Malaysia to invest in African countries

Malaysia is planning to invest in oil exploration project in Algeria and construct highways and build a specialist hospital in Tanzania, local press reported Monday. Algeria has offered Malaysia's oil giant Petronas to bid for an oil exploration project in Algeria while negotiations are also in the pipeline for Malaysian companies to build highway and specialist hospital in Tanzania, said Malaysian Prime Minister Najib Tun Razak, who was leading a Malaysian delegation at the Global Smart Partnership Dialogue in Dar es Salaam, the capital city of Tanzania. For investment in Tanzania, Najib said United Engineers Malaysia (UEM) was negotiating to build toll highway connecting this commercial city and coastal city to other parts of the country. He said there was also a plan for a Malaysian healthcare provider to build a specialist hospital in Tanzania. Najib said the matters were discussed when he met Tanzanian President Jakaya Mrisho Kikwete on the sidelines of the dialogue Sunday. On his meeting with Uganda's President Yoweri Museveni, the premier said the latter hoped Malaysia could play a role in uplifting Uganda's economic value. Najib said Museveni has sought Malaysian investors to set up coffee bean processing plant in Uganda so that they could export processed coffee instead of merely raw coffee bean in a move to increase the country's revenue. Uganda was also interested in inviting Malaysian independent power producers to invest in that country, Najib said. Najib said Malaysia has no problem in its relationship with the African countries as they knew the country was sincere in helping them through a win-win situation. The Global Smart Partnership Dialogue serves as a platform for heads of governments, business leaders, scientists and academicians to meet and discuss ideas and experiences related to science, technology and innovation and how it can boost socio- economic development. Malaysia will host the Smart Partnership Dialogue in 2015.