Malaysia aims to lure investments amid sluggish economy and US-China tensions

KUALA LUMPUR - Malaysia is rolling out incentives to lure foreign investors seeking shelter from the persistent US-China trade war.

Mr Lim sees opportunities as companies relocate to escape the trade war, with those previously opening plants in China looking to set up shop outside the Middle Kingdom to avoid US tariffs."As China is our largest trading partner, FDI from China should be comparable with the US," Mr Lim said. Companies would have to invest at least RM5 billion in Malaysia to generate additional economic activities that would support small and medium enterprises, thus creating 150,000 high-impact jobs in five years, Mr Lim said.

"The budget's emphasis on backing higher-value added industries and on infrastructure development will support growth against a challenging global environment," said Anushka Shah, senior analyst at Moody's Investors Service.

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