Biz Briefs: GCC countries keen to invest in China, India and Malaysia

Submitted by pekwan on Monday, February 8th, 2010

Monday, February 8th, 2010 13:12:00

DUBAI: The GCC countries are now keen to invest in three most important nations in Asia namely China, India and Malaysia to boost bilateral trade, Press Trust of India (PTI) reported.

Secretary-general of the GCC Chambers Abdulraheem Naqi said GCC countries are now keen to invest in and not keen to invest in Western countries anymore.

"The trend has changed after 9/11. We are looking more towards China, India and Malaysia to make investments," he said.

Stating that India's national capital New Delhi is a "key partner" of the Gulf Cooperation Council and that "cash-rich" countries were now "increasingly looking towards India", Qatar has said it will invest a whopping US$2 billion (RM7b) in the country.

Qatar, which has the highest per capita income in the Arab region, has plans to invest in India's infrastructure
and other promising sectors, reported Press Trust of India (PTI).

India is a key trade partner of the GCC and cash-rich countries were now increasingly looking towards India to park their investments, The Peninsula newspaper said.

Genting Singapore halts trade

SINGAPORE: Genting Singapore requested a trading halt today pending an announcement, following the granting of a casino licence by the city-State's regulator over the weekend.

The Straits Times newspaper reported today that Genting, a unit of Malaysia's Genting Bhd, has told staff and tenants the casino and Universal Studios theme park at its Resorts World at Sentosa casino-resort will open
this week.

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