Private tie-ups figure high on visiting Malaysian PM’s agenda

On a five-day state visit to India, Malaysian prime minister Mohd Najib Tun Abdul Razak yesterday met industrialist Anil Ambani, chairman of the Anil Dhirubhai Ambani Group.

A CNBC-TV18 report says Razak is keen on investment in finance, power, and the media; and ADAG has interests in all these sectors. Razak promised to look into Ambani's request of participating in managing Malaysian funds.

Razak said he hoped to sign the Indo-Malaysia Comprehensive Economic Cooperation Agreement (CECA) this year.

Malaysia aims to grow at 4-5 per cent this year, Razak said and added that his government was in no hurry to remove economic stimulus measures. The country has announced two stimulus packages totalling $19 billion.

In all, around a dozen agreements in various sectors including infrastructure, education, information technology and pharmaceuticals are likely to be signed during the Malaysian premier's visit. The private sector will play a major role in signing the memorandums of understanding.

Razak arrived on Tuesday at the head of a delegation of 200, including deputy minister Menteris Besar, several state chief ministers, members of Parliament, senior officials, as well as a business delegation. He met several leaders, including Prime Minister Manmohan Singh and President Pratibha Patil, on Wednesday.