MIDA to pitch Malaysia as world-class centre
Malaysia offers a wide range of attractive opportunities for business investors. It has modern infrastructure, easy access to markets in the region, a viable distribution network and vast pool of skilled workers. Yusni Hasnan Chu, MIDA director
FRANKFURT: The Malaysian Investment Development Authority (MIDA) office in Frankfurt is making a strong pitch to project Malaysia as a world-class profit centre.
Director Yusni Hasnan Chu said this was because Malaysia as such a centre, had all the attributes of a strategic manufacturing hub with a fine distribution network in the region.
“Malaysia offers a wide range of attractive opportunities for business investors. It has modern infrastructure, easy access to markets in the region, a viable distribution network and vast pool of skilled workers,“he told Bernama.
MIDA Frankfurt’s jurisdiction covers Germany, Belgium, Luxembourg and the Netherlands and according to Yusni, foreign direct investment (FDI) for projects approved from his jurisdiction amounted to RM 4.8 billion in 2017.
Germany and the Netherlands were the biggest FDI providers.
“We exceeded the target of RM 2.5 billion set for the Frankfurt office for 2017 and reached RM 4.8 billion for the year,“he added.
Yusni discerns keen interest among Europeans to invest in the Asean region and particularly in Malaysia.
“Malaysia has a central location within Asean whose collective population of 580 million generates robust demand.
“I am visiting companies in my jurisdiction for discussions with potential investors about their needs and to highlight to them available opportunities in Malaysia,” he said.
He also said a Belgian company would be sending representatives to undertake a study for the setting up a plant for production of construction materials, while discussions are also held with companies in the oil and gas sector, medical devices, tourism and hotel industry, among others.
Meantime, a major German tour operator is interested in buying a hotel which will serve as lodging for tourists visiting Malaysia from the country.
“German companies are also looking at various Asian sites for investment purpose. We also encourage potential German investors to talk to other companies which have successfully set up base in Malaysia.
“Using this as a template, newcomers can learn and benefit from the others’ experiences in Malaysia.But, MIDA is also assisting by showing newcomers, the way,“Yusni said.
He was also excited about the forthcoming visit to Malaysia – probably in February – by the Dutch Trade Minister, Sigrid Kaag, who will lead a business delegation to focus on the aerospace and food technology sector as well as others.
The MIDA Frankfurt office is also expecting a number of other high-profiled visits to Germany this year.
It includes that in the later part of the year by Minister of International Trade and Industry, Datuk Mustapa Mohamed who will head a trade mission.
Yusni, who recently visited the MEDICA 2017 (medical devices) trade fair in Dusseldorf, sees business potential for Malaysian companies to supply green technology-based products.
“We are trying to get foreign investors to invest in green technology which is evolving as a major sector in Malaysia,” he said.
Other targeted areas of interest for investment in Malaysia are the 4.0 smart manufacturing and sectors such as aerospace, medical devices, electrical and electronics and machinery. — Bernama