Najib hoping for more FDI from China for mutual benefit

 

KUALA LUMPUR: Prime Minister Datuk Seri Najib Tun Razak has expressed hope for more foreign direct investment (FDI) to be pumped into Malaysia from China for the benefit of both countries.

 

While he thanked the Chinese government for supporting Malaysian companies, Najib said the amount of FDI from China was not as much as the FDI from Malaysia into the Asian economic giant.

"As of 2012, Malaysia's cumulative FDI into China stands at USD6.3bil (RM20.05bil).

"The cross flow from China to Malaysia however, is a fraction of that," he said in his speech at the Malaysia-China Economic Summit at the Kuala Lumpur Convention Centre Friday.

Najib said Malaysia looked forward to further investment in the future, as it continued to explore business opportunities in China and carry out reforms.

"We also laud the ongoing initiatives to facilitate further trade, including our bilateral currency swap arrangement agreement.