ASEAN KEY DESTINATIONS
Malaysia unveils spending plan
The plans ranged from a new mass transit system to relieve congestion in the capital, Kuala Lumpur, to building a huge oil storage facility next to neighbouring Singapore to form a regional oil products trading hub.
A government think tank said it had identified investments worth US$444 billion (S$592.1 billion) over 10 years. About 60 percent would come from the private sector, 32 percent from government-linked companies and 8 percent from government.
The plan comes as Malaysia is seeking to boost domestic demand and the service sector. It also outlines the country's ambition to move into business outsourcing, although tackling Malaysia's racially divided education system will be a tough challenge.
The think tank has identified 133 projects with investments worth US$444 billion, of which 92 percent will come from the private sector.
Private firms will invest US$266 billion or 60 percent, government-linked companies US$144 billion or 32 per cent, and the public sector US$34 billion or 8 per cent. Seven projects worth US$37 billion are ready to go now.
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