Australia Hopes To Increase Investments In Malaysia Via Regional Conference

KUALA LUMPUR, Sept 29 (Bernama) -- Australia hopes to increase its foreign direct investments (FDIs) in Malaysia from the current A$10 billion (A$1 = US$0.76) via a regional conference and engagement programme, which will be held here from Nov 9-11, 2016. The programme, 'Trading Up: Accessing Opportunities for Australian Businesses in Asia', will pave the way for 17 Australian business chambers in Asia looking to facilitate trade and investments, as well as business-matching session in one location. Australian Business Asia and the Malaysia Australia Business Council Chairman, Leigh Howard, said compared with Malaysia's FDIs to Australia, which presently stood at A$20 billion, Australia's to Malaysia were relatively low. He said he hoped and looked forward to greater trade and engagements between Malaysian and Australian businesses here through this conference. "The programme will also look at how we deal with common issues, partnerships and help investors navigate very solid opportunities in Asia," he told a media briefing on "Access to Regional Linkages Key to Business Success in Asia" here Thursday. The programme is designed to provide participants with access to a wide range of business contacts, policymakers and government officials. Howard was also confident the Australians would accept the challenge to get involved in Malaysia's projects, particularly in the construction, healthcare, food and agribusiness and tourism sectors. He said the business council looked forward to having more Australian investors and companies explore business opportunities here and strategically use it as the gateway to Asean markets. "With 4.5 billion people in Asia, and regional gross domestic product growth close to 5.5 per cent, the markets of Asia represent the nearest and most attractive opportunities for Australian business," he said. A recent Australia government study found that most Australian companies preferred Malaysia, Thailand and Singapore to establish operations in Asean. This trend will continue following the ASEAN-Australia-New Zealand Free Trade Agreement and the Malaysia-Australia Free Trade Agreement which have set the ground work for business collaborations. -- BERNAMA