KAZAKHSTAN OFFERS SEVEN PER CENT INTEREST RATE SUBSIDY TO MALAYSIAN INVESTORS

KUALA LUMPUR, March 25 (Bernama) -- Kazakhstan is offering a seven per cent
interest rate subsidy to Malaysian investors interested in investing in the
country, International Trade and Industry Minister Mustapa Mohamed said.

The interest rate in the central Asian country at present is 14 per cent.

He said among the areas that might catch the interest of Malaysian investors
is the manufacturing and construction sectors.

"They (Kazakhstan) have enjoyed a high growth rate and experienced a rapid
transformation in the past decade and this includes the infrastructure and new
township developments," he told reporters after a meeting with Kazakhstan's
Deputy Prime Minister, Yerbol Orynbayev here Friday.

He said Kazakhstan was eager to learn from Malaysia's success in attracting
foreign direct investments as well increase bilateral trade between the two
countries.

According to Mustapa, Kazakhstan is interested in importing Malaysian
shrimps as well as agriculture products.

It is also keen on exporting beef to Malaysia.

Last year, bilateral trade between Malaysia and Kazakhstan amounted to
RM345.52 million (US$114.17 million), an increase of 307.8 per cent from the
RM92.54 million (US$30.8 million) recorded in 2009.