Malaysia, India sign investment deals worth $36 billion
Malaysian and Indian business leaders signed one of the biggest investment deal package in Malaysian history during an official visit of Malaysia’s Prime Minister Najib Razak to the country, amounting to $36 billion, more than the $33 billion worth of deals signed by Malaysia in China just four months ago.
The bulk of the projects – worth a total of $32 billion – will be implemented in Malaysia, the rest in India following the signing of no less than 31 memorandums of understanding, for Najib “a sign of confidence” in both countries’ economies.
Another reason for promoting the big deals is that Najib has been courting Indian-origin population in his country as he heads into elections next year. He acknowledged that Malaysia was home to the largest Indian population outside India.
“Over 7 per cent of our population is of Indian origin. Indian Malaysians play a key role in building Malaysia,” he said.
Among the projects is the development of an integrated maritime city on Carey Island south of Port Klang at an investment of close to $23 billion, accompanied by a port project worth $9.4 billion. Other projects in Malaysia involve halal food production, highway construction, solar power plants, palm oil development and creation of higher learning facilities.
In India, Malaysian firms will be investing in a Bangalore Smart City Project and in infrastructure.
“I’m glad that Indian investors continue to have confidence in Malaysia, as shown by their decision to expand and diversify their existing operations in our country,” Najib said.
He added with the Trans Pacific Partnership Agreement now defunct, the proposed Regional Comprehensive Economic Partnership (RCEP), which would also include China, Japan, South Korea, Australia and New Zealand, had become crucial.
“I hope the RCEP can be realised by the end of the year or, the latest, by early 2018,” he said.
[caption id="attachment_29684" align="alignleft" width="300"] Malaysia Prime Minister Najib Razak (left) and his wife Rosmah Mansor meet Indian Prime Minister Narendra Modi[/caption] Malaysian and Indian business leaders signed one of the biggest investment deal package in Malaysian history during an official visit of Malaysia's Prime Minister Najib Razak to the country, amounting to $36 billion, more than the $33 billion worth of deals signed by Malaysia in China just four months ago. The bulk of the projects – worth a total of $32 billion – will be implemented in Malaysia, the rest in India following the signing of no less than...
Malaysian and Indian business leaders signed one of the biggest investment deal package in Malaysian history during an official visit of Malaysia’s Prime Minister Najib Razak to the country, amounting to $36 billion, more than the $33 billion worth of deals signed by Malaysia in China just four months ago.
The bulk of the projects – worth a total of $32 billion – will be implemented in Malaysia, the rest in India following the signing of no less than 31 memorandums of understanding, for Najib “a sign of confidence” in both countries’ economies.
Another reason for promoting the big deals is that Najib has been courting Indian-origin population in his country as he heads into elections next year. He acknowledged that Malaysia was home to the largest Indian population outside India.
“Over 7 per cent of our population is of Indian origin. Indian Malaysians play a key role in building Malaysia,” he said.
Among the projects is the development of an integrated maritime city on Carey Island south of Port Klang at an investment of close to $23 billion, accompanied by a port project worth $9.4 billion. Other projects in Malaysia involve halal food production, highway construction, solar power plants, palm oil development and creation of higher learning facilities.
In India, Malaysian firms will be investing in a Bangalore Smart City Project and in infrastructure.
“I’m glad that Indian investors continue to have confidence in Malaysia, as shown by their decision to expand and diversify their existing operations in our country,” Najib said.
He added with the Trans Pacific Partnership Agreement now defunct, the proposed Regional Comprehensive Economic Partnership (RCEP), which would also include China, Japan, South Korea, Australia and New Zealand, had become crucial.
“I hope the RCEP can be realised by the end of the year or, the latest, by early 2018,” he said.
