Genting's Venture Paves Way For More Malaysian Investments In Germany

From M Saraswathy MECKLENBURG-VORPOMMERN (Germany), Sept 29 (Bernama) -- Genting Group's venture in Mecklenburg-Vorpommern, Germany through the acquisition of three shipyards paves the way for more investments by Malaysian companies in the state, Prime Minister Najib Razak said. Mecklenburg-Vorpommern, about 200km from the capital Berlin, is the sixth largest German state by area and the most thinly populated. Genting's unit, Genting Hong Kong Ltd, has acquired three shipyards in Mecklenburg-Vorpommern last year for US$252.81 million (RM1.04 billion). "The prospect of Malaysian investment and playing a prime role in the development of maritime industry is a very exciting prospect for both the state and Malaysia," Najib said at a joint press conference with Minister President Erwin Sellering here, Wednesday. Genting has since renamed the shipyards as MV Werften and will focus on building large new cruise ships. It was reported that MV Werften would deliver the first of four luxury Crystal River ships in 2017, the first of a series of 20,000 gross tonnage Crystal Endeavour Class polar expedition yachts in 2018 and the first of a series of 201,000 gross tonnage Star Cruises Global Class cruise ships by 2020. Najib, who is in the last leg of his three-day official visit to Germany, said, "Genting's investment will bring a lot of jobs here, as well as increase investments." It is learned that the shipyards will provide 3,000 permanent jobs and about 10,000 contract jobs. The prime minister said the venture was also beneficial to Malaysia as Genting would be able to have in its possession the state-of-the-art cruise ships, which would boost the capability of the group in increasing its share in the global cruise business -- one fastest expanding businesses in the world today. "We also spoke about the medical sector. Second largest healthcare provider in the world belongs to a Malaysian (group) and we can use (this) as the basis for us to explore cooperation in the field of medicines and bio-medical as well," he said. Meanwhile, Sellering expressed the state's readiness to see the cooperation and collaboration going beyond the maritime industry. Both leaders also discussed on renewable energy, tourism, and Malaysia's palm oil industry, including its sustainable development. -- BERNAMA