Published: Tuesday March 12, 2013 MYT 4:54:00 PM
Updated: Tuesday March 12, 2013 MYT 7:19:49 PM
Malaysia, UAE sign RM39bil joint ventures in petroleum and finance
PUTRAJAYA: Malaysia and the United Arab Emirates on Tuesday inked agreements involving two joint venture investments worth RM39bil.
The first involved the establishment of a RM18bil Aabar-1MDB strategic partnership to focus on making sustainable investments in important high-impact projects
The other investment involved a RM21bil crude oil and petroleum storage facility off Tanjung Piai in johor.
Prime Minister Datuk Seri Najib Tun Razak and Crown Prince Sheikh Mohammed Zayed al Nahyan, here on a one-day visit, witnessed the signing of the agreements.
Najib said the projects would create thousands of well-paying new jobs for Malaysians.