MIDA coordinating with Dutch authorities to facilitate business delegation´s visit to Malaysia
25 Nov 2019
The Frankfurt office of the Malaysian Investment Development Authority (MIDA) is closely coordinating with the Dutch industry and government agencies to facilitate a Dutch delegation’s visit to Malaysia expected to take place during the first half of 2020.
MIDA’s director in Frankfurt Yusri Chu said Malaysia was very keen to have the visit take place, particularly in view of the growing importance of the Netherlands as one of Europe’s biggest investors in Malaysia.
“I cannot overemphasize the importance of the Netherlands, both as a trading partner and an investor, for Malaysia,” he said in an interview wit Bernama recently.
According to Dutch sources, there would be 10 Dutch companies, specializing in technology and innovation, visiting Malaysia.
The Dutch companies specifically related to defence and security sector are keen to offer their technology to Malaysian businesses and have long-term partnership arrangements.
The Dutch companies will be visiting under the aegis of the Nederlandse Industrie voor Defensie en Velligheld (NIDV) – the Dutch Defence and Security-related Industry – a non-government institution facilitating sustainable positioning of national and international orders, and in national and international supply chains.
During its Malaysia’s visit, the delegation is expected to attend the DSA 2020 (Defence Services Asia Exhibition and Conference) in Kuala Lumpur next year.
Some of the Dutch companies operating in Malaysia include Dutch Lady, Vopak, Vitol, BEST APAC, KMWE, ENEA, Steinweg Group and Acti Force. Conversely, Malaysian companies in the Netherlands, to name a few, include Eaglestar Marine, Sime Darby, Unimills, TOT Loders Croklaan, KLK Klob Specialties and Petronas Lubricants International.
In September, Petronas Chemicals Group acquired the Da Vinci Group, a subsidiary of BRB International.
With two-way Malaysian-Dutch trade touching nearly 7 billion Euros, the Dutch had clocked a total of 248 projects, worth “between 1-3 billion Euros”, according to MIDA.
Indeed, MIDA chief executive Datuk Azman Mahmud personally visited the Netherlands in early November, and participated in a high-level MIDA investment and trade seminar called “Business & Investment in Malaysia, as Gateway to ASEAN” in The Hague.
“More than 200 Dutch companies have started business in Malaysia, while the number of Malaysian companies with a branch in the Netherlands is growing steadily. But I am sure there is room for increasing growth,” he said.