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BUSINESS

Delegation of European Union to Malaysia keen on Labuan’s international financial sector, port development

18/08/2022 02:10 PM

By Jailani Hasan

LABUAN, Aug 18 (Bernama) -- The delegation of the European Union to Malaysia is interested to take part in Labuan’s international business and financial sector.

Its ambassador Michalis Rokas said he had been briefed on the various services and products offered by the Labuan International Business and Financial Centre (IBFC) in which the European industry players could invest.

“I have been able to have a briefing by the Labuan Financial Services Authority (Labuan FSA) yesterday (Aug 17) on various services and products of Labuan IBFC.

“One of the products is captive insurance, which to me is an interesting product that I could share with our European industry players for their possible investment,” he said to Bernama after paying a courtesy call on Labuan Corporation chairman Senator Datuk Bashir Alias at the latter’s office today.

Rokas said the European Union industry players are also interested to have a joint collaboration with their local counterparts on the proposed construction of the new Labuan Integrated Port project.

He said there are European Union industry players with extensive expertise and experience in the port construction development project and BioPort.

“Our industry players have extensive expertise in port development like in Rotterdam Port, and some of them have also had collaborations in port expansion project development in Sarawak and Perak.

“I will relay the information on the potential investment and business opportunities, especially in the financial sector and port development in Labuan to European business chambers of commerce based in Kuala Lumpur,” he said.

Rokas said the European Union industry players are also looking at potential business ventures in renewal energy with industry players in Sabah and Sarawak. 

-- BERNAMA


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