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The Malaysian economy is “out of the woods” and on the path to recovery, Malaysia’s Ambassador to Japan Dato Marzuki bin Mohammad Noor said during a visit to The Japan Times Thursday.

“We had 4.1 percent growth in the second quarter of this year and expect to see growth of about 3 percent for the year,” he added.

The ambassador credited the economic policy implemented by Prime Minister Mohamad Mahathir for helping Malaysia avoid the worst effects of the economic crisis that hit the region in 1997. “There was much less social destruction in Malaysia,” he said.

Marzuki also thanked Japan for its aid. “The Miyazawa initiative was helpful for providing funds that let us continue our development projects. It played an important role,” he said.

He said that the more than 1,000 Japanese companies doing business in Malaysia have also helped the country overcome the crisis. “Japanese investment, Japan’s contribution, to the national economy, has been very substantial.”

The ambassador said that his priority was to set up a close working relationship with the public and private sector in Japan.

“We have lots of things to do together,” he said.

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