ID :
116996
Fri, 04/16/2010 - 10:58
Auther :
Shortlink :
https://oananews.org//node/116996
The shortlink copeid
MALAYSIA REMAINS INVESTMENT HAVEN FOR UAE INVESTORS
By Farazira Amira Yusof
KUALA LUMPUR, April 16 (Bernama) -- Malaysia has big potential to be a choice investment hub for investors from the United Arab Emirates (UAE) in their pursuit to seek new investment opportunites, particularly in oil and gas, healthcare and construction materials.
International Trade and Industry Minister Mustapa Mohamed says
Malaysian companies have the expertise and advantage in these sectors and were
prepared to collaborate with the UAE investors.
"With the firm commitment between the two countries, I'm convinced
Malaysia-UAE bilateral trade relations will scale greater heights besides
diversifying into new areas," he told BERNAMA at the end of his three-day visit
to Dubai.
Mustapa said construction material supply and oil and gas had vast
growth
potential with the emergence of new opportunities.
Malaysia also had moden and latest medical and healthcare facilities, he
said.
During the visit, Mustapa and UAE External Trade Minister Sheikha Lubna Al
Qasimi opened the Third Malaysia Services Exhibition 2010 (MSE 2010) at the
Dubai International Exhibition and Convention Centre on April 13.
Though UAE is a small nation, with less than five million population, UAE
absorped 43.31 per cent of Malaysia's exports to the Middle East.
Malaysia-UAE two-way trade has expanded more than three-fold over the last
decade from US$1.16 billion in 2000 to US$4.59 billion last year.
However, merchandise trade between the two countries declined by 22.85 per
cent
to US$4.59 billion last year as compared with US$6.29 billion in 2008, while
trade services dwindled by 3.5 per cent to US$55.7 billion last year
from US$57.7 billion in the previous year following the global economic and
financial crisis.
In 2009, the UAE was Malaysia's major trading partner from the Middle East.
Among Malaysia's main exports to UAE are jewellery (36.1%), electrical and
electronics (28.8%), wood-based products (4.6%) and palm oil (4.6% each).
Machinery, parts and components form 78.4 per cent of total exports.
To date, 120 Malaysian companies are engaged in diverse business operations
in
the West Asian nation, chiefly in the construction, professional services and
construction material supply.
"In my meeting with UAE investors, many companies expressed interest
to invest overseas, including in Malaysia," said Mustapa.
During his visit, the minister met corporate citizens, CEOs Club members,
Al-Ghurair Group and Alokozay Group of Companies.
He said CEOs Club expressed their wish to meet Malaysian entrepreneurs and
companies based in Dubai besides bringing a delegation of 30 to 40 members to
Malaysia in July to explore investment prospects, he said.
Mustapa said UAE industrialists also want to participate in the INTRATRADE
Malaysia 2010 exhibition in November.
"We are also happy for the UAE government's solid support for the staging
of
the MSE 2010 being hosted for the second time in Dubai by the Malaysia External
Trade Development Corporation (Matrade) from April 13 to 15.
"I find that the visitors are not only from UAE, but also from
Oman, Syria and Saudi Arabia," he said.
During the three-day exhibition, the visitors saw the world-class
capabilities of Malaysian companies, which specialised in eight sectors --
oil and gas, information and communications technology, healthcare, franchise,
education, financial services and specialised training.
A total of 180 Malaysian exhibitors comprising 150 service providers and 30
agencies participated in the exhibition.
On the sidelines of the exhibition, Mustapa had closed-door talks with
Sheikha Lubna to further boost bilateral trade and investment between the two
friendly nations.
Mustapa also launched "Malaysia Excellence and Capabilities in Green
Technology" and "Architects Malaysia" publications by Malaysian Institute of
Architects.
-- BERNAMA
KUALA LUMPUR, April 16 (Bernama) -- Malaysia has big potential to be a choice investment hub for investors from the United Arab Emirates (UAE) in their pursuit to seek new investment opportunites, particularly in oil and gas, healthcare and construction materials.
International Trade and Industry Minister Mustapa Mohamed says
Malaysian companies have the expertise and advantage in these sectors and were
prepared to collaborate with the UAE investors.
"With the firm commitment between the two countries, I'm convinced
Malaysia-UAE bilateral trade relations will scale greater heights besides
diversifying into new areas," he told BERNAMA at the end of his three-day visit
to Dubai.
Mustapa said construction material supply and oil and gas had vast
growth
potential with the emergence of new opportunities.
Malaysia also had moden and latest medical and healthcare facilities, he
said.
During the visit, Mustapa and UAE External Trade Minister Sheikha Lubna Al
Qasimi opened the Third Malaysia Services Exhibition 2010 (MSE 2010) at the
Dubai International Exhibition and Convention Centre on April 13.
Though UAE is a small nation, with less than five million population, UAE
absorped 43.31 per cent of Malaysia's exports to the Middle East.
Malaysia-UAE two-way trade has expanded more than three-fold over the last
decade from US$1.16 billion in 2000 to US$4.59 billion last year.
However, merchandise trade between the two countries declined by 22.85 per
cent
to US$4.59 billion last year as compared with US$6.29 billion in 2008, while
trade services dwindled by 3.5 per cent to US$55.7 billion last year
from US$57.7 billion in the previous year following the global economic and
financial crisis.
In 2009, the UAE was Malaysia's major trading partner from the Middle East.
Among Malaysia's main exports to UAE are jewellery (36.1%), electrical and
electronics (28.8%), wood-based products (4.6%) and palm oil (4.6% each).
Machinery, parts and components form 78.4 per cent of total exports.
To date, 120 Malaysian companies are engaged in diverse business operations
in
the West Asian nation, chiefly in the construction, professional services and
construction material supply.
"In my meeting with UAE investors, many companies expressed interest
to invest overseas, including in Malaysia," said Mustapa.
During his visit, the minister met corporate citizens, CEOs Club members,
Al-Ghurair Group and Alokozay Group of Companies.
He said CEOs Club expressed their wish to meet Malaysian entrepreneurs and
companies based in Dubai besides bringing a delegation of 30 to 40 members to
Malaysia in July to explore investment prospects, he said.
Mustapa said UAE industrialists also want to participate in the INTRATRADE
Malaysia 2010 exhibition in November.
"We are also happy for the UAE government's solid support for the staging
of
the MSE 2010 being hosted for the second time in Dubai by the Malaysia External
Trade Development Corporation (Matrade) from April 13 to 15.
"I find that the visitors are not only from UAE, but also from
Oman, Syria and Saudi Arabia," he said.
During the three-day exhibition, the visitors saw the world-class
capabilities of Malaysian companies, which specialised in eight sectors --
oil and gas, information and communications technology, healthcare, franchise,
education, financial services and specialised training.
A total of 180 Malaysian exhibitors comprising 150 service providers and 30
agencies participated in the exhibition.
On the sidelines of the exhibition, Mustapa had closed-door talks with
Sheikha Lubna to further boost bilateral trade and investment between the two
friendly nations.
Mustapa also launched "Malaysia Excellence and Capabilities in Green
Technology" and "Architects Malaysia" publications by Malaysian Institute of
Architects.
-- BERNAMA
