Stronger Malaysian companies as a measure to enhance investment inflows

Malaysia wants to ensure the capabilities of domestic companies as a measure to increase investment inflows into the country, Prime Minister Datuk Seri Najib Tun Razak said today.

also in line with the country’s development goal to reach high-income status in less than six years.

"The 2015 Budget, which I have just announced, contains measures to stimulate exports and investment inflows” said Datuk Seri Najib.

"It also includes special incentive packages for investment projects that provide qualified and knowledgeable employees with high salaries," he added.

At the meeting Najib, who is also Finance Minister, mentioned some of the collaborative partnerships between Malaysian and UAE companies’ todate.

The UAE's Aabar Investments PJS is collaborating with 1MDB in the Tun Razak Exchange, a US$5.5 billion project to turn Kuala Lumpur into a global centre for international finance, trade and services.

The Emirates' International Foodstuffs Co (IFFCO) has been working with Malaysia's FELDA to expand the refining and processing of edible oils to China, Indonesia, the US, South Africa and Turkey.

Early in the year, Oilfields Supply Center Ltd (OSC), in partnership with Johor Corporation, began developing the Tanjung Langsat Port, a project expected to see investments of more than US$300 million.

“In addition, Dubai's Scitech Ltd has proposed a new oncology research and development centre in Malaysia, to provide cutting-edge solutions for the global healthcare industry”, said Datuk Seri Najib.

"These partnerships not only show us the breadth of opportunities for collaboration between Muslim countries, but they are also a vote of confidence in Malaysia's economy," he noted.

The roundtable, organized by the Ministry of International Trade and Industry (MITI) and Malaysian Investment Development Authority (MIDA), was held in conjunction with the 10th World Islamic Economic Forum (WIEF).

Adapted from BERNAMA, 29 Oct 2014

Posted on : 29 October 2014
Last Updated : Friday 14th August 2020