GOVT GIVES EQUAL EMPHASIS TO FDIs, DOMESTIC INVESTMENTS, SAYS JACOB

KLANG (Malaysia), April 14 (Bernama) -- The government gives equal
importance to both domestic and foreign direct investments (FDIs), says
International Trade and Industry Deputy Minister Datuk Jacob Dungau Sagan.

He said the ministry would continue to support local companies to invest in
the country.

"We hope companies with huge capital to further expand their business in the
country. This approach is in line with the New Economic Model that focuses on
facilitating and enhancing investments by local and foreign companies.

Companies should take advantage of the incentives offered by the
government," he said.

Investors are offered incentives like tax holidays, investment allowances
and duty exemptions for raw materials, he told reporters after visiting Malaysia
Steel Works (KL) Bhd (MASTEEL) steel plant in Bukit Raja, here Wednesday.

MASTEEL intends to invest RM300 million (US$88.23 million) in a downstream
project that will be ready in two years.

Ministry secretary-general Abdul Rahman Mamat said the ministry was
examining ways to assist investors to do business in Malaysia smoothly.

He said the government was adopting a holistic approach to improve business
environment in the country.

He also said the ministry would provide incentives for companies that used
high technology in their operations, produced value-added products, are research
and development-driven and paid high salary to employees.
-- BERNAMA


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