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MALAYSIA'S FDI IN SOUTHERN COUNTRIES HITS US$4.8 BLN IN 2006.
KUALA LUMPUR, July 2 Asia Pulse - Malaysia's investment in South-South countries amounted to US$4.8 billion (RM17.6 billion) last year owing to brisk efforts by the government to encourage local firms to invest in developing nations, Minister of International Trade and Industry Rafidah Aziz, said here Monday.
Through South-South cooperation, developing countries could in the long term increase their economic well-being by investing jointly in the infrastructure and manufacturing sectors, she said in her keynote address at the familiarisation programme for officials of investment promotion agencies of South-South countries.
Her speech was read out by R. Karunakaran, director-general of the Malaysian Industrial Development Authority (MIDA).
Some 30 international participants from 16 countries are attending the programme.
The investment also reflects Malaysia's "prosper thy neighbour" policy" in engaging developing countries in both trade and investment in a manner that would bring about mutual benefits to both parties.
This was evident even recently when Prime Minister Abdullah Ahmad Badawi visited Sudan, Namibia and Kenya, a move which would continne to take South-South linkages to a significantly higher level.
Malaysia would also ...
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Source: HighBeam Research, MALAYSIA'S FDI IN SOUTHERN COUNTRIES HITS US$4.8 BLN IN 2006.