KUALA LUMPUR: Malaysia plans to loosen investment rules to lure foreign funds and will review guidelines to ease rules on foreigners buying property, Finance Minister Najib Razak said yesterday.

The government will also inject RM5 billion (S$2 billion) to double the size of a local fund that invests in undervalued companies to reduce the impact of a global slowdown.

'We have to make Malaysia more competitive,' Datuk Seri Najib said, adding that it is inevitable that the country's real economy would feel the impact of the financial turmoil.

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