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Stronger Malaysian companies as a measure to enhance investment inflows

Stronger Malaysian companies as a measure to enhance investment inflows

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

29 October 2014
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