ID :
131506
Tue, 07/06/2010 - 08:12
Auther :
Shortlink :
https://oananews.org//node/131506
The shortlink copeid
MORE INDIAN INVESTMENTS LIKELY IN MALAYSIA WITH CECA
KUALA LUMPUR, July 5 (Bernama) -- Malaysia is likely to see more investments from India when the Malaysia-India Comprehensive Economic Cooperation Agreement (CECA) is concluded, according to the Consortium of Indian Industries in Malaysia (CIIM).
"There is a growing interest from Indian companies to invest in Malaysia
because Malaysia is a gateway to Asean. Among the key sectors which hold
interest for the Indian companies are biotechnology and education," said CIIM
chairman Umang Sharma at a media luncheon here Monday.
It was reported that the much-awaited CECA will be signed during Indian
Prime Minister Manmohan Singh's visit later this year.
Umang said that Indian investments in Malaysia had grown tremendously in the
past two years.
Cumulative Indian investments in Malaysia from 1980 to 2009 totalled about
US$2 billion.
For the first half of 2009, the total approved Indian investment in Malaysia
amounted to US$17.3 million, with six approved projects.
At present, there are more than 100 Indian companies, including 61 Indian
joint ventures operating in Malaysia and Indian companies have started making
huge investments in Malaysia.
Among them are Recron Malaysia Sdn Bhd, owned by the Reliance group, which
is the largest Indian company in Malaysia and involved in textiles, Ballarpur
Industries Ltd of the Thapar Group-owned Sabah Forest Industries, and Larsen &
Toubro Group's Tamco Switchgear.
"Indian companies have gone overseas and acquired many companies to expand
their operations. Similarly, they also want to come to Malaysia if opportunities
are here. But the challenge here is lack of skilled manpower," Umang said.
According to him, India also offers opportunities for Malaysian companies as
Malaysia has become a significant investor in India in the last few years,
mainly in roads and highways, telecommunications, power plants and tourism.
"In India, there are opportunities in the retail, infrastructure, seaports,
highways and airports," he said.
The media luncheon was held in conjunction with the two-day visit by the
India's Commerce and Industry Minister Anand Sharma beginning Tuesday.
He will be leading a high profile trade delegation, comprising government
officials and chief executive officers from Indian companies, to explore
business potential.
It is understood that Anand will also meet with his counterpart,
International Trade and Industry Minister Mustapa Mohamed, regarding
the CECA.
-- BERNAMA
"There is a growing interest from Indian companies to invest in Malaysia
because Malaysia is a gateway to Asean. Among the key sectors which hold
interest for the Indian companies are biotechnology and education," said CIIM
chairman Umang Sharma at a media luncheon here Monday.
It was reported that the much-awaited CECA will be signed during Indian
Prime Minister Manmohan Singh's visit later this year.
Umang said that Indian investments in Malaysia had grown tremendously in the
past two years.
Cumulative Indian investments in Malaysia from 1980 to 2009 totalled about
US$2 billion.
For the first half of 2009, the total approved Indian investment in Malaysia
amounted to US$17.3 million, with six approved projects.
At present, there are more than 100 Indian companies, including 61 Indian
joint ventures operating in Malaysia and Indian companies have started making
huge investments in Malaysia.
Among them are Recron Malaysia Sdn Bhd, owned by the Reliance group, which
is the largest Indian company in Malaysia and involved in textiles, Ballarpur
Industries Ltd of the Thapar Group-owned Sabah Forest Industries, and Larsen &
Toubro Group's Tamco Switchgear.
"Indian companies have gone overseas and acquired many companies to expand
their operations. Similarly, they also want to come to Malaysia if opportunities
are here. But the challenge here is lack of skilled manpower," Umang said.
According to him, India also offers opportunities for Malaysian companies as
Malaysia has become a significant investor in India in the last few years,
mainly in roads and highways, telecommunications, power plants and tourism.
"In India, there are opportunities in the retail, infrastructure, seaports,
highways and airports," he said.
The media luncheon was held in conjunction with the two-day visit by the
India's Commerce and Industry Minister Anand Sharma beginning Tuesday.
He will be leading a high profile trade delegation, comprising government
officials and chief executive officers from Indian companies, to explore
business potential.
It is understood that Anand will also meet with his counterpart,
International Trade and Industry Minister Mustapa Mohamed, regarding
the CECA.
-- BERNAMA
