KL's new investment policy

KL's new investment policy

KUALA LUMPUR (AFP): Malaysia has extended a concession
allowing full foreign ownership of most new manufacturing
ventures, it was announced on Monday.

Curbs on foreign investment in manufacturing were first
relaxed in July 1998 when the country was gripped by recession.

International Trade and Industry Minister Rafidah Aziz said
the concession had been extended for three years from Jan. 1 and
included investment to expand and diversify existing operations.

"We hope that this extension of flexibility will provide
further impetus for investors to continue investing in the
manufacturing industry," Bernama news agency quoted her as
saying.

Some low-tech sectors have been excluded from the 100 percent
foreign ownership concession. These are paper packaging, plastic
packaging, plastic injection molded components, metal stamping,
metal fabrication and electroplating, wire harness, printing and
steel service centers.