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By Clifford Faiparik

PORT MORESBY, Papua New Guinea (The National, Sept. 3) – Malaysia is the second largest foreign investor in Papua New Guinea with investments in the vicinity of PGK2 billion [US$704.7 million], acting Malaysian High Commissioner Zainal Izran Zahari said last Friday night.

"We are the second biggest foreign investor after Australia. But we are the largest from the Asian countries."

Mr Zainal said this during the 50th anniversary celebrations of Malaysia at the Holiday Inn last Friday.

"We are confident that under the leadership of Prime Minister Sir Michael Somare, both our countries would continue to experience growth, prosperity and stability," he said. "We hope that our participation in PNG’s economical development would continue to be welcomed in the years to come."

Mr Zainal said the government and the people of Malaysia congratulated PNG on the successful outcome of the general election and the smooth formation of the new Government.

"Malaysia remains committed to maintaining friendly and dynamic relations with PNG Government. Malaysia is committed to further consolidating the existing cooperation in a wide range of areas such as trade, investment and capacity building. In this context, I am happy to note that the Malaysian private sector has a strong presence in this country which has contributed towards strengthening cooperation between our two countries."

NCD Governor Powes Parkop and other foreign dignitaries also attended the event.

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