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NEWS UPDATES 29 January 2010

Malaysian agency seeks FDIs for green, knowledge-based industries

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Malaysian Industrial Development Authority (Mida) is in talks with several foreign parties to attract more investments in green technology, research and development and high-knowledge content industries, national news agency Bernama reported.

“We are going out of the value-chain by promoting these industries. This is part of the new economic model that the Government has embarked on,” director-general Datuk Jalilah Baba said.

She said the focus this year would be on the knowledge-based industry, with the aim of bringing in skills and knowledge into the country rather than dollars and cents.

“The new trend for foreign direct investments (FDIs) will be on innovation and high-knowledge content in the manufacturing and services industries,” Jalilah said at the Invest Malaysia 2010 pre-event briefing yesterday.

She said Mida was aggressively promoting these industries through its 19 offices abroad. On domestic direct investment, Jalilah said Mida would continue to assist local companies as well as small and medium enterprises to invest in the country.

“We are not neglecting domestic investment. For many years we have had roadshows and seminars to assist them (domestic investors).” Jalilah said Mida also helped link local companies with multinational corporations through its Industrial Linkage Programme.

Mida this year joins Invest Malaysia 2010 to showcase FDI opportunities in the country and Malaysia’s increasingly pivotal role in Asean marketplace. Organised by Bursa Malaysia, the event will be held March 30-31 in Kuala Lumpur and is expected to attract over 600 local and foreign participants.

Bursa chief executive officer Datuk Yusli Mohamed Yusoff said 25 listed companies were expected to take part in the event.

“Last year, we saw institutional investors and fund managers from Singapore and Hong Kong. This year, we are keen to see participants from Japan and West Asia,” he said.

Yusli said the market recovery offered a good time for foreign investors to invest in Malaysia and participate in the potential growth of companies in the country.


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