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Malaysian Leader in Pakistan to Sign $900M in Investment Deals 

Malaysian Prime Minister Mahathir Mohamad arrived Thursday in Pakistan on an official three-day visit, where his high-powered delegation is expected to finalize investment deals worth nearly $900 million, officials said.    The Malaysian leader will also be the chief guest at the Pakistan Day military parade Saturday, the Foreign Ministry announced.    Pakistani Prime Minister Imran Khan's adviser on commerce told reporters that business leaders accompanying Mahathir would sign three memorandums of understanding on Friday covering up to $900 million worth of investments in information technology and telecom sectors.   The adviser, Razak Dawood, said the deals with Malaysia would also provide Pakistan a new opening toward membership in the Association of South East Asian Nations. He said Malaysian businessmen had also indicated they would like to invest in other sectors, including energy and textiles, to help Pakistan improve its exports.    Officials said that Malaysia's Proton carmaker signed an agreement late last year with a Pakistani partner to set up an assembly plant in the southern city of Karachi that would be its first facility in South Asia. Khan and his Malaysian counterpart are expected to officiate at a symbolic groundbreaking of the Proton plant Friday. Looking for investors Since taking office last August, Khan has approached nations that have warm relations with Pakistan, including China, Saudi Arabia, the United Arab Emirates, Qatar and Malaysia, to bring investment and financial deposits to help reduce a widening current account deficit and shore up foreign reserves.   Riyadh and Abu Dhabi have deposited or are in the process of depositing $6 billion in loans in recent months. The two countries have also agreed to allow Islamabad to import oil on deferred payments. China is expected to deposit more than $2 billion in the next few days.    Beijing has invested more than $19 billion over the past six years in... If you wish to read this full breaking news headline, plus more articles from around Thailand and Asia like, Malaysian Leader in Pakistan to Sign $900M in Investment Deals , simply click on 'Read full story' below, but 1st please give us a 'LIKE' or 'SHARE' before you leave. Thank you Malaysian Leader in Pakistan to Sign $900M in Investment Deals 

 

 

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Published By: VOA NEWS - Thursday, 21 March

 

 

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