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Malaysia expects more FDI in 2010 on global economic recovery
News Date: 14th January 2010
Malaysia is expected to woo more foreign direct investment (FDI) this year as the global economy is on track of recovery.
Malaysia's International Trade and Industry Minister Mukhriz Mahathir said here on Wednesday that he was optimistic that Malaysia could see inflow of more FDI this year thanks to improved investor confidence and the expansion projects for the services sector.
The services sector could propel economic growth, bring in technology, create jobs and provide new opportunities for joint ventures between foreign and domestic service business providers, he added.
Mukhriz made the remark after a dialogue with Malaysian entrepreneurs at the Malaysian External Trade Development Corporation Briefing and
Consultation 2010.
He said that China was regarded as an important source of foreign investment for Malaysia and the government was also expected Chinese
investors to use the country as the base to add value for their export-driven products. Other main FDI sources are Japan, the United States and the Middle East.
Malaysia lured FDI worth 12.6 billion ringgit (some 3.6 billion U.S. dollars) in the first three quarters of 2009, a slump of 79 percent year on
year. Makhriz said Malaysia was on track to clinch the targeted FDI of 20 billion ringgit (some 5.7 billion U.S. dollars) for 2009.
Source: GNA
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