Malaysia PM announces to cancel some major projects
Malaysian Prime Minister Mahathir Mohamad has announced to cancel a project on building a high-speed rail link connecting Kuala Lumpur with Singapore.
Malaysian Prime Minister Mahathir Mohamad (Source: https://www.straitstimes.com)Kuala Lumpur (VNA) - Malaysian Prime Minister Mahathir Mohamad has announced to cancel a project on building a high-speed rail link connecting Kuala Lumpur with Singapore.
In an interview granted to the Financial Times, the PM said Malaysia needs to drop some unnecessary projects, including the high-speed rail, which is going to cost the country 110 billion ringgit (28 billion USD).
He also said his government was negotiating with Chinese partners over the terms of a 14 billion USD rail deal aimed at connecting eastern Malaysia from the Thai border with the strategic shipping routes of the Straits of Malacca in the west.
He estimates that Malaysia could cut almost a fifth of its 250 billion USD national debt and liabilities by scrapping such big projects.
After taking office, PM Mahathir Mohamad announced the government’s priority to reducing national debts and committed to reviewing major projects approved by the previous government.
Mahathir Mohamad was officially sworn in as Prime Minister of Malaysia on May 10 after a shock election victory, 15 years after he stood down. Mahathir served as Prime Minister of Malaysia from 1981 to 2003.-VNA
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