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Business
Saturday June 5, 2010
RM10b investments in Q1
KUALA LUMPUR: The Malaysian Investment Development Authority (Mida) = has drawn=20 potential investments worth more than RM10bil in the first quarter of = the=20 year.
The strong interest was attributable to Mida=92s new strategy for = investment=20 projects, ongoing specific project missions overseas and the current=20 corporatisation exercise, said director-general Datuk Jalilah Baba.
By industry, the major areas of interest are solar, manufacturing and = engineering support (MES) and transport. During the first quarter of = this year,=20 Mida made strong inroads to negotiate and capture a fair share of global = investment opportunities.
=93Even with intense global competition faced, the inflow of foreign = direct=20 investments (FDIs) into Malaysia is increasing,=94 Jalilah told a press = conference=20 prior to Mida=92s annual dinner here yesterday.
=93Through the specific strategies, Mida=92s missions have been = successful in=20 procuring and negotiating for investments from Europe and countries such = as the=20 US, Japan, South Korea, Singapore, India, China, the Netherlands, = Germany and=20 the United Kingdom,=94 she added.
New investments from Japan, South Korea, Singapore, India, the US and = China=20 are currently being negotiated.
In addition, negotiations between Mida and the US and China-based = solar=20 specialist companies have commenced for potential investments valued at = an=20 estimated RM5bil.
Jalilah said potential investments would be targeted for the oil well = completion equipment and umbillicals (diversification projects) in the = MES=20 industries.
=93Investors from the transportation industry have also shown keen = interest to=20 invest in projects on maintenance, repair and overhaul (MRO) composite = repair,=20 MRO for aircraft components, seats for aerospace industry and aircraft = machine=20 parts,=94 she added.
Jalilah also said Mida would continue to draw high value-added and=20 innovation-driven investments, and enhance strong bilateral ties with = targeted=20 countries through its trade and investment missions this year.
Europe, the US, South Korea, Singapore, India and China are among the = target=20 markets for 2010.
=93Our missions will also serve as a platform to provide recent = updates on the=20 measures undertaken by the Government to strengthen the economy, = stimulate=20 growth and recover from the economic slowdown,=94 Jalilah said. =97=20 Bernama
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