GCC COUNTRIES ATTRACTIVE LOCATIONS FOR M'SIAN COMPANIES

From Christine Lim

DUBAI, March 16 (Bernama) - Countries in the Gulf Cooperation Council
(GCC) especially in major cities such as Dubai, are increasingly offering
attractive locations for Malaysian companies that intend to grow their business
in the Halal food products, healthcare and information communication technology
(ICT) industries.

Malaysian Trade Commissioner to the United Arab Emirates, Norasian Hadi
Abdul Kadir said despite the current economic slowdown, these countries
in the GCC which include Bahrain, Qatar, Kuwait, Oman, Saudi Arabia and United
Arab Emirates are still attractive investment destinations being cash rich
countries.

"The GCC countries are least affected by the global economic crisis and they
have the cash reserves to invest and absorb growth," Norasian told reporters
during a visit to MATRADE's office here in Dubai.

He said while the property related sectors may be affected in the GCC
countries, infrastructure development was still continuing.

"There are opportunities for Malaysian companies. Malaysia's good branding
(and image) will be advantage for Malaysian companies to expand in this
region," he said.

Malaysia also enjoys strong exports in jewellery, and electrical and
electronics products (E&E) here, he said.

He emphasized that Malaysian companies involved in the manufacturing of E&E
products can seek new markets in GCC countries in view of the slowdown in
exports from US.

Malaysian exports to UAE for last year amounted to RM12.559 billion
US$1=RM3.66), with jewellery products and E&E comprising the majority of the
products.

The export was also an increase from 2007's RM10.124 billion figure.

Malaysia's total trade with UAE amounted to RM20.9 billion last year.

There has been a double digit growth in bilateral trade between Malaysia
and UAE over the past six years, Norasian said.

Meanwhile, MATRADE chief executive officer, Noharuddin Nordin said the
agency is forging a tie with Dubai Export Development Corporation to
enhance trade between both countries.

MATRADE will exchange the Memorandum of Understanding with Dubai Export
Development Corporation on Tuesday in conjunction with the Malaysian Services
Exhibition (MSE) being held in Dubai's Airport Expo Exhibition Centre.

The MSE (March 17-19) will feature Malaysia's capabilities in the services
industry.

Noharuddin said the Middle East was an exciting market and despite the
global economic crisis, the market offered strong potential for growth in the
services industry.

-- BERNAMA