Malaysia fast-tracks investments to win trade-war business [Reuters]
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Source: Reuters
Malaysia fast-tracks investments to win trade-war business - Reuters 3 Min Read KUALA LUMPUR, Sept 17 (Reuters) - Malaysia has set up a panel to fast-track investments as it seeks to woo businesses affected by the U.S.-China trade dispute and it approved more than $500 million in new proposals this month, a government minister said. An increasing number of U.S. and Chinese businesses have been moving manufacturing out of China to escape tit-for-tat tariffs imposed on each other’s products. Malaysia’s new National Committee on Investment I (NCII) aims to encourage investment in Southeast Asia’s third-biggest economy and it approved investments worth 2.2 billion ringgit ($526 million) in its first meeting, the minister said. “If approvals took three months earlier, now it would take a month - from when the documentation is complete to when the committee will approve it,” Ong Kian Ming, deputy minister in the Ministry of International Trade and Industry, told Reuters. “It would try to ex
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