UPDATE

Malaysia Views Africa with Optimism

With a population size of more than 1 billion people, we view African countries with optimism and as places of opportunities for potential collaboration in areas of mutual interest and benefit.

14 October 2016, Kuala Lumpur –“It is my hope that from the engagements throughout this programme, we will be able to create win-win situations whereby your nations will benefit from adopting the best practices and systems Malaysia has, and our companies are able to seize the growing opportunities Africa has to offer," said Dato’ Wan Hashim Wan Jusoh, Senior Executive Director of MIDA during the opening ceremony of the Third Country Training Programme: Investment Promotion for African Countries that was held at the Malaysian Investment Development Authority (MIDA) HQ today.

"With a population size of more than 1 billion people, we view African countries with optimism and as places of opportunities for potential collaboration in areas of mutual interest and benefit. Despite Malaysia’s business presence in Africa, many other Malaysian investors are still relatively unaware of the investment opportunities in Africa due to the challenge of obtaining such information. This programme should also be a beginning to continuous engagements between MIDA and your respective investment promotion agencies. As information about investments in African countries is absolutely crucial to encourage investors, we look forward to working with you in obtaining all the necessary information required by Malaysian investors desiring to invest in African countries,” remarked Dato’ Wan Hashim as he highlighted the upcoming Seminar on Trade & Investment Opportunities in African Countries that will be held on 19 October at the Aloft Hotel, Kuala Lumpur.

The seminar, to be held in conjunction with this programme, serves to provide hands-on training for the participants in making an investment promotion pitch. More excitingly, it will also provide valuable opportunity for the Malaysian business community to better understand Africa’s growth story. More than 50 public listed companies as well as business associations in Malaysia is expected to participate in the seminar.

Malaysia is among the major investors in the African continent. Beyond crude oil, other key investment areas by Malaysians include the palm oil industry, and halal goods and services. The bilateral trade volume reached RM30.1 billion last year. In January to July, it has reached RM14.8 billion. In 2015, Malaysia recorded total exports of RM20.6 billion to the Africa continent. Exports were mainly manufactured goods such as palm oil & palm based products, petroleum products, chemical and chemical products, processed food, and machinery, appliances and parts.

Dato' Wan Hashim shared with the participants that with clear and predictable policies in place, Malaysia continues to have the trust and confidence of foreign investors in its business environment. In the first eight months of 2016, Malaysia recorded a total of RM35.86 billion of approved investments in the manufacturing sector. Of these, 49.9% were from foreign sources. The investments were concentrated in electronics & electrical products, petroleum products, chemical & chemical products, food manufacturing and scientific & measuring equipment. These approved foreign investments for January – August 2016 have already reached 81.6% of the total foreign investments approved for the whole of last year. This includes 1 new project from Nigeria to manufacture transport equipment. As at August 2016, MIDA approved 46 manufacturing projects with participation from African countries with a total investment of RM1.3 billion. The investments were mostly in basic metal products, petroleum products including petrochemicals, chemical & chemical products, food manufacturing and paper, printing & publishing

This year is the fourth year in a row that MIDA is collaborating with the Malaysian Technical Cooperation Programme (MTCP) and the Japan International Cooperation Agency (JICA) to organise this experience sharing and learning programme. The event, officiated by the CEO of MIDA, was attended by delegates from various African countries, namely Nigeria, Zimbabwe, Kenya, Ethiopia, Ghana, Zambia, and Angola. Also present was Mr Shigeki Nakazawa, Project Formulation Advisor of JICA Malaysia.

The programme, held from 11 – 21 October 2016, is catered for representatives from the government agencies of various African countries. “This year we continue to bring together a dedicated line up of training sessions and activities, particularly on useful best practices and systems to attract investments. We take cognisant that by promoting greater international cooperation, Malaysia will also expand its economic interaction and thus promote greater economic growth,” said Dato’ Wan Hashim.

Within this two-week programme, participants will be learning from MIDA, particularly on its structure and investment promotion model. There will also be briefings by the MATRADE, SME Corp and EXIM Bank. Besides MIDA, the participants will also be exposed to successful investment promotion efforts by agencies at the state level, namely Johor. To better understand how the outcomes of efforts by these agencies, the participants will also be visiting Iskandar Puteri and Forest City. In addition, the African delegates will also gain a better understanding of the management of industrial parks, using AME Development as an example. Other visits include Daikin Malaysia as an example of a foreign company that has found long-term success in Malaysia.

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For more information, please contact:

Mr Ahmad Tajudin Omar

Director, Domestic Investment Division, MIDA

Tel: 03-2263 3627

Fax: 03-2273 4207

E-mail: [email protected]

Posted on : 14 October 2016
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Last Updated : Monday 21st May 2018