ID :
125909
Thu, 06/03/2010 - 17:52
Auther :
Shortlink :
https://oananews.org//node/125909
The shortlink copeid
M`SIA KEEN TO WOO MORE SOUTH KOREAN INVESTMENTS
KUALA LUMPUR, June 3 (Bernama) -- Malaysia is keen to woo more South Korean
investments in various sectors, particularly in green technology, says
International Trade and Industry Deputy Minister Mukhriz Mahathir.
"We are very keen to attract South Korean business to trade and invest in
Malaysia. Our particular interest is in green technology," he told reporters
after launching Malaysia-Korea Chamber of Commerce here Thursday.
Mukhriz said there were South Korean electronic and electrical companies
that have established strong brands and were well-known globally.
"We want to see these companies expand here and hope to see them reinvest in
higher technologies." he said.
Earlier, in his keynote address, Mukhriz said South Korean investments have
grown steadily since the 1980s.
Malaysia's trade with South Korea was on an upward trend for five
consecutive
years from 2004 to 2008, growing at 6.7 per cent a year, from US$9.7 billion in
2004 to US$15.4 billion in 2008, he said.
Last year, however, bilateral trade dwindled to US$11.7 billion, a direct
impact of the global economic crisis.
Mukhriz said it was heartening to note that Malaysia's trade with South
Korea
recovered significantly in the first quarter of this year, recording a 32.1 per
cent increase compared with the same period in 2009.
He said South Korea was Malaysia's sixth largest trading partner. Malaysia's
main exports to South Korea are liquefied natural gas, electrical and electronic
products, iron and steel products, chemicals and chemical products.
He said South Korea was also Malaysia's seventh largest investor since 2006,
with 287 implemented manufacturing projects worth US$2.62 billion.
Based on Bank Negara Malaysia's (central bank) data, he said, Malaysia's
investments in
South Korea was US$4 million last year and US$17.4 million in 2008.
With the implementation of the Investment Agreement under the Asean-South
Korea Free Trade Agreement (FTA) since Sept 1, 2009, Malaysian and South Korean
investors are envisaged to benefit further from a more predictable and
comprehensive investment facilitation and protection regime, he said.
He said the private sector should take advantage of all the opportunities
from the FTA to expand bilateral investment relations.
-- BERNAMA
investments in various sectors, particularly in green technology, says
International Trade and Industry Deputy Minister Mukhriz Mahathir.
"We are very keen to attract South Korean business to trade and invest in
Malaysia. Our particular interest is in green technology," he told reporters
after launching Malaysia-Korea Chamber of Commerce here Thursday.
Mukhriz said there were South Korean electronic and electrical companies
that have established strong brands and were well-known globally.
"We want to see these companies expand here and hope to see them reinvest in
higher technologies." he said.
Earlier, in his keynote address, Mukhriz said South Korean investments have
grown steadily since the 1980s.
Malaysia's trade with South Korea was on an upward trend for five
consecutive
years from 2004 to 2008, growing at 6.7 per cent a year, from US$9.7 billion in
2004 to US$15.4 billion in 2008, he said.
Last year, however, bilateral trade dwindled to US$11.7 billion, a direct
impact of the global economic crisis.
Mukhriz said it was heartening to note that Malaysia's trade with South
Korea
recovered significantly in the first quarter of this year, recording a 32.1 per
cent increase compared with the same period in 2009.
He said South Korea was Malaysia's sixth largest trading partner. Malaysia's
main exports to South Korea are liquefied natural gas, electrical and electronic
products, iron and steel products, chemicals and chemical products.
He said South Korea was also Malaysia's seventh largest investor since 2006,
with 287 implemented manufacturing projects worth US$2.62 billion.
Based on Bank Negara Malaysia's (central bank) data, he said, Malaysia's
investments in
South Korea was US$4 million last year and US$17.4 million in 2008.
With the implementation of the Investment Agreement under the Asean-South
Korea Free Trade Agreement (FTA) since Sept 1, 2009, Malaysian and South Korean
investors are envisaged to benefit further from a more predictable and
comprehensive investment facilitation and protection regime, he said.
He said the private sector should take advantage of all the opportunities
from the FTA to expand bilateral investment relations.
-- BERNAMA
