(Yicai Global) Aug. 9 -- China's Belt and Road Initiative will dramatically change the regional economy and create new trade and investment opportunities, Chinese state-owned news agency Xinhua quoted Malaysian Prime Minister Najib Razak as saying on Aug. 8.
"We believe the One Belt, One Road initiative will trigger a tremendous change to the regional economy and create a broad trade and investment outlook through interconnection of land and sea," Razak said.
He indicated that the two countries had entered a series of agreements and committed investments from China to Malaysia were a result of their bilateral relationship. Malaysia sees no reason to refuse investments from China as it is the second largest economy in the world, Razak added.
Malaysia partnered with Alibaba Group Holding Ltd. [NYSE:BABA] to set up the country's Digital Free Trade Zone, which facilitates the development of Malaysian small- to medium-sized enterprises and boosts prospects for the digital economy.