KUALA LUMPUR: Malaysia and Saudi Arabia have entered a new era of economic cooperation with the setting up of a US$2.5bil (RM8.7bil) joint-venture company that will spearhead the flow of foreign direct investments from the Middle-East as well as make strategic investments in high-impact projects in Malaysia.
The joint-venture company is the result of a partnership between 1Malaysia Development Berhad (1MDB) and PetroSaudi International Limited (PSI).
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