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Malaysia keen for Singapore to invest in new industrial park project

Malaysia keen for Singapore to invest in new industrial park project

Malaysia will try to persuade Singapore to invest in a multibillion-dollar industrial park project when leaders of the two countries hold their first bilateral talks in nearly three years on Monday and Tuesday, an official said.
Prime Ministers Abdullah Ahmad Badawi and Lee Hsien Loong may also talk about unresolved bilateral issues, including the price of water that Malaysia sells to Singapore and a dispute over Malaysian railway land in Singapore, said Malaysian Foreign Minister Syed Hamid Albar.
But no decisions are expected to be announced on resolving the disputes, Syed Hamid told reporters.
"The intention is to take advantage of the friendly and very cordial environment that has been established ... the chemistry between our prime minister and hsien loong seems to be very good," Syed Hamid Albar said.
Both prime ministers are leading a high level delegation of nearly 30 ministers and senior officials each, representing international trade, transport, defense, sports, infrastructure development and other sectors.
Lee, who arrived earlier Monday, will be hosted by Abdullah at a dinner for the Singapore delegation later Monday. Both leaders are scheduled to hold a private breakfast meeting on Tuesday before the two delegations go on a cruise aboard a luxury ship off Langkawi, an island resort in northern Malaysia. Lee is scheduled to return home on Tuesday.
Syed Hamid noted that Singapore is one of the biggest investors in Malaysia, and that Malaysia would welcome Singapore's participation in the Iskandar Development Region, an industrial park in the southern state of Johor bordering Singapore.
The 47-billion-ringgit ($14 billion) project, which was launched late last year, is Malaysia's largest of its kind. Once completed, the zone would be almost three times the size of Singapore.
This is the first time Lee and Abdullah are holding official bilateral talks since Lee visited Putrajaya, Malaysia's administrative capital, in October 2004.