WORLD HERITAGE DESTINATION

WORLD HERITAGE DESTINATION

Wednesday, April 22, 2009

Malaysia to partly open services sector: PM

Wednesday, April 22, 2009, 05.59 PM

MALAYSIA is to open some sectors in the service sector of its economy to foreign investors without requiring them to have domestic companies as stakeholders, the country’s prime minister said today.

The areas that will be freed up are in Health, Tourism, Transport, Business Services and Computer Related Businesses and cover 27 subsectors of the services economy, Prime Minister Datuk Seri Najib Razak told a press conference.

In addition up to five foreign law firms will be allowed to enter if they work in Islamic finance, a sector Malaysia is keen to boost.

Other finance areas are not being opened up further under the plans announced on Wednesday and air travel, utilities, the distributive trades are among the areas that will not be opened up under the current round. - Reuters

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