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Malaysia- one of the most attractive investment destinations say German businesses
Malaysia can expect to attract more investments from Germany as German businesses find Malaysia an attractive location for investments.
Speaking at a media briefing in Kuala Lumpur yesterday, Malaysian-German Chamber of Commerce and Industry (MGCC) Executive Director, Alexander Stedtfeld said "Malaysia is one of the most attractive business destinations with a business friendly environment, competitive cost structure, a well-skilled workforce as well as a base for regional activities."
German investments are likely to remain in the electrical and electronics, medical equipment, chemicals, pharmaceuticals and specialised industries including industrial adhesives, machinery, automotive and original equipment manufacture.
Meanwhile, based on the latest Asean Business Climate Survey 2012 covering MGCC member companies in Indonesia, Malaysia, Singapore, Thailand and Vietnam, Stedtfeld said businesses in Malaysia saw an improvement in the overall situation with the country achieving high scores for positive company situation with 62.5% in comparison to the past year as well as for the next 12 months.
The survey focused on business confidence, growth intentions and investments within the country in the past year and next year.
In terms of workforce, 81.3% of businesses surveyed in Malaysia recruited more workers compared to last year and 87.5 % would do so over the next 12 months.
Malaysia also saw the highest percentage of companies planning to invest more over the next 12 months at 58.8%.
Overall, business confidence in Asean’s economy remained the same in April 2012 compared to the same time in 2011.
For the coming 12 months, some 50% of the companies expect Asean’s overall economy, capital expenditure, business and private consumption to stay the same as last year, while 40 % expect ASEAN’s general situation to improve over the next 12 months.
Some 56.7% of the businesses also expect sales and production to pick up over the next 12 months.
Asean is among the most dynamic economic regions with significant growth prospects, he remarked.
Meanwhile in terms of trade, bilateral trade between Malaysia and Germany is expected to reach €12.5 billion (RM47.89 billion) this year from €11.3 billion (RM43.29 billion) in 2011.
The Malaysia-European Union Free Trade Agreement, being under negotiations, would be an added push factor for the country, he added.
Adapted from NST Business Times 10 Aug 2012 and Aseantoday website
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