After 15 years, Tun Dr Mahathir Mohamad was sworn in once again as Malaysia’s Prime Minister last Thursday.

The 92-year-old statesman took his oath as the nation’s seventh Prime Minister before the Yang di-Pertuan Agong, Sultan Muhammad V, at the Istana Negara’s Balairong Seri.

Prime Minister Tun Dr Mahathir Mohamad pledged that Putrajaya will continue to welcome foreign direct investment, but with a caveat that local contractors will be given priority in the development sector.

"This FDI will be limited to those bringing funds and technology into the country, constructing factories, producing goods for the local market or export.

The new government under Prime Minister Dr Mahathir Mohamad will ensure that the abolition of goods and services tax (GST) and the reintroduction of fuel subsidies will not adversely affect the Malaysian economy.

The government's newly set-up team of eminent persons is confident of shelving GST and reinstating fuel subsidies as they have the relevant expertise and experience.