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Mahathir says Malaysians cutting My (r)



At 07:14 AM 3/10/98, you wrote:
>Mahathir says Malaysians cutting Myanmar investmen 
>05:06 a.m. Mar 10, 1998 Eastern 
>YANGON, March 10 (Reuters) - Malaysian Prime Minister Mahathir Mohamad said
>on Tuesday his country would have to cut back on its investment in Myanmar
>(Burma), but praised Myanmar's efforts to open up its economy. 
>
>``Because of the currency crisis, the cost of investment in our own country
>has gone up, so we have to minimise our investment in Myanamr,'' Mahathir
>told reporters at the end of a two-day visit to Yangon. ``But as soon as we
>recover we would like to (resume investment).'' 
>
>Malaysia is the fourth largest investor in Myanmar in terms of approved
>projects. Latest figures show the government has approved a total investment
>of $587.17 million in 25 projects since 1988 when Myanmar opened its economy. 
>
>Mahathir, who first visited Myanmar in 1988 a few months before the military
>seized power, said he saw a lot of change in the country over the past
>decade and praised the government for its progress. 
>
>The Malaysian leader said he would urge investors to carry out their plans
>in Myanmar, but he was hoping to focus more on improved trade between the
>two nations rather than direct investment. 
>
>``The most important subject (discussed with Myanmar leaders) was economic
>cooperation,'' he said. ``We want to balance the trade between the two
>countries, which is currently very much in Malaysia's favour at the moment.'' 
>
>Myanmar exported to Malaysia goods worth 305.94 million kyat ($50.99 million
>at the official exchange rate of six kyat to dollar) in the 1996/97 (April
>to March) fiscal year, and imported goods worth 847.46 million kyat,
>official figures show. REUTERS 
>
Dear Ko Moe,
I cannot save this news because it is protacted.
uthaung>