rose in prominence after his release from prison, Anwar again faced sodomy charges, which were dropped in 2012.
Coalition
Politically, Anwar heads a coalition of minor parties that brings together Hindus, Buddhists, Christians and Muslims as well as Chinese, Indian and Malay politicians.
He is confident that despite decades of dominance, his coalition can win the elections expected to be held in either 2013 or later this year.
"The possibility of a takeover is real this time," he said.
"I went through hell and I think that now is the time. We are encouraged by the support."
At the same time, Anwar raised questions about whether a poll would be fair. "Assuming it is, we will see change in Malaysia," he said.