Malaysian companies invest over $3.6b in ASEAN

Malaysian companies invest over $3.6b in ASEAN

SOME 1,500 Malaysian companies have investments totalling RM11.46 billion (S$$3.6 billion) in ASEAN, said Prime Minister Datuk Seri Najib Tun Razak.

"Malaysia is among the main investors in ASEAN with our firms investing widely in banking, commodities, hotel and tourism, aviation, manufacturing, and utility and infrastructure.

"Intra-ASEAN investments have also increased," the Prime Minister said in reply to Tan Sri Annuar Musa (BN-Ketereh).

Najib noted that the inflow of investments into ASEAN stood at RM562.42 billion in 2014, more than that of China at RM529.34 billion.

On the formation of the ASEAN Economic Community (AEC), Najib said the objective was to see to the creation of a single market covering a population of 625 million people.

Malaysia, Najib added, was committed towards seeing the integration of ASEAN economies with the abolishment of duty imports and the liberalisation of the service sector.

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