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Malaysia in transition

Mahathir turns to Beijing as growth loses momentum

Weaker quarterly GDP pushes government to seek new investment

Malaysian Prime Minister Mahathir Mohamad said the country welcomes foreign investments that could "bring in capital and technologies."   © Reuters

KUALA LUMPUR -- With Malaysia facing a slowdown in commodity-fueled growth, the new government of Prime Minister Mahathir Mohamad finds itself increasingly having to turn to regional economic powerhouses for investment.

Gross domestic product growth in Southeast Asia's third largest economy declined for the third consecutive quarter to 4.5% year-on-year between April and June, having been weighed down by contractions in the mining and agriculture sectors, according to data released by the central bank on Friday. The economy grew at 5.4% in the January to March period.

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