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NewsKL to 'gradually' lift curbs on foreign equity
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KL to 'gradually' lift curbs on foreign equity
by hlk Tue 05 Jul 2011, 18:00
Malaysia plans six reform initiatives to boost competitiveness and revamp its finances, the government said in a statement.
The state will become more of a facilitator in business as opposed to being a significant investor, it said.
Around RM13 billion will be targeted through cost-savings and revenue generation which will help the government repay debts and invest, said the statement.
Malaysia plans to “gradually” remove restrictions on foreign equity and overseas professionals working in the Southeast Asian nation’s services sector, the government said.
Malaysia will ease foreign equity restrictions in international schools and extend teaching permits validity to up to five years.
Malaysia will remove curbs to foreign participation in the establishment of specialist hospitals and ease entry restrictions for foreign specialists such as doctors and dentists.
Malaysia said it identified 33 state-linked companies that may be divested through the government paring its stake, listing or outright sale.
Some 24 of these corporate exercises will take place either this year or next, the government said in a statement today, outlining its recommendations. -- Bloomberg
The state will become more of a facilitator in business as opposed to being a significant investor, it said.
Around RM13 billion will be targeted through cost-savings and revenue generation which will help the government repay debts and invest, said the statement.
Malaysia plans to “gradually” remove restrictions on foreign equity and overseas professionals working in the Southeast Asian nation’s services sector, the government said.
Malaysia will ease foreign equity restrictions in international schools and extend teaching permits validity to up to five years.
Malaysia will remove curbs to foreign participation in the establishment of specialist hospitals and ease entry restrictions for foreign specialists such as doctors and dentists.
Malaysia said it identified 33 state-linked companies that may be divested through the government paring its stake, listing or outright sale.
Some 24 of these corporate exercises will take place either this year or next, the government said in a statement today, outlining its recommendations. -- Bloomberg
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