M'sian Companies Should Leverage Bahrain's Advantage Venture Into Middle East - Envoy

From Azlina Aziz MANAMA (BAHRAIN), April 2 (Bernama) -- Malaysian companies should seek to leverage Bahrain's advantage as the easiest country to do business in the Middle East and tap into enormous opportunity in the region, especially in the oil-rich Saudi Arabia. Malaysian Ambassador to Bahrain Ahmad Shahizan Abdul Samad said it was high time Malaysian companies went beyond the "jaguh kampung" (village hero) mentality, set the benchmark by being creative and deliver unique projects in good locations. They will have to be on top of their game if there were going to compete, he said. "I have been here for five years and seriously, before I retire, I want to see more Malaysian companies venturing into Bahrain, leveraging all the opportunities offered here. "We have the technologies and expertise, we must share and expand globally, not to be shy and timid. Be more confident," he told the Malaysian media participating in a familiarisation trip to the kingdom organised by the Bahrain Economic Development Board (EDB) recently. Ahmad Shahizan said Malaysia and Bahrain have great opportunities to enhance bilateral economic, trade and investment relations, stressing the private sector's keenness to promote trade cooperation with the kingdom. There are a lot of business potentials from Malaysia, among others, tourism, food and beverages, education, landscaping, and oil and gas. "Again, I would say Bahrain is the ideal place for Malaysians to go global, use the kingdom as a platform to expand into the Gulf countries," the envoy said. Leading Malaysian companies, which have established offices or facilities in Bahrain, include Malakoff Corporation Bhd, CIMB Middle East BSC, Chase Perdana Sdn Bhd, Nawa Pharma Sdn Bhd and Malayan Banking Bhd. The most recent announcement in the quest to enhance ties and accelerate growth was a memorandum of understanding signed between Bahrain’s EDB and Malaysia Petroleum Resources Corporation to promote cooperation and explore opportunities in the oil and gas sector. Commenting on his recent proposal for a setting up of a planning unit ministry in Bahrain, Ahmad Shahizan said what he meant was that "there should be coordination between Bahraini government agencies to better facilitate foreign investments in the kingdom." Meanwhile, Maybank Group Media, in a statement, said Maybank Bahrain was the first South Asian Bank operating an Offshore Banking Unit in the Middle East. Licensed as a Conventional Wholesale Bank by the Central Bank of Bahrain, it commenced its wholesale banking operations on Sept 1, 2002, focusing on regional syndicate corporate lending and capital markets. Being part of Maybank Group, it extends services from Maybank Islamic, Maybank Investment Bank and Maybank Investment Management to entities within the region, facilitating the flow of economic capital between Middle Eastern and Malaysian investors. It also provides alternative investment opportunities for investors in the Middle East. -- BERNAMA