BUSINESS

BESIDES TRADITIONAL MARKETS, M’SIAN COMPANIES SHOULD INVEST IN NEW EMERGING MARKETS — MIDA

15/10/2019 07:38 PM

Exclusive report by Azlee Nor Mahmud

KUALA LUMPUR, Oct 15  -- Besides the traditional markets that Malaysian companies have invested in, there are more business and investment opportunities in the new emerging markets such as the Africa region, says the Malaysian Investment Development Authority (MIDA).

Domestic investment & supply chain coordination division director, Sikh Shamsul Ibrahim said MIDA is encouraging companies to network with fellow panellists of  the two-day “Trade & Investment Opportunities in African Countries 2019 “' seminar which began today, to enquire on furthering their business interests in these countries.

"We are providing training, business matching and also a platform for delegates to share what is available in their countries, for business and investment opportunities," he told Bernama today.

Sikh Shamsul said participants also have access to updated information on the the policies of the African countries as formulated by their governments, as well as information on available  facilities and support.

He added that senior officials of Investment Promotion Agencies and Ministries from Benin, Cameroon, Ghana, Lesotho, Rwanda, Tanzania, Uganda and Zimbabwe are willing to share their insights on investment promotions in their countries. 

As at end-2017, Sikh Shamsul said Malaysia's Direct Investment Abroad (DIA) was accumulated mainly in the financial services sub-sector, mining and agriculture sectors, and the information and communication services sub-sector. 

"By destination, the domestic investments abroad in this period was channelled mainly to Southeast Asian economies, particularly Singapore and Indonesia, followed by the European countries, and North America, particularly Canada.

"Our DIA was initially driven by the government-linked companies in the oil and gas and palm oil industries," he added.

Since mid-2000, he said private companies, particularly those in the telecommunication industries began to show greater interest in venturing abroad. 

These developments took place amid increased regional economic cooperation through bilateral and regional agreements and complemented by national policy initiatives.

Meanwhile, the seminar is an event jointly organised by MIDA, the Ministry of Foreign Affairs Malaysia and Japan International Cooperation Agency (JICA).

This is the 7th consecutive year that it is being organised by MIDA.

--BERNAMA


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