INNOVATIVE INCENTIVES TO LURE FOREIGN COMPANIES TO MALAYSIAN SHORES

SEREMBAN (Malaysia), March 3 (Bernama) -- The Malaysian Industrial
Development Authority (MIDA), in its pursuit to lure more foreign companies to
invest in Malaysia, will always innovate incentives to make them more attractive
to investors.

International Trade and Industry Deputy Minister Mukhriz Mahathir said the
Samsung Group of Companies in Malaysia was a perfect example of a company which
had benefitted tremendously from government incentives.

"From time to time, we will review the incentive requirements of investors,
based on the investments they are making here.

"Sometimes, we have incentives which are too general and that may not meet
the specific requirement of a company," he told reporters after visiting
Samsung Electronics's Seremban Complex here Wednesday.

Mukhriz said it was heartening to hear from the South Korean electronics
giant that Malaysia remained a competitive company to invest in terms of
technological know-how, infrastructure, political stability and the fact that
the country was natural disaster-free.

Meanwhile, he said Mida and the ministry would continue, unabated, to woo
more foreign investors to make Malaysia their investment destination.

"Apart from Mida and the ministry, the Prime Minister and the Deputy Prime
Minister have personally assumed the role of "top salesmen" to promote Malaysia
abroad among investors," he said.

But, he pointed out the government did not sideline domestic investments by
local companies.

"It does not mean that domestic investments would be favoured or given
special treatment.

"We will accord equal status to both domestic and foreign investments..there
are no differences in the incentives given to both foreign and domestic
investors," he said.
-- BERNAMA