Investment in Malaysia up

Tue, 19 Nov 1996 | Source: AFP

KUALA LUMPUR (AFP): Foreign investment in Malaysia reached 21 billion ringgit (US$8.4 billion) in the eight months to August, higher than the 20-billion-ringgit mark reached for all of last year, an investment official said Sunday.

"Up to August, foreigners have already invested 21 billion ringgit, which is more than the total for the whole of last year," Zainun Aishah Ahmad, director-general of the Malaysian Industrial Development Authority (MIDA), was quoted as saying by Bernama news agency.

Officials have been concerned that investment could shrink this year as Malaysia intensifies its shift from labor-intensive industries into more capital and high-technology based operations.

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