KUALA LUMPUR: China will invest an estimated RM170.07 billion in Malaysia, including in the petrochemical and automotive industries, Prime Minister Anwar Ibrahim said on Tuesday .
Rongsheng Petrochemical will invest an estimated RM80 billion in a petrochemical refinery in southern Malaysia, Anwar said in parliament.Anwar, who was on an official visit to China last week, did not give a time frame for the total investment commitments. The prime minister also said that he discussed with China reducing Asia's dependency on the US dollar.
Malaysia's central bank is working on an initiative to allow Kuala Lumpur and China to conduct trade using the ringgit and yuan, he said.Anwar said that he proposed setting up an"Asian Monetary Fund" at the Boao Forum in China last week, and in a bilateral meeting Chinese President Xi Jinping welcomed the idea to be discussed further.
Source: Car News Wire (carnewswire.net)
😂😂😂 Only memorandum signed which means no investments were fixed nor committed.
Spend it all on the high speed rail to SG. Only RoI that makes sense.