Mida eyes US$400 mil investments from S. Korea firms

The Malaysian Investment Development Authority (Mida) expects potential investments of approximately US$400mil from South Korean companies participating in the one-day business seminar and matching programme in Seoul.

Chief executive officer Datuk Azman Mahmud said the firms showed strong interest in food products, the halal industry, electrical and electronics (E and E), chemicals, information and communications technology (ICT) and fabricated metals.

The confidence level is there among foreign investors as Malaysia has its own strengths and attractions with a conducive environment for business to flourish and positive economic growth, he said in an interview with Malaysian media on the sidelines of the seminar.

The business seminar was in conjunction with the Mida-led trade and investment mission to South Korea and Japan which began on Nov 23 and ends on Nov 27.

Individual business sessions have been arranged between South Korean and Japanese companies with the Malaysian delegation comprising private and public sector representatives. Malaysian participants include Invest Penang, Johor State Investment Centre, Johor Petroleum Development Authority, Johor Biotechnoloy and Biodiversity Corp, Multimedia Development Corp, Halal Industry Development Corp and Kulim Technology Park Corp.

Representatives from Accendas Services Malaysia Sdn Bhd and its unit Nusajaya Tech Park Sdn Bhd, Tentu Teguh Sdn Bhd, Johor Corp (Tanjung Langsat), Iskandar Regional Development Authority, UEM Sunrise Bhd, CIMB, WB Land Sdn Bhd, East Coast Economic Region Development Council, POIC Sabah Sdn Bhd and Miresco Integrated are also in the trade and investment mission.

Source : Bernama

Posted on : 25 November 2015
Last Updated : Thursday 6th August 2020