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NEWS UPDATES 31 March 2010

Thailand explores investment opportunities in Malaysia

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Thailand's investment in Malaysia is expected to increase further based on the keen interest shown by its firms, national news agency Bernama quoted Malaysia International Trade and Industry Minister Mustapa Mohamed as saying Monday.

A 130-member Thai delegation is here to explore potential business opportunities as a result of Prime Miniter Najib Tun Razak's visit to Thailand last year to discuss ways to further strengthen the state of bilateral relations between the two countries.

Mustapa also said that representatives from 15 halal firms from Thailand will be visiting Malaysia in the next two weeks, seeking to leverage on Malaysian expertise in the industry.

He said in another three months, represenatives from the major companies listed on the Stock Exchange of Thailand will make a visit to Malaysia.

"Since the Prime Minister's visit last December, we have seen a rise in interest among Thai investors, leading to a further increase in investment from Thailand," the minister said.

He said this after a meeting here with Thailand Trade Representative president Kiat Sittheeamorn, who is leading a delegation of government officials and 100 members from Thailand's Nationwide Chamber of Commerce.

"At this time, Malaysian investment in Thailand is more compared to Thai investment in Malaysia. So we want to step up relations to get more investments from Thailand," Mustapa said.

He said that investment by Malaysian companies in Thailand totalled about RM3 billion (US$1=RM3.29) while those from Thailand had invested RM1 billion in Malaysia so far.

"So we want more investments from Thailand to provide benefits for both parties," the minister said, adding that Malaysia could benefit from Thailand's expertise, especially in the halal industry.

Other sectors included agriculture, automotive, tourism and biofuel, he said.

"Thailand has a big halal product and agricultural industries, and we have expertise in these fields. This is an opportunity for the two countries to collaborate in developing these industries," he added.


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