MIDA FRANKFURT OFFICE HOPEFUL OF IMPROVED INVESTMENT CLIMATE IN GERMANY

By Manik Mehta

FRANKFURT, April 27 (Bernama) -- Although 2009 was not a lucrative year for
Malaysia as an investment destination for German companies, the Frankfurt office
of the Malaysian Industrial Development Authority (MIDA) is hopeful that 2010
will prove to be a better year.

Signs of an economic recovery and the resulting improvement in Germany's
investment and business climate have begin to appear on the economic horizon.

Roswaidin Mohd Zain, director of MIDA Frankfurt office, believes the German
economy is on the rebound now.

This is reflected in the increased number of business enquiries his office
has received since the start of the year, seeking information about investment
opportunities in Malaysia.

"This shows the German economy is gradually recovering. As the economic
recovery gains steam, German companies will seek investment opportunities in
Malaysia," he told Bernama.

Roswaidin, who arrived in Frankfurt in July 2009 to take up office as the
MIDA director, discerned the change in Germany's business climate between last
year and this year.

"When I first arrived in July 2009, Germany was in the midst of a severe
recession and we were hardly getting any enquiries then, but we see signs of
improvement since early this year," he said.

Malaysia attracted German investments worth RM400 million last year,
according to MIDA Frankfurt office. This volume, Roswaidin admitted, was low.

Most of the investments went into electronics, electrical and machinery
industries. One destination that seemed to enjoy popularity with German
industries was Kulim Hi-Tech Park in Kedah.

For 2010, MIDA's investment target has been increased in view of the
improved business environment in Germany.

Making an assessment of the investment seminar held last month in Hamburg
where International Trade and Industry Minister Datuk Seri Mustapa Mohamed was
the guest speaker, Roswaidin said the seminar generated many business enquiries
from German companies.

The seminar attracted some 100 German corporate representatives,
according to MIDA Frankfurt office.

Present at the seminar were 20-odd Malaysian corporate representatives to
answer questions and examine the prospects of cooperation with German companies.

Meanwhile, preparations are underway for the opening of a second MIDA office
in Germany.

MIDA will have a new office in Munich, which will open for business in early
May, with Tajudin Omar, from the MIDA head office in Kuala Lumpur, as the
director.

Tajudin had previously served in the MIDA offices in Los Angeles and Seoul
before transferred to the head office in Kuala Lumpur.
-- BERNAMA