Malaysia PM sees higher FDI this year on reforms

HONG KONG, March 23 (Reuters) - Malaysia should see higher foreign direct investment this year, the country's prime minister said on Tuesday.

The country's new economic model, to be announced later this month, will include unspecified administrative reforms that should result in a "marked improvement" in FDI, Malaysian Prime Minister Najib Razak told an investment forum in Hong Kong.

Malaysia has been considering proposals to end its subsidy regime and phase in a new goods and services tax as it begins dismantling a four-decade race-based economic system that has deterred foreign investment.