Malaysian-Thai trade set to soar to new heights

Malaysian-Thai trade set to soar to new heights

BANGKOK - Bilateral trade between Malaysia and Thailand is set to reach new heights with both governments agreeing yesterday to take proactive measures to facilitate investments.

Deputy Prime Minister Tan Sri Muhyiddin Yassin said many Thai entrepreneurs voiced their interest to invest in Malaysia, while Bangkok had also pledged to liberalise its banking sector to allow financial institutions from Malaysia to expand operations in Thailand.

He also urged Malaysian companies to explore the possibility of taking part in several massive infrastructure projects, valued up to US$60 billion (S$76.8 billion) to take place in the next seven years.

Muhyiddin said Thai entrepreneurs had shown keen interest in tourism, retail, property and manufacturing sectors.

"They wish to learn more about investment incentives and support as well as our policy on foreign investments.

"This is a good sign as we want more Thai industrial players to invest in Malaysia," he said after attending a round-table meeting with captains of industry from both countries here yesterday.

Present were Thai Deputy Prime Minister Kittirat Na-Ranong, Kedah Menteri Besar Datuk Mukhriz Mahathir and Perlis Menteri Besar Azlan Man.

Muhyiddin said during the session, Kittirat had said Bangkok was in the process of liberalising its banking sector to allow Malaysian banks to expand their operations in Thailand in the next five years.

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