ID :
21304
Fri, 09/26/2008 - 09:51
Auther :
Shortlink :
http://m.oananews.org//node/21304
The shortlink copeid
DIVERSIFIED SOURCE OF CAPITAL IS A STRATEGY FOR CONTINUOUS INVESTMENT FLOW
KUALA LUMPUR, Sept 25 (Bernama) -- Diversified source of capital is part of the Malaysian government's strategy to ensure continuous flow of investment into the country, says International Trade and Industry Minister Muhyiddin Yassin.
He said Malaysia is still one of the best investment destinations despite
current uncertainties in the global economy.
"The interest is very strong. At the moment we have strong enquiries from
Japan and India to participate in our services sector," he told reporters after
delivering his keynote address at the Malaysia-India Economic Conference 2008
and Malaysia-India Business Council CEO Forum here Thursday.
Muhyiddin said Malaysia is very committed in attracting foreign direct
investments to the targeted areas such as high technology, high value-added
technology and new growth areas such as biotechnology.
"What we will be doing from now on will be targeted sort of investment," he
said.
On trade between Malaysia and India, Muhyiddin said bilateral trade
recorded
an increase of 15.2 per cent to US$7.88 billion in 2007 from US$6.45 billion in
2006.
He said India was Malaysia's 10th largest export destination, with total
exports soaring by 7.6 per cent to US$5.84 billion in 2007 from US$5.12 billion
in 2006.
Between January and July, exports recorded US$4.3 billion, an increase of
26.3 per cent over the same period last year, he said.
Meanwhile, Muhyiddin said the long-awaited trade in goods agreement under
the Asean-India Free Trade Agreement has been concluded and expected to be
signed in December.
He said implementation of the agreement in early 2009 will provide greater
opportunities for deeper engagement between both countries business communities.
The Malaysia-India Comprehensive Economic Cooperation Agreement being
negotiated currently will provide further impetus for bilateral trade
and investment flows between the two countries, he added.
-- BERNAMA
He said Malaysia is still one of the best investment destinations despite
current uncertainties in the global economy.
"The interest is very strong. At the moment we have strong enquiries from
Japan and India to participate in our services sector," he told reporters after
delivering his keynote address at the Malaysia-India Economic Conference 2008
and Malaysia-India Business Council CEO Forum here Thursday.
Muhyiddin said Malaysia is very committed in attracting foreign direct
investments to the targeted areas such as high technology, high value-added
technology and new growth areas such as biotechnology.
"What we will be doing from now on will be targeted sort of investment," he
said.
On trade between Malaysia and India, Muhyiddin said bilateral trade
recorded
an increase of 15.2 per cent to US$7.88 billion in 2007 from US$6.45 billion in
2006.
He said India was Malaysia's 10th largest export destination, with total
exports soaring by 7.6 per cent to US$5.84 billion in 2007 from US$5.12 billion
in 2006.
Between January and July, exports recorded US$4.3 billion, an increase of
26.3 per cent over the same period last year, he said.
Meanwhile, Muhyiddin said the long-awaited trade in goods agreement under
the Asean-India Free Trade Agreement has been concluded and expected to be
signed in December.
He said implementation of the agreement in early 2009 will provide greater
opportunities for deeper engagement between both countries business communities.
The Malaysia-India Comprehensive Economic Cooperation Agreement being
negotiated currently will provide further impetus for bilateral trade
and investment flows between the two countries, he added.
-- BERNAMA
