MIDA and MEDEF International Ink Strategic Partnership to Support Investment Opportunities and Business Cooperation
Paris, 18 October 2021 – Senior Minister and Minister of International Trade and Industry (MITI), YB. Dato’ Seri Mohamed Azmin Ali witnessed a Memorandum of Understanding (MOU) signing between the Malaysian Investment Development Authority (MIDA) and MEDEF International, the French private business network abroad. The MOU formalises the continuous partnership between both organisations to further encourage, promote and facilitate potential investments and business cooperation for mutually beneficial outcomes.
The MOU was signed by Mr. Arham Abdul Rahman, Chief Executive Officer (CEO) of MIDA and Mr. Philippe Gautier, CEO of MEDEF International, during the roundtable meeting with MEDEF International’s France – Malaysia Business Council members.
Also present at the signing ceremony were His Excellency Dato’ Mohd Zamruni Khalid, the Ambassador of Malaysia to France; Mr. Hairil Yahri Yaacob, Deputy Secretary General (Trade) of MITI; and Mr. Mohd Mustafa Abdul Aziz, CEO of Malaysia External Trade Development Corporation (MATRADE).
Economic ties between Malaysia and France have flourished over the years driven by solid diplomatic foundations laid by leaders of both countries. This is evident through the increasing number of French companies investing in Malaysia. As of December 2020, a total of 126 manufacturing projects with French participation have been implemented in Malaysia, with total investments worth RM4.36 billion (USD1.31 billion), creating more than 10,900 jobs.
Underscoring the significance of the MOU, Dato’ Seri Azmin remarked, “France has had a long presence in Malaysia’s manufacturing and services sectors. Recognising the synergies between the French innovative capabilities and Malaysia’s value proposition, we are confident that there will be more French investors, investing particularly within high value and high technology fields such as transport equipment (aerospace), ICT, pharmaceutical, scientific and measuring equipment, electrical and electronics, food, chemical and chemical products as well as machinery and equipment. Concurrently, we hope that these investments will spur more talent development programmes to future proof our workforce, building upon our National Investment Aspirations (NIA) and the Twelfth Malaysian Plan (12MP) towards 2025.”
Mr. Arham Abdul Rahman elaborated, “Given MEDEF International’s invaluable global network in more than 120 markets, this partnership will enable more Malaysian businesses and technology providers to better connect with the global supply chain. The Government of Malaysia, through MIDA will continue to work closely with MEDEF International to further boost and realise French investments in Malaysia.”
Mr. Philippe Gautier also expressed his pleasure to further deepen the partnership between both organisations, saying “MIDA and MEDEF International have established a long and close relationship over many years. MEDEF International’s France-Malaysia Business Council, in particular, has been actively meeting and engaging with Malaysian public authorities and private sector decision-makers for three (3) decades through a number of business missions to Kuala Lumpur. We have also continued to work virtually with MIDA over the past two (2) years since the pandemic to foster opportunities and connect more French companies with Malaysian businesses. We look forward to more future collaborations in building dynamic bilateral relations.”
MIDA is the Government’s principal investment promotion and development agency under the Ministry of International Trade and Industry (MITI) to oversee and drive investments into the manufacturing and services sectors in Malaysia. Headquartered in Kuala Lumpur Sentral, MIDA has 12 regional and 20 overseas offices. MIDA continues to be the strategic partner to businesses in seizing the opportunities arising from the technology revolution of this era. For more information, please visit www.mida.gov.my and follow us on Twitter, Instagram, Facebook, LinkedIn and YouTube.
About MEDEF International
MEDEF International is the French private business network abroad; chaired by Mr. Frederic Sanchez, CEO of FIVES GROUP. MEDEF International aims at promoting the French companies’ know-how abroad through collective actions. MEDEF International supports trade, technologic cooperation and investments, long-term partnerships, especially on emerging and developing markets as well as reconstruction markets.
For more information, please contact:
Mr. Faizal Jalaludin
Director, Foreign Investment Promotion Division, MIDA
Phone: +603 2267 6633
Email: [email protected]
Ms. Priyanka Ramatchandirane
Project Officer – South-East Asia & Oceania
Phone: +331 5359 1632
Email: [email protected]