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Malaysia relaxes foreign investment rules

Malaysia relaxes foreign investment rules

Malaysia has unveiled a major liberalization of its economy to woo foreign investors.
Prime Minister Najib Razak Tuesday says the government will relax a host of restrictions on foreign investment, including a controversial rule requiring businesses to be partly owned by ethnic Malays.
Najib says the rule was not benefiting poor Malays, and was not sustainable amid the global economic slowdown.
He also announced that stock brokers and unit trust management companies will be allowed up to 70 percent foreign ownership, up from the current level of 49 percent.
Foreigners also will be allowed to own 100 percent of fund management companies.


Updated : 2021-06-17 10:21 GMT+08:00