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Malaysia calls on Kuwait to double investments due to economic crisis

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KUALA LUMPUR, March 19, (KUNA): Malaysian Prime Minister Mahathir Mohamad called on Kuwait to double investments on Tuesday, hoping it will aid his country to overcome its economic crisis since the transfer of power to the new government. During a meeting with Kuwaiti Ambassador to Malaysia Saad Al- Asousi, in Putrajaya, Malaysia, the ambassador told KUNA that the Malaysian prime minister emphasized the importance of putting a previously signed bilateral agreement in place.

Hailing the role of Kuwaiti companies in Malaysian markets and Malaysian companies in Kuwaiti markets, Mohamad is eager to continue international and regional bilateral cooperation.

The prime minister also lauded Kuwait’s crucial role in resolving issues in the Middle East, and thanked the Gulf country for providing scholarships to Malaysian students and encouraging Kuwaiti students to study at Malaysian universities.

Historical ties between both countries go way back over 50 years, clearly seen from former King of Malaysia Syed Harun Putra’s first visit to Kuwait in 1965, to Malaysian government opening its embassy in Kuwait in 1974, marking it as the first country in Southeast Asia to open an embassy in Kuwait. Since last May general election, Malaysia has been undergoing an economic crisis aftermath left by the previous government, along with financial corruption linked to the country’s sovereign development fund known as 1Malaysia Development Berhad (1MDB).